New Beginnings

Analysis

New Beginnings is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in October 1977, 49 years ago. 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 Beginnings reported income of $5.3m and spending of $6.1m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.1m to $5.3m (+71%), an average of +14% a year. The sharpest change came in the year to December 2020, when income rose by 30%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Beginnings sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within WA. Charities of a similar size with the same main cause include New Garden Friends School Inc ($5.3m), Newhouse Inc ($5.4m) and Guiding Light Mission Inc ($5.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $154k (2.5% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $4.0m against liabilities of $2.1m, net assets of $1.9m. It reported 80 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.