New Foundations Development Inc

Analysis

New Foundations Development Inc is a registered charity in United States, based in Calhoun, GA. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 March 2024, New Foundations Development Inc reported income of $670k and spending of $590k, spending 88% of its income. Across the 4 years on record, from March 2021 to March 2024, income grew from $152k to $670k (+340%), an average of +64% a year. The sharpest change came in the year to March 2024, when income rose by 284%. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Foundations Development Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 78th percentile within GA. Charities of a similar size with the same main cause include Tabitha Alf Real Estate Holding Inc ($670k), Maryland Inclusive Housing Corporation ($670k) and American Friends of Belz Inc ($670k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $173k against liabilities of $0, net assets of $173k.