New Ways Ministry Inc

Analysis

New Ways Ministry Inc is a registered charity in United States, based in Mount Rainier, MD. It received its IRS tax-exemption ruling in September 1978, 48 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 Ways Ministry Inc reported income of $546k and spending of $411k, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $419k to $546k (+30%), an average of +6.9% a year. The sharpest change came in the year to December 2020, when income rose by 131%. Over the whole period it spent 55% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Ways Ministry 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 72nd percentile, and in the 71st percentile within MD. Charities of a similar size with the same main cause include Marlborough Elementary Child Care Association Inc ($546k), San Francisco Trial Lawyers Association ($546k) and Little League Baseball Inc ($546k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 7.6% of the total. Compensation of current officers, directors and key employees was $90k (22% of expenses). Other salaries and wages came to $146k. At year end it held assets of $3.1m against liabilities of $18k, net assets of $3.1m. It reported 6 employees.