Newark Resident Homes Inc

Analysis

Newark Resident Homes Inc is a registered charity in United States, based in Newark, OH. It received its IRS tax-exemption ruling in July 1975, 51 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Newark Resident Homes Inc reported income of $1.4m and spending of $1.4m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.4m (+15%), an average of +3.6% a year. The sharpest change came in the year to December 2020, when income rose by 23%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Newark Resident Homes Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within OH. Charities of a similar size with the same main cause include Holmes-Tuscarawas Mennonite Save- And-Serve Shops Inc ($1.4m), Auxiliary of the Infant Welfare Society of Chicago ($1.4m) and Plywood People Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.2% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $79k (5.8% of expenses). At year end it held assets of $1.1m against liabilities of $110k, net assets of $1.0m. It reported 38 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.