New Majority Capital Foundation Inc
EIN: 882922788 · Providence, RI · NTEE: J02
| Metric | Value |
|---|---|
| Total Revenue | $3.3M |
| Total Expenses | $1.0M |
| Net Assets | $819K |
Is New Majority Capital Foundation 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 Majority Capital Foundation Inc
New Majority Capital Foundation Inc (EIN: 882922788) is a nonprofit organization based in Providence, RI, classified under NTEE code J02. The organization reported total revenue of $3.3M and total assets of $2.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Majority Capital Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Majority Capital Foundation Inc is a mid-size nonprofit that has been operating for 3 years, with 2 years of IRS 990 filings on record (2022–2023). Revenue has grown at a compound annual rate of 236.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.5M |
| Total Expenses | $1.0M |
| Surplus / Deficit | +$485K |
| Total Assets | $957K |
| Total Liabilities | $138K |
| Net Assets | $819K |
| Operating Margin | 31.7% |
| Debt-to-Asset Ratio | 14.4% |
| Months of Reserves | 11.0 months |
Financial Health Grade: A
In 2023, New Majority Capital Foundation Inc reported a surplus of $485K with revenue exceeding expenses, holds 11.0 months of operating reserves (strong position), has a debt-to-asset ratio of 14.4% (very low leverage).
Financial Trends
Over 2 years of filings (2022–2023), New Majority Capital Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 236.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +236.5% | +764.3% | +186.8% |
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 Majority Capital Foundation 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 Majority Capital Foundation 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 $485K, with revenue exceeding expenses.
- Debt-to-asset ratio: 14.4%.
Frequently Asked Questions about New Majority Capital Foundation Inc
Is New Majority Capital Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, New Majority Capital Foundation Inc (EIN: 882922788) insufficient data. 0 red flags identified, 0 strengths noted.
How does New Majority Capital Foundation Inc spend its money?
Detailed spending breakdown data is not yet available for New Majority Capital Foundation Inc. Check back for updated IRS 990 analysis.
Are donations to New Majority Capital Foundation Inc tax-deductible?
New Majority Capital Foundation Inc is registered as a tax-exempt nonprofit (EIN: 882922788). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is New Majority Capital Foundation Inc located?
New Majority Capital Foundation Inc is headquartered in Providence, Rhode Island and files with the IRS under EIN 882922788. It is classified under NTEE code J02.
How many years of IRS 990 filings does New Majority Capital Foundation Inc have?
New Majority Capital Foundation Inc has 2 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $3.3M in total revenue.
Filing History
IRS 990 filing history for New Majority Capital Foundation Inc showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2022–2023), New Majority Capital Foundation Inc's revenue has grown by 236.5%, moving from $455K to $1.5M. Total assets increased by 186.8% over the same period, from $334K to $957K. Total functional expenses rose by 764.3%, from $121K to $1.0M. In its most recent filing year (2023), New Majority Capital Foundation Inc reported a surplus of $485K, with revenue exceeding expenses. The organization holds $138K in liabilities against $957K in assets (debt-to-asset ratio: 14.4%), resulting in net assets of $819K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.5M | $1.0M | $957K | $138K | — | — |
| 2022 | $455K | $121K | $334K | $0 | — | View 990 |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Majority Capital Foundation Inc:
Data Sources and Methodology
This transparency report for New Majority Capital Foundation 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.