Mars New Year

Analysis

Mars New Year is a registered charity in United States, based in Mars, PA. It received its IRS tax-exemption ruling in May 2021, 5 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 December 2023, Mars New Year reported income of $82k and spending of $87k, spending 107% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $23k to $82k (+259%), an average of +259% a year. The sharpest change came in the year to December 2023, when income rose by 259%. Over the whole period it spent 118% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Mars New Year sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 30th percentile within PA. Charities of a similar size with the same main cause include Rock Bridge High School Show Choir Boosters ($82k), Big Bend Ranch Rodeo Inc ($82k) and Hawaii Culinary Education Foundation ($82k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 81% of the total. At year end it held assets of $11k against liabilities of $0, net assets of $11k.