New Morning

Analysis

New Morning is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in July 2002, 24 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Morning reported income of $7.2m and spending of $10.8m, spending 150% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $16.4m to $7.2m (-56%), an average of -18% a year. The sharpest change came in the year to June 2023, when income dropped by 35%. Over the whole period it spent 109% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, New Morning sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 96th percentile within SC. Charities of a similar size with the same main cause include New York City Partnership Foundation Inc ($7.2m), Juneau Community Foundation ($7.2m) and Sparkjoy Foundation ($7.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $200k (1.9% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $5.4m against liabilities of $649k, net assets of $4.8m. It reported 25 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.