New Life Foundation
- Assets
- $72.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Derwood, MD
- Founding
- 04/2012
- Data as of
- 12/2021
- 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 12/2021, New Life Foundation generated $34.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.7%) each year. All expenses for the organization totaled $24.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (20.5%) per year over the past 6 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 | |
Steve Tae Executive Director | 10 | $0 | |
Jenny Wang Treasurer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,555 |
| Total Program Service Revenue | $15,410 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $33,965 |
| 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 | $6,397 |
| Occupancy, rent, utilities, and maintenance | $4,180 |
| Printing, publications, postage, and shipping | $3,130 |
| Other expenses | $10,680 |
| Total expenses | $24,387 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $72,185 |
| Other assets | $0 |
| Total assets | $72,185 |
| Total liabilities | $0 |
| Net assets or fund balances | $72,185 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Life Foundation has recieved totaling $53.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $53 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Herbie Hancock Institute Of Jazz Washington, DC | $2,606,776 | $2,382,953 |
Play On Philly Philadelphia, PA | $3,128,034 | $1,933,765 |
Liveconnections Org Philadelphia, PA | $1,829,032 | $2,774,957 |
Opera Lafayette Washington, DC | $934,993 | $1,317,563 |
Dc Jazz Festival Washington, DC | $509,622 | $1,492,287 |
Musicopia Inc Philadelphia, PA | $886,541 | $1,214,458 |
National Association Of Securities Professionals Washington, DC | $381,412 | $1,369,032 |
Garth Newel Music Center Foundation Corp Warm Springs, VA | $11,030,155 | $3,286,449 |
Alliance For Middle East Peace Inc Washington, DC | $1,104,153 | $1,242,168 |
Reading Musical Foundation Reading, PA | $17,638,151 | $3,531,006 |
Certification Board For Music Therapists Downingtown, PA | $1,562,068 | $1,221,804 |
Quakers Ice Hockey Association Sharon Hill, PA | $799,205 | $860,974 |