New London Homeless Hospitalitycenter Inc

Analysis

New London Homeless Hospitalitycenter Inc is a registered charity in United States, based in New London, CT. It received its IRS tax-exemption ruling in November 2006, 20 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New London Homeless Hospitalitycenter Inc reported income of $4.5m and spending of $4.1m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $4.5m (+109%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 48%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New London Homeless Hospitalitycenter Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within CT. Charities of a similar size with the same main cause include Friends of Camp Anokijig Inc ($4.5m), Muna Social Services Inc ($4.5m) and Youth on Their Own ($4.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 5.9% of the total. Compensation of current officers, directors and key employees was $24k (0.6% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $5.9m against liabilities of $904k, net assets of $5.0m. It reported 98 employees.