New Life Thrift Store

Analysis

New Life Thrift Store is a registered charity in United States, based in Wyoming, MI. It received its IRS tax-exemption ruling in June 2017, 9 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 July 2023, New Life Thrift Store reported income of $378k and spending of $341k, spending 90% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $294k to $378k (+29%), an average of +6.5% a year. The sharpest change came in the year to July 2021, when income rose by 37%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Life Thrift Store 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 66th percentile, and in the 66th percentile within MI. Charities of a similar size with the same main cause include Sanctuary Life Inc ($378k), Frostproof Care Center Inc ($378k) and Columbia County Recovery Kitchen Inc ($378k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 103% of the total. Other salaries and wages came to $105k. At year end it held assets of $883k against liabilities of $8,354, net assets of $874k. It reported 17 employees.