New Oil Christian Center

Analysis

New Oil Christian Center is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in May 2020, 6 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Oil Christian Center reported income of $880k and spending of $836k, spending 95% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $345k to $880k (+155%), an average of +21% a year. The sharpest change came in the year to December 2019, when income rose by 339%. Over the whole period it spent 72% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, New Oil Christian Center sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within MN. Charities of a similar size with the same main cause include Christian Center Inc ($879k), Deaconess Faith Community Nurse Ministries ($881k) and Faith Wins ($879k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $20k (2.4% of expenses). Other salaries and wages came to $282k. At year end it held assets of $4.4m against liabilities of $2.2m, net assets of $2.2m.