New Ventures Inc

Analysis

New Ventures Inc is a registered charity in United States, based in Lagrange, GA. It received its IRS tax-exemption ruling in June 1972, 54 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 Ventures Inc reported income of $3.4m and spending of $3.9m, spending 114% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $5.7m to $3.4m (-40%), an average of -12% a year. The sharpest change came in the year to June 2024, when income dropped by 34%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Ventures Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within GA. Charities of a similar size with the same main cause include Challenge Industries Inc ($3.4m), Streetwise Partners Incorporated ($3.4m) and Marie Mills Center Inc ($3.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 8.2% and program service revenue 78% of the total. Other salaries and wages came to $1.7m. At year end it held assets of $4.6m against liabilities of $387k, net assets of $4.2m. It reported 111 employees.