Nonprofit · EIN 87-1842797
NEWCITY FOUNDATION
Tax-exempt · VIENNA, VA 22182
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $2,918,058 | $1,917,837 | $1,000,221 | $13,439,445 | $1,057,573 | $12,381,872 |
| December 31, 2023 | 990-PF | $0 | $339,621 | -$339,621 | $13,721,856 | $1,057,573 | $12,664,283 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,918,058
Expenses
- Grants and similar amounts paid
- $1,840,000
- Disbursements for charitable purposes
- $1,840,000
- Excise tax on investment income
- $4,292
Balance sheet and other
- Total assets, start of year
- $13,721,856
- Total assets, end of year
- $13,439,445
- Total liabilities, end of year
- $1,057,573
- Net assets, end of year
- $12,381,872
- Fair market value of assets
- $17,303,330
- Qualifying distributions
- $1,840,000
- Net investment income
- $386,656
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Peter Luke Gibson 8227 Old Courthouse Road Suite 330, Vienna, VA 22182 | Director & President | 16 | $0 |
| Steve Young 8227 Old Courthouse Road Suite 330, Vienna, VA 22182 | Director & Vice President | 8 | $0 |
| Paul Jin 8227 Old Courthouse Road Suite 330, Vienna, VA 22182 | Director & Secretary | 8 | $0 |
| Gina Jeon 8227 Old Courthouse Road Suite 330, Vienna, VA 22182 | Director & Treasurer | 8 | $0 |
990-PF for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Peter Luke Gibson 8227 Old Courthouse Road Suite 330, Vienna, VA 22182 | Director & President | 16 | $0 |
| Steve Young 8227 Old Courthouse Road Suite 330, Vienna, VA 22182 | Director & Vice President | 8 | $0 |
| Paul Jin 8227 Old Courthouse Road Suite 330, Vienna, VA 22182 | Director & Secretary | 8 | $0 |
| Gina Jeon 8227 Old Courthouse Road Suite 330, Vienna, VA 22182 | Director & Treasurer | 8 | $0 |
Address and contacts
- Address (IRS master file)
- 8227 OLD COURTHOUSE ROAD, VIENNA, VA 22182-3815
- In care of
- % PETER LUKE GIBSON
- Signed the 990-PF
- Peter L Gibson, President
- Phone
- (540) 931-6548
- Return prepared by
- RYAN W JONES CPA
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 87-1842797
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T20)
- Assets (IRS master file)
- $13,439,445
- Income (IRS master file)
- $2,918,058
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $2,918,058 | $1,917,837 | $13,439,445 | XML |
| 990-PF | December 2023 | $0 | $339,621 | $13,721,856 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 87-1842797).
Questions about NEWCITY FOUNDATION
- What is the EIN of NEWCITY FOUNDATION?
- The employer identification number (EIN) of NEWCITY FOUNDATION is 87-1842797.
- Is NEWCITY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to NEWCITY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does NEWCITY FOUNDATION file?
- Form 990-PF. Private foundations file every year.
- When is the next return of NEWCITY FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEWCITY FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of NEWCITY FOUNDATION?
- The 990-PF for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
- How much revenue does NEWCITY FOUNDATION have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $2,918,058, expenses of $1,917,837 and total assets of $13,439,445 at year end.
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- SCHWARZMANN FAMILY FOUNDATION EIN 26-1786576 · last filed 990-PF for 2025
- ORANGE CRIMSON FOUNDATION EIN 46-1233894 · last filed 990-PF for 2024
- PUBLIUS FUND EIN 99-0629750 · last filed 990 for 2024
- INNOVATIONS FOR GOSPEL IMPACT INC EIN 88-3526522 · last filed 990 for 2024
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All nonprofits in VIENNA · Virginia · Philanthropy, voluntarism and grantmaking foundations