New Life Foundation
- Assets
- $75.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Derwood, MD
- Founding
- 04/2012
- Data as of
- 12/2022
- EIN
- 36-4710533
Organization Overview
New Life Foundation is located in Derwood, MD. The organization was established in 2012. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Life 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 Life Foundation generated $47.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (17.3%) each year. All expenses for the organization totaled $43.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (18.6%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Cho President | 20 | $0 | |
Hyewon Yoon Director | 10 | $0 | |
Jenny Wang Treasurer | 10 | $0 | |
Steve Tae Executive Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,175 |
| Total Program Service Revenue | $41,284 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $47,459 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $31,709 |
| Occupancy, rent, utilities, and maintenance | $3,869 |
| Printing, publications, postage, and shipping | $1,414 |
| Other expenses | $6,930 |
| Total expenses | $43,922 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $75,722 |
| Other assets | $0 |
| Total assets | $75,722 |
| Total liabilities | $0 |
| Net assets or fund balances | $75,722 |