Newton Community Development Foundation Inc
- Assets
- $11.2m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 27
- Location
- Newton, MA
- Founding
- 05/1970
- Data as of
- 12/2022
- EIN
- 04-2453465
Organization Overview
Newton Community Development Foundation Inc is located in Newton, MA. The organization was established in 1970. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Newton Community Development Foundation Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newton Community Development Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Newton Community Development Foundation Inc generated $2.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. While expenses have increased by 5.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND MANAGE LOW AND MODERATE INCOME HOUSING AND ELDERLY HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT AND MANAGEMENT OF 268 UNITS OF LOW AND MODERATE INCOME HOUSING AND ELDERLY HOUSING FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Engler President | OfficerTrustee | 1 | $0 |
Judith Weber Vice President | OfficerTrustee | 1 | $0 |
Brian Gallagher Secretary | OfficerTrustee | 1 | $0 |
Timothy Dacey Treasurer | OfficerTrustee | 1 | $0 |
Zak Attenborough Director | Trustee | 1 | $0 |
Christine Dillon Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $69,668 |
| All other contributions, gifts, grants, and similar amounts not included above | $110,309 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $179,977 |
| Total Program Service Revenue | $1,484,000 |
| Investment income | $158,656 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $104,386 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,246,080 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $217,801 |
| Compensation of current officers, directors, key employees. | $64,776 |
| Compensation to disqualified persons | $88 |
| Other salaries and wages | $1,000,973 |
| Pension plan accruals and contributions | $14,744 |
| Other employee benefits | $102,988 |
| Payroll taxes | $96,279 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $277 |
| Fees for services: Accounting | $46,363 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $11,161 |
| Fees for services: Investment Management | $39,412 |
| Fees for services: Other | $29,584 |
| Advertising and promotion | $6,314 |
| Office expenses | $25,339 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $112,150 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,823 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,692 |
| Insurance | $0 |
| All other expenses | $66,680 |
| Total functional expenses | $1,931,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $169,936 |
| Savings and temporary cash investments | $1,462,533 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,015,824 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,365,467 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,784 |
| Net Land, buildings, and equipment | $338,052 |
| Investments—publicly traded securities | $5,319,217 |
| Investments—other securities | $0 |
| Investments—program-related | $1,288,846 |
| Intangible assets | $209,502 |
| Other assets | $43,659 |
| Total assets | $11,224,820 |
| Accounts payable and accrued expenses | $109,357 |
| Grants payable | $0 |
| Deferred revenue | $53 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $267,484 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,032,735 |
| Total liabilities | $2,409,629 |
| Net assets without donor restrictions | $8,815,191 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,224,820 |