New Entrepreneurs Opportunity Fund

Analysis

New Entrepreneurs Opportunity Fund is a registered charity in United States, based in Ashtabula, OH. It received its IRS tax-exemption ruling in April 2012, 14 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 Entrepreneurs Opportunity Fund reported income of $183k and spending of $191k, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $35k to $183k (+425%), an average of +51% a year. The sharpest change came in the year to December 2020, when income rose by 413%. Over the whole period it spent 93% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Entrepreneurs Opportunity Fund sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 52nd percentile within OH. Charities of a similar size with the same main cause include Philmont Beautification Inc ($182k), International Conductors Guild Inc ($183k) and Green Deck Inc ($182k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $42k (22% of expenses). At year end it held assets of $143k against liabilities of $2,688, net assets of $141k. It reported 1 employees.