New Beginnings Inc

Analysis

New Beginnings Inc is a registered charity in United States, based in Hutchinson, KS. It received its IRS tax-exemption ruling in June 1989, 37 years ago. 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 Beginnings Inc reported income of $2.1m and spending of $2.5m, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $2.1m (+20%), an average of +4.7% a year. The sharpest change came in the year to December 2020, when income rose by 20%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Beginnings Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within KS. Charities of a similar size with the same main cause include Community Access-Supported Living ($2.1m), Falmouth Housing Trust Inc ($2.1m) and The Oriental Mission Church ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $50k (2.0% of expenses). Other salaries and wages came to $889k. At year end it held assets of $7.6m against liabilities of $3.7m, net assets of $3.8m. It reported 105 employees.