New Horizons Ministries Inc

Analysis

New Horizons Ministries Inc is a registered charity in United States, based in Canon City, CO. It received its IRS tax-exemption ruling in July 1993, 33 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, New Horizons Ministries Inc reported income of $9.8m and spending of $14.9m, spending 151% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $6.8m to $9.8m (+44%), an average of +9.5% a year. The sharpest change came in the year to June 2024, when income rose by 22%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Horizons Ministries Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within CO. Charities of a similar size with the same main cause include Girl Scouts of Connecticut Inc ($9.8m), Habitat for Humanity International Inc ($9.8m) and Cabarrus Cooperative Christian Ministry Inc ($9.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 89% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $244k (1.6% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $6.1m against liabilities of $2.3m, net assets of $3.9m. It reported 35 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.