United for a New Economy

Analysis

United for a New Economy is a registered charity in United States, based in Commerce City, CO. It received its IRS tax-exemption ruling in July 2002, 24 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 December 2023, United for a New Economy reported income of $3.3m and spending of $2.1m, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $3.3m (+107%), an average of +20% a year. The sharpest change came in the year to December 2021, when income rose by 169%. Over the whole period it spent 60% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, United for a New Economy sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within CO. Charities of a similar size with the same main cause include Pennsylvania Conference for Women ($3.3m), Family Education and Support Services ($3.3m) and Catholic Eldercare Community Services Corporation II ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 5.1% of the total. Compensation of current officers, directors and key employees was $119k (5.5% of expenses). Other salaries and wages came to $392k. At year end it held assets of $5.8m against liabilities of $84k, net assets of $5.7m. It reported 11 employees.