Friends of New World Prep Inc

Analysis

Friends of New World Prep Inc is a registered charity in United States, based in Staten Island, NY. It received its IRS tax-exemption ruling in May 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Friends of New World Prep Inc reported income of $5.9m and spending of $1.1m, leaving 82% of income unspent that year. The sharpest change came in the year to June 2021, when income rose by 1033%. Over the whole period it spent 8.5% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of New World Prep Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Sacramento Valley Charter School ($5.9m), St Hope Leadership Academy ($5.9m) and Nacada the Global Community for Academic Advising Inc ($5.9m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 83% of the total. At year end it held assets of $71.5m against liabilities of $58.1m, net assets of $13.4m.