NewCity Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in VIENNA, VA. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $13.4M in total assets. In 2024, it awarded 3 grants totaling $1.8M. Net investment income was $309K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$13.4M
-2.1% YoY
Annual Giving
$1.8M
+1061.1% YoY
Grant Count
3
+50.0% YoY
Avg Grant Size
$613K
+674.0% YoY
Under IRS private-foundation payout rules, NewCity Foundation reported a distributable amount of $773K for 2024 — the minimum it must pay out in qualifying distributions.
About NewCity Foundation
Based on IRS filings
NewCity Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in VIENNA, VA. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $13.4M in total assets. In 2024, it awarded 3 grants totaling $1.8M. Net investment income was $309K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $13,439,445 | $13,721,856 | $16,751,136 |
| Revenue | $2,918,058 | — | $3,999,604 |
| Expenses | $1,917,837 | $339,621 | $4,264,975 |
| Qualifying Distributions | $1,840,000 | — | $4,057,573 |
| Net Investment Income | $308,751 | $268,470 | $140,472 |
| Distributable Amount | $773,477 | — | $794,228 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2024
Grant Size Distribution
6 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Reformed Theological Seminary ($1,100,000), Tyler Dental Clinic ($540,000), NewCity Church ($200,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Tyler Dental Clinic Vienna, VA | For building costs | $540,000 |
| NewCity Church Vienna, VA | Operating Costs | $200,000 |
| Reformed Theological Seminary Charlotte, NC | Tuition | $1,100,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Peter Luke Gibson | Director & President | 16 | — |
| Steve Young | Director & Vice President | 8 | — |
| Paul Jin | Director & Secretary | 8 | — |
| Gina Jeon | Director & Treasurer | 8 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is NewCity Foundation?
NewCity Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in VIENNA, VA. It holds $13.4M in total assets as of 2024.
How large is NewCity Foundation?
As of 2024, NewCity Foundation holds $13.4M in total assets with $2.9M in annual revenue. It awarded 3 grants totaling $1.8M in 2024.
Where does NewCity Foundation operate?
NewCity Foundation has awarded grants in North Carolina, Virginia.
What size grants does NewCity Foundation award?
In 2024, NewCity Foundation awarded 3 grants totaling $1.8M — an average of about $613K per grant, based on its IRS Form 990 filings.
How much is NewCity Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, NewCity Foundation reported a distributable amount of $773K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is NewCity Foundation's EIN?
NewCity Foundation's EIN (Employer Identification Number) is 87-1842797. IRS Form 990 filing data is available on this page for 2021–2024.
Explore Open Grants
Browse active grant opportunities in NewCity 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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