New Faith Outreach Economic Development Inc
- Assets
- $372.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 05/2004
- Data as of
- 12/2022
- EIN
- 30-0244099
Organization Overview
New Faith Outreach Economic Development Inc is located in Mobile, AL. The organization was established in 2004. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Faith Outreach Economic Development Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, New Faith Outreach Economic Development Inc generated $122.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $112.3k during the year ending 12/2022. While expenses have increased by 0.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $122,842 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $122,842 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $42,003 |
| Professional fees and other payments to independent contractors | $10,390 |
| Occupancy, rent, utilities, and maintenance | $11,201 |
| Printing, publications, postage, and shipping | $178 |
| Other expenses | $48,562 |
| Total expenses | $112,334 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $49,792 |
| Other assets | $0 |
| Total assets | $372,416 |
| Total liabilities | $252,506 |
| Net assets or fund balances | $119,910 |