New Springs Inc

Analysis

New Springs Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in December 2008, 18 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Springs Inc reported income of $4.7m and spending of $4.8m, spending 103% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.4m to $4.7m (+236%), an average of +50% a year. The sharpest change came in the year to June 2021, when income rose by 276%. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Springs Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Michigan Center for Construction Education & Research TR Ua ($4.7m), Seattle Institute for Early Child Development Inc ($4.7m) and Sigma Nu Educational Foundation Inc ($4.7m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. At year end it held assets of $9.2m against liabilities of $7.2m, net assets of $2.0m. It reported 46 employees.