Nu-Way House Inc

Analysis

Nu-Way House Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in September 1966, 60 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Nu-Way House Inc reported income of $46.6m and spending of $49.2m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $33.3m to $46.6m (+40%), an average of +8.8% a year. The sharpest change came in the year to December 2020, when income rose by 28%. 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, Nu-Way House Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MN. Charities of a similar size with the same main cause include Brooklyn Academy of Music Inc ($46.6m), United Cerebral Palsy of Cental Pennsylvania Inc ($46.6m) and Arkansas Childrens Hospital Research Institute ($46.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 99% of the total. Other salaries and wages came to $12.4m. At year end it held assets of $33.8m against liabilities of $5.4m, net assets of $28.4m. It reported 328 employees.