Nueva Esperanza Housing and Economic Development

Analysis

Nueva Esperanza Housing and Economic Development is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in July 1999, 27 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, Nueva Esperanza Housing and Economic Development reported income of $1.3m and spending of $1.1m, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $841k to $1.3m (+52%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 151%. Over the whole period it spent 67% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Nueva Esperanza Housing and Economic Development sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within PA. Charities of a similar size with the same main cause include Warrick Dunn Charities Inc ($1.3m), Boxford Friendship Foundation Inc ($1.3m) and Habitat for Humanity International Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 6.4% of the total. Other salaries and wages came to $619k. At year end it held assets of $4.9m against liabilities of $3.1m, net assets of $1.8m.