New Beginnings of Central Florida Inc

Analysis

New Beginnings of Central Florida Inc is a registered charity in United States, based in Clermont, FL. It received its IRS tax-exemption ruling in June 2008, 18 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 December 2023, New Beginnings of Central Florida Inc reported income of $1.4m and spending of $1.0m, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.6m to $1.4m (-17%), an average of -4.4% a year. The sharpest change came in the year to December 2021, when income rose by 49%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Beginnings of Central Florida Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 84th percentile within FL. Charities of a similar size with the same main cause include Island Hospital Health Foundation ($1.4m), Boston Cares Inc ($1.4m) and Maine Center for Enterprise Development ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 4.8% of the total. Other salaries and wages came to $622k. At year end it held assets of $2.5m against liabilities of $683k, net assets of $1.8m.