New Directions Housing Corporation

Analysis

New Directions Housing Corporation is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in May 1972, 54 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 2023, New Directions Housing Corporation reported income of $21.0m and spending of $12.3m, leaving 41% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.6m to $21.0m (+178%), an average of +29% a year. The sharpest change came in the year to June 2023, when income rose by 116%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Directions Housing Corporation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within KY. Charities of a similar size with the same main cause include Seeds of Health ($21.0m), Concord Nursing Home Inc ($21.0m) and Futures Without Violence ($21.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $865k (7.0% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $33.7m against liabilities of $12.8m, net assets of $20.9m. It reported 105 employees.