New Foundations Inc
- Assets
- $2.9m
- Revenue
- $3.5m
- Investments
- $1.5k
- Employees
- 31
- Location
- Philadelphia, PA
- Founding
- 02/1991
- Data as of
- 06/2021
- EIN
- 23-2610384
Organization Overview
New Foundations Inc is located in Philadelphia, PA. The organization was established in 1991. According to its NTEE Classification (P32) the organization is classified as: Foster Care, under the broad grouping of Human Services and related organizations. As of 06/2022, New Foundations Inc employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Foundations Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, New Foundations Inc generated $3.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $3.0m during the year ending 06/2021. While expenses have increased by 3.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE BOTH FAMILIES AND CHILDREN IN THE EFFORTS OF UNITING WITH ONE ANOTHER AND TO REPRESENT THEM IN THIS PROCESS, TO FOSTER BONDING RELATIONSHIPS BETWEEN CHILDREN AND FAMILY, TO IDENTIFY AND ELIMINATE BARRIERS THAT KEEP CHILDREN AND FAMILIES APART, AND TO WORK TOGETHER WITH COUNTY AGENCIES TO SHORTEN THE TIME CHILDREN AND FAMILIES ARE INVOLVED IN THE CHILD WELFARE SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROFESSIONAL FOSTER CHILDCARE - PROVIDE SPECIALIZED FOSTER CARE AND OTHER SOCIAL WELFARE SERVICES TO FAMILIES AND CHILDREN.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Smith President | Trustee | 1 | $0 |
Jose Caballos Member | Trustee | 1 | $0 |
Kathryn Moncado Sec/tres | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $25 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$4,528 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,494,474 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $911,754 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $116,279 |
| Payroll taxes | $73,935 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,040 |
| Fees for services: Accounting | $75,094 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $46,763 |
| Advertising and promotion | $7,830 |
| Office expenses | $79,280 |
| Information technology | $31,770 |
| Royalties | $0 |
| Occupancy | $78,437 |
| Travel | $10,115 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,096 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,514 |
| Insurance | $66,867 |
| All other expenses | $0 |
| Total functional expenses | $3,028,624 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,106,624 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $319,069 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $50,603 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,512 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,293 |
| Total assets | $2,884,063 |
| Accounts payable and accrued expenses | $224,803 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,500 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $757,649 |
| Total liabilities | $984,952 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,899,111 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Foundations Inc has recieved totaling $16,256.
| Awarding Organization | Amount |
|---|---|
Asociacion Puertorriquenos En Marcha Inc Philadelphia, PA PURPOSE: CHILDREN SERVICES | $16,256 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bair Foundation Of Pennsylvania New Wilmington, PA | $4,400,305 | $17,358,075 |
Bair Foundation Of Texas New Wilmington, PA | $1,144,889 | $8,905,447 |
Tabor Childrens Services Inc Philadelphia, PA | $5,265,944 | $8,132,394 |
Mountain Lake Childrens Residence Inc Lake Placid, NY | $5,650,108 | $7,132,040 |
Cadence Care Network Niles, OH | $3,603,274 | $7,911,630 |
Ohio Teaching-Family Association Swanton, OH | $1,062,390 | $6,784,090 |
Childrens Choice Of Maryland Inc Bellmawr, NJ | $2,034,719 | $6,054,965 |
Childrens Choice Inc Chester, PA | $1,421,593 | $5,676,837 |
Children Have Options In Caring Environments Inc Dayton, OH | $1,950,175 | $5,061,139 |
Caring For Kids Inc Cuyahoga Falls, OH | $2,258,086 | $5,059,020 |
Family Care For Children&youth Inc Milton, PA | $3,265,351 | $3,892,797 |
Family Care Services Inc Chambersburg, PA | $2,460,289 | $4,002,413 |