Newstart Housing Corporation

Analysis

Newstart Housing Corporation is a registered charity in United States, based in Huntington PK, CA. It received its IRS tax-exemption ruling in July 1985, 41 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Newstart Housing Corporation reported income of $2.3m and spending of $2.6m, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.9m to $2.3m (+21%), an average of +5.0% a year. The sharpest change came in the year to June 2022, when income rose by 40%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Newstart Housing Corporation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within CA. Charities of a similar size with the same main cause include The Magdalen House ($2.3m), North Carolina Coalition Against Sexual Assault Inc ($2.3m) and New York Section American Camping Association Inc ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.1% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $118k (4.5% of expenses). Other salaries and wages came to $505k. At year end it held assets of $13.2m against liabilities of $17.3m, net assets of -$4.1m. It reported 13 employees.