New Chance Inc

Overview

Mission

Our mission is to provide relief and support to refugees in Alaska, helping individuals and families displaced by conflict to successfully resettle, achieve self-sufficiency, and thrive in their new communities.

What it reported doing in 2024

CSS - Job Readiness - This grant supported the development and statewide delivery of a virtual Job Readiness curriculum to help refugees and humanitarian parolees prepare for employment in Alaska. The curriculum was written and instructed in 2024. Through this program, New Chance Inc. exceeded its outcome goals, serving more than 70 participants through online classes focused on job search skills, resume building, and workforce integration. As clients learn job readiness skills, they also naturally improve their English through practical, work-related communication and interactive lessons.

Operating model

Revenue model
Grant-funded. 76% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 43% for direct work, and 57% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
372040108
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Headquarters
Anchorage, AK, USA
Phone
9079800835
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.2%; rating input score 91
  • Program expense ratio: 99.6%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.5%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 0.4; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.48; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 94.9% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 78.2% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 16.5% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 91.2% of revenue deployed · 99.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $102K · 5 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 2 annual filings from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

5 people listed

Highest reported compensation

  • Zoryana Opanasevych (Executive Dir.): $101,887 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.