Forjando UN Nuevo Comienzo Corp

Analysis

Forjando UN Nuevo Comienzo Corp is a registered charity in United States, based in Guaynabo, PR. It received its IRS tax-exemption ruling in June 2016, 10 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 September 2023, Forjando UN Nuevo Comienzo Corp reported income of $1.3m and spending of $937k, leaving 25% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.2m to $1.3m (+4.6%), an average of +1.1% a year. The sharpest change came in the year to September 2021, when income rose by 75%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Forjando UN Nuevo Comienzo Corp sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 75th percentile within PR. Charities of a similar size with the same main cause include Richmond Interagency Transportation Inc ($1.3m), Womens Foundation of Mississippi ($1.3m) and Forward Stride ($1.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 85% of the total. Compensation of current officers, directors and key employees was $69k (7.4% of expenses). Other salaries and wages came to $534k. At year end it held assets of $540k against liabilities of $3,748, net assets of $536k. It reported 118 employees.