New Way Mississippi Inc

Analysis

New Way Mississippi Inc is a registered charity in United States, based in Jackson, MS. It received its IRS tax-exemption ruling in February 2003, 23 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Way Mississippi Inc reported income of $829k and spending of $1.0m, spending 124% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income fell from $1.4m to $829k (-39%), an average of -15% a year. The sharpest change came in the year to December 2020, when income dropped by 43%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Way Mississippi Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 79th percentile within MS. Charities of a similar size with the same main cause include Trinity Lutheran Early Education Center ($829k), Stag Vets Inc ($829k) and Texas Alliance of Ymcas ($829k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 53% of the total. At year end it held assets of $1.3m against liabilities of $1.3m, net assets of -$13k. It reported 5 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.