Newwave Foundation Inc
- Assets
- $294.6k
- Revenue
- $42.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Elkridge, MD
- Founding
- 10/2015
- Data as of
- 12/2022
- EIN
- 47-3938878
Organization Overview
Newwave Foundation Inc is located in Elkridge, MD. The organization was established in 2015. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newwave Foundation 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 12/2022, Newwave Foundation Inc generated $42.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.7%) each year. All expenses for the organization totaled $90.8k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Newwave Foundation Inc has awarded 49 individual grants totaling $170,852. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEWWAVE FOUNDATION PROVIDES GRANTS TO VARIOUS INSTITUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherifah Munis Executive Director | 20 | $0 | |
Patrick B Munis Member | 1 | $0 | |
Cynthia Charchi Member | 1 | $0 | |
Padmanabhan Seshaiyer Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $41,847 |
| Interest on Savings | $405 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $42,252 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $21,375 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,262 |
| Total operating and administrative expenses | $48,867 |
| Contributions, gifts, grants paid | $41,900 |
| Total expenses and disbursements | $90,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,806 |
| Savings and temporary cash investments | $275,474 |
| Net Accounts receivable | $5,000 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $327 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $294,607 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Newwave Foundation Inc has awarded $41,900 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
COLLEGEBOUND FOUNDATION PURPOSE: NWF SCHOLARSHIPS | $11,500 |
OPEN PARACHUTE PURPOSE: MENTAL HEALTH PROGRAM ON BEHALF OF COLLEGEBOUND DC | $1,900 |
HOWARD COMMUNITY COLLEGE PURPOSE: SCHOLARSHIP | $3,500 |
TANIA CHACKUMKAL PURPOSE: NWF PITCH PERFECT AWARD | $10,000 |
LESLIE WINSTON III PURPOSE: NWF PITCH PERFECT AWARD | $15,000 |