New Hope Development Services Inc

Analysis

New Hope Development Services Inc is a registered charity in United States, based in Jeffersonvlle, IN. It received its IRS tax-exemption ruling in February 2018, 8 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, New Hope Development Services Inc reported income of $3.2m and spending of $1.6m, leaving 50% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $885k to $3.2m (+258%), an average of +38% a year. The sharpest change came in the year to June 2020, when income rose by 332%. Over the whole period it spent 44% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Hope Development Services Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within IN. Charities of a similar size with the same main cause include Missing Middle Housing Fund ($3.2m), Preservation Housing Partners ($3.2m) and Tempe Coalition for Affordable Housing Inc ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 8.8% of the total. Compensation of current officers, directors and key employees was $318k (20% of expenses). Other salaries and wages came to $45k. At year end it held assets of $14.1m against liabilities of $7.2m, net assets of $6.8m. It reported 3 employees.