Newco Alp Inc

Analysis

Newco Alp Inc is a registered charity in United States, based in Hempstead, NY. It received its IRS tax-exemption ruling in July 2014, 12 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Newco Alp Inc reported income of $12.3m and spending of $13.2m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $13.1m to $12.3m (-6.3%), an average of -1.6% a year. The sharpest change came in the year to December 2021, when income rose by 43%. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Newco Alp Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Holyoke Retirement Community Inc ($12.3m), Headwaters Community Housing Trust ($12.3m) and Sunnyside Properties of Sarasota Inc ($12.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $72.2m against liabilities of $73.3m, net assets of -$1.1m.