New Horizons Inc

Analysis

New Horizons Inc is a registered charity in United States, based in Shreveport, LA. It received its IRS tax-exemption ruling in October 1984, 42 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 September 2023, New Horizons Inc reported income of $1.8m and spending of $1.7m, spending 98% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.3m to $1.8m (+33%), an average of +7.3% a year. The sharpest change came in the year to September 2021, when income rose by 20%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Horizons Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within LA. Charities of a similar size with the same main cause include Creative Housing III Inc ($1.8m), Mighell Fund Inc ($1.8m) and Coalition Against Rape and Abuse Inc ($1.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 36% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $44k (2.6% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $642k against liabilities of $139k, net assets of $503k. It reported 78 employees.