Modest Needs Foundation
- Assets
- $1.4m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 6
- Location
- New York, NY
- Founding
- 06/2002
- Data as of
- 12/2021
- EIN
- 47-0863430
Organization Overview
Modest Needs Foundation is located in New York, NY. The organization was established in 2002. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 12/2021, Modest Needs Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Modest Needs Foundation 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 12/2021, Modest Needs Foundation generated $2.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. While expenses have increased by 4.5% 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
MODEST NEEDS EXISTS TO PREVENT OTHERWISE SELF-SUFFICIENT INDIVIDUALS AND FAMILIES FROM ENTERING THE CYCLE OF POVERTY BY HELPING THESE PERSONS TO SHOULDER THE BURDEN OF A SHORT-TERM, EMERGENCY EXPENSE. IN THIS WAY, MODEST NEEDS PROMOTES THE SELF-SUFFICIENCY OF THE WORKING POOR WHILE SIMULTANEOUSLY LESSENING THE BURDEN OF STATE AND FEDERAL AGENCIES CHARGED WITH THE CARE OF THE TRULY INDIGENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, MODEST NEEDS PROVIDED 2,468 GRANTS REACHING 7,437 INDIVIDUALS AND FAMILIES WHO HAD APPLIED FOR ASSISTANCE UNDER OUR SELF-SUFFICIENCY, HOMECOMING HEROES, AND COVID-19 RELIEF GRANT PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Keith P Taylor President | Officer | 60 | $193,322 |
Annemarie E Galvin Director Of Operations | Officer | 40 | $94,961 |
Thierry Mellon Board Member | Trustee | 2 | $0 |
Maria Castillo Treasurer | Trustee | 2 | $0 |
Rosa Ng Vice-Chair | Trustee | 5 | $0 |
Rebekah Hoffman Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,687,896 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,687,896 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $2,687,896 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,755,827 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $288,293 |
| Compensation of current officers, directors, key employees. | $68,232 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $217,896 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $51,564 |
| Payroll taxes | $37,983 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,000 |
| Fees for services: Accounting | $37,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $39,413 |
| Office expenses | $12,652 |
| Information technology | $55,229 |
| Royalties | $0 |
| Occupancy | $46,600 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,936 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,158 |
| All other expenses | $0 |
| Total functional expenses | $2,641,892 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,616 |
| Savings and temporary cash investments | $855,101 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $448,650 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,377,367 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,377,367 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,377,367 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Modest Needs Foundation has recieved totaling $185,429.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $101,340 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $40,850 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $10,616 |
The Foundation For Enhancing Communities Harrisburg, PA PURPOSE: HUMAN SERVICE | $10,000 |
Bright Funds Foundation San Jose, CA PURPOSE: GENERAL PURPOSE | $8,068 |
Lynn And Bruce Gibson Foundation Bellevue, WA PURPOSE: CHARITY SUPPORT | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Springfield Rescue Mission Inc Springfield, MA | $3,518,136 | $17,540,773 |
Good Plus Foundation Inc New York, NY | $6,013,741 | $13,844,054 |
Bucks County Opportunity Council Inc Doylestown, PA | $4,467,309 | $12,553,071 |
Water Street Ministries Lancaster, PA | $27,847,945 | $13,681,131 |
Center For Food Action In New Jersey Englewood, NJ | $5,813,047 | $11,348,848 |
Greg Hill Foundation Woburn, MA | $6,630,527 | $13,875,487 |
Light Of Life Ministries Inc Pittsburgh, PA | $24,514,350 | $12,091,518 |
Caties Closet Inc Dracut, MA | $4,577,081 | $8,342,538 |
Real Alternatives Harrisburg, PA | $3,218,782 | $7,572,282 |
Rescue Mission Of Trenton Trenton, NJ | $15,440,834 | $6,507,086 |
Old Order Amish Helping Program Elizabethville, PA | $294,169,877 | $7,401,236 |
My Brothers Keeper Inc South Easton, MA | $7,204,366 | $7,147,768 |