New World Center Foundation Inc

Analysis

New World Center Foundation Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in July 1980, 46 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 December 2023, New World Center Foundation Inc reported income of $1.7m and spending of $1.7m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.7m (+21%), an average of +4.8% a year. The sharpest change came in the year to December 2022, when income rose by 39%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New World Center Foundation Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include Royal Oak Youth Soccer Assoc ($1.7m), Butler County United Way ($1.7m) and Monroe County Historical Society Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $136k (8.0% of expenses). Other salaries and wages came to $150k. At year end it held assets of $9.8m against liabilities of $3.2m, net assets of $6.6m. It reported 1 employees.