Newlife Homes Inc

Analysis

Newlife Homes Inc is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in April 1993, 33 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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, Newlife Homes Inc reported income of $573k and spending of $732k, spending 128% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $560k to $573k (+2.3%), an average of +0.7% a year. Over the whole period it spent 135% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Newlife Homes Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within NM. Charities of a similar size with the same main cause include Equestrians Institute ($573k), Humphrey Community Foundation ($573k) and Missouri Propane Safety Commission ($573k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $29k (3.9% of expenses). Other salaries and wages came to $59k. At year end it held assets of $7.4m against liabilities of $7.7m, net assets of -$305k. It reported 1 employees.

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.