NEW WAY CHURCH

EIN: 845019737 501(c)(3) Religion

Providence, RI

Total Revenue
$222,274
Total Expenses
$221,377
Total Assets
$255,234
Net Assets
$234,948
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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
2020
Legal Domicile
RI
Principal Officer
Hector Junior Cabrera
Phone
4013096745
Tax Period
2025-01-01 to 2025-12-31

NEW WAY CHURCH, founded in 2020, is a small nonprofit in the Religion sector that reported $222K in total revenue in fiscal year 2025. Revenue surged 47% from the prior year, signaling strong growth momentum.

Mission

The corporation is organized exclusively for religious purposes under Section 501(c)(3) of the Internal Revenue Code. Its mission is to establish and oversee places of worship, preach and teach the Gospel, conduct evangelistic and humanitarian outreach, license and ordain ministers, and carry out activities necessary to support these religious objectives.

Program Service Accomplishments

Program 1
Expenses: $205,395

New Way Church conducts a variety of religious and charitable programs designed to advance its mission. These programs include weekly worship services, Bible teaching, prayer meetings, discipleship...

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New Way Church conducts a variety of religious and charitable programs designed to advance its mission. These programs include weekly worship services, Bible teaching, prayer meetings, discipleship and leadership development, pastoral counseling, and evangelistic outreach. The church also provides community-focused ministries such as assistance to individuals and families in need, spiritual guidance, community prayer initiatives, and volunteer-led outreach activities intended to support and strengthen the surrounding community. These programs are carried out primarily through volunteers, pastors, elders, deacons, and ministry leaders who serve the church and community through various ministries and activities.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $222,274
Investment Income $0
Other Revenue $0
TOTAL REVENUE $222,274

Expense Breakdown

Grants Paid $0
Salaries & Benefits $91,330
Fundraising Expenses $0
Program Expenses $205,395
Other Expenses $130,047
TOTAL EXPENSES $221,377

Year-over-Year Comparison

2025 2024 Change
Revenue $222,274 $151,024 +0.5%
Expenses $221,377 $46,148 +3.8%
Net Income $897 $104,876 -1.0%
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
20
Independent Members
20
Employees
2
Volunteers
162

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
3
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Hector Junior Cabrera President / Sr Pastor / Overseer 80.00
Officer Director
$0 $0 $0
Franklin Morillo Montas Treasurer 40.00
Officer Director
$0 $0 $0
Milena Taveras Vice-President / Sr Pastor 40.00
Officer Director
$0 $0 $0
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
2025 $222,274 $221,377 $255,234 $897
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