New Eyes for the Needy Inc

Analysis

New Eyes for the Needy Inc is a registered charity in United States, based in Short Hills, NJ. It received its IRS tax-exemption ruling in October 1950, 76 years ago. 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 March 2024, New Eyes for the Needy Inc reported income of $433k and spending of $1.3m, spending 304% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income fell from $833k to $433k (-48%), an average of -15% a year. The sharpest change came in the year to March 2024, when income dropped by 79%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Eyes for the Needy Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 73rd percentile within NJ. Charities of a similar size with the same main cause include Oriskany Falls Housing Development Fund ($433k), Shelter Island Historical Society ($433k) and Passinart a Theatre Company ($433k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 71% of the total. Compensation of current officers, directors and key employees was $155k (12% of expenses). Other salaries and wages came to $281k. At year end it held assets of $4.8m against liabilities of $100k, net assets of $4.7m. It reported 6 employees.