New Community Corporation
- Assets
- $87.1m
- Revenue
- $13.2m
- Investments
- $0.0
- Employees
- 302
- Location
- Newark, NJ
- Founding
- 02/1974
- Data as of
- 12/2022
- EIN
- 22-1911104
Organization Overview
New Community Corporation is located in Newark, NJ. The organization was established in 1974. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, New Community Corporation employed 302 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Community Corporation 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, New Community Corporation generated $13.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (8.8%) each year. All expenses for the organization totaled $13.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, New Community Corporation has awarded 39 individual grants totaling $10,375,969. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
NCC IS A 55-YEAR-OLD COMPREHENSIVE CDC IN NEWARK, NJ THAT PROVIDES AFFORDABLE HOUSING DEVELOPMENT, CONSTRUC. & MGMT, EDUCATION, HEALTH, EARLY CHILDHOOD ED & YOUTH SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW COMMUNITY CORPORATION PROVIDES MANAGEMENT AND ADDITIONAL RESOURCE SUPPORT TO OVER 1,700 LOW- TO MODERATE-INCOME UNITS OF AFFORDABLE HOUSING. THROUGH A COMPREHENSIVE COMMUNITY DEVELOPMENT APPROACH, RESIDENTS' NEEDS ARE MET TO HELP THEM ACHIEVE PERMANENT HOUSING, EMPLOYMENT, ACCESS TO QUALITY EDUCATION, AND ACCESS TO QUALITY HEALTHCARE SERVICES. NEW COMMUNITY CORPORATION PROVIDES MANAGEMENT AND ADDITIONAL RESOURCE SUPPORT TO ITS AFFILIATE NEW COMMUNITY HEALTHCARE INC. NEW COMMUNITY HEALTHCARE PROVIDES THE HIGHEST QUALITY OF NURSING CARE 24 HOURS A DAY, SEVEN DAYS A WEEK. IT HAS A TEAM OF EXPERIENCED PROFESSIONALS WHO PROVIDE AROUND-THE-CLOCK NURSING CARE TO ALL RESIDENTS, INCLUDING THOSE IN ADVANCED STAGES OF ILLNESS. THE 180-BED SKILLED NURSING FACILITY OFFERS LONG-TERM CARE FOR SENIOR CITIZENS AND THE DISABLED AND PROVIDES SHORT-TERM SUBACUTE REHABILITATION CARE, WITH A DEDICATED 30-BED SUBACUTE UNIT. THE TEAM CONSISTS OF BOARD-CERTIFIED ATTENDING PHYSICIANS PLUS A MULTITUDE OF CONSULTANT PHYSICIANS SPECIALIZING IN DENTISTRY, OPTOMETRY, PODIATRY, PSYCHIATRY, PSYCHOLOGY, AND SURGERY. NEW COMMUNITY HEALTHCARE ALSO OFFERS HOSPICE AND RESPITE CARE, X-RAY, AND LABORATORY SERVICES ON SITE. NEW COMMUNITY CORPORATION PROVIDES MANAGEMENT SUPPORT TO ITS AFFILIATE HARMONY HOUSE, WHICH SHELTERS HOMELESS FAMILIES AND INDIVIDUALS WITH DISABILITIES AND CHRONIC HOMELESSNESS. HARMONY HOUSE HAS SERVED AS A STABLE HOUSING RESOURCE FOR OVER 17,000 FAMILIES IN ESSEX COUNTY, NJ. ITS PRIMARY GOAL IS TO HELP FAMILIES MOVE FROM HOMELESSNESS TO PERMANENT HOUSING AND FROM DEPENDENCY TO SELF-SUFFICIENCY. WITH THE CAPACITY TO HOUSE 102 FAMILIES IN INDIVIDUAL APARTMENT UNITS AND A HOST OF ON-SITE SOCIAL SERVICES, HARMONY HOUSE PROVIDES MUCH MORE THAN A SHELTER. IT OFFERS STABILITY TO FAMILIES FACING SEEMINGLY INSURMOUNTABLE BARRIERS AND ENABLES THEM TO RESTORE THEIR LIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Mbakaya Cfo/interim CEO | Officer | 40 | $253,731 |
Fred Hunter COO | Officer | 40 | $172,242 |
Winton Tolles Director Of Re Development | Officer | 40 | $170,000 |
Richard Rorhman CEO - Former | 40 | $143,907 | |
Madge Wilson Board Member | Trustee | 40 | $55,000 |
Simone Gagnerone CEO (from 12/01/2022) | Officer | 40 | $11,759 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lp Solutions Llc Consulting | 12/30/15 | $2,059,959 |
Withum Smith Brown Accounting | 12/30/15 | $555,138 |
Mcgeough Lending Llc Loan Brokers | 12/30/15 | $560,849 |
Louis L Berg Wholesale Trade | 12/30/15 | $306,516 |
Pepper Hamilton Llp Legal | 12/30/15 | $628,088 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $440,672 |
| All other contributions, gifts, grants, and similar amounts not included above | $646,539 |
| Noncash contributions included in lines 1a–1f | $57,492 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,087,211 |
| Total Program Service Revenue | $8,966,707 |
| Investment income | $2,513,632 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,000 |
| Net Gain/Loss on Asset Sales | $302,803 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,153,735 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,138,574 |
| Grants and other assistance to domestic individuals. | $4,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $437,732 |
| Compensation of current officers, directors, key employees. | $65,660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,704,363 |
| Pension plan accruals and contributions | $173,494 |
| Other employee benefits | $1,410,787 |
| Payroll taxes | $541,328 |
| Fees for services: Management | $6,215 |
| Fees for services: Legal | $126,012 |
| Fees for services: Accounting | $102,440 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $127,978 |
| Fees for services: Other | $540,964 |
| Advertising and promotion | $0 |
| Office expenses | $363,396 |
| Information technology | $51,525 |
| Royalties | $0 |
| Occupancy | $510,825 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $43,995 |
| Interest | $101,363 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $159,872 |
| Insurance | $169,069 |
| All other expenses | $0 |
| Total functional expenses | $13,661,940 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,662,748 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,758,313 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,185,904 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,143,549 |
| Net Land, buildings, and equipment | $1,070,337 |
| Investments—publicly traded securities | $28,980,419 |
| Investments—other securities | $0 |
| Investments—program-related | $30,900,096 |
| Intangible assets | $0 |
| Other assets | $8,419,826 |
| Total assets | $87,121,192 |
| Accounts payable and accrued expenses | $3,448,487 |
| 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 | $2,534,504 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $363,097 |
| Total liabilities | $6,346,088 |
| Net assets without donor restrictions | $80,132,581 |
| Net assets with donor restrictions | $642,523 |
| 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 | $87,121,192 |
Grants Awarded
Over the last fiscal year, New Community Corporation has awarded $1,138,324 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
NEW COMMUNITY FEDERAL CREDIT UNION PURPOSE: OPERATING SUPPORT | $188,324 |
NEW COMMUNITY EMPLOYMENT SERVICES CORP PURPOSE: OPERATING SUPPORT | $750,000 |
NEW COMMUNITY HARMONY HOUSE CORP PURPOSE: OPERATING SUPPORT | $100,000 |
COMMUNITY HILLS EARLY LEARNING CENTER INC PURPOSE: OPERATING SUPPORT | $100,000 |