Newtrax Incorporated

Analysis

Newtrax Incorporated is a registered charity in United States, based in White Bear Lake, MN. It received its IRS tax-exemption ruling in April 2011, 15 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Newtrax Incorporated reported income of $4.9m and spending of $5.2m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.9m to $4.9m (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2021, when income rose by 28%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Newtrax Incorporated 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 92nd percentile, and in the 91st percentile within MN. Charities of a similar size with the same main cause include Community Services Inc of Ocean County ($4.9m), High Peaks Hospice and Palliative Care Inc ($4.9m) and Ronald McDonald House Charities of Maryland Inc ($4.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.3% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $121k (2.3% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $2.6m against liabilities of $768k, net assets of $1.9m. It reported 100 employees.