Newgate Education & Research Center Inc

Analysis

Newgate Education & Research Center Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in March 1976, 50 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Newgate Education & Research Center Inc reported income of $4.1m and spending of $4.2m, spending 102% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $3.8m to $4.1m (+9.0%), an average of +1.7% a year. The sharpest change came in the year to June 2021, when income rose by 30%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Newgate Education & Research Center Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MN. Charities of a similar size with the same main cause include Harnett County Partnership for Children Inc ($4.1m), Academy 360 ($4.1m) and Massachusetts College of Liberal Arts Foundation Inc ($4.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 37% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $100k (2.4% of expenses). Other salaries and wages came to $869k. At year end it held assets of $5.5m against liabilities of $151k, net assets of $5.4m. It reported 16 employees.