New Futures

Analysis

New Futures is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in December 1999, 27 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 Futures reported income of $1.8m and spending of $2.1m, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.8m (+25%), an average of +5.7% a year. The sharpest change came in the year to December 2020, when income rose by 117%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Futures sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 64th percentile within DC. Charities of a similar size with the same main cause include Shelter for Help in Emergency ($1.8m), Stack Up ($1.8m) and Trumbull Loves Children T L C Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. Compensation of current officers, directors and key employees was $168k (7.9% of expenses). Other salaries and wages came to $879k. It paid $80k in professional fundraising fees. At year end it held assets of $2.6m against liabilities of $1.3m, net assets of $1.2m. It reported 16 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.