Newwave Foundation
Newwave Foundation is a private foundation, based in Windsor Mill, MD. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $161K in total assets. In 2024, it awarded 7 grants totaling $32K. Net investment income was $913.
Newwave Foundation at a glance
In short: Newwave Foundation gave $32K across 7 grants in 2024 (avg $5K), top state Maryland. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $31,998
- -42.9% vs 2023
- Grants made (2024)
- 7
- +40.0% vs 2023
- Average grant
- $4,571
- -59.2% vs 2023
- Median grant
- $2,500
- Total assets
- $161,251
- -16.8% vs 2023
- Primary geography
- Maryland (45% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
Who Newwave Foundation funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2024
The largest 2024 recipient was Collegebound Foundation ($11K). Together the top 5 received $24K.
Organizations only. It also paid 2 grants to individuals ($7,500), which are not listed by name.
Grant Size Distribution
47 grants across all recorded years
The most common grant size was under $50K: 47 grants of 47 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 7 itemized grants.
States
Cities
How Newwave Foundation gives
- Giving fell 52% from 2021 to 2024. Method
- In 2024 it paid out well above 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
From 2020 to 2024, annual grant giving ranged from $32K (2024) to $66K (2021). In 2024 it made 7 grants totaling $32K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Collegebound Foundation Baltimore, MD | NWF Scholarships | $11,148 |
| Collegebound DC Washington, DC | NWF Scholarships | $10,000 |
| 2 grants to individuals Recipients not named | — | $7,500 |
| Think PGC Inc Waldorf, MD | Sponsorship | $1,500 |
| Howard Community College Educational Foundation Columbia, MD | NWF Scholarships | $1,250 |
| Wheel of Hope Initiative Beltsville, MD | Sponsorship | $600 |
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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 | $161,251 | $913 | $146,757 | $31,998 | 7 | $146,757 | $913 | $8,706 |
| 2023 | $193,922 | $9,524 | $110,209 | $56,000 | 5 | $104,834 | $2,260 | $11,968 |
| 2022 | $294,607 | $42,252 | $90,767 | $41,900 | 5 | $69,393 | $405 | $15,308 |
| 2021 | $345,147 | $294,581 | $116,557 | $66,325 | 15 | $114,532 | — | $14,751 |
| 2020 | $165,098 | $176,329 | $48,092 | $42,952 | 15 | — | — | $6,450 |
Under IRS private-foundation payout rules, Newwave Foundation reported a distributable amount of $9K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Newwave Foundation is led by Sherifah Munis, Executive Director on every filing since 2020; none of the 4 officers listed in 2024 report compensation.
Officers on the 2024 filing
Sherifah Munis
Executive Director
On filings since 2020
20 hrs/week
No compensation reported
Darrel Frater
Member
On filings since 2023
1 hr/week
No compensation reported
Somachi Kachikwu
Member
On filings since 2023
1 hr/week
No compensation reported
Stephanie Lott
Member
On filings since 2023
1 hr/week
No compensation reported
Former officers (3)
- Former: Cynthia Charchi (2020–2022) — Member
- Former: Padmanabhan Seshaiyer (2020–2022) — Member
- Former: Patrick B. Munis (2020–2022) — Member
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Newwave Foundation
How much does Newwave Foundation give each year?
Newwave Foundation gave $32K across 7 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $56K across 5 grants.
What is Newwave Foundation's typical grant size?
Newwave Foundation's median grant in 2024 was $2,500, and its average grant was $4,571, across 7 grants on its 2024 IRS Form 990-PF.
Where does Newwave Foundation give grants?
Newwave Foundation's top state is Maryland, with 45% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were District of Columbia (31%) and Virginia (23%).
Does Newwave Foundation give general operating support?
Not in 2024: none of the 7 grants with a stated purpose on Newwave Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Sponsorship" (4 grants) and "NWF Scholarships" (3 grants).
Who are Newwave Foundation's largest grantees?
Newwave Foundation's largest 2024 grantees include Collegebound Foundation ($11,148), Collegebound DC ($10,000) and Think PGC Inc ($1,500), according to its 2024 IRS Form 990-PF. It also paid 2 grants to individuals ($7,500), which are not listed by name. Together they received 71% of its itemized 2024 grant dollars.
How large is Newwave Foundation?
Newwave Foundation reported $161K in total assets on its 2024 IRS Form 990-PF. It paid out $147K in qualifying distributions that year, against a required minimum of $9K (roughly 5% of its investment assets).
What is Newwave Foundation's EIN?
Newwave Foundation's EIN (Employer Identification Number) is 47-3938878. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 10, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS June 7, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 14, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 17, 2025)
- IRS filings on file for fiscal years 2020–2024
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