New Hope Apartments Inc

Analysis

New Hope Apartments Inc is a registered charity in United States, based in Hohenwald, TN. It received its IRS tax-exemption ruling in July 1999, 27 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2024, New Hope Apartments Inc reported income of $147k and spending of $213k, spending 145% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $130k to $147k (+13%), an average of +2.5% a year. Over the whole period it spent 125% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Hope Apartments Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 47th percentile within TN. Charities of a similar size with the same main cause include Sparrow Place ($147k), Canticle Place Inc ($147k) and Partridge Place ($147k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 47% and program service revenue 52% of the total. Other salaries and wages came to $46k. At year end it held assets of $442k against liabilities of $117k, net assets of $325k. It reported 2 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.