Newcap Inc

Analysis

Newcap Inc is a registered charity in United States, based in Oconto, WI. It received its IRS tax-exemption ruling in August 1966, 60 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 December 2023, Newcap Inc reported income of $19.3m and spending of $21.3m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.8m to $19.3m (+63%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 156%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Newcap Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within WI. Charities of a similar size with the same main cause include Cri-Help Inc ($19.2m), Lifespan Incorporated ($19.3m) and Sarah a Reed Home ($19.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 4.5% of the total. Compensation of current officers, directors and key employees was $732k (3.4% of expenses). Other salaries and wages came to $6.2m. At year end it held assets of $17.1m against liabilities of $9.3m, net assets of $7.8m. It reported 209 employees.