New Gate To Peace Foundation
- Assets
- $1.4m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 07/2006
- Data as of
- 12/2023
- EIN
- 55-0907295
Organization Overview
New Gate To Peace Foundation is located in Houston, TX. The organization was established in 2006. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Gate To Peace 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 12/2023, New Gate To Peace Foundation generated $7.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $8.7m during the year ending 12/2023. While expenses have increased by 5.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PROMOTION OF PILGRIMAGES, TOURS AND RETREATS TO THE HOLY LAND. SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF TOURS, VISITS AND RETREATS TO HOLY LAND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gabriel Sotres Vice President | OfficerTrustee | 2 | $0 |
Jose Gerardo Cardenas Secretary/treasurer | OfficerTrustee | 2 | $0 |
Michael Brisson Director | Trustee | 2 | $0 |
Juan Maria Solana Director | Trustee | 2 | $0 |
Luis Manuel Gutierrez Director | Trustee | 2 | $0 |
Frank Formolo President | Officer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Case Consulting Services Inc Consulting Service | 6/29/16 | $747,920 |
Ngt Mexico Sa De Cv Labor Services | 6/29/16 | $244,772 |
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 | $4,056,641 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,056,641 |
| Total Program Service Revenue | $3,652,295 |
| Investment income | $3,460 |
| 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 | $7,712,396 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,500,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $402,557 |
| 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 | $22,616 |
| Fees for services: Legal | $29,803 |
| Fees for services: Accounting | $29,706 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $2,049 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,270 |
| 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 | $0 |
| All other expenses | $162,525 |
| Total functional expenses | $8,686,558 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $607,930 |
| 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 | $24,556 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $765,299 |
| Total assets | $1,397,785 |
| Accounts payable and accrued expenses | $10,095 |
| Grants payable | $0 |
| Deferred revenue | $277,527 |
| 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 | $724,709 |
| Total liabilities | $1,012,331 |
| Net assets without donor restrictions | $0 |
| 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 | $385,454 |
| Total liabilities and net assets/fund balances | $1,397,785 |
Grants Awarded
Over the last fiscal year, New Gate To Peace Foundation has awarded $1,952,750 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE LEGION OF CHRIST NORTH AMERICA INC PURPOSE: Program Services | $42,750 |
ARKE INC PURPOSE: PROGRAM SERVICES | $1,910,000 |