New Opportunities Inc
- Assets
- $15.4m
- Revenue
- $45.9m
- Investments
- $0.0
- Employees
- 566
- Location
- Waterbury, CT
- Founding
- 02/1983
- Data as of
- 10/2023
- EIN
- 06-6071847
Organization Overview
New Opportunities Inc is located in Waterbury, CT. The organization was established in 1983. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 10/2023, New Opportunities Inc employed 566 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Opportunities 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 10/2023, New Opportunities Inc generated $45.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $45.8m during the year ending 10/2023. While expenses have increased by 2.9% 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.
Since 2015, New Opportunities Inc has awarded 29 individual grants totaling $2,592,761. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE QUALITY OF LIFE FOR ECONOMICALLY DISADVANTAGED INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENERGY PROGRAMS: ENERGY PROGRAMS INCLUDES CONNECTICUT ENERGY ASSISTANCE PROGRAM, WATER ASSISTANCE PROGRAM, AND WEATHERIZATION SERVICES. CONNECTICUT ENERGY AND WATER ASSISTANCE PROGRAMS PROVIDES HEAT AND WATER ASSISTANCE FOR LOW-INCOME RENTERS AND HOMEOWNERS. 50,031 PEOPLE RECEIVED ASSISTANCE WITH THEIR UTILITIES BILLS UNDER CONNECTICUT ENERGY AND WATER ASSISTANCE PROGRAMS. WEATHERIZATION SERVICES PROVIDES HELP TO HOUSEHOLDS TO DECREASE ENERGY CONSUMPTION. 239 HOUSEHOLDS WERE ABLE TO DECREASE THEIR HOME ENERGY CONSUMPTION BY USING WEATHERIZATION SERVICES
ELDERLY: ELDERLY PROGRAM INCLUDES NUTRITIONAL SERVICES BY PROVIDING HOT MEALS TO SENIOR CITIZENS AND HOMECARE SERVICES, INCLUDING RETIRED SENIOR VOLUNTARY PROGRAM, FOSTER GRANDPARENT PROGRAM, SENIOR COMPANION PROGRAM AND OTHERS. 3,000 SENIOR INDIVIDUALS RECEIVED PREPARED MEALS DURING THE YEAR AND 2,405 INDIVIDUALS/FAMILIES RECEIVED FOOD DURING THE YEAR.
COMMUNITY SERVICES: COMMUNITY SERVICES PROVIDES WORK READINESS ASSISTANCE, EMPLOYMENT TRAINING, CORONAVIRUS AID, AND CASE MANAGEMENT SERVICES FOR LOW-INCOME INDIVIDUALS. OPERATES THREE FAMILY DEVELOPMENT CENTERS IN WATERBURY, MERIDEN, AND TORRINGTON, CONNECTICUT. 1,143 LOW-INCOME PEOPLE RECEIVED ACADEMIC OR EMPLOYMENT TRAINING. ALSO, 2,231 INDIVIDUALS RECEIVED CASE MANAGEMENT SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Perez Chairperson | OfficerTrustee | 1 | $0 |
Melissa Green Vice Chairperson | OfficerTrustee | 1 | $0 |
Maritza Rivera Secretary | OfficerTrustee | 1 | $0 |
John Burrus Director | Trustee | 1 | $0 |
Dora Bennett Director | Trustee | 1 | $0 |
Mary Conklin Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Trio Foods Food Service | 10/30/23 | $1,156,020 |
General Technology Group It Services | 10/30/23 | $274,845 |
Home Comfort Practice Construction | 10/30/23 | $228,048 |
Abbott Nutrition Nutrition Service | 10/30/23 | $199,324 |
Evans Floor & Cleaning Services Llc Cleaning | 10/30/23 | $182,348 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,031 |
| Related organizations | $0 |
| Government grants | $42,825,322 |
| All other contributions, gifts, grants, and similar amounts not included above | $727,879 |
| Noncash contributions included in lines 1a–1f | $497,596 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $43,556,232 |
| Total Program Service Revenue | $1,863,311 |
| Investment income | $2,850 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $101,186 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,934,854 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $312,733 |
| Grants and other assistance to domestic individuals. | $23,285,080 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,056,559 |
| Compensation of current officers, directors, key employees. | $543,298 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,016,634 |
| Pension plan accruals and contributions | $141,276 |
| Other employee benefits | $932,925 |
| Payroll taxes | $847,574 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,848 |
| Fees for services: Accounting | $163,326 |
| Fees for services: Lobbying | $25,250 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $408,795 |
| Advertising and promotion | $19,434 |
| Office expenses | $439,504 |
| Information technology | $70,001 |
| Royalties | $0 |
| Occupancy | $1,943,502 |
| Travel | $314,850 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,300 |
| Interest | $312,911 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $868,031 |
| Insurance | $375,962 |
| All other expenses | $0 |
| Total functional expenses | $45,779,180 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $692,579 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,084,921 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $20,705 |
| Prepaid expenses and deferred charges | $47,497 |
| Net Land, buildings, and equipment | $10,972,573 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,614,727 |
| Total assets | $15,433,002 |
| Accounts payable and accrued expenses | $3,377,372 |
| Grants payable | $0 |
| Deferred revenue | $1,770,156 |
| Tax-exempt bond liabilities | $1,459,058 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,965,528 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $934,277 |
| Total liabilities | $15,506,391 |
| Net assets without donor restrictions | -$309,173 |
| Net assets with donor restrictions | $235,784 |
| 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 | $15,433,002 |
Grants Awarded
Over the last fiscal year, New Opportunities Inc has awarded $312,733 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE SALVATION ARMY PURPOSE: HOUSING | $71,273 |
CATHOLIC CHARITIES PURPOSE: EARLY CHILDHOOD READINESS | $241,460 |