New Horizons Corp

Analysis

New Horizons Corp is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in December 1972, 54 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 June 2023, New Horizons Corp reported income of $5.9m and spending of $6.0m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $6.8m to $5.9m (-12%), an average of -3.3% a year. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Horizons Corp sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within TN. Charities of a similar size with the same main cause include Political Economy Research Center Inc ($5.9m), Hobart Ames Foundation ($5.9m) and Memphis Goodwill Industries Inc ($5.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $216k (3.6% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $6.0m against liabilities of $565k, net assets of $5.4m. It reported 194 employees.