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New Foundations INC FY2022 filing

Tax-deductible

Philadelphia, PA501(c)(3)Human ServicesEIN 23-2610384

To serve both families and children in the efforts of uniting with one another and to represent them in this process, to foster bonding relationships between children and family, to identify and eliminate barriers that keep children and families apart, and to work together with county agencies to shorten the time children and families are involved in the child welfare system.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $143K a year · 5% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$756K
27% of total assets
Looks good: liabilities are 27% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.1M
-11% vs prior year
Spent
$2.9M
To programs
94%
Net assets
$2.1M
By yearFY2020–FY2025
Revenue
$3.1M
FY2022▼ -11%
Revenue by fiscal year
FY2020$3.1M
FY2021$3.5M
FY2022$3.1M
FY2023$2.9M
FY2024$2.7M
FY2025$2.4M
Expenses
$2.9M
FY2022▼ -3%
Expenses by fiscal year
FY2020$3.0M
FY2021$3.0M
FY2022$2.9M
FY2023$2.8M
FY2024$2.7M
FY2025$2.6M
Net assets
$2.1M
FY2022▲ +9%
Net assets by fiscal year
FY2020$1.4M
FY2021$1.9M
FY2022$2.1M
FY2023$2.2M
FY2024$2.3M
FY2025$2.1M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2025 (typical filing lag)
Legal name (IRS)Hdr · item CNew Foundations INC
EINHdr · item D23-2610384
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFFeb 1991
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CPhiladelphia, PA
NTEE classificationIRS BMFHuman Services (P320)
WebsiteHdr · item Jwww.nfi4kids.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.94 Management & general $0.06
Program services94%$2.8M
Management & general6%$174K
Total functional expensesLn 25$2.9M

Financial health

Is it on solid ground?

Program efficiency
94%
of spending reaches programs
Operating runway
4.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
+6%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$2.8M
FY2022▼ -2%
Total assets by fiscal year
FY2020$2.4M
FY2021$2.9M
FY2022$2.8M
FY2023$2.9M
FY2024$3.0M
FY2025$2.8M
Total liabilities
$756K
FY2022▼ -23%
Total liabilities by fiscal year
FY2020$992K
FY2021$985K
FY2022$756K
FY2023$676K
FY2024$712K
FY2025$700K
Revenue less expensesPt I · Ln 19$174K
Total assetsPt X · Ln 16$2.8M
Program-expense ratioPt IX · col B94%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Balance Sheet

Part X · end of year
CashLn 1$1.1M
Total assetsLn 16$2.8M
Total liabilitiesLn 26$756K
Total net assetsLn 32$2.1M
Months of cash on handcomputed4.3

Statement of Revenue

Part VIII
Program service revenue$3.1M · 99%
Other revenue$18K · 1%
Program service revenue99%$3.1M
Other revenue1%$18K
Total revenueLn 12$3.1M

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.1M · Operating expenses/yr $2.9M
4.3 months
Where the money goes
Program services
Program services $2.8M · Total expenses $2.9M
94%
Management & General
Management & general $174K · Total expenses $2.9M
6%
Fundraising
Fundraising $0 · Total expenses $2.9M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $3.1M
0%
Government reliance
Government grants — · Total revenue $3.1M
—
Earned-income share
Program service revenue $3.1M · Total revenue $3.1M
99%
Investment reliance
Investment income $0 · Total revenue $3.1M
0%
Program self-sufficiency
Program service revenue $3.1M · Total expenses $2.9M
105%
Growth & trend
Revenue growth (YoY)
This year $3.1M · Prior year $3.5M
-11%
Net-asset trend (YoY)
End of year $2.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $3.1M · Expenses $2.9M
+6%
Liabilities-to-Assets
Total liabilities — · Total assets $2.8M
—
Net-asset ratio
Net assets $2.1M · Total assets $2.8M
73%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $1K · Total assets (Pt X, ln 16) $2.8M
0.05%
People & payroll
Highest Reported Total Compensation
Individual Jose Caballos · Reported title MEMBER · Highest reported compensation $0 · Total expenses $2.9M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.1M · Total expenses $2.9M
36%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 94%——
Overhead ratio 6%——
Revenue growth -11%——
Accounting fee ratio 2%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Joseph Smith
President
$0Pt VII · Sec A
See New Foundations INC executive salaries →

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Governance & Policies

Part VI
  • 3Voting board membersPt VI · Ln 1a
  • 3Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Unites families and children, fosters bonding, and removes barriers to reunification within the child welfare system.

Provided by the organization

This section is blank until New Foundations INC claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $2.8M of program spending, described in the organization's own filed words · FY2021.
01

Professional Foster Childcare

Provide specialized foster care and other social welfare services to families and children.

$2.8Mprogram expense

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Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $2.4M$2.6M-10% 990 PDF
FY2024 $2.7M$2.7M-8% 990 PDF
FY2023 $2.9M$2.8M-6% 990 PDF
FY2022 Viewing $3.1M$2.9M-11% 990 PDF
FY2021 $3.5M$3.0M+11% 990 PDF
FY2020 $3.1M$3.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Full filing: Form 990 for FY2022

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $2,944,286 across 15 lines filed
IX-7 Other salaries and wagesPrograms $724,009 · Management $161,869$885,878
IX-9 Other employee benefitsPrograms $98,942$98,942
IX-10 Payroll taxesPrograms $54,147 · Management $12,222$66,369
IX-11c Accounting feesPrograms $57,200$57,200
IX-11g Other fees for servicesPrograms $89,393$89,393
IX-12 Advertising and promotionPrograms $7,257$7,257
IX-13 Office expensesPrograms $65,561$65,561
IX-14 Information technologyPrograms $48,383$48,383
IX-16 OccupancyPrograms $71,918$71,918
IX-17 TravelPrograms $30,712$30,712
IX-20 InterestPrograms $20,934$20,934
IX-22 Depreciation, depletion and amortizationPrograms $47,957$47,957
IX-23 InsurancePrograms $74,400$74,400
IX-24 Other expenses (24a–d)Programs $1,367,502$1,367,502
IX-24e All other expensesPrograms $11,880$11,880
IX-25 Total functional expensesPrograms $2,770,195 · Management $174,091 · Fundraising $0$2,944,286

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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