New Chance Inc
EIN: 372040108 · Anchorage, AK · NTEE: P20
Is New Chance Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About New Chance Inc
New Chance Inc (EIN: 372040108) is a nonprofit organization based in Anchorage, AK, classified under NTEE code P20. The organization reported total revenue of $1.6M and total assets of $596K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Chance Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Chance Inc is a mid-size nonprofit that has been operating for 3 years.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $716K |
| Total Expenses | $546K |
| Surplus / Deficit | +$171K |
| Total Assets | $505K |
| Total Liabilities | $335K |
| Net Assets | $171K |
| Operating Margin | 23.8% |
| Debt-to-Asset Ratio | 66.2% |
| Months of Reserves | 11.1 months |
Financial Health Grade: A
In 2023, New Chance Inc reported a surplus of $171K with revenue exceeding expenses, holds 11.1 months of operating reserves (strong position), has a debt-to-asset ratio of 66.2% (high leverage).
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2023 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for New Chance Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates New Chance Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $171K, with revenue exceeding expenses.
- Debt-to-asset ratio: 66.2%.
Frequently Asked Questions about New Chance Inc
Is New Chance Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, New Chance Inc (EIN: 372040108) insufficient data. 0 red flags identified, 0 strengths noted.
How does New Chance Inc spend its money?
Detailed spending breakdown data is not yet available for New Chance Inc. Check back for updated IRS 990 analysis.
Are donations to New Chance Inc tax-deductible?
New Chance Inc is registered as a tax-exempt nonprofit (EIN: 372040108). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for New Chance Inc showing financial trends over 1 year of public records:
In its most recent filing year (2023), New Chance Inc reported a surplus of $171K, with revenue exceeding expenses. The organization holds $335K in liabilities against $505K in assets (debt-to-asset ratio: 66.2%), resulting in net assets of $171K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $716K | $546K | $505K | $335K | — | — |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Chance Inc:
Data Sources and Methodology
This transparency report for New Chance 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.