New Beginnings Inc
New Beginnings Inc. shows consistent revenue growth and strong asset accumulation with no reported officer compensation.
EIN: 10360077 · Lewiston, ME · NTEE: P700 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.9M |
| Total Expenses | $3.8M |
| Program Spending | 85% |
| Net Assets | $5.1M |
| Transparency Score | 90/100 |
Is New Beginnings Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Beginnings Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Beginnings Inc
New Beginnings Inc (EIN: 10360077) is a nonprofit organization based in Lewiston, ME, classified under NTEE code P700. The organization reported total revenue of $1.9M and total assets of $5.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Beginnings Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Beginnings Inc is a mid-size nonprofit that has been operating for 47 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 3.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.1M |
| Total Expenses | $3.8M |
| Surplus / Deficit | +$269K |
| Total Assets | $6.3M |
| Total Liabilities | $1.2M |
| Net Assets | $5.1M |
| Operating Margin | 6.6% |
| Debt-to-Asset Ratio | 18.4% |
| Months of Reserves | 19.6 months |
Financial Health Grade: A
In 2023, New Beginnings Inc reported a surplus of $269K with revenue exceeding expenses, holds 19.6 months of operating reserves (strong position), has a debt-to-asset ratio of 18.4% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), New Beginnings Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.3% | +14.9% | +0.7% |
| 2022 | +39.1% | +11.7% | +25.3% |
| 2021 | -11.0% | -1.6% | -1.7% |
| 2020 | +22.3% | -0.4% | +5.4% |
| 2019 | -19.2% | +6.9% | -8.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1979 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates New Beginnings 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 Beginnings 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $269K, with revenue exceeding expenses.
- Debt-to-asset ratio: 18.4%.
Executive Compensation Analysis
New Beginnings Inc. consistently reports 0% officer compensation across all available filings, indicating that no portion of their expenses is allocated to executive salaries. This is highly commendable and suggests a strong dedication to maximizing resources for programmatic activities.
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.
Strengths
The following positive indicators were identified for New Beginnings Inc:
- Consistent revenue growth, reaching $4,107,162 in 2023.
- Strong asset accumulation, with assets growing to $6,264,114 in 2023.
- No reported officer compensation across all filings, indicating high program focus.
- Expenses generally below revenue, allowing for healthy financial reserves.
- Decreasing liabilities in the most recent filing (from $1,608,422 in 2022 to $1,154,623 in 2023).
Frequently Asked Questions about New Beginnings Inc
Is New Beginnings Inc a legitimate charity?
New Beginnings Inc (EIN: 10360077) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 90/100. It has 14 years of IRS 990 filings on record. Total revenue: $1.9M. No red flags identified. 5 strengths noted. Financial health grade: A.
How does New Beginnings Inc spend its money?
New Beginnings Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to New Beginnings Inc tax-deductible?
New Beginnings Inc is registered as a tax-exempt nonprofit (EIN: 10360077). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of New Beginnings Inc's spending goes to programs?
New Beginnings Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does New Beginnings Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), New Beginnings Inc is above average for NTEE category P700 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is New Beginnings Inc located?
New Beginnings Inc is headquartered in Lewiston, Maine and files with the IRS under EIN 10360077. It is classified under NTEE code P700.
How many years of IRS 990 filings does New Beginnings Inc have?
New Beginnings Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.9M in total revenue.
Is New Beginnings Inc. financially stable?
Yes, New Beginnings Inc. appears financially stable, with consistent revenue growth (e.g., $4,107,162 in 2023) and growing net assets ($6,264,114 in 2023), indicating a healthy financial position.
How efficiently does New Beginnings Inc. use its funds?
The organization appears efficient, as expenses have generally been below or close to revenue, allowing for asset growth. The consistent 0% officer compensation also suggests a high degree of efficiency in directing funds to its mission.
What is the trend in New Beginnings Inc.'s revenue?
New Beginnings Inc. has shown a positive revenue trend, increasing from $2,943,859 in 2021 to $4,107,162 in 2023, indicating growing support and activity.
Filing History
IRS 990 filing history for New Beginnings Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), New Beginnings Inc's revenue has grown by 46.6%, moving from $2.8M to $4.1M. Total assets increased by 135.5% over the same period, from $2.7M to $6.3M. Total functional expenses rose by 57.4%, from $2.4M to $3.8M. In its most recent filing year (2023), New Beginnings Inc reported a surplus of $269K, with revenue exceeding expenses. The organization holds $1.2M in liabilities against $6.3M in assets (debt-to-asset ratio: 18.4%), resulting in net assets of $5.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.1M | $3.8M | $6.3M | $1.2M | — | — |
| 2022 | $4.1M | $3.3M | $6.2M | $1.6M | — | — |
| 2021 | $2.9M | $3.0M | $5.0M | $973K | — | View 990 |
| 2020 | $3.3M | $3.0M | $5.0M | $1.0M | — | — |
| 2019 | $2.7M | $3.1M | $4.8M | $1.0M | — | View 990 |
| 2018 | $3.3M | $2.9M | $5.2M | $1.2M | — | View 990 |
| 2017 | $2.7M | $2.7M | $4.7M | $1.1M | — | View 990 |
| 2016 | $2.5M | $2.5M | $4.7M | $1.1M | — | View 990 |
| 2015 | $3.0M | $2.6M | $4.8M | $1.1M | — | View 990 |
| 2014 | $3.3M | $2.5M | $4.6M | $1.4M | — | View 990 |
| 2013 | $2.6M | $2.3M | $3.5M | $1.1M | — | View 990 |
| 2012 | $2.7M | $2.6M | $3.2M | $1.2M | — | View 990 |
| 2011 | $2.8M | $2.6M | $3.1M | $1.2M | — | View 990 |
| 2010 | $2.8M | $2.4M | $2.7M | $1.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.1M, expenses of $3.8M, and assets of $6.3M (revenue +0.3% year-over-year).
- 2022: Revenue of $4.1M, expenses of $3.3M, and assets of $6.2M (revenue +39.1% year-over-year).
- 2021: Revenue of $2.9M, expenses of $3.0M, and assets of $5.0M (revenue -11.0% year-over-year).
- 2020: Revenue of $3.3M, expenses of $3.0M, and assets of $5.0M (revenue +22.3% year-over-year).
- 2019: Revenue of $2.7M, expenses of $3.1M, and assets of $4.8M (revenue -19.2% year-over-year).
- 2018: Revenue of $3.3M, expenses of $2.9M, and assets of $5.2M (revenue +25.3% year-over-year).
- 2017: Revenue of $2.7M, expenses of $2.7M, and assets of $4.7M (revenue +7.4% year-over-year).
- 2016: Revenue of $2.5M, expenses of $2.5M, and assets of $4.7M (revenue -16.8% year-over-year).
- 2015: Revenue of $3.0M, expenses of $2.6M, and assets of $4.8M (revenue -8.7% year-over-year).
- 2014: Revenue of $3.3M, expenses of $2.5M, and assets of $4.6M (revenue +23.8% year-over-year).
- 2013: Revenue of $2.6M, expenses of $2.3M, and assets of $3.5M (revenue -1.0% year-over-year).
- 2012: Revenue of $2.7M, expenses of $2.6M, and assets of $3.2M (revenue -4.9% year-over-year).
- 2011: Revenue of $2.8M, expenses of $2.6M, and assets of $3.1M (revenue +0.3% year-over-year).
- 2010: Revenue of $2.8M, expenses of $2.4M, and assets of $2.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Beginnings Inc:
Data Sources and Methodology
This transparency report for New Beginnings 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.