Horizons Newark Inc

Analysis

Horizons Newark Inc is a registered charity in United States, based in Summit, NJ. It received its IRS tax-exemption ruling in May 2021, 5 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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, Horizons Newark Inc reported income of $333k and spending of $237k, leaving 29% of income unspent that year. Across the 5 years on record, from December 2017 to December 2023, income grew from $122k to $333k (+173%), an average of +28% a year. The sharpest change came in the year to December 2022, when income rose by 79%. Over the whole period it spent 88% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Horizons Newark Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 70th percentile within NJ. Charities of a similar size with the same main cause include Focus Ministries ($333k), LA Grange Soccer League Inc ($333k) and Northern Colorado United for Youth ($333k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $47k. At year end it held assets of $227k against liabilities of $0, net assets of $227k. It reported 2 employees.