New Covenant Kg Foundation
- Assets
- $2.7m
- Revenue
- $237.7k
- Investments
- $1.5m
- Employees
- 0
- Location
- Frisco, TX
- Founding
- 06/2005
- Data as of
- 12/2021
- 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 12/2021, New Covenant Kg Foundation generated $237.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $232.1k during the year ending 12/2021. While expenses have increased by 2.3% 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.
Since 2014, New Covenant Kg Foundation has awarded 47 individual grants totaling $921,685. 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 | |
Clarence Iskandar Director | 1 | $0 | |
June Gunawan Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,444 |
| Interest on Savings | $3,757 |
| Dividends & Interest | $37,487 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $192,982 |
| Capital Gain Net Income | $192,982 |
| Net ST Capital Gain | $14,150 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $237,670 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,964 |
| Depreciation | $1,331 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $9,256 |
| Printing and publications | $0 |
| Other expenses | $9,000 |
| Total operating and administrative expenses | $60,248 |
| Contributions, gifts, grants paid | $171,875 |
| Total expenses and disbursements | $232,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,042 |
| Savings and temporary cash investments | $1,106,796 |
| 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 | $5,325 |
| Other assets | $0 |
| Total assets | $2,682,161 |
| Accounts payable and accrued expenses | $17,996 |
| 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 | $1 |
| Total liabilities | $17,997 |
Grants Awarded
Over the last fiscal year, New Covenant Kg Foundation has awarded $171,875 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Frisco, TX PURPOSE: NEW BUILDING CONSTRUCTION FUND | $120,000 |
EDO DWI CHRISTILANTO PURPOSE: CHRISTIAN APOLOGETIC MINISTRY FROM THE LOGIC/ACADEMIC PERSPECTIVE | $26,675 |
WORD ON FIRE PURPOSE: CHRISTIAN APOLOGETIC MINISTRY FROM THE LOGIC/ACADEMIC PERSPECTIVE | $12,000 |
AMERICAN CENTER FOR LAW AND JUSTICE PURPOSE: LEGAL ASSISTANCE | $6,000 |
REASONABLE FAITH PURPOSE: CHRISTIAN APOLOGETIC MINISTRY FROM THE LOGIC/ACADEMIC PERSPECTIVE | $3,600 |
JIAOSHI MINISTRIES PURPOSE: CHRISTIAN APOLOGETIC MINISTRY FROM THE LOGIC/ACADEMIC PERSPECTIVE | $3,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas A & M University 12th Man Foundation College Station, TX | $205,287,780 | $55,896,745 |
Noble Research Institute Llc Ardmore, OK | $149,630,598 | $47,833,341 |
Brazos Education Loan Authority Inc Waco, TX | $1,464,923,579 | $48,416,543 |
Folds Of Honor Foundation Owasso, OK | $73,033,715 | $51,158,137 |
Brazos Higher Education Authority Inc Waco, TX | $991,731,055 | $31,545,196 |
Terry Foundation Houston, TX | $405,880,401 | $20,877,529 |
At&t Foundation Dallas, TX | $30,306,998 | $4,969 |
New Mexico Educational Assistance Foundation Albuquerque, NM | $392,805,656 | $19,955,288 |
Greater Texas Foundation Bryan, TX | $0 | $15,972,442 |
Post Oak School Bellaire, TX | $33,296,853 | $15,447,844 |
American Indian Graduate Center Inc Albuquerque, NM | $28,393,677 | $10,605,933 |
Robert G Carr & Nona K Carr Scholarship Foundation San Angelo, TX | $175,014,798 | $4,176,344 |