New Way Ministries

Analysis

New Way Ministries is a registered charity in United States, based in Farmingtn HLS, MI. It received its IRS tax-exemption ruling in March 2014, 12 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2021, New Way Ministries reported income of $1.2m and spending of $654k, leaving 47% of income unspent that year. Across the 3 years on record, from December 2019 to December 2021, income grew from $449k to $1.2m (+176%), an average of +66% a year. The sharpest change came in the year to December 2020, when income rose by 110%. Over the whole period it spent 61% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, New Way Ministries sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within MI. Charities of a similar size with the same main cause include Rav Chaims Kollelim Inc ($1.2m), Gallatin County Love Inc ($1.2m) and Good Faith Network Inc ($1.2m).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 100% of the total. At year end it held assets of $2.0m against liabilities of $922k, net assets of $1.1m.