The Foundation for Newlife Homes

Analysis

The Foundation for Newlife Homes is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in April 2007, 19 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2023, The Foundation for Newlife Homes reported income of $94k and spending of $217k, spending 231% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $230k to $94k (-59%), an average of -26% a year. The sharpest change came in the year to June 2023, when income dropped by 62%. Over the whole period it spent 87% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Foundation for Newlife Homes sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 31st percentile within NM. Charities of a similar size with the same main cause include Root Cause Uganda ($94k), Warrior Bags ($94k) and The United Way of Gentry Inc ($94k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $129k (60% of expenses). At year end it held assets of $2.1m against liabilities of $54k, net assets of $2.1m.