Nova Vida Inc

Analysis

Nova Vida Inc is a registered charity in United States, based in Charlotte, MI. It received its IRS tax-exemption ruling in December 1993, 33 years ago. 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 September 2023, Nova Vida Inc reported income of $1.0m and spending of $1.0m, spending 99% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $759k to $1.0m (+35%), an average of +7.7% a year. The sharpest change came in the year to September 2021, when income rose by 15%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Nova Vida Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within MI. Charities of a similar size with the same main cause include Mercer and McLean Counties Commission on Aging ($1.0m), Broadway Mall Association Inc ($1.0m) and Altus Academy ($1.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 90% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $92k (9.1% of expenses). Other salaries and wages came to $604k. At year end it held assets of $78k against liabilities of $86k, net assets of -$7,831. It reported 20 employees.