The New Life Child Development Center Inc

Analysis

The New Life Child Development Center Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1972, 54 years ago. 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, The New Life Child Development Center Inc reported income of $10.6m and spending of $10.8m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.3m to $10.6m (+2.9%), an average of +0.7% a year. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The New Life Child Development Center Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include United Against Poverty Inc ($10.6m), Agricultural Research Foundation ($10.6m) and Legal Aid Society of Rochester Inc ($10.6m).

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 $5.7m. At year end it held assets of $2.6m against liabilities of $2.0m, net assets of $622k. It reported 118 employees.