MODEST NEEDS FOUNDATION

EIN: 470863430 501(c)(3) Human Services

New York, NY

Total Revenue
$1,595,548
Total Expenses
$1,865,407
Total Assets
$1,107,508
Net Assets
$1,107,508
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
DE
Principal Officer
Keith P Taylor
Phone
8446673776
Tax Period
2022-01-01 to 2022-12-31

MODEST NEEDS FOUNDATION, founded in 2002, is a community nonprofit in the Human Services sector that reported $1.6M in total revenue in fiscal year 2022. Revenue fell 41% from the prior year — a significant decline worth monitoring. Expenses of $1.9M exceeded revenue, resulting in a 17% operating deficit.

Mission

Modest Needs Foundation helps low-income workers to afford short-term emergency expenses that would otherwise threaten their ability to support themselves. In this way, Modest Needs bolsters the self-sufficiency of the "working poor" while simultaneously lessening the burden of state and federal agencies charged with the care of the truly indigent.

Program Service Accomplishments

Program 1
Expenses: $1,703,593 Revenue: $1,595,548

IN 2022, MODEST NEEDS PROVIDED 1,618 GRANTS REACHING 5,286 INDIVIDUALS AND FAMILIES WHO HAD APPLIED FOR ASSISTANCE UNDER OUR SELF-SUFFICIENCY, HOMECOMING HEROES, AND COVID-19 RELIEF GRANT PROGRAMS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,595,548
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $1,595,548

Expense Breakdown

Grants Paid $984,558
Salaries & Benefits $605,300
Fundraising Expenses $57,719
Program Expenses $1,703,593
Other Expenses $275,549
TOTAL EXPENSES $1,865,407

Year-over-Year Comparison

2022 2021 Change
Revenue $1,595,548 $2,687,896 -0.4%
Expenses $1,865,407 $2,641,892 -0.3%
Net Income $-269,859 $46,004 -6.9%
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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
Employees
6
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
1
$198,544
Total Directors
3
$0
Key Employees
1
$198,544
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR KEITH P TAYLOR PRESIDENT 60
Officer Key Emp Highest
$108,041 $90,503 $198,544
THIERRY MELLON TREASURER 2
Director
$0 $0 $0
REBEKAH HOFFMAN VICE-CHAIR / SECRETARY 2
Director
$0 $0 $0
CHARLES CISSEL CHAIR 2
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 $1,595,548 $1,865,407 $1,107,508 $-269,859
2021 $2,687,896 $2,641,892 $1,377,367 $46,004
2020 $3,205,729 $2,098,574 $1,331,363 $1,107,155
2019 $1,319,628 $1,208,661 $234,269 $110,967
2018 $998,737 $996,410 $83,566 $2,327
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