Modest Needs Foundation
- Assets
- $1.1m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 6
- Location
- New York, NY
- Founding
- 06/2002
- Data as of
- 12/2022
- EIN
- 47-0863430
Organization Overview
Modest Needs Foundation is located in New York, NY. The organization was established in 2002. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 12/2022, Modest Needs Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Modest Needs 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, Modest Needs Foundation generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 7 years. 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
MODEST NEEDS EXISTS TO PREVENT OTHERWISE SELF-SUFFICIENT INDIVIDUALS AND FAMILIES FROM ENTERING THE CYCLE OF POVERTY BY HELPING THESE PERSONS TO SHOULDER THE BURDEN OF A SHORT-TERM, EMERGENCY EXPENSE. IN THIS WAY, MODEST NEEDS PROMOTES THE SELF-SUFFICIENCY OF THE WORKING POOR WHILE SIMULTANEOUSLY LESSENING THE BURDEN OF STATE AND FEDERAL AGENCIES CHARGED WITH THE CARE OF THE TRULY INDIGENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, MODEST NEEDS PROVIDED 1,618 GRANTS REACHING 5,286 INDIVIDUALS AND FAMILIES WHO HAD APPLIED FOR ASSISTANCE UNDER OUR SELF-SUFFICIENCY, HOMECOMING HEROES, AND COVID-19 RELIEF GRANT PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Keith P Taylor President | Officer | 60 | $108,041 |
Thierry Mellon Treasurer | Trustee | 2 | $0 |
Rebekah Hoffman Vice-Chair / Secretary | Trustee | 2 | $0 |
Charles Cissel Chair | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,595,548 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,595,548 |
| 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 | $1,595,548 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $984,558 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $198,904 |
| Compensation of current officers, directors, key employees. | $54,087 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $260,369 |
| Pension plan accruals and contributions | $37,500 |
| Other employee benefits | $77,139 |
| Payroll taxes | $31,388 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,800 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $36,871 |
| Office expenses | $14,160 |
| Information technology | $45,502 |
| Royalties | $0 |
| Occupancy | $45,267 |
| Travel | $2,143 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,634 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,339 |
| Insurance | $10,720 |
| All other expenses | $0 |
| Total functional expenses | $1,865,407 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,966 |
| Savings and temporary cash investments | $375,506 |
| 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 | $704,036 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,107,508 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $1,107,508 |
| 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 | $1,107,508 |