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New Voices Foundation FY2021 filing

Tax-deductible

Brooklyn, NY501(c)(3)Since 2017Foundations & Grantmakers EIN 82-3672345Revenue $895K in FY2021

On file with the IRSnewvoicesfoundation.org34 35th St Ste 5a, 11232-2204 · Brooklyn, NYTax-exempt since Jul 2018Publicly supported charity — 170(b)(1)(A)(vi)

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To empower emerging women of color entrepreneurs with the support they need to be successful and help them realize their potential and transform their communities through commerce.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
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
4 of 6
filings with a surplus
Average surplus $3.0M a year · 73% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
20 mo
of spending, in cash
Plus $17.5M in investments, Pt X · Ln 11–13
Looks good: 20.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $13.1M
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$37K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$895K
-76% vs prior year
Spent
$1.6M
To programs
89%
Net assets
$20.1M
By yearFY2020–FY2025
Revenue
$895K
FY2021▼ -76%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.7M
FY2021$895K
FY2022$6.1M
FY2023$12.9M
FY2024$1.1M
FY2025$116K
Expenses
$1.6M
FY2021▲ +72%
Tap a bar for its year
Expenses by fiscal year
FY2020$910K
FY2021$1.6M
FY2022$1.3M
FY2023$1.4M
FY2024$1.1M
FY2025$476K
Net assets
$20.1M
FY2021▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$20.8M
FY2021$20.1M
FY2022$25.0M
FY2023$36.6M
FY2024$36.6M
FY2025$36.2M

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

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2018.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $1.4M Management & general 11% · $170K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Martha Dennis
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Mary Dennis
Director
$0Pt VII · Sec A
See New Voices Foundation executive salaries →

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Empowering women of color to launch and grow their businesses.

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Provided by the organization

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1 program · $1.4M · in their own filed words · FY2020
01

Community Funding Program

New voices foundation is delivering on its promise to help women of color business owners build, grow and scale their businesses and create a more inclusive entrepreneurial ECOSYSTEM.WE provide them with unprecedented access, capital, and expertise via pitch competitions; mobile accelerators; coaching and mentorship for pitch winners and…

$1.4Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Sofi Tucker FoundationFY2024$13.0M
American Medical AssociationFY2024$90K
Total grants receivedfrom 2 funders$13.1M
Grants paid · 94 grants · $1.7M · 2019–2024
Vontelle LLCFY2024$76,500
Awkward Games LLCFY2024$25,000
Cardioceph LLCFY2024$17,194
Behr Health Systems INCFY2024$7,000
4d Healthware LLCFY2024$7,000
Individual RecipientFY2023$75,000
Cprwrap INCFY2023$50,000
Individual RecipientFY2023$25,000
Naturally Drenched LLCFY2023$20,000
Minty Educational ServicesFY2023$15,000
Individual RecipientFY2023$12,500
Individual RecipientFY2023$10,000
Individual RecipientFY2023$10,000
4am CoFY2023$10,000
Culture CareFY2023$5,500
SugardohFY2022$100,000
Individual RecipientFY2022$67,000
KazmalejeFY2022$67,000
See all 94 grants →

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$895K
Ln 12
Gifts and grantsLn 1h$805K
Investment incomeLn 3$90K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.4M
Managementcol C$170K
Owns and owesPt X
$20.1M
net assets · Ln 32
Cash and savingsLn 1–2$2.7M
Total assetsLn 16$20.2M
LiabilitiesLn 26$37K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$805K
Investment incomeLn 3$90K
Total revenueLn 12$895K
Assets in detailPt X, end of year
CashLn 1$2.7M
Cash and savings togetherLn 1–2$2.7M
InvestmentsLn 11–13$17.5M
Total assetsLn 16$20.2M
LiabilitiesLn 26$37K
Net assetsLn 32$20.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderJune
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$4.3M$2.7M
InvestmentsLn 11–13$16.5M$17.5M
Total assetsLn 16$20.8M$20.2M
LiabilitiesLn 26$37K$37K
Net assetsLn 32$20.8M$20.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$666K$666K
Legal feesLn 11b$120K$120K
Accounting feesLn 11c$15K$15K
Investment management feesLn 11f$249K$249K
Other fees for servicesLn 11g$410K$403K$6K
Advertising and promotionLn 12$87K$79K$8K
Office expensesLn 13$11K$11K
InsuranceLn 23$8K$8K
Total functional expensesLn 25$1.6M$1.4M$170K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $116K$476K−$360K$36.2M 990 PDF
FY2024 $1.1M$1.1M$17K$36.6M 990 PDF
FY2023 $12.9M$1.4M$11.6M$36.6M 990 PDF
FY2022 $6.1M$1.3M$4.9M$25.0M 990 PDF
FY2021 Viewing $895K$1.6M−$672K$20.1M 990 PDF
FY2020 $3.7M$910K$2.8M$20.8M 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 $894,618 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,734,183$804,952
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $7,025$89,666
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $3,741,208$894,618
I-13 Grants and similar amounts paidPrior year $387,500$666,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $522,211$900,754
I-18 Total expensesPrior year $909,711$1,566,754
I-19 Revenue less expensesPrior year $2,831,497−$672,136
Part VI · Governance 4 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $894,618 across 4 lines filed
VIII-1f All other contributions, gifts and grants$804,952
VIII-1h Total contributions, gifts and grants$804,952
VIII-3 Investment incomeExcluded from tax $89,666$89,666
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $89,666$894,618
Part IX · Statement of functional expenses $1,566,754 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $666,000$666,000
IX-11b Legal feesManagement $120,449$120,449
IX-11c Accounting feesManagement $15,174$15,174
IX-11f Investment management feesPrograms $248,624$248,624
IX-11g Other fees for servicesPrograms $403,295 · Management $6,499$409,794
IX-12 Advertising and promotionPrograms $78,956 · Management $8,400$87,356
IX-13 Office expensesManagement $10,923$10,923
IX-23 InsuranceManagement $8,434$8,434
IX-25 Total functional expensesPrograms $1,396,875 · Management $169,879 · Fundraising $0$1,566,754
Part X · Balance sheet $20,164,120 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $4,336,865$2,657,973
X-13 Program-related investmentsStart of year $16,499,392$17,506,147
X-16 Total assetsStart of year $20,836,257$20,164,120
X-17 Accounts payable and accrued expensesStart of year $37,007$37,006
X-26 Total liabilitiesStart of year $37,007$37,006
X-27 Net assets without donor restrictionsStart of year $20,799,250$20,127,114
X-32 Total net assets or fund balancesStart of year $20,799,250$20,127,114
X-33 Total liabilities and net assetsStart of year $20,836,257$20,164,120
Part XI · Reconciliation of net assets $20,127,114 net assets at year end
XI-1 Total revenue$894,618
XI-2 Total expenses$1,566,754
XI-3 Revenue less expenses−$672,136
XI-4 Net assets at start of year$20,799,250
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$20,127,114

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

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