New Community Urban Renewal Corp
- Assets
- $4.5m
- Revenue
- $997.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Newark, NJ
- Founding
- 01/1984
- Data as of
- 12/2023
- EIN
- 22-2484084
Organization Overview
New Community Urban Renewal Corp is located in Newark, NJ. The organization was established in 1984. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Community Urban Renewal Corp 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 12/2023, New Community Urban Renewal Corp generated $997.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $964.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 9 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OWN AND LEASE A 180 BED HEALTH CARE FACILITY TO A RELATED NOT-FOR-PROFIT CORPORATION RESPONSIBLE FOR ONGOING OPERATIONS OF THE EXTENDED CARE FACILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OWN AND LEASE A 180 BED HEALTH CARE FACILITY TO A RELATED NOT-FOR-PROFIT CORPORATION RESPONSIBLE FOR ONGOING OPERATIONS OF THE EXTENDED CARE FACILITY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Simone Gagnerone Chief Executive Officer | Officer | 1 | $0 |
Elizabeth Mbakaya Chief Financial Officer | Officer | 1 | $0 |
Fred Hunter Chief Operating Officer | Officer | 1 | $0 |
Richard G Rohman CEO - Former | 1 | $0 | |
Winton Tolles Director Of R/e Development | Officer | 1 | $0 |
Madge Wilson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $996,917 |
| Investment income | $778 |
| 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 | $997,695 |
| 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 | $105,230 |
| Fees for services: Legal | $2,532 |
| Fees for services: Accounting | $21,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,816 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $260,941 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $156,960 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $332,307 |
| Insurance | $73,180 |
| All other expenses | $0 |
| Total functional expenses | $964,666 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,463 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $79,273 |
| Net Land, buildings, and equipment | $1,537,700 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,696,745 |
| Total assets | $4,518,181 |
| Accounts payable and accrued expenses | $237,840 |
| 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 | $3,587,383 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,825,223 |
| Net assets without donor restrictions | $692,958 |
| 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 | $4,518,181 |