New Century Foundation

Analysis

New Century Foundation is a registered charity in United States, based in Lynchburg, VA. It received its IRS tax-exemption ruling in June 1994, 32 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 December 2023, New Century Foundation reported income of $443k and spending of $495k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $402k to $443k (+10%), an average of +2.5% a year. The sharpest change came in the year to December 2020, when income rose by 174%. Over the whole period it spent 91% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Century Foundation sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within VA. Charities of a similar size with the same main cause include Friends of Barringtons White House NFP ($442k), Quality Support Solutions Inc ($443k) and Mid Iowa Development Fund Inc ($442k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $81k (16% of expenses). Other salaries and wages came to $136k. At year end it held assets of $2.1m against liabilities of $50k, net assets of $2.1m. It reported 3 employees.

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.