New World Foundation

Analysis

New World Foundation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 1959, 67 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, New World Foundation reported income of $20.3m and spending of $24.7m, spending 121% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $56.8m to $20.3m (-64%), an average of -23% a year. The sharpest change came in the year to September 2021, when income dropped by 67%. Over the whole period it spent 72% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, New World Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Idaho Community Foundation Inc ($20.3m), North Georgia Community Foundation ($20.4m) and Lancaster County Community Foundation ($20.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 82% and program service revenue 6.6% of the total. Compensation of current officers, directors and key employees was $1.1m (4.4% of expenses). Other salaries and wages came to $780k. At year end it held assets of $123.5m against liabilities of $12.9m, net assets of $110.6m. It reported 14 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.