New Foundations Development Inc
- Assets
- $103.9k
- Revenue
- $217.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Calhoun, GA
- Founding
- 07/2014
- Data as of
- 03/2022
- EIN
- 46-2225077
Organization Overview
New Foundations Development Inc is located in Calhoun, GA. The organization was established in 2014. According to its NTEE Classification (L81) the organization is classified as: Home Improvement & Repairs, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Foundations Development Inc 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 03/2022, New Foundations Development Inc generated $217.8k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 19.6% each year . All expenses for the organization totaled $214.1k during the year ending 03/2022. While expenses have increased by 15.4% per year over the past 2 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE AFFORDABLE HOUSING OPPORTUNITIES WITHING GORDON AND BARTOW COUNTIES IN THE STATE OF GEORGIA
Describe the Organization's Program Activity:
Part 3 - Line 4a
REHABILITATION FOR LOW INCOME HOME OWNERS.
REHABILITATION FOR LOW INCOME HOME OWNERS.
REHABILITATION FOR LOW INCOME HOME OWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clifford Free Chairman | Officer | 1 | $0 |
Clinton Marshall Vice Chair | Officer | 1 | $0 |
Scott Clements Director | Trustee | 1 | $0 |
Billie Jean Erwin Director | Trustee | 1 | $0 |
Rhonda Massingill Director | Trustee | 1 | $0 |
Grant Walraven Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $217,817 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $217,817 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $217,817 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $20,871 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $187,840 |
| Advertising and promotion | $0 |
| Office expenses | $1,729 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,269 |
| All other expenses | $0 |
| Total functional expenses | $214,059 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,776 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $67,115 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $103,891 |
| Accounts payable and accrued expenses | $27,083 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $27,083 |
| Net assets without donor restrictions | $76,808 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $103,891 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Foundations Development Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Housing Assistance Council Washington, DC PURPOSE: PROJECT DEVELOPMENT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Centro Campesino Farmworker Florida City, FL | $10,721,205 | $7,040,317 |
Rebuilding Together Tampa Bay Inc Tampa, FL | $2,463,309 | $5,698,883 |
St Johns Housing Partnership Inc St Augustine, FL | $9,704,774 | $3,605,355 |
Mountain Housing Opportunities Inc Asheville, NC | $35,342,140 | $6,111,464 |
Rebuilding Together Of The Triangle Morrisville, NC | $784,092 | $2,781,755 |
Community Housing Solutions Of Guilford Inc Greensboro, NC | $1,617,584 | $1,424,464 |
Resource Service Ministries Inc Atlanta, GA | $1,736,240 | $1,535,671 |
Rebuilding Together Of Greater Charlotte Inc Charlotte, NC | $993,357 | $1,359,244 |
Carolina Cross Connection Inc Gastonia, NC | $16,829 | $797,254 |
Rebuilding Together Atlanta Inc Atlanta, GA | $560,439 | $550,322 |
Elderly Housing Inc Charleston, SC | $3,604,680 | $529,796 |
James Island Outreach Charleston, SC | $390,536 | $834,518 |