New Beginnings Hickory

Analysis

New Beginnings Hickory is a registered charity in United States, based in Hickory, NC. It received its IRS tax-exemption ruling in February 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Beginnings Hickory reported income of $338k and spending of $281k, spending 83% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $235k to $338k (+44%), an average of +20% a year. The sharpest change came in the year to December 2022, when income rose by 41%. Over the whole period it spent 80% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Beginnings Hickory sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 62nd percentile within NC. Charities of a similar size with the same main cause include Elder Love USA Inc ($338k), Evergreen Rotary Foundation Inc ($338k) and Paraklesis Inc ($338k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $56k (20% of expenses). Other salaries and wages came to $97k. At year end it held assets of $243k against liabilities of $6,239, net assets of $237k. It reported 10 employees.