Overview
What is New Foundations Inc?
New Foundations Inc, based in Philadelphia, Pennsylvania, is a dedicated nonprofit organization aimed at providing specialized foster care and social welfare services. Their mission is to unite families and children, representing their interests and fostering bonding relationships. They work tirelessly to identify and eradicate any barriers that may keep children and families separated, collaborating closely with county agencies to expedite their involvement in the child welfare system. With a team of 28 dedicated individuals, New Foundations Inc plays a vital role in promoting family unity and ensuring the well-being of children in need.
Official website here: www.nfi4kids.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%
New Foundations Inc has achieved a commendable Four-Star out of Four Star rating from Charity Navigator, reflecting a strong emphasis on accountability and finance. The organization scores exceptionally well in this area, with a total accountability and finance score of 92%. This high rating signifies that the nonprofit is well-managed and transparent in its financial practices, ensuring donor funds are utilized effectively.
The nonprofit showcases several strengths, including a fully independent board of directors, which reflects good governance practices. Additionally, they have established robust financial oversight mechanisms, demonstrated by their audit and oversight committee. Their program expense ratio is notably high at 93.06%, indicating a substantial portion of resources is directed towards their programs rather than administrative costs.
However, there is a limitation regarding their conflict of interest policy, which is noted as missing. This aspect may raise some concerns about governance practices. Despite this, the overall financial health and operational transparency of New Foundations Inc contribute positively to its reputation as a reliable nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is New Foundations Inc legitimate?
New Foundations Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Foundations Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $840,133
For more financial information, click here
Official website here: www.nfi4kids.org
What is the mission statement of New Foundations Inc?
New Foundations Inc's mission is centered around serving both families and children. Their primary goal is to facilitate unity between these two groups and act as their representative in the process. They strive to foster strong family bonds and eradicate any barriers that may separate children and their families. Furthermore, they collaborate with county agencies to reduce the length of time children and families spend within the child welfare system.
Official website here: www.nfi4kids.org
Who is the CEO of New Foundations Inc?
Joseph Smith is the Member of New Foundations Inc.
Official website here: www.nfi4kids.org
What is the revenue of New Foundations Inc?
New Foundations Inc's revenue in 2023 was $2,929,800.
Official website here: www.nfi4kids.org
Who are the executives of New Foundations Inc and what are their salaries?
The average compensation at New Foundations Inc during 2023 was $30,005. There are 28 employees at New Foundations Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.nfi4kids.org
Where can I find the form 990 for New Foundations Inc?
New Foundations Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.nfi4kids.org
Learn more at the official website: www.nfi4kids.org
Mission Statement of New Foundations Inc
New Foundations Inc is committed to serving both families and children, aiming to facilitate unity and representation for them in various processes. The organization's primary goal is to foster strong bonding relationships between children and their families. To achieve this, New Foundations Inc identifies and eliminates any barriers that may be keeping children and families apart. The nonprofit works collaboratively with county agencies to expedite the time children and families spend within the child welfare system. By doing so, New Foundations Inc strives to create a supportive environment that encourages family unity and strengthens familial relationships.
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Impact
October, 2024
New Foundations Inc plays a crucial role in enhancing the lives of families and children in Philadelphia through its dedicated efforts in promoting unity and strengthening familial bonds. By providing specialized foster care and social welfare services, the organization actively works to create supportive environments for children and their families.
Their impact includes identifying and eliminating barriers that hinder the connection between children and families, ensuring that relationships can flourish rather than fracture. In collaboration with county agencies, New Foundations Inc aims to streamline the child welfare process, reducing the time families remain entangled in this system. This approach not only fosters a sense of stability for children but also empowers families to reunite and thrive together, ultimately enhancing community well-being. The work of New Foundations Inc embodies a profound commitment to the welfare of children and families, making a lasting difference in the lives they serve.
This information is meant to be a general summary of New Foundations Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $67
- Program Service Revenue: $2,910,575
- Gross Receipts: $2,952,642
Assets and Liabilities:
- Total Assets: $2,906,089
- Total Liabilities: $675,860
- Net Assets: $2,230,229
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FOSTER CARE SERVICES
Revenue
$2,385,475
ADOPTION
Revenue
$525,100
Organization Details
Founding Year
1992
Phone
(215) 203-8733Principal Officer
Joseph Smith
Main Address
7210 RISING SUN AVE SUITE RM/STE A, PHILADELPHIA, PA, 19111
Website
www.nfi4kids.orgNTEE Category
Code: P320 - Human services
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