Make Old Things New Inc

Analysis

Make Old Things New Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in September 1988, 38 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 May 2024, Make Old Things New Inc reported income of $64k and spending of $143k, spending 224% of what it took in. Across the 3 years on record, from May 2022 to May 2024, income fell from $730k to $64k (-91%), an average of -70% a year. The sharpest change came in the year to May 2023, when income dropped by 89%. Over the whole period it spent 51% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Make Old Things New Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 21st percentile within MN. Charities of a similar size with the same main cause include Timrod Literary and Library Association ($64k), PTA California Congress of Parents Teachers & Students Inc ($64k) and PTA California Congress of Parents Teachers & Students Inc ($64k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 56% of the total. Compensation of current officers, directors and key employees was $45k (31% of expenses). Other salaries and wages came to $900. At year end it held assets of $530k against liabilities of $2,165, net assets of $528k. It reported 2 employees.