New Haven Promise Inc

Analysis

New Haven Promise Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in May 2016, 10 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 2024, New Haven Promise Inc reported income of $5.3m and spending of $5.2m, spending 98% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $4.9m to $5.3m (+7.3%), an average of +1.8% a year. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Haven Promise Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within CT. Charities of a similar size with the same main cause include Alameda Emergency Food ($5.3m), YWCA Tulsa Inc ($5.3m) and Oregon Community Warehouse Inc ($5.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $231k (4.4% of expenses). Other salaries and wages came to $417k. It paid $38k in professional fundraising fees. At year end it held assets of $2.2m against liabilities of $107k, net assets of $2.1m. It reported 7 employees.