Centro Nueva Creacion-New Creation

Analysis

Centro Nueva Creacion-New Creation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in March 1995, 31 years ago. Its declared purposes cover community improvement and capacity building, 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, Centro Nueva Creacion-New Creation reported income of $391k and spending of $425k, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $218k to $391k (+79%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 137%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Centro Nueva Creacion-New Creation sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within PA. Charities of a similar size with the same main cause include Iowa Foundation for Microenterprise and Community Vitality ($391k), Langlade County Economic Development Corporation ($392k) and Bloomfield Center Alliance Inc ($391k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $222k. At year end it held assets of $155k against liabilities of $20k, net assets of $135k. It reported 7 employees.