New Futures Inc

Analysis

New Futures Inc is a registered charity in United States, based in Huntsville, AL. It received its IRS tax-exemption ruling in October 1996, 30 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Futures Inc reported income of $306k and spending of $265k, spending 87% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $398k to $306k (-23%), an average of -23% a year. The sharpest change came in the year to December 2023, when income dropped by 23%. Over the whole period it spent 84% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Futures Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within AL. Charities of a similar size with the same main cause include Prestwick Community Outreach Inc ($306k), Hitching Post Ministries ($306k) and Successful Connections Inc ($306k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 6.2% of the total. Other salaries and wages came to $127k. At year end it held assets of $567k against liabilities of $330k, net assets of $237k. It reported 4 employees.