New Horizons for Community Bound Individuals Inc

Analysis

New Horizons for Community Bound Individuals Inc is a registered charity in United States, based in Hialeah, FL. It received its IRS tax-exemption ruling in January 1981, 45 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, New Horizons for Community Bound Individuals Inc reported income of $1.5m and spending of $1.6m, spending 106% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $1.5m to $1.5m (-0.7%), an average of -0.2% a year. The sharpest change came in the year to June 2023, when income rose by 28%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Horizons for Community Bound Individuals Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include Latin American Leadership Foundation Inc ($1.5m), Aerospace Museum of California Foundation ($1.5m) and Keystone Apprenticeship Trust Fund ($1.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 4.3% and program service revenue 95% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $437k against liabilities of $15k, net assets of $422k.

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.