New Foundations Inc

Analysis

New Foundations Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in February 1991, 35 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2024, New Foundations Inc reported income of $2.7m and spending of $2.7m, spending 98% of its income. Across the 6 years on record, from June 2019 to June 2024, income fell from $3.1m to $2.7m (-14%), an average of -3.0% a year. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, New Foundations Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within PA. Charities of a similar size with the same main cause include Young People in Recovery ($2.7m), Hopeworks of Howard County Inc ($2.7m) and Scopa Has a Dream Inc ($2.7m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 99% of the total. Other salaries and wages came to $883k. At year end it held assets of $3.0m against liabilities of $712k, net assets of $2.3m. It reported 29 employees.