Building New Foundations Inc

Analysis

Building New Foundations Inc is a registered charity in United States, based in The Villages, FL. It received its IRS tax-exemption ruling in October 2021, 5 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 December 2023, Building New Foundations Inc reported income of $853k and spending of $261k, leaving 69% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $685k to $853k (+25%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 41%. Over the whole period it spent 13% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Building New Foundations Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 79th percentile within FL. Charities of a similar size with the same main cause include Freedom Fighting Missionaries Inc ($852k), Inter-Church Council Housing Corporation ($853k) and First Home Alliance Inc ($852k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 10% of the total. Other salaries and wages came to $121k. At year end it held assets of $2.2m against liabilities of $19k, net assets of $2.2m.