New Growth Project

Analysis

New Growth Project is a registered charity in United States, based in Rockford, MI. It received its IRS tax-exemption ruling in May 2022, 4 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 Growth Project reported income of $219k and spending of $254k, spending 116% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $280k to $219k (-22%), an average of -22% a year. The sharpest change came in the year to December 2023, when income dropped by 22%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, New Growth Project sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 55th percentile within MI. Charities of a similar size with the same main cause include Friends Inc ($219k), Christian Womens Job Corp of Madison County Alabama Inc ($219k) and The College for Behavorial Health Leadership ($219k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 69% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $48k (19% of expenses). Other salaries and wages came to $79k. At year end it held assets of $67k against liabilities of $29k, net assets of $38k. It reported 17 employees.