New Life-Knew Solutions

Analysis

New Life-Knew Solutions is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in January 2014, 12 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, New Life-Knew Solutions reported income of $1.3m and spending of $1.0m, leaving 22% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $451k to $1.3m (+190%), an average of +43% a year. The sharpest change came in the year to December 2022, when income rose by 148%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Life-Knew Solutions sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within IL. Charities of a similar size with the same main cause include Adoption-Share Inc ($1.3m), Meals on Wheels Chicago ($1.3m) and District of Jasper of the Society of St Vincent Depaul Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 9.7% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $324k (32% of expenses). Other salaries and wages came to $563k. At year end it held assets of $332k against liabilities of $0, net assets of $332k. It reported 5 employees.