Nueva Esperanza

Analysis

Nueva Esperanza is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in May 1989, 37 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Nueva Esperanza reported income of $13.5m and spending of $13.0m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.6m to $13.5m (+56%), an average of +12% a year. The sharpest change came in the year to June 2020, when income rose by 27%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Nueva Esperanza sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within PA. Charities of a similar size with the same main cause include Wisconsin Operating Engineers Skill Improvement and Apprenticeship Fun ($13.4m), Ability Building Center Inc ($13.5m) and Just a Start Inc ($13.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $739k (5.7% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $44.5m against liabilities of $28.0m, net assets of $16.5m. It reported 118 employees.