New Horizon Thrift Store

Analysis

New Horizon Thrift Store is a registered charity in United States, based in Pine City, MN. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Horizon Thrift Store reported income of $176k and spending of $133k, leaving 24% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $101k to $176k (+74%), an average of +32% a year. The sharpest change came in the year to December 2022, when income rose by 69%. Over the whole period it spent 78% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Horizon Thrift Store sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within MN. Charities of a similar size with the same main cause include Grow Into You Foundation Inc ($176k), Sumner Board for Senior Services Inc ($176k) and Families of Slain Children Inc ($176k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.3% of the total. Other salaries and wages came to $2,363. At year end it held assets of $368k against liabilities of $204k, net assets of $164k. It reported 2 employees.