New Life Estates Inc
New Life Estates Inc. consistently operates at a deficit, drawing down assets to cover expenses.
EIN: 200733325 · Pawtucket, RI · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $118K |
| Total Expenses | $165K |
| Program Spending | 80% |
| Net Assets | $1.2M |
| Transparency Score | 65/100 |
Is New Life Estates Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Life Estates Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Life Estates Inc
New Life Estates Inc (EIN: 200733325) is a nonprofit organization based in Pawtucket, RI, classified under NTEE code L20. The organization reported total revenue of $118K and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Life Estates Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Life Estates Inc is a small nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 1.9%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $109K |
| Total Expenses | $165K |
| Surplus / Deficit | $-55,696 |
| Total Assets | $1.2M |
| Total Liabilities | $27K |
| Net Assets | $1.2M |
| Operating Margin | -51.2% |
| Debt-to-Asset Ratio | 2.3% |
| Months of Reserves | 87.1 months |
Financial Health Grade: B
In 2024, New Life Estates Inc reported a deficit of $56K with expenses exceeding revenue, holds 87.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.3% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), New Life Estates Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +0.7% | +8.6% | -3.4% |
| 2023 | +1.1% | +5.1% | -3.2% |
| 2022 | +2.3% | +0.1% | -3.5% |
| 2021 | +0.1% | +1.9% | -2.4% |
| 2020 | +0.0% | +5.1% | -2.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Life Estates Inc with a Mission Score of 65 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: 80%
- fundraising: 5%
According to IRS 990 filings, New Life Estates Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $56K, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.3%.
Executive Compensation Analysis
New Life Estates Inc. reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to officers, which is a strong positive for minimizing administrative overhead.
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 Life Estates Inc's IRS 990 filings:
- Consistent operational deficits, with expenses exceeding revenue in all reported periods.
- Declining asset base over the past decade, indicating reliance on reserves to cover operational shortfalls.
Strengths
The following positive indicators were identified for New Life Estates Inc:
- No reported officer compensation, indicating efficient use of funds regarding executive pay.
- Substantial asset base, providing a buffer despite consistent operational deficits.
Frequently Asked Questions about New Life Estates Inc
Is New Life Estates Inc a legitimate charity?
New Life Estates Inc (EIN: 200733325) is a registered tax-exempt nonprofit based in Rhode Island. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $118K. 2 red flags identified. 2 strengths noted. Financial health grade: B.
How does New Life Estates Inc spend its money?
New Life Estates Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to New Life Estates Inc tax-deductible?
New Life Estates Inc is registered as a tax-exempt nonprofit (EIN: 200733325). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of New Life Estates Inc's spending goes to programs?
New Life Estates Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does New Life Estates Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), New Life Estates Inc is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is New Life Estates Inc located?
New Life Estates Inc is headquartered in Pawtucket, Rhode Island and files with the IRS under EIN 200733325. It is classified under NTEE code L20.
How many years of IRS 990 filings does New Life Estates Inc have?
New Life Estates 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 $118K in total revenue.
How does New Life Estates Inc. cover its consistent operational deficits?
The organization consistently spends more than it earns, with expenses exceeding revenue in every reported period. For example, in 202406, expenses were $164,564 while revenue was $108,868. This suggests the organization is likely using its existing assets to cover these shortfalls, as evidenced by the declining asset base from $1,516,604 in 201506 to $1,193,867 in 202406.
What is the long-term financial sustainability outlook for New Life Estates Inc. given its declining assets?
The organization's assets have decreased by approximately 21% over the last decade, from $1,516,604 in 201506 to $1,193,867 in 202406. If the current trend of operational deficits continues without a significant increase in revenue or reduction in expenses, the organization's financial reserves will continue to diminish, raising concerns about its long-term viability.
Does New Life Estates Inc. have high administrative costs?
The absence of reported officer compensation across all filings suggests very low executive administrative costs. While a full breakdown of administrative expenses isn't provided, the lack of officer pay is a positive indicator of efficient use of funds in this area.
Filing History
IRS 990 filing history for New Life Estates Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), New Life Estates Inc's revenue has grown by 25.6%, moving from $87K to $109K. Total assets decreased by 28.4% over the same period, from $1.7M to $1.2M. Total functional expenses rose by 38.8%, from $119K to $165K. In its most recent filing year (2024), New Life Estates Inc reported a deficit of $56K, with expenses exceeding revenue. The organization holds $27K in liabilities against $1.2M in assets (debt-to-asset ratio: 2.3%), resulting in net assets of $1.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $109K | $165K | $1.2M | $27K | — | — |
| 2023 | $108K | $152K | $1.2M | $13K | — | View 990 |
| 2022 | $107K | $144K | $1.3M | $11K | — | View 990 |
| 2021 | $105K | $144K | $1.3M | $21K | — | — |
| 2020 | $104K | $141K | $1.4M | $14K | — | View 990 |
| 2019 | $104K | $134K | $1.4M | $13K | — | View 990 |
| 2018 | $104K | $138K | $1.4M | $14K | — | View 990 |
| 2017 | $104K | $126K | $1.5M | $13K | — | View 990 |
| 2016 | $100K | $136K | $1.5M | $12K | — | View 990 |
| 2015 | $87K | $148K | $1.5M | $17K | — | View 990 |
| 2014 | $86K | $134K | $1.6M | $13K | — | View 990 |
| 2013 | $81K | $128K | $1.6M | $12K | — | View 990 |
| 2012 | $87K | $119K | $1.7M | $13K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $109K, expenses of $165K, and assets of $1.2M (revenue +0.7% year-over-year).
- 2023: Revenue of $108K, expenses of $152K, and assets of $1.2M (revenue +1.1% year-over-year).
- 2022: Revenue of $107K, expenses of $144K, and assets of $1.3M (revenue +2.3% year-over-year).
- 2021: Revenue of $105K, expenses of $144K, and assets of $1.3M (revenue +0.1% year-over-year).
- 2020: Revenue of $104K, expenses of $141K, and assets of $1.4M (revenue +0.0% year-over-year).
- 2019: Revenue of $104K, expenses of $134K, and assets of $1.4M (revenue +0.0% year-over-year).
- 2018: Revenue of $104K, expenses of $138K, and assets of $1.4M (revenue +0.0% year-over-year).
- 2017: Revenue of $104K, expenses of $126K, and assets of $1.5M (revenue +4.4% year-over-year).
- 2016: Revenue of $100K, expenses of $136K, and assets of $1.5M (revenue +15.4% year-over-year).
- 2015: Revenue of $87K, expenses of $148K, and assets of $1.5M (revenue +1.1% year-over-year).
- 2014: Revenue of $86K, expenses of $134K, and assets of $1.6M (revenue +5.5% year-over-year).
- 2013: Revenue of $81K, expenses of $128K, and assets of $1.6M (revenue -6.2% year-over-year).
- 2012: Revenue of $87K, expenses of $119K, and assets of $1.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Life Estates Inc:
Data Sources and Methodology
This transparency report for New Life Estates 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.