New Covenant Kg Foundation
- Assets
- $2.5m
- Revenue
- $53.4k
- Investments
- $1.6m
- Employees
- 0
- Location
- Frisco, TX
- Founding
- 06/2005
- Data as of
- 12/2022
- EIN
- 20-1784734
Organization Overview
New Covenant Kg Foundation is located in Frisco, TX. The organization was established in 2005. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Covenant Kg 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 12/2022, New Covenant Kg Foundation generated $53.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (14.8%) each year. All expenses for the organization totaled $311.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, New Covenant Kg Foundation has awarded 60 individual grants totaling $1,253,477. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kingson Gunawan President | 20 | $0 | |
Roy Laurens Director | 1 | $0 | |
June Gunawan Director | 1 | $0 | |
Clarence Iskandar Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,000 |
| Interest on Savings | $4,464 |
| Dividends & Interest | $39,692 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,210 |
| Capital Gain Net Income | $7,210 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $53,366 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,937 |
| Depreciation | $2,738 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $33,833 |
| Printing and publications | $0 |
| Other expenses | $23,609 |
| Total operating and administrative expenses | $98,872 |
| Contributions, gifts, grants paid | $213,007 |
| Total expenses and disbursements | $311,879 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,172 |
| Savings and temporary cash investments | $792,197 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $6,688 |
| Other assets | $1 |
| Total assets | $2,484,379 |
| Accounts payable and accrued expenses | $78,728 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $78,728 |
Grants Awarded
Over the last fiscal year, New Covenant Kg Foundation has awarded $213,007 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
STONEBRIAR COMMUNITY CHURCH PURPOSE: NEW BUILDING CONSTRUCTION FUND | $88,500 |
REASONABLE FAITH PURPOSE: CHRISTIAN APOLOGETIC MINISTRY FROM THE LOGIC/ACADEMIC PERSPECTIVE | $3,600 |
AMERICAN CENTER FOR LAW AND JUSTICE PURPOSE: LEGAL ASSISTANCE | $6,000 |
EDO DWI CHRISTILANTO PURPOSE: CHRISTIAN APOLOGETIC MINISTRY FROM THE LOGIC/ACADEMIC PERSPECTIVE | $45,807 |
JIAOSHI MINISTRIES PURPOSE: CHRISTIAN APOLOGETIC MINISTRY FROM THE LOGIC/ACADEMIC PERSPECTIVE | $3,600 |
WORD ON FIRE PURPOSE: CHRISTIAN APOLOGETIC MINISTRY FROM THE LOGIC/ACADEMIC PERSPECTIVE | $12,000 |