New Springs Development Corporation
New Springs Development Corporation is a private foundation focused on Housing & Shelter, based in Tampa, FL. IRS filing data is available from 2023 through 2024. As of 2024, the organization holds $229K in total assets. In 2024, it made $110K in qualifying distributions.
New Springs Development Corporation at a glance
- Total assets
- $228,658
- -15.3% vs 2023
- Revenue (2024)
- $79,745
- -72.3% vs 2023
- Qualifying distributions (2024)
- $110,077
- +103.9% vs 2023
- Expenses (2024)
- $117,172
- +97.9% vs 2023
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who New Springs Development Corporation funds
How this funder distributes its grants
Grant Size Distribution
1 grant across all recorded years
The most common grant size was under $50K: 1 grant of 1 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
How New Springs Development Corporation gives
- In 2024 it paid out 883% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
In 2023 it made 1 grant totaling $3K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Navigators Albert Lea, MN | For Religious Purposes | $2,500 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $228,658 | $79,745 | $117,172 | — | — | $110,077 | — | $12,465 |
| 2023 | $269,894 | $287,463 | $59,217 | $2,500 | 1 | $53,988 | $258,979 | $1,677 |
Under IRS private-foundation payout rules, New Springs Development Corporation reported a distributable amount of $12K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
New Springs Development Corporation is led by Kevin Miller Director, Executive Director on the 2024 filing; 1 of 7 officers listed in 2024 is compensated.
Officers on the 2024 filing
Kevin Miller Director
Executive Director
New on the 2024 filing
15 hrs/week
$39K (2024)
Russell Johnson President
President
New on the 2024 filing
5 hrs/week
No compensation reported
Douglas Free Officer
Officer
New on the 2024 filing
4 hrs/week
No compensation reported
James Rickles Treasurer
Treasurer
New on the 2024 filing
2 hrs/week
No compensation reported
Karen Fate Officer
Officer
New on the 2024 filing
2 hrs/week
No compensation reported
Mike Troke Officer
Officer
New on the 2024 filing
2 hrs/week
No compensation reported
Scott Young Officer
Officer
New on the 2024 filing
2 hrs/week
No compensation reported
Former officers (3)
- Former: Douglas J. Free (2023) — President
- Former: Russell Johnson (2023) — Secretary
- Former: Vincent J. Fechtel III (2023) — Treasurer
Data from IRS Form 990 filings, 2023–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $39K, to Kevin Miller Director (Executive Director).
Frequently asked questions about New Springs Development Corporation
How large is New Springs Development Corporation?
New Springs Development Corporation reported $229K in total assets on its 2024 IRS Form 990-PF. It paid out $110K in qualifying distributions that year, against a required minimum of $12K (roughly 5% of its investment assets).
What is New Springs Development Corporation?
New Springs Development Corporation is a private foundation focused on Housing & Shelter, based in Tampa, FL. It holds $229K in total assets as of 2024.
Where does New Springs Development Corporation operate?
New Springs Development Corporation has awarded grants in Minnesota.
What is New Springs Development Corporation's EIN?
New Springs Development Corporation's EIN (Employer Identification Number) is 81-3798337. IRS Form 990 filing data is available on this page for 2023–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2023–2024
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