FRIENDS OF THE NEW CITIES FOUNDATION

EIN: 320365219 501(c)(3)

WILMINGTON, DE

Total Revenue
$80,000
Total Expenses
$178,221
Total Assets
$13,653
Net Assets
$9,653
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
DE
Principal Officer
JOHN ROSSANT
Phone
7188968900
Tax Period
2021-07-01 to 2022-06-30

FRIENDS OF THE NEW CITIES FOUNDATION, founded in 2011, is a micro nonprofit that reported $80K in total revenue in fiscal year 2021. Revenue fell 43% from the prior year — a significant decline worth monitoring. Expenses of $178K exceeded revenue, resulting in a 123% operating deficit.

Mission

OUR MISSION IS TO SHAPE A BETTER URBAN FUTURE FOR ALL BY GENERATING AND SCALING IDEAS AND SOLUTIONS THROUGH EVENTS, RESEARCH AND URBAN INNOVATION PROJECTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $80,000
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $80,000

Expense Breakdown

Grants Paid $172,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $172,000
Other Expenses $6,221
TOTAL EXPENSES $178,221

Year-over-Year Comparison

2021 2020 Change
Revenue $80,000 $139,348 -0.4%
Expenses $178,221 $29,237 +5.1%
Net Income $-98,221 $110,111 -1.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN ROSSANT PRESIDENT 5.00
Officer Director
$0 $0 $0
MAXWELL ANDERSON VICE PRESIDENT 5.00
Officer Director
$0 $0 $0
ELIE VANNIER SECRETARY 5.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2022 $80,000 $178,221 $13,653 $-98,221
2021 $139,348 $29,237 $111,874 $110,111
2020 $40,000 $44,709 $1,925 $-4,709
2019 $152,332 $159,902 $6,471 $-7,570
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