New Foundations Inc
- Assets
- $2.4m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 57
- Location
- Wolcott, CT
- Founding
- 05/1988
- Data as of
- 06/2023
- EIN
- 06-1207406
Organization Overview
New Foundations Inc is located in Wolcott, CT. The organization was established in 1988. According to its NTEE Classification (P73) the organization is classified as: Group Homes, under the broad grouping of Human Services and related organizations. As of 06/2023, New Foundations Inc employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Foundations Inc 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 06/2023, New Foundations Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $3.0m during the year ending 06/2023. While expenses have increased by 4.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RESIDENTIAL FACILITIES, SUPPORTED LIVING PROGRAMS, AND VOCATIONAL SUPPORTS FOR INDIVIDUALS WITH SPECIAL NEEDS WHO ARE LOCATED THROUGHOUT THE STATE OF CONNECTICUT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY LIVING ARRANGEMENTS - GIVES DEVELOPMENTALLY DISABLED INDIVIDUALS A HOME IN THE COMMUNITY WHERE THEY CAN LEARN AND ACQUIRE NEW SKILLS, DEVELOP THEIR POTENTIAL ABILITIES AND BE PART OF THEIR COMMUNITY. THEY RECEIVE HEALTH AND BEHAVIORAL SUPPORT IN A 24-HOUR SUPERVISED ENVIRONMENT.
INDIVIDUALIZED DAY SERVICES - THE ORGANIZATION ASSISTS RESIDENTS IN A HOME ENVIRONMENT TEACHING VOCATIONAL/NON-VOCATIONAL SKILLS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Halagan Board President | OfficerTrustee | 0.5 | $0 |
Mike Gacek Board Secretary | OfficerTrustee | 0.5 | $0 |
Michael Carlson Board Member | Trustee | 0.5 | $0 |
Todd Burton Board Member | Trustee | 0.5 | $0 |
Sandra Vincenzo Executive Director | Officer | 40 | $88,531 |
Donna Buck Fiscal Affairs Administrator | Officer | 40 | $74,360 |
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 | $41,985 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,985 |
| Total Program Service Revenue | $2,940,538 |
| Investment income | $208 |
| 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 | $2,982,965 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $183,956 |
| Compensation of current officers, directors, key employees. | $183,956 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,833,127 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $127,550 |
| Payroll taxes | $164,721 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $39,967 |
| Advertising and promotion | $0 |
| Office expenses | $75,610 |
| Information technology | $5,342 |
| Royalties | $0 |
| Occupancy | $117,501 |
| Travel | $39,906 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $62,014 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $93,194 |
| Insurance | $55,775 |
| All other expenses | $0 |
| Total functional expenses | $3,031,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $583,886 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $199,268 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $53,599 |
| Net Land, buildings, and equipment | $1,464,447 |
| Investments—publicly traded securities | $7,690 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $75,317 |
| Total assets | $2,384,207 |
| Accounts payable and accrued expenses | $347,417 |
| Grants payable | $0 |
| Deferred revenue | $169,952 |
| 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 | $1,554,687 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $325,002 |
| Total liabilities | $2,397,058 |
| Net assets without donor restrictions | -$12,851 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,384,207 |