Centro Nuevos Horizontes Inc

Analysis

Centro Nuevos Horizontes Inc is a registered charity in United States, based in Bayamon, PR. It received its IRS tax-exemption ruling in January 2001, 25 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 April 2024, Centro Nuevos Horizontes Inc reported income of $141k and spending of $194k, spending 137% of what it took in. Across the 5 years on record, from April 2020 to April 2024, income fell from $177k to $141k (-20%), an average of -5.5% a year. The sharpest change came in the year to April 2021, when income dropped by 29%. Over the whole period it spent 142% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Centro Nuevos Horizontes Inc sits at the 41st percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 31st percentile within PR. Charities of a similar size with the same main cause include Lesye Anye Inc ($141k), Ivy & Pearls for Excellence Inc ($141k) and Beyond Communities Inc ($141k).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 98% of the total. Other salaries and wages came to $103k. At year end it held assets of $204k against liabilities of $79k, net assets of $126k. It reported 9 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.