New Life Ministries

Analysis

New Life Ministries is a registered charity in United States, based in Richardson, TX. It received its IRS tax-exemption ruling in June 1999, 27 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 December 2023, New Life Ministries reported income of $8.5m and spending of $8.7m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.9m to $8.5m (+8.2%), an average of +2.0% a year. Over the whole period it spent 97% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, New Life Ministries sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 96th percentile within TX. Charities of a similar size with the same main cause include Friends of Agape Inc ($8.5m), JCC Charitable Project Inc ($8.5m) and Nextbook Inc ($8.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $742k (8.5% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $1.7m against liabilities of $1.9m, net assets of -$183k. It reported 46 employees.