New Hytes Inc

Analysis

New Hytes Inc is a registered charity in United States, based in Branford, CT. It received its IRS tax-exemption ruling in March 2010, 16 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 Hytes Inc reported income of $675k and spending of $345k, leaving 49% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $243k to $675k (+178%), an average of +29% a year. The sharpest change came in the year to December 2022, when income rose by 117%. Over the whole period it spent 78% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, New Hytes 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 74th percentile, and in the 73rd percentile within CT. Charities of a similar size with the same main cause include Sports Leadership Ministries ($675k), Pacific Northwest District of Key Club International Inc ($677k) and Home School Athletic Association Inc ($674k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $145k (42% of expenses). Other salaries and wages came to $49k. At year end it held assets of $639k against liabilities of $1,477, net assets of $637k. It reported 2 employees.