New Life Enterprises Corp
EIN: 421529285 · Richmond, VA · NTEE: J22
| Metric | Value |
|---|---|
| Total Revenue | $615K |
| Total Expenses | $535K |
| Net Assets | $-104,264 |
Is New Life Enterprises Corp Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About New Life Enterprises Corp
New Life Enterprises Corp (EIN: 421529285) is a nonprofit organization based in Richmond, VA, classified under NTEE code J22. The organization reported total revenue of $615K and total assets of $70K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Life Enterprises Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Life Enterprises Corp is a small nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $549K |
| Total Expenses | $535K |
| Surplus / Deficit | +$13K |
| Total Assets | $60K |
| Total Liabilities | $164K |
| Net Assets | $-104,264 |
| Operating Margin | 2.4% |
| Debt-to-Asset Ratio | 273.9% |
| Months of Reserves | 1.3 months |
Financial Health Grade: B
In 2023, New Life Enterprises Corp reported a surplus of $13K with revenue exceeding expenses, holds 1.3 months of operating reserves (limited), has a debt-to-asset ratio of 273.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), New Life Enterprises Corp's revenue has grown at a compound annual growth rate (CAGR) of 2.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1.6% | -0.6% | +10.3% |
| 2022 | -7.4% | -24.3% | -26.4% |
| 2021 | +23.9% | +43.6% | -64.4% |
| 2020 | -2.8% | +5.3% | +245.3% |
| 2019 | -6.3% | -14.3% | +32.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2002 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for New Life Enterprises Corp 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 Life Enterprises Corp 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 $13K, with revenue exceeding expenses.
- Debt-to-asset ratio: 273.9%.
Frequently Asked Questions about New Life Enterprises Corp
Is New Life Enterprises Corp a legitimate charity?
New Life Enterprises Corp (EIN: 421529285) is a registered tax-exempt nonprofit based in Virginia. It has 13 years of IRS 990 filings on record. Total revenue: $615K. No red flags identified. Financial health grade: B.
How does New Life Enterprises Corp spend its money?
New Life Enterprises Corp reported $615K in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to New Life Enterprises Corp tax-deductible?
New Life Enterprises Corp is registered as a tax-exempt nonprofit (EIN: 421529285). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is New Life Enterprises Corp located?
New Life Enterprises Corp is headquartered in Richmond, Virginia and files with the IRS under EIN 421529285. It is classified under NTEE code J22.
How many years of IRS 990 filings does New Life Enterprises Corp have?
New Life Enterprises Corp 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 $615K in total revenue.
Filing History
IRS 990 filing history for New Life Enterprises Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), New Life Enterprises Corp's revenue has grown by 32.3%, moving from $415K to $549K. Total assets increased by 2.7% over the same period, from $58K to $60K. Total functional expenses rose by 37.3%, from $390K to $535K. In its most recent filing year (2023), New Life Enterprises Corp reported a surplus of $13K, with revenue exceeding expenses. The organization holds $164K in liabilities against $60K in assets (debt-to-asset ratio: 273.9%), resulting in net assets of $-104,264.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $549K | $535K | $60K | $164K | — | — |
| 2022 | $540K | $539K | $54K | $172K | — | View 990 |
| 2021 | $583K | $712K | $74K | $193K | — | View 990 |
| 2020 | $471K | $496K | $207K | $197K | — | — |
| 2019 | $484K | $471K | $60K | $24K | — | View 990 |
| 2018 | $517K | $549K | $45K | $23K | — | View 990 |
| 2017 | $548K | $557K | $58K | $4K | — | View 990 |
| 2016 | $606K | $577K | $42K | $-23,727 | — | View 990 |
| 2015 | $579K | $562K | $59K | $22K | — | View 990 |
| 2014 | $439K | $427K | $32K | $11K | — | View 990 |
| 2013 | $468K | $476K | $29K | $22K | — | View 990 |
| 2012 | $435K | $439K | $63K | $14K | — | View 990 |
| 2011 | $415K | $390K | $58K | $6K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $549K, expenses of $535K, and assets of $60K (revenue +1.6% year-over-year).
- 2022: Revenue of $540K, expenses of $539K, and assets of $54K (revenue -7.4% year-over-year).
- 2021: Revenue of $583K, expenses of $712K, and assets of $74K (revenue +23.9% year-over-year).
- 2020: Revenue of $471K, expenses of $496K, and assets of $207K (revenue -2.8% year-over-year).
- 2019: Revenue of $484K, expenses of $471K, and assets of $60K (revenue -6.3% year-over-year).
- 2018: Revenue of $517K, expenses of $549K, and assets of $45K (revenue -5.7% year-over-year).
- 2017: Revenue of $548K, expenses of $557K, and assets of $58K (revenue -9.6% year-over-year).
- 2016: Revenue of $606K, expenses of $577K, and assets of $42K (revenue +4.7% year-over-year).
- 2015: Revenue of $579K, expenses of $562K, and assets of $59K (revenue +31.8% year-over-year).
- 2014: Revenue of $439K, expenses of $427K, and assets of $32K (revenue -6.2% year-over-year).
- 2013: Revenue of $468K, expenses of $476K, and assets of $29K (revenue +7.5% year-over-year).
- 2012: Revenue of $435K, expenses of $439K, and assets of $63K (revenue +4.9% year-over-year).
- 2011: Revenue of $415K, expenses of $390K, and assets of $58K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Life Enterprises Corp:
Data Sources and Methodology
This transparency report for New Life Enterprises Corp 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.