New Sunrise Properties Inc

Analysis

New Sunrise Properties Inc is a registered charity in United States, based in Elyria, OH. It received its IRS tax-exemption ruling in October 1991, 35 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 (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 Sunrise Properties Inc reported income of $246k and spending of $542k, spending 220% of what it took in. Across the 6 years on record, from June 2019 to December 2023, income fell from $1.7m to $246k (-86%), an average of -32% a year. The sharpest change came in the year to December 2023, when income dropped by 83%. Over the whole period it spent 105% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Sunrise Properties Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 58th percentile within OH. Charities of a similar size with the same main cause include Jesus Community Center Inc ($246k), Meadows of Wesley Village ($246k) and Greater Bergen Realtors Care Foundation Inc ($246k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 133% of the total. Other salaries and wages came to $217k. At year end it held assets of $4.2m against liabilities of $2.1m, net assets of $2.1m. It reported 9 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.