New Hope Inc
New Hope Inc: Strong Growth, but Spending Breakdown Needs Clarity
EIN: 222688243 · Woodcliff Lk, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $417K |
| Total Expenses | $135K |
| Program Spending | 70% |
| Net Assets | $403K |
| Transparency Score | 75/100 |
Is New Hope Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Hope Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About New Hope Inc
New Hope Inc (EIN: 222688243) is a nonprofit organization based in Woodcliff Lk, NJ. The organization reported total revenue of $417K and total assets of $653K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Hope Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Hope Inc is a small nonprofit that has been operating for 40 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 16.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $314K |
| Total Expenses | $135K |
| Surplus / Deficit | +$179K |
| Total Assets | $403K |
| Net Assets | $403K |
| Operating Margin | 57.1% |
| Months of Reserves | 35.9 months |
Financial Health Grade: A
In 2023, New Hope Inc reported a surplus of $179K with revenue exceeding expenses, holds 35.9 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), New Hope Inc's revenue has grown at a compound annual growth rate (CAGR) of 16.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +105.1% | +16.1% | +98.9% |
| 2022 | -8.9% | +12.9% | +22.3% |
| 2021 | +17.2% | -8.3% | +65.0% |
| 2020 | -9.2% | -8.7% | +45.3% |
| 2019 | +35.6% | +8.2% | +18.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1986 |
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 Inc with a Mission Score of 75 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: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, New Hope Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $179K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation cannot be assessed as no compensation data was provided in the filings.
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 Inc's IRS 990 filings:
- Lack of detailed spending breakdown (programs, admin, fundraising) makes it difficult to assess efficiency.
- No information on executive compensation is available in the provided data.
Strengths
The following positive indicators were identified for New Hope Inc:
- Consistent and substantial revenue growth over the past several years, indicating increasing support.
- Healthy growth in assets, suggesting financial stability and capacity for future initiatives.
- No reported liabilities or debt, indicating a strong financial position.
Frequently Asked Questions about New Hope Inc
Is New Hope Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, New Hope Inc (EIN: 222688243) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does New Hope Inc spend its money?
New Hope Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to New Hope Inc tax-deductible?
New Hope Inc is registered as a tax-exempt nonprofit (EIN: 222688243). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of New Hope Inc's spending goes to programs?
New Hope Inc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is New Hope Inc located?
New Hope Inc is headquartered in Woodcliff Lk, New Jersey and files with the IRS under EIN 222688243.
How many years of IRS 990 filings does New Hope Inc have?
New Hope Inc has 13 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 $417K in total revenue.
What does New Hope Inc do?
New Hope Inc is a nonprofit organization in the Unknown sector, located in Woodcliff Lk, New Jersey. It is classified under NTEE code Unknown.
How much revenue does New Hope Inc have?
New Hope Inc reported total revenue of $416,786. Based on 13 IRS 990 filings on record.
What are New Hope Inc's total assets?
New Hope Inc holds total assets of $653,459 as reported in IRS 990 filings.
Where is New Hope Inc located?
New Hope Inc is based in Woodcliff Lk, New Jersey.
What is New Hope Inc's EIN?
New Hope Inc's Employer Identification Number (EIN) is 222688243. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is New Hope Inc?
New Hope Inc is classified under NTEE code Unknown (Unknown).
Is New Hope Inc a registered 501(c)(3)?
New Hope Inc appears in IRS records (EIN: 222688243). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does New Hope Inc file IRS Form 990?
Yes, New Hope Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was New Hope Inc's revenue in 2023?
In the 202312 filing period, New Hope Inc reported total revenue of $313,637, total expenses of $134,652, and net assets of $402,729.
Is New Hope Inc's revenue growing or declining?
New Hope Inc's revenue is growing. Revenue went from $152,941 (202212) to $313,637 (202312), a +105.1% change. Based on 13 filings on record.
What is New Hope Inc's most recent 990 filing?
The most recent IRS Form 990 filing for New Hope Inc covers tax period 202312. It shows revenue of $313,637, expenses of $134,652, total assets of $402,729, and liabilities of N/A.
How much does New Hope Inc spend on programs vs administration?
Based on IRS 990 analysis, New Hope Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is New Hope Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, New Hope Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for New Hope Inc?
The following concerns were identified: Lack of detailed spending breakdown (programs, admin, fundraising) makes it difficult to assess efficiency.. No information on executive compensation is available in the provided data.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are New Hope Inc's strengths?
Positive indicators for New Hope Inc include: Consistent and substantial revenue growth over the past several years, indicating increasing support.. Healthy growth in assets, suggesting financial stability and capacity for future initiatives.. No reported liabilities or debt, indicating a strong financial position.. These findings are derived from AI analysis of the organization's financial filings.
How does New Hope Inc compensate executives?
Executive compensation cannot be assessed as no compensation data was provided in the filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the significant revenue and asset growth, what specific programs or initiatives have driven this expansion, and how are these reflected in the organization's impact?
The provided data indicates strong financial growth but lacks specific program details. Understanding the programmatic drivers behind the revenue increase would offer insight into the organization's strategic effectiveness and impact.
How does New Hope Inc ensure that its administrative and fundraising costs remain efficient and aligned with its mission, especially as the organization continues to scale?
Without a detailed breakdown of spending, it's challenging to assess the efficiency of administrative and fundraising efforts. As the organization grows, maintaining cost-effectiveness in these areas is crucial for maximizing programmatic impact.
Filing History
IRS 990 filing history for New Hope Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), New Hope Inc's revenue has grown by 537.4%, moving from $49K to $314K. Total assets increased by 1630.4% over the same period, from $23K to $403K. Total functional expenses rose by 93.2%, from $70K to $135K. In its most recent filing year (2023), New Hope Inc reported a surplus of $179K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $314K | $135K | $403K | $0 | — | — |
| 2022 | $153K | $116K | $202K | $0 | — | View 990 |
| 2021 | $168K | $103K | $166K | $0 | — | — |
| 2020 | $143K | $112K | $100K | $0 | — | View 990 |
| 2019 | $158K | $123K | $69K | $0 | — | View 990 |
| 2018 | $116K | $113K | $58K | $0 | — | View 990 |
| 2017 | $99K | $88K | $55K | $0 | — | View 990 |
| 2016 | $80K | $78K | $44K | $0 | — | View 990 |
| 2015 | $86K | $77K | $43K | $0 | — | View 990 |
| 2014 | $68K | $66K | $33K | $0 | — | View 990 |
| 2013 | $64K | $55K | $31K | $0 | — | View 990 |
| 2012 | $59K | $61K | $22K | $0 | — | View 990 |
| 2011 | $49K | $70K | $23K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $314K, expenses of $135K, and assets of $403K (revenue +105.1% year-over-year).
- 2022: Revenue of $153K, expenses of $116K, and assets of $202K (revenue -8.9% year-over-year).
- 2021: Revenue of $168K, expenses of $103K, and assets of $166K (revenue +17.2% year-over-year).
- 2020: Revenue of $143K, expenses of $112K, and assets of $100K (revenue -9.2% year-over-year).
- 2019: Revenue of $158K, expenses of $123K, and assets of $69K (revenue +35.6% year-over-year).
- 2018: Revenue of $116K, expenses of $113K, and assets of $58K (revenue +17.7% year-over-year).
- 2017: Revenue of $99K, expenses of $88K, and assets of $55K (revenue +23.7% year-over-year).
- 2016: Revenue of $80K, expenses of $78K, and assets of $44K (revenue -7.6% year-over-year).
- 2015: Revenue of $86K, expenses of $77K, and assets of $43K (revenue +26.7% year-over-year).
- 2014: Revenue of $68K, expenses of $66K, and assets of $33K (revenue +6.3% year-over-year).
- 2013: Revenue of $64K, expenses of $55K, and assets of $31K (revenue +8.1% year-over-year).
- 2012: Revenue of $59K, expenses of $61K, and assets of $22K (revenue +20.8% year-over-year).
- 2011: Revenue of $49K, expenses of $70K, and assets of $23K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Hope Inc:
Data Sources and Methodology
This transparency report for New Hope 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.