Overview
What is New Life Thrift Inc?
New Life Thrift Inc, located in Glenside, Pennsylvania, is a nonprofit organization that serves as a ministry for New Life Presbyterian Church. Their main activity involves operating two thrift stores, where they accept and sell donated items such as clothing, knick-knacks, furniture, books, and jewelry. A portion of the profits generated from these sales is distributed to the church to aid individuals in need within the local community every quarter. The organization's mission aligns with its activities, aiming to provide support and assistance to those in need through its thrift store operations.
Official website here: www.newlifethriftinc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
New Life Thrift Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. The organization's score of 81% reflects its strong commitment to fiscal responsibility, particularly showcased through its high program expense ratio of 90.93%, meaning that a large majority of its funds are directed towards its programs rather than administrative costs. Additionally, the charity boasts a fully independent board, which is a positive indicator of governance.
However, the organization does exhibit some areas of concern. It lacks several critical policies, such as a conflict of interest policy, a whistleblower policy, and guidelines for document retention and destruction. Furthermore, the absence of documented board meeting minutes raises questions about transparency and oversight in decision-making processes. These omissions have impacted its overall accountability score, which may affect stakeholders' trust.
Despite these limitations, New Life Thrift Inc shows promising financial health with no loans to or from officers and a manageable liabilities to assets ratio of 41.15%. While it excels in program execution and governance aspects, addressing the noted gaps in policy documentation could further enhance its operational integrity and stakeholder confidence.
This AI summary has been generated from information found on Charity Navigator.
Is New Life Thrift Inc legitimate?
New Life Thrift Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Life Thrift Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $119,583
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,092,829
For more financial information, click here
Official website here: www.newlifethriftinc.org
What is the mission statement of New Life Thrift Inc?
New Life Thrift Inc, being a ministry affiliated with New Life Presbyterian Church of Glenside, operates two thrift stores as its primary activity. The organization's purpose is to generate profits from these stores, which are then distributed to the church and local charities to aid individuals in need. The merchandise sold at the stores is all donated, including clothing, knick-knacks, furniture, books, and jewelry. A portion of the net proceeds from sales is regularly donated to the community, providing essential support to those in need. In essence, New Life Thrift Inc serves as a means to give back and uplift the community through the operation of its thrift stores.
Official website here: www.newlifethriftinc.org
Who is the CEO of New Life Thrift Inc?
David Channing is the Executive Director of New Life Thrift Inc.
Official website here: www.newlifethriftinc.org
What is the revenue of New Life Thrift Inc?
New Life Thrift Inc's revenue in 2022 was $2,798,421.
Official website here: www.newlifethriftinc.org
Who are the executives of New Life Thrift Inc and what are their salaries?
The average compensation at New Life Thrift Inc during 2022 was $15,953. There are 76 employees and 115 volunteers at New Life Thrift Inc.
Here are 9 key members and their salaries:
- Compensation: $119,583
- Related: $0
- Other: $1,379
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.newlifethriftinc.org
Where can I find the form 990 for New Life Thrift Inc?
New Life Thrift Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newlifethriftinc.org
Learn more at the official website: www.newlifethriftinc.org
Mission Statement of New Life Thrift Inc
New Life Thrift, a ministry under New Life Presbyterian Church of Glenside, is primarily dedicated to the operation of two thrift stores. The organization's primary purpose is to generate profits from the sales of donated merchandise, which includes a variety of items such as clothing, knick-knacks, furniture, books, and jewelry. The newly acquired profits are then distributed to the church and local charities with the aim of assisting individuals in need within the community associated with the store locations. This nonprofit organization's mission is to contribute to the betterment of its community by channeling its retail earnings towards helping those in need.
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Impact
October, 2024
New Life Thrift Inc operates two thrift stores that significantly benefit the community by providing affordable goods while supporting those in need. All merchandise sold in these stores is generously donated, ranging from clothing to knick-knacks, furniture, books, and jewelry. By selling these items, the thrift stores generate profits that are allocated to local charities and the New Life Presbyterian Church, enhancing their outreach efforts.
This initiative fosters a sense of community by making quality items accessible to individuals and families who might otherwise struggle to afford them. Additionally, the quarterly distribution of proceeds promotes ongoing support for community members in need, ensuring that the impact of New Life Thrift extends beyond the store itself. Overall, New Life Thrift Inc plays a vital role in promoting philanthropy and community welfare in Glenside, PA.
This information is meant to be a general summary of New Life Thrift Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $899
- Gross Receipts: $2,798,421
Assets and Liabilities:
- Total Assets: $3,098,970
- Total Liabilities: $1,315,787
- Net Assets: $1,783,183
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Organization Details
Founding Year
2010
Principal Officer
David Channing
Main Address
800 N Easton Road, Glenside, PA, 19038
Website
www.newlifethriftinc.orgNTEE Category
Code: T50 - Philanthropy
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