New Horizons Resources Inc

Analysis

New Horizons Resources Inc is a registered charity in United States, based in Pleasant Valley, NY. It received its IRS tax-exemption ruling in May 1974, 52 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 Horizons Resources Inc reported income of $34.4m and spending of $33.3m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $29.1m to $34.4m (+18%), an average of +4.3% a year. The sharpest change came in the year to December 2022, when income rose by 24%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Horizons Resources Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Southern Mississippi Planning and Development District Inc ($34.4m), Young Americas Foundation ($34.4m) and New York City Criminal Justice Agency ($34.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.5% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $569k (1.7% of expenses). Other salaries and wages came to $20.6m. At year end it held assets of $27.0m against liabilities of $8.1m, net assets of $18.9m. It reported 546 employees.