New Life Foundation
- Assets
- $214.2k
- Revenue
- $17.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Vienna, VA
- Founding
- 02/2012
- Data as of
- 06/2024
- 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 06/2024, New Life Foundation generated $17.9k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $39.2k during the year ending 06/2024. While expenses have increased by 5.5% per year over the past 9 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 2016, New Life Foundation has awarded 141 individual grants totaling $303,650. 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 | $17,940 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $17,940 |
| 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 | $725 |
| Printing and publications | $0 |
| Other expenses | $2,081 |
| Total operating and administrative expenses | $3,206 |
| Contributions, gifts, grants paid | $36,000 |
| Total expenses and disbursements | $39,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,751 |
| Savings and temporary cash investments | $189,485 |
| 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 | $214,236 |
| 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 $36,000 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
LITTLE LIGHT URBAN MINISTRIES PURPOSE: AFTER SCHOOL PROGRAM | $3,000 |
THE BRIDGE US PURPOSE: TO PROVIDE SUPPORTFOR BUSINESS DEVELOPMENTIN DEVELOPING COUNTRIES | $0 |
GOOD SPOON PURPOSE: TO SUPPORT CHRISTIAN MISSION FOR LOW INCOME HISPANIC RESIDENTSIN WASHINGTON DC METROPOLITAN AREA | $5,000 |
WASHINGTON MINDCARE INSTITUTE PURPOSE: TO SUPPORT COUNSELING SERVICES, CHILDCARE PROGRAM FOR VICTIMS OF DOMESTICVIOLENCE AND MENTORING TUTOR PORGRAM. | $2,500 |
WASHINGTON KOREAN BAPTIST CHURCH PURPOSE: TO SUPPORT MISSIONARY WORKIN GERMANY FOR REFUGEES FROMMIDDLE EAST | $5,000 |
MKPCUSA FOR CHILDREN EDUCATION FELLOWSHIP PURPOSE: TO SUPPORT CHRISTIANEDUCATION OF CHILDRENVIA ART | $3,000 |