New Life Foundation

Analysis

New Life Foundation is a registered charity in United States, based in Derwood, MD. It received its IRS tax-exemption ruling in April 2012, 14 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 Life Foundation reported income of $114k and spending of $135k, spending 119% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $47k to $114k (+140%), an average of +140% a year. The sharpest change came in the year to December 2023, when income rose by 140%. Over the whole period it spent 111% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New Life Foundation sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 41st percentile within MD. Charities of a similar size with the same main cause include Veterans Memorial Museum Inc ($114k), Fundacion Yo Te Amo Colorado ($114k) and Ma Sharon Chinese Language School ($114k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 6.4% and program service revenue 94% of the total. At year end it held assets of $54k against liabilities of $0, net assets of $54k.