New Harbor Charitable Foundation
New Harbor Charitable Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CHICAGO, IL. IRS filing data is available from 2022 through 2024. As of 2024, the organization holds $247K in total assets. In 2024, it awarded 18 grants totaling $31K. Net investment income was $9K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$247K
-8.8% YoY
Annual Giving
$31K
-0.4% YoY
Grant Count
18
+20.0% YoY
Avg Grant Size
$2K
-17.0% YoY
Under IRS private-foundation payout rules, New Harbor Charitable Foundation reported a distributable amount of $12K for 2024 — the minimum it must pay out in qualifying distributions.
About New Harbor Charitable Foundation
Based on IRS filings
New Harbor Charitable Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CHICAGO, IL. IRS filing data is available from 2022 through 2024. As of 2024, the organization holds $247K in total assets. In 2024, it awarded 18 grants totaling $31K. Net investment income was $9K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $246,936 | $270,748 | $300,000 |
| Revenue | $12,588 | $4,947 | $300,000 |
| Expenses | $34,495 | $36,104 | — |
| Qualifying Distributions | $31,365 | $31,500 | — |
| Net Investment Income | $9,459 | $343 | — |
| Distributable Amount | $12,480 | $14,114 | $5,323 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
33 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include The Bottom Line Inc ($2,900), One Tail at a Time ($2,500), Breakthrough ($2,500).
| Recipient | Purpose | Amount |
|---|---|---|
| One Tail at a Time Chicago, IL | Unrestricted | $2,500 |
| The Bottom Line Inc Chicago, IL | Unrestricted | $2,900 |
| Breakthrough Chicago, IL | Unrestricted | $2,500 |
| Kids First Chicago Chicago, IL | Unrestricted | $2,500 |
| Compudopt Downers Grove, IL | Unrestricted | $2,500 |
| Year Up United Chicago, IL | Unrestricted | $2,500 |
| Erie Family Health Center Chicago, IL | Unrestricted | $2,500 |
| Sunshine Gospel Ministries Chicago, IL | Unrestricted | $2,500 |
| Memorial Sloan Kettering Cancer Center New York, NY | Unrestricted | $1,000 |
| West Deerfield Township Food Pantry Deerfield, IL | Unrestricted | $1,500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Hayley Formolo | President | — | — |
| Edward Lhee | Treasurer | — | — |
| Thomas Formolo | Secretary | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is New Harbor Charitable Foundation?
New Harbor Charitable Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in CHICAGO, IL. It holds $247K in total assets as of 2024.
How large is New Harbor Charitable Foundation?
As of 2024, New Harbor Charitable Foundation holds $247K in total assets with $13K in annual revenue. It awarded 18 grants totaling $31K in 2024.
Where does New Harbor Charitable Foundation operate?
New Harbor Charitable Foundation has awarded grants in Colorado, District of Columbia, Illinois, New York, Ohio, Texas, Utah.
What size grants does New Harbor Charitable Foundation award?
In 2024, New Harbor Charitable Foundation awarded 18 grants totaling $31K — an average of about $2K per grant, based on its IRS Form 990 filings.
How much is New Harbor Charitable Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, New Harbor Charitable Foundation reported a distributable amount of $12K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is New Harbor Charitable Foundation's EIN?
New Harbor Charitable Foundation's EIN (Employer Identification Number) is 88-1822631. IRS Form 990 filing data is available on this page for 2022–2024.
Explore Open Grants
Browse active grant opportunities in New Harbor Charitable Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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