New Reach Inc

Analysis

New Reach Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in May 1990, 36 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 Reach Inc reported income of $8.8m and spending of $9.7m, spending 110% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $7.7m to $8.8m (+14%), an average of +4.5% a year. The sharpest change came in the year to June 2023, when income rose by 17%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Reach Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within CT. Charities of a similar size with the same main cause include Oak Grove Christian Retirement Village Inc ($8.8m), Appalachian Real Estate Development Corppration ($8.8m) and Springhouse Inc ($8.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 11% of the total. Other salaries and wages came to $4.3m. At year end it held assets of $20.7m against liabilities of $6.4m, net assets of $14.3m. It reported 143 employees.