NEW LIFE MINISTRIES INC

EIN: 561177254 501(c)(3)

RALEIGH, NC

Total Revenue
$367,975
Total Expenses
$403,017
Total Assets
$498,668
Net Assets
$497,668
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
NC
Principal Officer
GREGORY P GULLEY
Tax Period
2023-01-01 to 2023-12-31

NEW LIFE MINISTRIES INC, founded in 1977, is a small nonprofit that reported $368K in total revenue in fiscal year 2023. Revenue fell 45% from the prior year — a significant decline worth monitoring.

Mission

TO PROMOTE AND EXECUTE FACETS OF CHRISTIAN MINISTRY FOR THE SPIRITUAL AND MATERIAL BENEFIT OF ORPHANS AND STATE-RUN ORPHANAGES IN THE COUNTRIES OF THE FORMER SOVIET UNION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $356,013
Program Service Revenue $0
Investment Income $11,962
Other Revenue $0
TOTAL REVENUE $367,975

Expense Breakdown

Grants Paid $0
Salaries & Benefits $192,827
Fundraising Expenses $1,892
Program Expenses $168,219
Other Expenses $210,190
TOTAL EXPENSES $403,017

Year-over-Year Comparison

2023 2022 Change
Revenue $367,975 $663,293 -0.4%
Expenses $403,017 $343,883 +0.2%
Net Income $-35,042 $319,410 -1.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
1
Independent Members
1
Employees
1
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$181,557
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GREGORY P GULLEY EXECUTIVE DI 40.00
Officer
$147,316 $34,241 $181,557
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $367,975 $403,017 $498,668 $-35,042
2022 $663,293 $343,883 $528,773 $319,410
2021 $368,583 $275,327 $212,655 $93,256
2020 $297,943 $214,575 $139,314 $83,368
2019 $285,924 $268,482 $35,256 $17,442
2018 $220,405 $219,700 $13,538 $705
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