Centers for New Horizons Inc

Analysis

Centers for New Horizons Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 1973, 53 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 June 2023, Centers for New Horizons Inc reported income of $13.9m and spending of $13.8m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.1m to $13.9m (+15%), an average of +3.5% a year. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Centers for New Horizons Inc sits at the 97th 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 IL. Charities of a similar size with the same main cause include Child Dimensions Insurance Company ($13.9m), Mercycare Service Corporation ($13.9m) and Habitiat for Humanity International Inc ($13.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $126k (0.9% of expenses). Other salaries and wages came to $8.2m. At year end it held assets of $6.3m against liabilities of $5.6m, net assets of $716k. It reported 705 employees.