New Hope Memorial Community Development Corporation Inc

Analysis

New Hope Memorial Community Development Corporation Inc is a registered charity in United States, based in Elizabeth, NJ. It received its IRS tax-exemption ruling in June 2001, 25 years ago. Its declared purposes cover education, which this site groups under education and training. 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 Hope Memorial Community Development Corporation Inc reported income of $591k and spending of $553k, spending 93% of its income. Across the 6 years on record, from June 2018 to June 2023, income fell from $1.9m to $591k (-68%), an average of -21% a year. The sharpest change came in the year to June 2022, when income dropped by 100%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Hope Memorial Community Development Corporation Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 77th percentile within NJ. Charities of a similar size with the same main cause include Law & Leadership Institute LLC ($591k), Shelburne Craft School Inc ($591k) and School Board School ($591k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 77% of the total. Other salaries and wages came to $241k. At year end it held assets of $552k against liabilities of $164k, net assets of $388k. It reported 9 employees.