New Life Ministries
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 8,272,518 | 6,673,809 | 1,598,709 | 0.7 | 30% |
| 2021 | 8,402,272 | 7,707,051 | 695,221 | 1.7 | 29% |
| 2022 | 8,273,380 | 9,368,323 | −1,094,943 | -0.0 | 28% |
| 2023 | 8,521,699 | 8,683,693 | −161,994 | -0.3 | 31% |
In its most recent public year (2023), this organization spent $161,994 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-0.3 months). Staff pay was 31% of spending. $206,731 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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