New Harmony Workingmens Institute

Analysis

New Harmony Workingmens Institute is a registered charity in United States, based in New Harmony, IN. It received its IRS tax-exemption ruling in October 1953, 73 years ago. 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 Harmony Workingmens Institute reported income of $298k and spending of $359k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $203k to $298k (+47%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 114%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Harmony Workingmens Institute sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 61st percentile within IN. Charities of a similar size with the same main cause include NJ Nahro Inc ($298k), Wheatfield Housing Development Fund Company Inc ($298k) and Equipment Dealers Foundation ($298k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% of the total. Other salaries and wages came to $108k. At year end it held assets of $4.3m against liabilities of $19k, net assets of $4.3m. It reported 5 employees.