New Nearly New Inc

Analysis

New Nearly New Inc is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in April 2021, 5 years ago. Its declared purposes cover human services, 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 December 2023, New Nearly New Inc reported income of $722k and spending of $705k, spending 98% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $541k to $722k (+34%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 29%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Nearly New 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 75th percentile, and in the 75th percentile within NC. Charities of a similar size with the same main cause include Lighthouse Academy Palm Beach Inc ($722k), Scott County Family YMCA Inc ($722k) and Sayre Child Center ($722k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $81k (12% of expenses). Other salaries and wages came to $279k. At year end it held assets of $109k against liabilities of $0, net assets of $109k. It reported 26 employees.