Neola Betterment Corporation

Analysis

Neola Betterment Corporation is a registered charity in United States, based in Neola, IA. It received its IRS tax-exemption ruling in April 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Neola Betterment Corporation reported income of $224k and spending of $198k, spending 88% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $66k to $224k (+237%), an average of +84% a year. The sharpest change came in the year to December 2022, when income rose by 839%. Over the whole period it spent 35% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Neola Betterment Corporation sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 57th percentile within IA. Charities of a similar size with the same main cause include Caritas Manor Inc ($224k), Rubicon Homes ($224k) and Shalom House Inc ($224k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 68% of the total. At year end it held assets of $1.9m against liabilities of $992k, net assets of $879k.