New Lima Housing for the Future

Analysis

New Lima Housing for the Future is a registered charity in United States, based in Lima, OH. It received its IRS tax-exemption ruling in August 2001, 25 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 Lima Housing for the Future reported income of $1.3m and spending of $638k, leaving 49% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $235k to $1.3m (+434%), an average of +52% a year. The sharpest change came in the year to December 2023, when income rose by 119%. Over the whole period it spent 60% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Lima Housing for the Future sits at the 75th percentile: it is larger than about 75% 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 1228 Washington Avenue Housing Development Fund Company ($1.3m), Troutman-Evergreen Housing Development Fund Company Inc ($1.3m) and Housing for Hope Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $80k (13% of expenses). Other salaries and wages came to $14k. At year end it held assets of $4.3m against liabilities of $16k, net assets of $4.3m. It reported 2 employees.