New Reach Inc
New Reach Inc: Stable Finances, Strong Program Focus
EIN: 223037451 · New Haven, CT · NTEE: L22Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $9.9M |
| Total Expenses | $9.7M |
| Program Spending | 85% |
| Net Assets | $14.3M |
| Transparency Score | 85/100 |
Is New Reach Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Reach Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Reach Inc
New Reach Inc (EIN: 223037451) is a nonprofit organization based in New Haven, CT, classified under NTEE code L22Z. The organization reported total revenue of $9.9M and total assets of $20.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Reach Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Reach Inc is a mid-size nonprofit that has been operating for 36 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 7.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8.8M |
| Total Expenses | $9.7M |
| Surplus / Deficit | $-890,232 |
| Total Assets | $20.7M |
| Total Liabilities | $6.4M |
| Net Assets | $14.3M |
| Operating Margin | -10.1% |
| Debt-to-Asset Ratio | 31.0% |
| Months of Reserves | 25.5 months |
Financial Health Grade: B
In 2023, New Reach Inc reported a deficit of $890K with expenses exceeding revenue, holds 25.5 months of operating reserves (strong position), has a debt-to-asset ratio of 31.0% (moderate leverage).
Financial Trends
Over 12 years of filings (2012–2023), New Reach Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +17.0% | +18.1% | +8.4% |
| 2022 | -10.8% | +10.7% | -1.5% |
| 2021 | +9.5% | +11.9% | +1.9% |
| 2020 | +23.1% | +5.5% | +20.3% |
| 2019 | +1.8% | +6.2% | +4.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1990 |
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 Reach Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, New Reach Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $890K, with expenses exceeding revenue.
- Debt-to-asset ratio: 31.0%.
Executive Compensation Analysis
Executive compensation cannot be assessed as specific figures for individual compensation are not provided in the given data.
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.
Strengths
The following positive indicators were identified for New Reach Inc:
- Consistent revenue generation, with 2023 revenue at $8,820,910.
- Healthy asset base, reaching $20,670,916 in 2023.
- Positive net assets, indicating financial stability.
- Strong program spending implied by the overall financial health and mission.
Frequently Asked Questions about New Reach Inc
Is New Reach Inc a legitimate charity?
New Reach Inc (EIN: 223037451) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 85/100. It has 12 years of IRS 990 filings on record. Total revenue: $9.9M. No red flags identified. 4 strengths noted. Financial health grade: B.
How does New Reach Inc spend its money?
New Reach Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to New Reach Inc tax-deductible?
New Reach Inc is registered as a tax-exempt nonprofit (EIN: 223037451). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of New Reach Inc's spending goes to programs?
New Reach Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does New Reach Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), New Reach Inc is above average for NTEE category L22Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is New Reach Inc located?
New Reach Inc is headquartered in New Haven, Connecticut and files with the IRS under EIN 223037451. It is classified under NTEE code L22Z.
How many years of IRS 990 filings does New Reach Inc have?
New Reach Inc has 12 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 $9.9M in total revenue.
What does New Reach Inc do?
New Reach Inc is a nonprofit organization in the Housing & Shelter sector, located in New Haven, Connecticut. It is classified under NTEE code L22Z.
How much revenue does New Reach Inc have?
New Reach Inc reported total revenue of $9,866,686. Based on 12 IRS 990 filings on record.
What are New Reach Inc's total assets?
New Reach Inc holds total assets of $20,108,459 as reported in IRS 990 filings.
Where is New Reach Inc located?
New Reach Inc is based in New Haven, Connecticut.
What is New Reach Inc's EIN?
New Reach Inc's Employer Identification Number (EIN) is 223037451. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is New Reach Inc?
New Reach Inc is classified under NTEE code L22Z (Housing & Shelter).
Is New Reach Inc a registered 501(c)(3)?
Yes, New Reach Inc is recognized as a tax-exempt organization by the IRS. EIN: 223037451.
Does New Reach Inc file IRS Form 990?
Yes, New Reach Inc has 12 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was New Reach Inc's revenue in 2023?
In the 202306 filing period, New Reach Inc reported total revenue of $8,820,910, total expenses of $9,711,142, and net assets of $20,670,916.
Is New Reach Inc's revenue growing or declining?
New Reach Inc's revenue is growing. Revenue went from $7,538,038 (202206) to $8,820,910 (202306), a +17.0% change. Based on 12 filings on record.
What is New Reach Inc's most recent 990 filing?
The most recent IRS Form 990 filing for New Reach Inc covers tax period 202306. It shows revenue of $8,820,910, expenses of $9,711,142, total assets of $20,670,916, and liabilities of $6,417,981.
How much does New Reach Inc spend on programs vs administration?
Based on IRS 990 analysis, New Reach Inc allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is New Reach Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, New Reach Inc appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 4 strengths noted.
What are New Reach Inc's strengths?
Positive indicators for New Reach Inc include: Consistent revenue generation, with 2023 revenue at $8,820,910.. Healthy asset base, reaching $20,670,916 in 2023.. Positive net assets, indicating financial stability.. Strong program spending implied by the overall financial health and mission.. These findings are derived from AI analysis of the organization's financial filings.
How does New Reach Inc compensate executives?
Executive compensation cannot be assessed as specific figures for individual compensation are not provided in the given data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How has New Reach Inc's revenue trended over the past five years, and what does this suggest about its fundraising efforts?
New Reach Inc's revenue has shown a generally upward trend over the past five years, from $6,268,645 in 2019 to $8,820,910 in 2023, with a notable dip in 2022. This suggests consistent, though not always linear, fundraising success and donor support.
What is the organization's current financial leverage, and how has it changed over time?
The organization's liabilities were $6,417,981 in 2023 against assets of $20,670,916, indicating a healthy leverage ratio. This has increased from $2,019,494 in liabilities against $15,791,539 in assets in 2019, suggesting some growth in debt or deferred revenue relative to assets, but still within a manageable range.
Filing History
IRS 990 filing history for New Reach Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), New Reach Inc's revenue has grown by 114.6%, moving from $4.1M to $8.8M. Total assets increased by 220.8% over the same period, from $6.4M to $20.7M. Total functional expenses rose by 124.6%, from $4.3M to $9.7M. In its most recent filing year (2023), New Reach Inc reported a deficit of $890K, with expenses exceeding revenue. The organization holds $6.4M in liabilities against $20.7M in assets (debt-to-asset ratio: 31.0%), resulting in net assets of $14.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8.8M | $9.7M | $20.7M | $6.4M | — | — |
| 2022 | $7.5M | $8.2M | $19.1M | $4.0M | — | View 990 |
| 2021 | $8.5M | $7.4M | $19.3M | $3.5M | — | View 990 |
| 2020 | $7.7M | $6.6M | $19.0M | $4.1M | — | View 990 |
| 2019 | $6.3M | $6.3M | $15.8M | $2.0M | — | View 990 |
| 2018 | $6.2M | $5.9M | $15.1M | $1.2M | — | View 990 |
| 2017 | $15.0M | $7.0M | $15.1M | $1.5M | — | View 990 |
| 2016 | $6.3M | $6.4M | $14.2M | $8.5M | — | View 990 |
| 2015 | $5.9M | $5.7M | $10.6M | $4.8M | — | View 990 |
| 2014 | $4.5M | $4.5M | $7.7M | $2.2M | — | View 990 |
| 2013 | $4.6M | $4.6M | $7.3M | $1.8M | — | View 990 |
| 2012 | $4.1M | $4.3M | $6.4M | $995K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.8M, expenses of $9.7M, and assets of $20.7M (revenue +17.0% year-over-year).
- 2022: Revenue of $7.5M, expenses of $8.2M, and assets of $19.1M (revenue -10.8% year-over-year).
- 2021: Revenue of $8.5M, expenses of $7.4M, and assets of $19.3M (revenue +9.5% year-over-year).
- 2020: Revenue of $7.7M, expenses of $6.6M, and assets of $19.0M (revenue +23.1% year-over-year).
- 2019: Revenue of $6.3M, expenses of $6.3M, and assets of $15.8M (revenue +1.8% year-over-year).
- 2018: Revenue of $6.2M, expenses of $5.9M, and assets of $15.1M (revenue -58.9% year-over-year).
- 2017: Revenue of $15.0M, expenses of $7.0M, and assets of $15.1M (revenue +136.5% year-over-year).
- 2016: Revenue of $6.3M, expenses of $6.4M, and assets of $14.2M (revenue +8.3% year-over-year).
- 2015: Revenue of $5.9M, expenses of $5.7M, and assets of $10.6M (revenue +28.9% year-over-year).
- 2014: Revenue of $4.5M, expenses of $4.5M, and assets of $7.7M (revenue -1.9% year-over-year).
- 2013: Revenue of $4.6M, expenses of $4.6M, and assets of $7.3M (revenue +12.6% year-over-year).
- 2012: Revenue of $4.1M, expenses of $4.3M, and assets of $6.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Reach Inc:
Data Sources and Methodology
This transparency report for New Reach 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.