New Life Foundation
- Assets
- $261.3k
- Revenue
- $9.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Vienna, VA
- Founding
- 02/2012
- Data as of
- 06/2022
- EIN
- 38-3835125
Organization Overview
New Life Foundation is located in Vienna, VA. The organization was established in 2012. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations 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 06/2022, New Life Foundation generated $9.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $38.6k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, New Life Foundation has awarded 108 individual grants totaling $238,650. 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 |
|---|---|---|---|
Moon Ja Kim President | 1 | $0 | |
Jungja P Yoon Vice President | 1 | $0 | |
Sook Ja Lee Secretary | 1 | $0 | |
Yoon Joo Lee Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $9,856 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $73,490 |
| Net ST Capital Gain | $52,310 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $9,856 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $651 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,051 |
| Contributions, gifts, grants paid | $37,500 |
| Total expenses and disbursements | $38,551 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,879 |
| Savings and temporary cash investments | $248,465 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $261,344 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, New Life Foundation has awarded $37,500 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
Alexandria, VA PURPOSE: TO SUPPORT CHRISTIAN MISSION FOR LOW INCOME HISPANIC RESIDENTSIN WASHINGTON DC METROPOLITAN AREA | $7,000 |
THE BRIDGE US PURPOSE: TO PROVIDE SUPPORTFOR BUSINESS DEVELOPMENTIN DEVELOPING COUNTRIES | $5,000 |
Metuchen, NJ PURPOSE: TO SUPPORT BUILDINGCHRISTIAN SCHOOLS IN ACCRA, GHANA | $5,000 |
Washington, DC PURPOSE: AFTER SCHOOL PROGRAM | $3,500 |
Silver Spring, MD PURPOSE: TO SUPPORT MISSIONARY WORKIN GERMANY FOR REFUGEES FROMMIDDLE EAST | $3,000 |
MKPCUSA FOR CHILDREN EDUCATION FELLOWSHIP PURPOSE: TO SUPPORT CHRISTIANEDUCATION OF CHILDRENVIA ART | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nora Roberts Foundation Inc Glenn Dale, MD | $90,657,767 | $17,263,079 |
Hazel Ruby Mcquain Charitable Tr Morgantown, WV | $103,286,088 | $9,092,496 |
Fellowship Foundation Inc Arlington, VA | $7,901,984 | $7,885,643 |
Goodnight Educational Foundation Cary, NC | $149,468,750 | $4,782,379 |
Reinhart Foundation Richmond, VA | $39,727,277 | $36,137,915 |
Charis Foundation Knoxville, TN | $16,682,566 | $7,998,986 |
Skeebo Foundation Charlotte, NC | $58,827,572 | $60,108,534 |
Charles T Bauer Charitable Foundation Baltimore, MD | $0 | $6,889,193 |
Oak Hill Fund Charlottesville, VA | $99,384,131 | $7,166,197 |
Marriott Daughters Foundation Bethesda, MD | $79,408,936 | $2,865,441 |
Sylvan C Herman Foundation Inc Washington, DC | $0 | $6,659,474 |
Naomi And Nehemiah Cohen Foundation Virginia Corporation Bethesda, MD | $106,455,928 | $12,590,743 |