New Day Inc of Spartanburg

Analysis

New Day Inc of Spartanburg is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in March 1988, 38 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 June 2024, New Day Inc of Spartanburg reported income of $555k and spending of $700k, spending 126% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $495k to $555k (+12%), an average of +2.9% a year. The sharpest change came in the year to June 2021, when income rose by 31%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Day Inc of Spartanburg 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 76th percentile within SC. Charities of a similar size with the same main cause include Able Hands Inc ($555k), The Wynn House Inc ($555k) and Greenco Industries Foundation Inc ($555k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 7.7% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $115k (16% of expenses). Other salaries and wages came to $236k. At year end it held assets of $1.3m against liabilities of $205k, net assets of $1.1m. It reported 15 employees.