Newark Betterment Corporation

Analysis

Newark Betterment Corporation is a registered charity in United States, based in Newark, CA. It received its IRS tax-exemption ruling in May 1994, 32 years ago. Its declared purposes cover community improvement and capacity building, 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 June 2023, Newark Betterment Corporation reported income of $190k and spending of $82k, leaving 57% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $190k to $190k (+0.1%), an average of +0.0% a year. The sharpest change came in the year to June 2023, when income rose by 134%. Over the whole period it spent 72% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Newark Betterment Corporation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 55th percentile within CA. Charities of a similar size with the same main cause include Society of American Indian Government Employees ($190k), Clarke Square Neighborhood Initiative Inc ($190k) and Midtown Inc ($190k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $383k against liabilities of $0, net assets of $383k.