New Life Foundation

Analysis

New Life Foundation is a registered charity in United States, based in Burns, TN. It received its IRS tax-exemption ruling in December 1983, 43 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Life Foundation reported income of $110k and spending of $110k, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $110k to $110k (+0.2%), an average of +0.0% a year. The sharpest change came in the year to June 2021, when income rose by 759%. Over the whole period it spent 43% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Life Foundation sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 39th percentile within TN. Charities of a similar size with the same main cause include Subhani Foundation ($110k), Stoutland Senior Citizens Organization ($110k) and Corpus Christi Area Measurement Society Inc ($110k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.6% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $16k (14% of expenses). Other salaries and wages came to $26k. At year end it held assets of $1.5m against liabilities of $950, net assets of $1.5m. It reported 2 employees.