New Life Foundation
Nonprofit profile at a glance
- EIN
- 364710533
- IRS 990-EZ coverage
- 2021–2025
- Forms available
- Form 990-EZ 2025
- Location
- Derwood, MD, USA
- Phone
- 2402778728
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Music
- Affiliation
- Christianity
Reported finances
- Revenue
- $39,894
- Expenses
- $46,708
- Assets
- $43,557
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- Michelle Cho (President)
- Steve Tae (Executive Director)
People named in this filing
- Michelle Cho (President)
- Hyewon Yoon (Director)
- Jenny Wang (Treasurer)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
New Life Foundation is organized, and shall be operated exclusively, for charitable and educational purposes (as such terms are defined in section 501(c)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code (the "Code")), including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the Code. The purposes for which the corporation is formed are as follows: (i) providing music instruction to underprivileged children with musical talent; (ii) providing young, classically trained musicians with opportunities to express their talents by performing Christian orchestral music; and (iii) enabling students to share their love of music by performing in orphanages and other public venues both in their local communities and abroad.
What it reported doing in 2025
Sponsor tuition support and meal support for underprivileged kids
Operating model
- Revenue model
- Donor-supported. 90% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and program spending has grown recently. A relatively small share of total spending goes to programs and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 59
- Transparency & Controls: 82
- Sustainability: 39
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 61.8%; rating input score 62
- Program expense ratio: 52.8%; rating input score 53
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -17.1%; rating input score 23; 23rd percentile among comparable filings
- Total-asset coverage ratio: 0.93; rating input score 46; 46th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 7.2% per year; rating input score 100; 66th percentile among comparable filings
- Revenue growth: 8.5% per year; rating input score 100; 78th percentile among comparable filings
- Asset growth: -13.9% per year; rating input score 0; 14th percentile among comparable filings
Details
- Where the money goes: 61.8% of revenue deployed · 52.8% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 3 filed program accomplishments · $25K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 2 filed schedules
- Filing history: 5 filing years from 2021 to 2025
- Contacts: How to reach this organization
- 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.
- Review — Financial Efficiency: Program expense ratio scored 53/100.
- High — Sustainability: Operating margin scored 23/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.