Novaco Inc

Analysis

Novaco Inc is a registered charity in United States, based in Chantilly, VA. It received its IRS tax-exemption ruling in September 2004, 22 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Novaco Inc reported income of $104k and spending of $110k, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $103k to $104k (+0.5%), an average of +0.1% a year. The sharpest change came in the year to June 2022, when income rose by 99%. Over the whole period it spent 116% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Novaco Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 37th percentile within VA. Charities of a similar size with the same main cause include General Service Area 28 ($104k), Life Concepts Group Home I Inc ($104k) and Smith County Emergency Shelter for Women and Children Inc ($104k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. At year end it held assets of $1.2m against liabilities of $203k, net assets of $1.0m.