Newvue Communities Inc
- Assets
- $3.7m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Fitchburg, MA
- Founding
- 01/1982
- Data as of
- 12/2022
- EIN
- 04-2690210
Organization Overview
Newvue Communities Inc is located in Fitchburg, MA. The organization was established in 1982. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newvue Communities 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, Newvue Communities Inc generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $3.4m during the year ending 12/2022. 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
LED BY COMMUNITY MEMBERS OF DIVERSE INCOME AND BACKGROUNDS, WE DEVELOP QUALITY HOUSING, CREATE ECONOMIC OPPORTUNITIES, AND FOSTER CIVIC ENGAGEMENT IN NORTH CENTRAL MASSACHUSETTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING AND FINANCIAL SERVICES: ASSISTS CLIENTS WHO ARE SEEKING TO IMPROVE THEIR FINANCIAL SITUATION THROUGH FINANCIAL COACHING, HOMEOWNERSHIP EDUCATION AND COUNSELING. WE HELP OUR CLIENTS MEET THEIR FINANCIAL GOALS. WE ALSO HELP HOMEOWNERS BUY A HOME, KEEP A HOME AND MAINTAIN A HOME. OUR FOCUS IS ON ASSISTING FIRST TIME HOMEBUYERS WHOARE OF LOW TO MODERATE INCOME TO PURCHASE THEIR FIRST HOME, AND TO HELPLOW AND MODERATE INCOME HOMEBUYERS WHO ARE FACING THE THREAT OFFORECLOSURE TO KEEP THEIR HOME.
HOUSING DEVELOPMENT: DEVELOPS QUALITY HOUSING FOR LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES.
SMALL BUSINESS: WE SEEK TO CREATE AND RETAIN STRONG BUSINESSES AND GOOD JOBS. WE FOCUS OUR EFFORTS ON MICRO-ENTERPRISES. WE PROMOTE THE ABILITY OF AREA RESIDENTS TO OWN AND OPERATE THEIR OWN BUSINESSES AND GROW AND REVITALIZE EXISTING FIRMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Dohan Executive Director | Officer | 39 | $147,119 |
Anne Reitmayer Lta Development Director | 40 | $149,732 | |
Ray Belanger Small Business Director | 40 | $126,780 | |
Anne Mola CFO (until 2/2022) | Officer | 40 | $30,073 |
Tom Gray Board President | OfficerTrustee | 2 | $0 |
Evelina Rodriguez Board Vice President | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Quality Contracting Inc General Contractor | 12/30/17 | $318,549 |
Davis Square Architects Architectural Services | 12/30/17 | $332,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $58,683 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $995,668 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,760,580 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,814,931 |
| Total Program Service Revenue | $649,783 |
| Investment income | $8,823 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,743,042 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $825,968 |
| 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. | $186,817 |
| Compensation of current officers, directors, key employees. | $56,045 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $984,382 |
| Pension plan accruals and contributions | $17,463 |
| Other employee benefits | $93,505 |
| Payroll taxes | $102,071 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,674 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $280,000 |
| Advertising and promotion | $952 |
| Office expenses | $19,720 |
| Information technology | $40,072 |
| Royalties | $0 |
| Occupancy | $26,440 |
| Travel | $6,553 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,662 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $10,704 |
| Total functional expenses | $3,408,300 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $918,521 |
| Savings and temporary cash investments | $1,398,875 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $153,336 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $833,157 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $349,105 |
| Total assets | $3,652,994 |
| Accounts payable and accrued expenses | $176,495 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $176,495 |
| Net assets without donor restrictions | $3,255,032 |
| Net assets with donor restrictions | $221,467 |
| 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 | $3,652,994 |