New Horizons Affordable Housing and Development Inc

Analysis

New Horizons Affordable Housing and Development Inc is a registered charity in United States, based in Capitola, CA. It received its IRS tax-exemption ruling in August 2020, 6 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Horizons Affordable Housing and Development Inc reported income of $8.3m and spending of $2.6m, leaving 69% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income grew from $4.1m to $8.3m (+103%), an average of +42% a year. The sharpest change came in the year to June 2022, when income rose by 104%. Over the whole period it spent 30% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Horizons Affordable Housing and Development Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Depaul USA Inc ($8.3m), The Neighborhood Developers Inc ($8.3m) and Miller Memorial Community Inc ($8.3m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $22.3m against liabilities of $1.2m, net assets of $21.1m.