New Food Economy Inc

Analysis

New Food Economy Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 2019, 7 years ago. Its declared purposes cover food, agriculture and nutrition, 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 September 2023, New Food Economy Inc reported income of $70k and spending of $174k, spending 250% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.6m to $70k (-96%), an average of -54% a year. The sharpest change came in the year to September 2020, when income rose by 313%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Food Economy Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 28th percentile within NY. Charities of a similar size with the same main cause include Holmes Christmas Club ($70k), Working Mission ($70k) and Bradleys Equine Assisted Therapeutic Riding Center Inc ($70k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $32k against liabilities of $19k, net assets of $13k.

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.