Newhope Specialized Industries Inc

Analysis

Newhope Specialized Industries Inc is a registered charity in United States, based in Searcy, AR. It received its IRS tax-exemption ruling in June 1971, 55 years ago. 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, Newhope Specialized Industries Inc reported income of $914k and spending of $918k, spending 100% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $771k to $914k (+19%), an average of +4.4% a year. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Newhope Specialized Industries Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within AR. Charities of a similar size with the same main cause include Missouri Farmers Care Foundation ($914k), Sand Lake Ambulance Inc ($915k) and California Black Health Network ($914k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 14% and program service revenue 74% of the total. Other salaries and wages came to $613k. At year end it held assets of $2.3m against liabilities of $11k, net assets of $2.3m. It reported 10 employees.