New Visions Housing Corporation

Analysis

New Visions Housing Corporation is a registered charity in United States, based in Reseda, CA. It received its IRS tax-exemption ruling in October 1995, 31 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, New Visions Housing Corporation reported income of $75k and spending of $170k, spending 228% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $67k to $75k (+12%), an average of +2.9% a year. The sharpest change came in the year to June 2022, when income rose by 15%. Over the whole period it spent 196% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Visions Housing Corporation sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 31st percentile within CA. Charities of a similar size with the same main cause include Community Alliance Housing Corporation VI ($75k), Fairview Terrace Apartments Inc ($75k) and Azure Heights Nonprofit Corporation ($75k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 17% of the total. At year end it held assets of $771k against liabilities of $1.0m, net assets of -$265k.

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.