Newvue Affordable Housing Corporation
- Assets
- $9.9m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Fitchburg, MA
- Founding
- 07/1997
- Data as of
- 12/2021
- EIN
- 04-3271288
Organization Overview
Newvue Affordable Housing Corporation is located in Fitchburg, MA. The organization was established in 1997. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, 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 Affordable Housing Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2021, Newvue Affordable Housing Corporation generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.4% each year . All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 15.6% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
NEWVUE AFFORDABLE HOUSING CORPORATION IS A NONPROFIT ORGANIZATION THAT DEVELOPS AND PROVIDES AFFORDABLE HOUSING TO LOW AND MODERATE INCOME HOUSEHOLDS IN NORTH CENTRAL MASSACHUSETTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEWVUE AFFORDABLE HOUSING CORPORATION IS A NONPROFIT ORGANIZATION THAT DEVELOPS AND PROVIDES AFFORDABLE HOUSING TO LOW AND MODERATE INCOME HOUSEHOLDS IN NORTH CENTRAL MASSACHUSETTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Dohan Clerk | OfficerTrustee | 1 | $0 |
Tom Gray President | OfficerTrustee | 1 | $0 |
Christina Dirusso Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $350,000 |
| Government grants | $115,364 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $485,364 |
| Total Program Service Revenue | $1,113,057 |
| Investment income | $503 |
| 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 | $1,607,987 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,998 |
| Fees for services: Accounting | $25,969 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $309,205 |
| Advertising and promotion | $0 |
| Office expenses | $36,522 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $839,784 |
| Travel | $1,631 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $302,127 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,700,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $245,850 |
| Savings and temporary cash investments | $1,130,337 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,638 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $21,413 |
| Net Land, buildings, and equipment | $6,966,938 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $10,011 |
| Other assets | $1,505,224 |
| Total assets | $9,905,411 |
| Accounts payable and accrued expenses | $314,407 |
| Grants payable | $0 |
| Deferred revenue | $10,000 |
| 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 | $9,206,017 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,636 |
| Total liabilities | $9,538,060 |
| Net assets without donor restrictions | $367,351 |
| 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 | $9,905,411 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Roc Usa Llc Concord, NH | $163,263,242 | $13,007,393 |
Womens Prison Association And Home New York, NY | $6,652,586 | $9,309,545 |
Homes For The Homeless Institute Inc New York, NY | $69,885,275 | $9,054,313 |
Initiative For A Competitive Inner City Inc Roxbury, MA | $11,137,097 | $6,700,624 |
Spring Meadows Association Of Responsible Tenants Inc Springfield, MA | $14,323,481 | $4,117,328 |
St Vincents Development Inc Trumbull, CT | $27,854,287 | $3,404,975 |
Mutual Housing Association Of Greater Hartford Inc Hartford, CT | $35,173,874 | $3,634,828 |
Homeownership Affordability Trust Fund Providence, RI | $111,238,696 | $1,978,717 |
Urban Homeownership Corp New York, NY | $1,496,101 | $1,881,775 |
Building Owners And Managers Association Of Greater New York B New York, NY | $3,005,269 | $2,303,444 |
Newvue Affordable Housing Corporation Fitchburg, MA | $9,905,411 | $1,607,987 |
Joseph M Dassern Housing Corporation Dobbs Ferry, NY | $2,857,520 | $1,210,558 |