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New Foundations Development INC FY2021 filing

Tax-deductible

Calhoun, GA501(c)(3)Since 2012Housing EIN 46-2225077Revenue $152K in FY2021

On file with the IRSnfdinc.org607 Oothcalooga St, 30701-2391 · Calhoun, GATax-exempt since Jul 2014Publicly supported charity — 170(b)(1)(A)(vi)

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To advance affordable housing opportunities within Gordon and Bartow Counties in the State of Georgia

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$33K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
FY2026
latest Form 990
Looks good: the latest return is for FY2026, this tax year; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $33K a year · 10% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$33K
to officers and key staff · 20% of spending
Fine: pay to officers and key staff is 20% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $45K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$25K
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 10 voting members
Concern: none of 10 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$152K
Spent
$161K
To programs
100%
Net assets
$73K
By yearFY2021–FY2026
Revenue
$152K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$152K
FY2022$218K
FY2023$174K
FY2024$670K
FY2025$317K
FY2026$319K
Expenses
$161K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$161K
FY2022$214K
FY2023Not on file
FY2024$590K
FY2025$279K
FY2026$269K
Net assets
$73K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$73K
FY2022$77K
FY2023$93K
FY2024$173K
FY2025$211K
FY2026$261K

From the FY2021 Form 990 (year ending March 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2026) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2026. IRS ruling in Jul 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $161K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990; $33K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Carol Hatch
Program Coordinator
$32,789Pt VII · Sec A
Clinton Marshall
Vicechairman Cha
$0Pt VII · Sec A
Billie Jean Erwin
Commissioner Cha
$0Pt VII · Sec A
Rhonda Massingill
Commissioner Cha
$0Pt VII · Sec A
Clifford Free
Chairman Cha
$0Pt VII · Sec A
Grant Walraven
Director Nfd
$0Pt VII · Sec A
Mary Ruth Garigan
Director Nfd
$0Pt VII · Sec A
Cleo Strickland
Director Nfd
$0Pt VII · Sec A

Carol Hatch’s $33K as Program Coordinator is at the 24th percentile of top reported officer pay among 852 $100K–1M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds and supports affordable housing in Gordon and Bartow Counties, Georgia.

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Provided by the organization

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1 program · $161K · in their own filed words · FY2020
01

Rehabilitation for low income home owners.

$161Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Housing Assistance CouncilFY2024$45K
Total grants receivedfrom 1 funder$45K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$152K
Ln 12
Gifts and grantsLn 1h$152K
Money outPt IX
$161K
Ln 25
Programscol B$161K
Owns and owesPt X
$73K
net assets · Ln 32
Cash and savingsLn 1–2$31K
Total assetsLn 16$98K
LiabilitiesLn 26$25K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$152K
Government grantsLn 1e$126K
Total revenueLn 12$152K
Assets in detailPt X, end of year
CashLn 1$31K
Cash and savings togetherLn 1–2$31K
Land, buildings, equipmentLn 10c$67K
Total assetsLn 16$98K
LiabilitiesLn 26$25K
Net assetsLn 32$73K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$23K$31K
Land, buildings, equipmentLn 10c$67K$67K
Total assetsLn 16$91K$98K
LiabilitiesLn 26$9K$25K
Net assetsLn 32$82K$73K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$111K$111K
Other salaries and wagesLn 7$33K$33K
Other employee benefitsLn 9$2K$2K
Payroll taxesLn 10$3K$3K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$1K$1K
Office expensesLn 13$5K$5K
OccupancyLn 16$3K$3K
InsuranceLn 23$814$814
Total functional expensesLn 25$161K$161K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2026 Latest $319K$269K$50K$261K 990 PDF
FY2025 $317K$279K$38K$211K 990 PDF
FY2024 $670K$590K$80K$173K 990 PDF
FY2023 $174K$93K 990 PDF
FY2022 $218K$214K$4K$77K 990 PDF
FY2021 Viewing $152K$161K−$9K$73K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $152,217 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $213,435$152,217
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $213,435$152,217
I-13 Grants and similar amounts paidPrior year $161,000$110,905
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $36,795$38,019
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $9,600$11,932
I-18 Total expensesPrior year $207,395$160,856
I-19 Revenue less expensesPrior year $6,040−$8,639
Part VI · Governance 0 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members0
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $152,217 across 5 lines filed
VIII-1e Government grants$126,217
VIII-1f All other contributions, gifts and grants$26,000
VIII-1h Total contributions, gifts and grants$152,217
VIII-8 Net income from fundraising events$0
VIII-12 Total revenue$152,217
Part IX · Statement of functional expenses $160,856 across 9 lines filed
IX-2 Grants to domestic individualsPrograms $110,905$110,905
IX-7 Other salaries and wagesPrograms $33,134$33,134
IX-9 Other employee benefitsPrograms $2,350$2,350
IX-10 Payroll taxesPrograms $2,535$2,535
IX-11b Legal feesPrograms $2,277$2,277
IX-11c Accounting feesPrograms $1,300$1,300
IX-13 Office expensesPrograms $5,029$5,029
IX-16 OccupancyPrograms $2,512$2,512
IX-23 InsurancePrograms $814$814
IX-25 Total functional expensesPrograms $160,856 · Management $0 · Fundraising $0$160,856
Part X · Balance sheet $98,356 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $23,463$31,241
X-10c Land, buildings and equipment, netStart of year $67,115$67,115
X-16 Total assetsStart of year $90,578$98,356
X-17 Accounts payable and accrued expensesStart of year $8,889$25,306
X-26 Total liabilitiesStart of year $8,889$25,306
X-27 Net assets without donor restrictionsStart of year $81,689$73,050
X-32 Total net assets or fund balancesStart of year $81,689$73,050
X-33 Total liabilities and net assetsStart of year $90,578$98,356
Part XI · Reconciliation of net assets $73,050 net assets at year end
XI-1 Total revenue$152,217
XI-2 Total expenses$160,856
XI-3 Revenue less expenses−$8,639
XI-4 Net assets at start of year$81,689
XI-10 Net assets at end of year$73,050

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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