New Harmony Care Center Inc

Analysis

New Harmony Care Center Inc is a registered charity in United States, based in Edina, MN. It received its IRS tax-exemption ruling in January 1997, 29 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, New Harmony Care Center Inc reported income of $16.5m and spending of $17.3m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.5m to $16.5m (+119%), an average of +22% a year. The sharpest change came in the year to December 2023, when income rose by 88%. Over the whole period it spent 95% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, New Harmony Care Center 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 96th percentile within MN. Charities of a similar size with the same main cause include East Texas Communties Foundation Inc ($16.5m), Pasadena Community Foundation ($16.5m) and Uga Real Estate Foundation Inc ($16.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.5% and program service revenue 82% of the total. Other salaries and wages came to $6.9m. At year end it held assets of $38.8m against liabilities of $34.1m, net assets of $4.6m. It reported 317 employees.