New Prospects Housing Corporation

Analysis

New Prospects Housing Corporation is a registered charity in United States, based in Greenville, SC. It received its IRS tax-exemption ruling in October 2003, 23 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, New Prospects Housing Corporation reported income of $177k and spending of $130k, leaving 27% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $104k to $177k (+71%), an average of +14% a year. The sharpest change came in the year to September 2022, when income rose by 48%. Over the whole period it spent 75% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Prospects Housing Corporation sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 56th percentile within SC. Charities of a similar size with the same main cause include Asi Henderson Inc ($177k), Riverview West Florissant Housing Development Corporation ($178k) and Rayo Planning ($177k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 45% and program service revenue 31% of the total. At year end it held assets of $753k against liabilities of $79k, net assets of $674k.