New Faith Outreach Economic Development Inc

Analysis

New Faith Outreach Economic Development Inc is a registered charity in United States, based in Mobile, AL. It received its IRS tax-exemption ruling in May 2004, 22 years ago. Its declared purposes cover employment, which this site groups under community and economic 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 Faith Outreach Economic Development Inc reported income of $109k and spending of $109k, spending 100% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $123k to $109k (-11%), an average of -12% a year. Over the whole period it spent 96% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Faith Outreach Economic Development Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 38th percentile within AL. Charities of a similar size with the same main cause include Medical Society of Eastern Pennsylvania Inc ($109k), South of Downtown Orlando Main Street ($109k) and Allegheny West Civic Council Inc ($109k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $354k against liabilities of $234k, net assets of $120k.