New Life Development Corporation

Analysis

New Life Development Corporation is a registered charity in United States, based in Atlantic City, NJ. It received its IRS tax-exemption ruling in November 2023, 3 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 December 2023, New Life Development Corporation reported income of $520k and spending of $568k, spending 109% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $178k to $520k (+192%), an average of +71% a year. The sharpest change came in the year to December 2022, when income rose by 126%. Over the whole period it spent 105% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Life Development Corporation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 75th percentile within NJ. Charities of a similar size with the same main cause include Lutheran Scholarship Granting Organization of Ohio Inc ($520k), Kansas Chapter American Academy of Pediatrics Inc ($520k) and Frederick T Crosby Education Foundation Inc ($520k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 3.3% of the total. Other salaries and wages came to $177k. At year end it held assets of $5,234 against liabilities of $0, net assets of $5,234.