New Avenues to Independence Inc

Analysis

New Avenues to Independence Inc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in October 1956, 70 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 December 2023, New Avenues to Independence Inc reported income of $13.9m and spending of $15.8m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $14.4m to $13.9m (-3.6%), an average of -0.9% a year. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Avenues to Independence Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within OH. Charities of a similar size with the same main cause include MBCH Children and Family Ministries ($13.9m), Central Maine Area Agency on Aging ($13.9m) and Kaleidoscope Youth Development Services Inc ($13.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.4% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $575k (3.6% of expenses). Other salaries and wages came to $7.5m. At year end it held assets of $7.6m against liabilities of $3.6m, net assets of $3.9m. It reported 359 employees.