New Futures

Nonprofit profile at a glance

EIN
522180378
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2023845854
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$3,638,628
Expenses
$2,359,816
Assets
$3,940,715
Liabilities
$1,264,829

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Highest reported compensation

  • SHERROD WILLIAMS (CHEIF EXECUTIVE OFFICER): $213,423 total reported compensation
  • SHIREE SKINNER (DIRECTOR OF DEV. & COMMUNICATIONS): $124,187 total reported compensation
  • GRISELDA MACIAS (DIRECTOR OF PROGRAMS): $118,543 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Mission: to create educational opportunities for rewarding careers. The organization provides a practical yet innovative program of scholarships, career education services, and support to low-income dc-area young people pursuing shorter-term post-secondary educational opportunities toward fulfilling careers.

What it reported doing in 2024

New futures provides an innovatiive program of scholarships, advising, and career education programs to support low-income dc-area young people pursuing shorter-term post-secondary educational programs, leading for some to further education, and for all to financially sustainable in-demand careers.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 71% for direct work, and 29% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 44
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 38.8%; rating input score 39
  • Program expense ratio: 56.8%; rating input score 57
  • Fundraising efficiency: $6.98 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 35.1%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 1.67; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 29.3%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 12.2% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 13.1% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 38.8% of revenue deployed · 56.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $213K · 16 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 39/100.
  • Review — Financial Efficiency: Program expense ratio scored 57/100.
  • High — Financial Efficiency: Fundraising efficiency scored 26/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.