Novasalud

Analysis

Novasalud is a registered charity in United States, based in Falls Church, VA. It received its IRS tax-exemption ruling in July 2010, 16 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. 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, Novasalud reported income of $2.7m and spending of $1.9m, leaving 29% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $2.7m (+170%), an average of +28% a year. The sharpest change came in the year to December 2020, when income rose by 48%. Over the whole period it spent 84% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Novasalud sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Commonspace ($2.7m), Center for Rural Health Development Inc ($2.7m) and Town of Bennington Rescue Squad Inc ($2.7m).

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 $117k (6.1% of expenses). Other salaries and wages came to $671k. At year end it held assets of $1.7m against liabilities of $73k, net assets of $1.7m. It reported 14 employees.