New Purpose

Analysis

New Purpose is a registered charity in United States, based in Clarksville, TN. It received its IRS tax-exemption ruling in March 1999, 27 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 Purpose reported income of $4.5m and spending of $4.0m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.8m to $4.5m (+61%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 29%. Over the whole period it spent 91% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Purpose 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 91st percentile, and in the 92nd percentile within TN. Charities of a similar size with the same main cause include Initiative for Affordable Housing Dekalb Inc ($4.5m), Habitat for Humanity of Horry County Inc ($4.5m) and Ascension Manor Inc ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $2.7m. At year end it held assets of $2.7m against liabilities of $220k, net assets of $2.5m. It reported 133 employees.