New World Foundation
- Assets
- $123.5m
- Revenue
- $20.3m
- Investments
- $0.0
- Employees
- 14
- Location
- New York, NY
- Founding
- 06/1959
- Data as of
- 09/2023
- EIN
- 13-1919791
Organization Overview
New World Foundation is located in New York, NY. The organization was established in 1959. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 09/2023, New World Foundation employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New World Foundation 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 09/2023, New World Foundation generated $20.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $24.7m during the year ending 09/2023. While expenses have increased by 4.3% per year over the past 8 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.
Since 2015, New World Foundation has awarded 1,284 individual grants totaling $69,546,419. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT COMMUNITY ACTIVISTS ACROSS AMERICA AND AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
QUALITY JOBS FUND:THE QUALITY JOBS FUND IS A MAJOR INITIATIVE TO ENHANCE COMMUNITY WEALTH AND THE POTENTIAL OF WORKING FAMILIES BY SEEDING SUSTAINABLE LONG-TERM COMMUNITY WELLBEING PROGRAMS IN DISTRESSED COMMUNITIES OF ARIZONA, CALIFORNIA AND NEVADA. OUR GOAL: TO ADDRESS THE PROBLEMS OF INEQUALITY THROUGH QUALITY JOB EXPANSION AND SKILL DEVELOPMENT.
NEW MAJORITY FUND, PHOENIX FUND, CLIMATE FUND, GOOD WILL FUND, FLEMING AWARDS, MARGA FUND, DIVERSE ASSET MANAGERS INITIATIVE, TRC, ZERO CARBON MA.
ERE - EDUCATION FOR RACIAL EQUITY:PROJECT WAS ESTABLISHED AS A CROSS-RACIAL AND INTER-GENERATIONAL PROJECT COMMITTED TO SUPPORT THE LARGER FIELD FOR SOMATIC ABOLITIONISM MOVEMENT AND OUR EFFORTS AIM TOWARDS BUILDING ANTI-RACIST CULTURE INTERNATIONALLY. THE MOMENTUM OF THE BURGEONING LOCAL FOOD MOVEMENT.
LOCAL ECONOMIES PROJECT & P CLIMATE ACTION PROJECT:THE LOCAL ECONOMIES PROJECT SUPPORTS VIBRANT, INTERCONNECTED COMMUNITIES THAT ARE POWERED BY THE PEOPLE WHO LIVE THERE. WE SEE FOOD AND FARMING AS A CORNERSTONE OF EVERY REGION AND CRITICAL TO THE MOVEMENT TOWARDS STRONGER, MORE RESILIENT ECONOMIES. OUR MAJOR INITIATIVES: PARTNERS FOR CLIMATE ACTION AND LOCAL STEWARDSHIP AND COMMUNITY, REVOLVE AROUND SUPPORTING COMMUNITIES IN REPAIR OF OUR NATURAL SYSTEMS, MEND OUR CIVIC FABRIC, AND USHER IN A MORE COOPERATIVE AND RESILIENT FUTURE.
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 |
|---|---|---|---|
Fred Azcarate Board Chair | OfficerTrustee | 1 | $0 |
Jonathan Glionna Vice Chair | OfficerTrustee | 1 | $0 |
Linda Colon Treasurer | OfficerTrustee | 1 | $0 |
Cynthia Choi Secretary | OfficerTrustee | 1 | $0 |
Lisa Abbot Board Director | Trustee | 1 | $0 |
David Harrison Board Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Patterson Belknap Webb & Tylor Llp Legal Fees | 9/29/23 | $280,849 |
The Raben Group Program Consulting | 9/29/23 | $285,976 |
Bridge Zale Construction Corp Construction | 9/29/23 | $1,065,456 |
Carlin Quinnlmft Program Consulting | 9/29/23 | $196,000 |
Seoul Metal And Glass Inc Construction | 9/29/23 | $266,200 |
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 | $16,719,199 |
| Noncash contributions included in lines 1a–1f | $8,914,384 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,719,199 |
| Total Program Service Revenue | $1,331,763 |
| Investment income | $2,621,939 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$436,790 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,326,734 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,493,941 |
| Grants and other assistance to domestic individuals. | $120,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $115,300 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,087,840 |
| Compensation of current officers, directors, key employees. | $350,947 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $780,409 |
| Pension plan accruals and contributions | $162,317 |
| Other employee benefits | $506,519 |
| Payroll taxes | $121,041 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $320,927 |
| Fees for services: Accounting | $50,401 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $115,107 |
| Fees for services: Other | $2,904,951 |
| Advertising and promotion | $0 |
| Office expenses | $207,869 |
| Information technology | $20,991 |
| Royalties | $0 |
| Occupancy | $76,237 |
| Travel | $162,953 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $279,879 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,822 |
| Insurance | $40,821 |
| All other expenses | $0 |
| Total functional expenses | $24,684,927 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,390,877 |
| Pledges and grants receivable | $1,545,512 |
| Accounts receivable, net | $318,086 |
| 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 | $21,656 |
| Net Land, buildings, and equipment | $12,325,174 |
| Investments—publicly traded securities | $60,651,001 |
| Investments—other securities | $0 |
| Investments—program-related | $40,251,640 |
| Intangible assets | $0 |
| Other assets | $8,052 |
| Total assets | $123,511,998 |
| Accounts payable and accrued expenses | $1,130,520 |
| Grants payable | $591,579 |
| Deferred revenue | $0 |
| 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 | $2,914,384 |
| Unsecured mortgages and notes payable | $6,416,137 |
| Other liabilities | $1,819,480 |
| Total liabilities | $12,872,100 |
| Net assets without donor restrictions | $103,584,954 |
| Net assets with donor restrictions | $7,054,944 |
| 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 | $123,511,998 |
Grants Awarded
Over the last fiscal year, New World Foundation has awarded $17,297,672 in support to 107 organizations.
| Grant Recipient | Amount |
|---|---|
350 COLORADO PURPOSE: GENERAL SUPPORT | $25,000 |
AMIGOS OF COSTA RICA INC PURPOSE: GENERAL SUPPORT | $18,000 |
CHINATOWN PEOPLE PROGRESSIVE ASSOCIATION INC DBA CHINESE PROGRESSIVE ASSOC PURPOSE: GENERAL SUPPORT | $35,000 |
CHRISTIAN APPALACHIAN PROJECT PURPOSE: GENERAL SUPPORT | $897,993 |
COALITION FOR SOCIAL JUSTICE EDUCATION FUND INC PURPOSE: GENERAL SUPPORT | $50,000 |
EARTHWORKS PURPOSE: GENERAL SUPPORT | $25,000 |