A New Horizon Inc

Analysis

A New Horizon Inc is a registered charity in United States, based in Columbia, MD. It received its IRS tax-exemption ruling in September 2019, 7 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 June 2023, A New Horizon Inc reported income of $775k and spending of $656k, spending 85% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $508k to $775k (+53%), an average of +53% a year. The sharpest change came in the year to June 2023, when income rose by 53%. Over the whole period it spent 82% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, A New Horizon Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MD. Charities of a similar size with the same main cause include Adoptando En PR Inc ($775k), In Return ($775k) and Advocates of Silenced Turkey Inc ($775k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.9% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $59k (9.0% of expenses). Other salaries and wages came to $376k. At year end it held assets of $512k against liabilities of $358k, net assets of $154k. It reported 2 employees.