Newwave Foundation Inc
- Assets
- $345.1k
- Revenue
- $294.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Elkridge, MD
- Founding
- 10/2015
- Data as of
- 12/2021
- EIN
- 47-3938878
Organization Overview
Newwave Foundation Inc is located in Elkridge, MD. The organization was established in 2015. According to its NTEE Classification (T30) the organization is classified as: Public 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. Newwave Foundation 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 12/2021, Newwave Foundation Inc generated $294.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 28.7% each year . All expenses for the organization totaled $116.6k during the year ending 12/2021. While expenses have increased by 30.7% per year over the past 5 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 2019, Newwave Foundation Inc has awarded 44 individual grants totaling $128,952. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEWWAVE FOUNDATION PROVIDES GRANTS TO VARIOUS INSTITUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherifah Munis Executive Director | 20 | $0 | |
Patrick B Munis Board Member | 1 | $0 | |
Cynthia Charchi Board Member | 1 | $0 | |
Padmanabhan Seshaiyer Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $294,552 |
| Interest on Savings | $29 |
| Dividends & Interest | $0 |
| 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 | $294,581 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $14,181 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,851 |
| Total operating and administrative expenses | $50,232 |
| Contributions, gifts, grants paid | $66,325 |
| Total expenses and disbursements | $116,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,777 |
| Savings and temporary cash investments | $300,072 |
| Net Accounts receivable | $10,000 |
| 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 | $298 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $345,147 |
| Accounts payable and accrued expenses | $2,025 |
| 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 | $2,025 |
Grants Awarded
Over the last fiscal year, Newwave Foundation Inc has awarded $66,325 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
COLLEGEBOUND PURPOSE: SCHOLARSHIP | $23,000 |
EXTA LLC PURPOSE: GRANT FROM BUSINESS PITCH COMPETITION | $10,000 |
COLLEGEBOUND DC PURPOSE: NWF SCHOLARSHIPS | $9,500 |
HOWARD COMMUNITY COLLEGE PURPOSE: NWF SCHOLARSHIP | $5,000 |
PROJECT SEARCH PURPOSE: SCHOLARSHIP | $4,875 |
HAITI RELIEF INITIATIVE PURPOSE: DONATION FOR HAITI RELIEF INITIATIVE | $2,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Newwave Foundation Inc has recieved totaling $16.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $16 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jefferson Scholars Foundation Charlottesville, VA | $761,742,846 | $36,629,374 |
The Pauley Family Foundation Richmond, VA | $2,022,061,315 | $1,899,350,410 |
College Foundation Of The University Of Virginia Charlottesville, VA | $252,362,262 | $51,045,128 |
Homefree Usa Inc Landover, MD | $5,280,798 | $17,895,333 |
Feeding Pennsylvania Lemoyne, PA | $10,818,120 | $21,841,545 |
University Of Pittsburgh And Upmc Medical And Health Sciences Fdn Pittsburgh, PA | $0 | $12,874,250 |
James Family Charitable Foundation Charlottesville, VA | $171,150,056 | $16,638,935 |
Pittsburgh Promise Foundation Pittsburgh, PA | $59,585,111 | $15,082,951 |
Silver Valley Research Foundation Mclean, VA | $1,699,232 | $12,100,000 |
Pennsylvania Ems Provider Foundation Harrisburg, PA | $55,116 | $0 |
Helvetas Usa Washington, DC | $584,936 | $9,906,698 |
The M S Hershey Foundation Hershey, PA | $64,689,691 | $17,201,612 |