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Top Rated

New Incentives

CharityWatch report issued
September 2022

Top-Rated Charity
CharityWatch Grade
Our independent grade based
on a number of factors.
Program Percentage
Amount spent on programs
relative to overhead.
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

New Incentives
340 S Lemon Avenue
Suite 6133
Walnut, CA 91789

Other Names

All Babies Are Equal Initiative

Tax Status


Stated Mission

To reduce poverty while increasing health outcomes for women, caregivers and infants by providing financial assistance.

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Data based on Fiscal Year Ended 12/31/2020

Program Percentage: 89%

The percentage of New Incentives's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).


Calculated Total Expenses



Cost to Raise $100: $0

How many dollars New Incentives spends on fundraising to raise each $100 of contributions.


Calculated Total Contributions


Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources


Financial Documents

Entity Document Type Tax ID
New Incentives IRS Form 990 45-2368993
New Incentives Consolidated Audited Financial Statements Multiple
Entity: New Incentives
Document Type: IRS Form 990
Tax ID: 45-2368993
Entity: New Incentives
Document Type: Consolidated Audited Financial Statements
Tax ID: Multiple

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
New Incentives
meets governance benchmarks.
New Incentives
meets transparency benchmarks.
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy

  Name Title Compensation
1 Pratyush Agarwal COO $135,800
2 Svetha Janumpalli CEO $135,800
Name: Pratyush Agarwal
Title: COO
Compensation: $135,800
Name: Svetha Janumpalli
Title: CEO
Compensation: $135,800

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

CharityWatch's rating of New Incentives also includes the financial activity of its subsidiary, All Babies Are Equal Initiative, which is consolidated in the New Incentives audited financial statements for the year ended December 31, 2020. All significant intercompany balances and transactions have been eliminated in the audit consolidation.

According to the New Incentives consolidated audit of December 31, 2020 (Note 1 re: Business):

"...The Organization operates a program where low-income mothers are given cash transfers for immunizing their infants. This is known as Conditional Cash Transfers ('CCTs'). CCTs are one of the most evidence-based activities in international development. Through its Subsidiary [All Babies Are Equal Initiative], the Organization operates a conditional cash transfer program in Northern Nigeria, a region with one of the lowest immunization rates worldwide..."

According to the New Incentives consolidated audit of December 31, 2020 (Note 3, Concentrations): "For the years ended December 31, 2020 and 2019, 99% and 48%, of total support came from two and one grantor, respectively..."

[Note: According to available press releases from November and December 2020, New Incentives received a grant from Open Philanthropy in the amount of $16.8 million. This $16.8 million represents approximately 89% of New Incentives' total contributions in 2020. Given this high concentration, as well as the year-end timing of the grant, CharityWatch has adjusted out this $16.8 million grant in connection with calculating New Incentives' years of available assets in reserve at 12/31/2020.]

According to the New Incentives (NI) 2020 tax filing, NI reports re: the existence of a family or business relationship among officers, directors, trustees, or key employees: "Pratyush Agarwal and Svetha Janumpalli have a family relationship" (IRS Form 990, Schedule O re: Form 990 Part VI, Section A, line 2).

Pratyush Agarwal is reported as "Director & COO," and Svetha Janumpalli is reported as "Director & CEO." They are two of five reported officers and six reported voting members on the New Incentives board at year-end 2020, with four board members reported as independent (IRS Form 990, Part VII, Section A & Part VI, Section A, lines 1a & 1b).

According to the New Incentives consolidated audit of December 31, 2020 (Note 6, Contingency):

"...On March 11, 2020, the World Health Organization declared COVID-19 a global pandemic and recommended containment and mitigation measures worldwide. The spread of this virus globally has caused business disruption domestically in the United States and globally. While the disruption is currently expected to be temporary, there is considerable uncertainty around the duration of this uncertainty. The current situation is not expected to have an impact on the Organization's financial condition, results of operations, or cash flows as the organization received a pledge commitment of $16,785,243 during 2020 to fund operations through December 31, 2023. The Organization has also implemented comprehensive COVID-19 safety measures to ensure the safety of program participants and staff, and mitigate COVID-19 risks on its field operations."

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