New Gate To Peace Foundation
- Assets
- $2.5m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 07/2006
- Data as of
- 12/2021
- EIN
- 55-0907295
Organization Overview
New Gate To Peace Foundation is located in Houston, TX. The organization was established in 2006. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Gate To Peace 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, New Gate To Peace Foundation generated $3.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (12.9%) per year over the past 7 years. 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
"SEE SCHEDULE O"
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF TOURS, VISITS AND RETREATS TO HOLY LAND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jose Gerardo Cardenas Secretary/treasurer | OfficerTrustee | 2 | $0 |
Gabriel Sotres Vice President | OfficerTrustee | 2 | $0 |
Frank Formolo President | Officer | 2 | $0 |
Michael Brisson Director | Trustee | 2 | $0 |
Luis Manuel Gutierrez Director | Trustee | 2 | $0 |
Guillermo Garcia Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ngt Mexico Sa De Cv Labor Services | 6/29/16 | $244,772 |
Case Consulting Services Inc Consulting Service | 6/29/16 | $747,920 |
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 | $3,633,173 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,633,173 |
| 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 | $3,633,173 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,771,200 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $114,525 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $59,989 |
| Fees for services: Legal | $20,296 |
| Fees for services: Accounting | $20,882 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $413 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,059,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,460,848 |
| Savings and temporary cash investments | $0 |
| 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 | $25,625 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,986 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,498,459 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $182,977 |
| 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 | $182,977 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $2,315,482 |
| Total liabilities and net assets/fund balances | $2,498,459 |
Grants Awarded
Over the last fiscal year, New Gate To Peace Foundation has awarded $1,952,750 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ARKE INC PURPOSE: PROGRAM SERVICES | $1,910,000 |
THE LEGION OF CHRIST NORTH AMERICA INC PURPOSE: Program Services | $42,750 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that New Gate To Peace Foundation has recieved totaling $660,885.
| Awarding Organization | Amount |
|---|---|
Jewish Federation Of Greater Atlanta Inc Atlanta, GA PURPOSE: DONATIONS | $500,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $100,000 |
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: RELIGION-RELATED | $50,000 |
Organization Name not Listed PURPOSE: Religious/Education | | $10,885 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Family Legacy Missions International Dallas, TX | $14,330,799 | $19,529,503 |
East-West Ministries International Plano, TX | $8,184,642 | $19,204,558 |
Marketplace Ministries Inc Plano, TX | $5,987,779 | $19,506,765 |
Pioneer Bible Translators Dallas, TX | $22,558,672 | $19,174,102 |
Society Of St Vincent De Paul Archdiocese Of Galveston-Houston Houston, TX | $7,339,150 | $16,634,792 |
E3 Partners Ministry Plano, TX | $6,012,362 | $14,710,236 |
San Antonio Metropolitan Ministry Inc San Antonio, TX | $12,579,627 | $13,414,405 |
Sower Of Seeds International Ministries Inc Keller, TX | $3,316,148 | $10,449,598 |
Restore Hope Ministries Inc Tulsa, OK | $8,417,745 | $10,753,534 |
Les Feldick Ministries Kinta, OK | $8,711,680 | $12,215,004 |
Union Gospel Mission Of Tarrant County Fort Worth, TX | $65,887,376 | $29,455,408 |
Minnie Slaughter Veal Memorial Fund Dallas, TX | $15,276,892 | $11,585,960 |