New Hill Development Corporation

Analysis

New Hill Development Corporation is a registered charity in United States, based in Charlottesvle, VA. It received its IRS tax-exemption ruling in December 2018, 8 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 December 2022, New Hill Development Corporation reported income of $455k and spending of $457k, spending 100% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $592k to $455k (-23%), an average of -8.4% a year. The sharpest change came in the year to December 2021, when income rose by 102%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Hill Development Corporation sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within VA. Charities of a similar size with the same main cause include Our Community Hunger Center Inc ($455k), Ashland Emergency Food Bank ($455k) and Gateway of Grace ($455k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 70% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $31k (6.8% of expenses). At year end it held assets of $87k against liabilities of $46k, net assets of $42k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.