Share of New Square Inc

Share of New Square Inc is a nonprofit organization registered as a 501(c)(3) entity based in Spring Valley, New York. The organization operates primarily to provide services to the elderly, ill, developmentally disabled, and individuals facing various life challenges. It is also known by the names Chesed 24/7 and Share 24/7.

Mission and Activities

The mission of Share of New Square Inc focuses on supporting vulnerable populations through a range of charitable services. Notably, the organization offers day habilitation programs designed to improve living skills, facilitate integration into local communities, and enhance the overall quality of life for participants. These programs target individuals with developmental disabilities and others in need of assistance, helping them overcome daily challenges and achieve greater independence.

Organizational Structure

Share of New Square Inc is governed by a board of directors, which has included members such as J. Fischer, Avir Yaakov, Jacob Goldmunzcer, Samson Glick, Pinches Braun, Aron Grunwald, and Isaac Breuer. Some board members are affiliated with related community organizations like Hatzalah, while others have no formal affiliation.

Financial Overview

According to publicly available tax filings, the organization has demonstrated significant financial activity. As of the 2022 fiscal year, Share of New Square Inc reported total revenue of approximately $13.6 million and total expenses near $19 million. The organization holds assets valued over $11.5 million against liabilities of about $8.8 million, indicating substantial operational scale.

Executive compensation figures reported include a total of $178,933 for top executives, with other wages and salaries amounting to over $9.7 million. The organization does not appear to incur professional fundraising costs, suggesting that it relies on other methods for revenue generation and support.

Legal and Tax Status

Share of New Square Inc is classified under the Food, Agriculture and Nutrition sector with a focus on Meals on Wheels within the National Taxonomy of Exempt Entities (NTEE) codes. Its designation as a 501(c)(3) organization means donations made to it are tax deductible.

The organization emphasizes transparency by filing IRS Form 990, the required tax return for tax-exempt nonprofits, and maintains compliance with auditing standards according to its revenue bracket.

Ratings and Recognition

Charity Navigator has assigned Share of New Square Inc a 3 out of 4-star rating, acknowledging its status as a religious organization and affirming a sound level of financial health and accountability.

Summary

Share of New Square Inc plays a vital role in the Spring Valley and broader New York community by delivering critical support services to those facing physical, developmental, or social challenges. With a focus on habilitation and quality of life improvements, together with solid financial stewardship and governance, it represents a significant nonprofit entity within its service domain.