New Life Ministries Inc

Analysis

New Life Ministries Inc is a registered charity in United States, based in Olathe, KS. It received its IRS tax-exemption ruling in September 2021, 5 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, New Life Ministries Inc reported income of $290k and spending of $245k, spending 85% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $449k to $290k (-35%), an average of -35% a year. The sharpest change came in the year to December 2023, when income dropped by 35%. Over the whole period it spent 74% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, New Life Ministries Inc 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 61st percentile, and in the 61st percentile within KS. Charities of a similar size with the same main cause include Healing Hearts Ministries ($290k), Ohr Torah Inc ($290k) and Forge Men Inc ($290k).

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 $11k (4.6% of expenses). At year end it held assets of $619k against liabilities of $234k, net assets of $385k.