New Voices Foundation

Nonprofit profile at a glance

EIN
823672345
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Brooklyn, NY, USA
Phone
2122483140
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Management & Technical Assistance

Reported finances

Revenue
$116,211
Expenses
$476,417
Assets
$36,251,599
Liabilities
$37,006

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

Leadership & pay

4 people listed

Executive titles in this filing

  • RICHELIU W DENNIS JR (PRESIDENT)

People named in this filing

  • RICHELIU W DENNIS JR (PRESIDENT)
  • MARTHA DENNIS (SECRETARY)
  • RICHELYNA HALL (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2024

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 others in the new voices community; online learning and skills development opportunities; and ongoing communications outreach via social media, newsletters and other channels.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 83
  • Accountability: 88
  • Sustainability: 44
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.1%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 76.4%; rating input score 76; 47th 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -310%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 76.09; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 11.6% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: -16.1% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 15.5% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.1% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $463K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Highest-paid contractors: 1 contractor listed · $185K reported
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.