New 2 You Family Thrift Inc

New 2 You Family Thrift Inc shows consistent growth and no officer compensation, operating near break-even.

EIN: 205871265 · North Mankato, MN · NTEE: P29 · Updated: 2026-03-28

$365KRevenue

$98KAssets

90/100Mission Score (Excellent)

P29

About New 2 You Family Thrift Inc

New 2 You Family Thrift Inc (EIN: 205871265) is a nonprofit organization based in North Mankato, MN, classified under NTEE code P29. The organization reported total revenue of $365K and total assets of $98K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New 2 You Family Thrift Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

New 2 You Family Thrift Inc demonstrates consistent financial activity, with revenues and expenses generally increasing over the past decade. In the latest filing (202312), the organization reported revenues of $373,953 against expenses of $375,647, indicating a slight operational deficit for that period. However, the organization has shown growth in assets, from $48,033 in 2014 to $83,839 in 2023, suggesting a stable, albeit modest, financial foundation. The consistent reporting of 0% officer compensation across all available filings indicates a strong commitment to directing funds towards the organization's mission rather than executive salaries, enhancing its transparency and public trust.

The organization's financial health appears stable, with a history of managing expenses closely to revenue. While there are periods of slight deficits, these are generally minor and do not appear to threaten the organization's long-term viability given its asset growth. The NTEE code P29 (Thrift Shops) aligns with its mission, and the financial data supports its operational model as a thrift store. The absence of officer compensation is a significant positive indicator of financial efficiency and a focus on mission-driven spending.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates New 2 You Family Thrift Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 85%
fundraising: 5%

According to IRS 990 filings, New 2 You Family Thrift Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive salaries from the organization, which is highly commendable for a small nonprofit with revenues under $400,000.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of New 2 You Family Thrift Inc's IRS 990 filings:

Occasional slight operational deficits (e.g., 202312: Expenses $375,647 > Revenue $373,953)

Strengths

The following positive indicators were identified for New 2 You Family Thrift Inc:

Consistent revenue growth over the past decade
0% officer compensation reported across all filings, indicating high efficiency and mission focus
Steady growth in assets, from $48,033 in 2014 to $83,839 in 2023
Long history of IRS 990 filings (13 filings), indicating transparency and compliance

Frequently Asked Questions about New 2 You Family Thrift Inc

Is New 2 You Family Thrift Inc a good charity?

Based on the available IRS 990 data, New 2 You Family Thrift Inc appears to be a good charity. It demonstrates consistent financial operations, growth in assets, and a strong commitment to its mission by reporting 0% officer compensation across all filings.

How has New 2 You Family Thrift Inc's revenue changed over time?

New 2 You Family Thrift Inc has shown significant revenue growth, increasing from $201,938 in 2014 to $373,953 in 2023, nearly doubling its revenue over the decade.

What is the organization's approach to executive compensation?

The organization reports 0% officer compensation in all available filings, indicating a volunteer-led or unpaid executive structure, which is a strong positive for directing funds to programs.

Filing History

IRS 990 filing history for New 2 You Family Thrift Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), New 2 You Family Thrift Inc's revenue has grown by 63%, moving from $229K to $374K. Total assets increased by 127.3% over the same period, from $37K to $84K. Total functional expenses rose by 48.9%, from $252K to $376K. In its most recent filing year (2023), New 2 You Family Thrift Inc reported a deficit of $2K, with expenses exceeding revenue. The organization holds $5K in liabilities against $84K in assets (debt-to-asset ratio: 6.2%), resulting in net assets of $79K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$374K	$376K	$84K	$5K	—	—
2022	$349K	$331K	$84K	$3K	—	View 990
2021	$293K	$270K	$66K	$4K	—	View 990
2020	$200K	$218K	$43K	$4K	—	View 990
2019	$227K	$216K	$58K	$770	—	View 990
2018	$226K	$222K	$48K	$706	—	View 990
2017	$207K	$209K	$50K	$7K	—	View 990
2016	$214K	$216K	$46K	$1K	—	View 990
2015	$211K	$207K	$49K	$2K	—	View 990
2014	$202K	$208K	$48K	$5K	—	View 990
2013	$203K	$210K	$53K	$4K	—	View 990
2012	$235K	$215K	$60K	$3K	—	View 990
2011	$229K	$252K	$37K	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $374K, expenses of $376K, and assets of $84K (revenue +7.3% year-over-year).
2022: Revenue of $349K, expenses of $331K, and assets of $84K (revenue +18.8% year-over-year).
2021: Revenue of $293K, expenses of $270K, and assets of $66K (revenue +46.3% year-over-year).
2020: Revenue of $200K, expenses of $218K, and assets of $43K (revenue -11.7% year-over-year).
2019: Revenue of $227K, expenses of $216K, and assets of $58K (revenue +0.4% year-over-year).
2018: Revenue of $226K, expenses of $222K, and assets of $48K (revenue +9.1% year-over-year).
2017: Revenue of $207K, expenses of $209K, and assets of $50K (revenue -3.1% year-over-year).
2016: Revenue of $214K, expenses of $216K, and assets of $46K (revenue +1.3% year-over-year).
2015: Revenue of $211K, expenses of $207K, and assets of $49K (revenue +4.6% year-over-year).
2014: Revenue of $202K, expenses of $208K, and assets of $48K (revenue -0.4% year-over-year).
2013: Revenue of $203K, expenses of $210K, and assets of $53K (revenue -13.5% year-over-year).
2012: Revenue of $235K, expenses of $215K, and assets of $60K (revenue +2.2% year-over-year).
2011: Revenue of $229K, expenses of $252K, and assets of $37K.

Data Sources and Methodology

This transparency report for New 2 You Family Thrift Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.