New Beginnings Foundation in Charlotte, North Carolina (NC)

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New Beginnings Foundation
Employer Identification Number (EIN)562219656
Name of OrganizationNew Beginnings Foundation
Address5145 Swearingan Rd, Charlotte, NC 28216-2929
SubsectionCharitable Organization
Ruling Date04/2001
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$1 to $9,999
Income$1 to $9,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$910
Amount of Income$5,370
Form 990 Revenue Amount$-4,426
National Taxonomy of Exempt Entities (NTEE)Human Services - Multipurpose and Other: Homeless Persons Centers, Services

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Amount of income in 2013: $5,370 (it was $2,254 in 2012)
New Beginnings Foundation: 

Other organizations performing similar types of work: 


Assets in 2013: $910 (it was $5,336 in 2012)
This organization: 

Other organizations performing similar types of work: 


Expenses in 2013: $12,500
New Beginnings Foundation: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2013: 0.4
This organization: 

Other organizations performing similar types of work: 


Grants share in income in 2013: 97.8%
This organization: 

Other organizations performing similar types of work: 


Financial snapshot ($)

Revenue for 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$5,491$0$689
Contributions, gifts, grants, etc., received$5,370
Interest on savings and temporary cash investments$0
Dividends and interest from securities$0
Gross rents$0
Gross sales price for all assets$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$12,500$0$0$0
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$0
Travel, conferences, and meetings$722
Printing and publications$0
Total operating and administrative expenses$12,500$0$0
Contributions, gifts, grants paid$0
Excess of revenue over expenses and disbursements$-7,009
Net investment income$0
Adjusted net income$689
Balance Sheets
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$6,990$6,990$5,336$5,336$910$910
Cash - non-interest-bearing$0$221$910
Investments-U.S. and state government obligations$0$0$0
Investments-corporate stock$0$0$0
Investments-corporate bonds$0$0$0
Investments-mortgage loans$0$0$0
Other assets$0$0
Total liabilities$15,394$76,506$7,989
Mortgages and other notes payable$0$0$0
Other liabilities$0$0
Total liabilities and net assets/fund balances$-8,404$-71,170$-7,079
Capital Gains and Losses for Tax on Investment Income
Capital gain net income$0$0$121
Net capital loss$-9,426$0$0
Excise Tax Based on Investment Income
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$0$0$0
Total credits and payments$0$0$0
Any penalty for underpayment of estimated tax$0$0$0
Tax due$0$0
Amount to be credited to next year's estimated tax$0$0$0
Statements Regarding Activities
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign?NoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?NoNo
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNoNo
Did any persons become substantial contributors during the tax year?YesNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesNo
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoYesNo
Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$0$18$0
Net value of noncharitable-use assets$18$0
Minimum investment return$0$1$0
Distributable Amount
Distributable amount$0$1$0
Undistributed Income
Distributable amount for this year$0$1$0
Undistributed income for this year. This amount must be distributed in the next year$0$1$0
Private Operating Foundations (for 2010 - 2013)
The lesser of the adjusted net income or the minimum investment return$0$0$0$0$0
Qualifying distributions made directly for active conduct of exempt activities$0$0$0$0$0
Value of all assets$0$0$0$0$0
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$0$0$0$0$0
Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties)$0$0$0$0$0
Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)$0$0$0$0$0
Gross investment income$0$0$0$0$0
Supplementary Information (for 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$0$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Pine Street Inn Inc434 Harrison Ave, Boston, MA 02118-2404MA1974-05$53,235,586
2St Vincent De Paul Social Services Inc1133 S Edwin C Moses Blvd Ste 300, Dayton, OH 45417-4077OH2010-02$4,390,096
3Bread Of Life Mission97 S Main St, Seattle, WA 98104-2513WA2005-02$2,042,832
4Zezzo House Corporation184-186 Homestead Avenue No 1a, Hartford, CT 06112CT1993-12$359,546
5Family Promise Of Baldwin Countyinc20511 County Road 36, Summerdale, AL 36580-3129AL2007-02$346,707
6Carolina Homeless Veterans IncPO BOX 31506, Charleston, SC 29417-1506SC2003-05$272,664
7Mid Florida Homeless Coalition IncPO BOX 3031, Inverness, FL 34451-3031FL2001-07$164,954
8Mad Ministries7100 S Boulder Rd, Boulder, CO 80303-4331CO2005-05$70,817
9Hope MinistriesPO BOX 862, Des Moines, IA 50304-0862IA2001-04$11,360,511
10Pathways To Housing Dc101 Q Street Ne, Washington, DC 20002-2166DC2004-04$9,358,229
11Strategies To End Homelessness Inc2368 Victory Pkwy Ste 600, Cincinnati, OH 45206-2850OH2007-11$7,316,425
12Back On My Feet100 S Broad St Ste 1400, Philadelphia, PA 19110-1005PA2008-08$5,560,072
13Solutions For Change Inc722 W California Ave, Vista, CA 92083-3565CA2000-06$3,982,748
14Alternatives Living Inc4219 Magnolia St, New Orleans, LA 70115-6207LA1997-07$2,833,244
15H E L P Development Corp5 Hanover Sq Fl 17, New York, NY 10004-2682NY1996-07$2,817,816
16Homeless Assistance Leadership Organization Incorporated, Halo2000 De Koven Ave Unit 1 Unit 1, Racine, WI 53403-2481WI2005-02$2,211,165
17Lodestar Day Resource Center1125 W Jackson St, Phoenix, AZ 85007-3110AZ2007-08$2,120,776
18Rockingham County Help For Homeless IncPO BOX 406, Madison, NC 27025-0406NC2000-08$389,993
19Lois LodgePO BOX 35188, Charlotte, NC 28235-5188NC1999-02$383,864
20New Beginnings Foundation5145 Swearingan Rd, Charlotte, NC 28216-2929NC2001-04$5,370
Number of organizations performing similar types of work
District of Columbia14
North Carolina43
North Dakota2
New Hampshire7
New Jersey23
New Mexico6
New York48
Rhode Island5
South Carolina23
West Virginia4
Total1,103 is not associated with, endorsed by, or sponsored by New Beginnings Foundation and has no official or unofficial affiliation with New Beginnings Foundation