New Way Group Home

Analysis

New Way Group Home is a registered charity in United States, based in Ventura, CA. It received its IRS tax-exemption ruling in December 2007, 19 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, New Way Group Home reported income of $2.7m and spending of $2.3m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $2.7m (+92%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 49%. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Way Group Home sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include Regional West Village ($2.7m), Habitat for Humanity International Inc ($2.7m) and St Stephen Inc ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $273k (12% of expenses). Other salaries and wages came to $983k. At year end it held assets of $1.2m against liabilities of $128k, net assets of $1.1m. It reported 40 employees.