New Life of New York City Inc

Analysis

New Life of New York City Inc is a registered charity in United States, based in New York City, NY. It received its IRS tax-exemption ruling in December 1973, 53 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, New Life of New York City Inc reported income of $518k and spending of $1.6m, spending 318% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $8.5m to $518k (-94%), an average of -50% a year. The sharpest change came in the year to September 2020, when income dropped by 95%. Over the whole period it spent 53% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Life of New York City Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 67th percentile within NY. Charities of a similar size with the same main cause include Adult and Teen Challenge Inc Tennessee Valley ($518k), Tuckahoe After School Care Inc ($518k) and Equity Before Birth ($518k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 64% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $359k (22% of expenses). Other salaries and wages came to $560k. At year end it held assets of $5.3m against liabilities of $40k, net assets of $5.3m. It reported 22 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.