New Hope Bible Way Church Of Middletown Connecticut
New Hope Bible Way Church: Financials Show Inconsistent Reporting and Potential Solvency Issues
EIN: 223026430 · Middletown, CT · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Expenses | $38K |
| Program Spending | 70% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $330K |
| Transparency Score | 60/100 |
Is New Hope Bible Way Church Of Middletown Connecticut Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Hope Bible Way Church Of Middletown Connecticut directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About New Hope Bible Way Church Of Middletown Connecticut
New Hope Bible Way Church Of Middletown Connecticut (EIN: 223026430) is a nonprofit organization based in Middletown, CT. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Hope Bible Way Church Of Middletown Connecticut's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Hope Bible Way Church Of Middletown Connecticut is a micro nonprofit that has been operating for 35 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of -0.8%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $42K |
| Total Expenses | $38K |
| Surplus / Deficit | +$3K |
| Total Assets | $330K |
| Net Assets | $330K |
| Operating Margin | 7.9% |
| Months of Reserves | 103.3 months |
Financial Health Grade: A
In 2021, New Hope Bible Way Church Of Middletown Connecticut reported a surplus of $3K with revenue exceeding expenses, holds 103.3 months of operating reserves (strong position).
Financial Trends
Over 11 years of filings (2011–2021), New Hope Bible Way Church Of Middletown Connecticut's revenue has declined at a compound annual growth rate (CAGR) of -0.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | +11.4% | +82.0% | -1.0% |
| 2020 | +122.0% | -11.9% | +33331400.0% |
| 2019 | -63.2% | -32.4% | -100.0% |
| 2018 | -7.3% | -4.8% | +7.8% |
| 2017 | +56.3% | +98.1% | +2.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 1991 |
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 Hope Bible Way Church Of Middletown Connecticut with a Mission Score of 60 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, New Hope Bible Way Church Of Middletown Connecticut allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $3K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, which may indicate it is paid by a related entity or not disclosed.
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 Hope Bible Way Church Of Middletown Connecticut's IRS 990 filings:
- The reported assets of $1 in 2019 are highly suspicious and suggest a significant reporting error or omission.
- The sudden disappearance of all liabilities from 2019 onwards, after years of significant debt, lacks explanation.
- Consistent 0% compensation reported for all years raises questions about how leadership is compensated or if it's accurately disclosed.
- The large increase in assets from $1 in 2019 to $330,000 in 2021 without corresponding revenue spikes or liability changes is a major red flag.
Strengths
The following positive indicators were identified for New Hope Bible Way Church Of Middletown Connecticut:
- The organization consistently reports expenses, indicating ongoing operations.
Frequently Asked Questions about New Hope Bible Way Church Of Middletown Connecticut
Is New Hope Bible Way Church Of Middletown Connecticut a legitimate charity?
New Hope Bible Way Church Of Middletown Connecticut (EIN: 223026430) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 60/100. It has 11 years of IRS 990 filings on record. 4 red flags identified. 1 strength noted. Financial health grade: A.
How does New Hope Bible Way Church Of Middletown Connecticut spend its money?
New Hope Bible Way Church Of Middletown Connecticut directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to New Hope Bible Way Church Of Middletown Connecticut tax-deductible?
New Hope Bible Way Church Of Middletown Connecticut is registered as a tax-exempt nonprofit (EIN: 223026430). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the New Hope Bible Way Church Of Middletown Connecticut CEO make?
New Hope Bible Way Church Of Middletown Connecticut's highest-compensated officer earns $0 annually. Executive compensation data is disclosed in IRS 990 filings.
What percentage of New Hope Bible Way Church Of Middletown Connecticut's spending goes to programs?
New Hope Bible Way Church Of Middletown Connecticut directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is New Hope Bible Way Church Of Middletown Connecticut located?
New Hope Bible Way Church Of Middletown Connecticut is headquartered in Middletown, Connecticut and files with the IRS under EIN 223026430.
How many years of IRS 990 filings does New Hope Bible Way Church Of Middletown Connecticut have?
New Hope Bible Way Church Of Middletown Connecticut has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
What does New Hope Bible Way Church Of Middletown Connecticut do?
New Hope Bible Way Church Of Middletown Connecticut is a nonprofit organization in the Unknown sector, located in Middletown, Connecticut. It is classified under NTEE code Unknown.
How much revenue does New Hope Bible Way Church Of Middletown Connecticut have?
New Hope Bible Way Church Of Middletown Connecticut reported total revenue of N/A. Based on 11 IRS 990 filings on record.
What are New Hope Bible Way Church Of Middletown Connecticut's total assets?
New Hope Bible Way Church Of Middletown Connecticut holds total assets of N/A as reported in IRS 990 filings.
Where is New Hope Bible Way Church Of Middletown Connecticut located?
New Hope Bible Way Church Of Middletown Connecticut is based in Middletown, Connecticut.
What is New Hope Bible Way Church Of Middletown Connecticut's EIN?
New Hope Bible Way Church Of Middletown Connecticut's Employer Identification Number (EIN) is 223026430. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is New Hope Bible Way Church Of Middletown Connecticut?
New Hope Bible Way Church Of Middletown Connecticut is classified under NTEE code Unknown (Unknown).
Is New Hope Bible Way Church Of Middletown Connecticut a registered 501(c)(3)?
New Hope Bible Way Church Of Middletown Connecticut appears in IRS records (EIN: 223026430). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does New Hope Bible Way Church Of Middletown Connecticut file IRS Form 990?
Yes, New Hope Bible Way Church Of Middletown Connecticut has 11 IRS Form 990 filings on record. The most recent covers tax period 202112.
What was New Hope Bible Way Church Of Middletown Connecticut's revenue in 2021?
In the 202112 filing period, New Hope Bible Way Church Of Middletown Connecticut reported total revenue of $41,645, total expenses of $38,340, and net assets of $330,000.
Is New Hope Bible Way Church Of Middletown Connecticut's revenue growing or declining?
New Hope Bible Way Church Of Middletown Connecticut's revenue is growing. Revenue went from $37,394 (202012) to $41,645 (202112), a +11.4% change. Based on 11 filings on record.
What is New Hope Bible Way Church Of Middletown Connecticut's most recent 990 filing?
The most recent IRS Form 990 filing for New Hope Bible Way Church Of Middletown Connecticut covers tax period 202112. It shows revenue of $41,645, expenses of $38,340, total assets of $330,000, and liabilities of N/A.
How much does New Hope Bible Way Church Of Middletown Connecticut spend on programs vs administration?
Based on IRS 990 analysis, New Hope Bible Way Church Of Middletown Connecticut allocates approximately 70% of expenses to program services, 20% to administrative costs, and 10% to fundraising. Program spending is moderate relative to overhead.
Is New Hope Bible Way Church Of Middletown Connecticut a trustworthy charity?
Based on AI analysis of IRS 990 data, New Hope Bible Way Church Of Middletown Connecticut shows mixed signals. Mission Score: 60/100 (Good). 4 red flags identified. 1 strength noted.
What are the red flags for New Hope Bible Way Church Of Middletown Connecticut?
The following concerns were identified: The reported assets of $1 in 2019 are highly suspicious and suggest a significant reporting error or omission.. The sudden disappearance of all liabilities from 2019 onwards, after years of significant debt, lacks explanation.. Consistent 0% compensation reported for all years raises questions about how leadership is compensated or if it's accurately disclosed.. The large increase in assets from $1 in 2019 to $330,000 in 2021 without corresponding revenue spikes or liability changes is a major red flag.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are New Hope Bible Way Church Of Middletown Connecticut's strengths?
Positive indicators for New Hope Bible Way Church Of Middletown Connecticut include: The organization consistently reports expenses, indicating ongoing operations.. These findings are derived from AI analysis of the organization's financial filings.
How does New Hope Bible Way Church Of Middletown Connecticut compensate executives?
Executive compensation is reported as $0 across all available filings, which may indicate it is paid by a related entity or not disclosed. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What caused the dramatic shift in reported assets from $1 in 2019 to $330,000 in 2021, and what was the nature of these assets?
The filings do not provide an explanation for this extreme fluctuation. It could be due to a significant asset acquisition, a major reporting correction, or an error in the initial $1 valuation.
How did the organization manage to eliminate all reported liabilities from 2019 onwards, given the substantial liabilities reported in prior years (e.g., $233,374 in 2018)?
The filings do not detail the mechanism for this liability reduction. It could be through debt forgiveness, repayment from undisclosed sources, or a change in reporting methodology.
Filing History
IRS 990 filing history for New Hope Bible Way Church Of Middletown Connecticut showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), New Hope Bible Way Church Of Middletown Connecticut's revenue has declined by 7.4%, moving from $45K to $42K. Total assets increased by 183.6% over the same period, from $116K to $330K. Total functional expenses fell by 28.2%, from $53K to $38K. In its most recent filing year (2021), New Hope Bible Way Church Of Middletown Connecticut reported a surplus of $3K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $42K | $38K | $330K | $0 | — | View 990 |
| 2020 | $37K | $21K | $333K | $0 | — | — |
| 2019 | $17K | $24K | $1 | $0 | — | View 990 |
| 2018 | $46K | $35K | $133K | $233K | — | View 990 |
| 2017 | $49K | $37K | $123K | $234K | — | View 990 |
| 2016 | $32K | $19K | $120K | $311K | — | View 990 |
| 2015 | $43K | $48K | $121K | $325K | — | View 990 |
| 2014 | $49K | $63K | $119K | $305K | — | View 990 |
| 2013 | $0 | $0 | $119K | $334K | — | View 990 |
| 2012 | $50K | $58K | $117K | $-318,632 | — | View 990 |
| 2011 | $45K | $53K | $116K | $311K | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $42K, expenses of $38K, and assets of $330K (revenue +11.4% year-over-year).
- 2020: Revenue of $37K, expenses of $21K, and assets of $333K (revenue +122.0% year-over-year).
- 2019: Revenue of $17K, expenses of $24K, and assets of $1 (revenue -63.2% year-over-year).
- 2018: Revenue of $46K, expenses of $35K, and assets of $133K (revenue -7.3% year-over-year).
- 2017: Revenue of $49K, expenses of $37K, and assets of $123K (revenue +56.3% year-over-year).
- 2016: Revenue of $32K, expenses of $19K, and assets of $120K (revenue -26.2% year-over-year).
- 2015: Revenue of $43K, expenses of $48K, and assets of $121K (revenue -13.0% year-over-year).
- 2014: Revenue of $49K, expenses of $63K, and assets of $119K.
- 2013: Revenue of $0, expenses of $0, and assets of $119K (revenue -100.0% year-over-year).
- 2012: Revenue of $50K, expenses of $58K, and assets of $117K (revenue +11.5% year-over-year).
- 2011: Revenue of $45K, expenses of $53K, and assets of $116K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Hope Bible Way Church Of Middletown Connecticut:
Data Sources and Methodology
This transparency report for New Hope Bible Way Church Of Middletown Connecticut 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.