New American Community Lending Corporation

Analysis

New American Community Lending Corporation is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in September 2023, 3 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New American Community Lending Corporation reported income of $89k and spending of $396k, spending 445% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $704k to $89k (-87%), an average of -87% a year. The sharpest change came in the year to December 2023, when income dropped by 87%. Over the whole period it spent 63% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New American Community Lending Corporation sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 35th percentile within MD. Charities of a similar size with the same main cause include Delaware Creative Housing Hud 1 Inc ($89k), Adams Quest ($89k) and Ventura Vie ($89k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. Other salaries and wages came to $177k. At year end it held assets of $755k against liabilities of $460k, net assets of $295k.