Nueva Esperanza Housing And Economic Development
- Assets
- $3.8m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 10
- Location
- Philadelphia, PA
- Founding
- 07/1999
- Data as of
- 06/2022
- EIN
- 23-2952060
Organization Overview
Nueva Esperanza Housing And Economic Development is located in Philadelphia, PA. The organization was established in 1999. 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. As of 06/2022, Nueva Esperanza Housing And Economic Development employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nueva Esperanza Housing And Economic Development 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 06/2022, Nueva Esperanza Housing And Economic Development generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $870.7k during the year ending 06/2022. While expenses have increased by 0.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
BUILDS, REHABILITATES AND IMPROVES FACILITIES TO MAKE QUALITY HOUSING AVAILABLE TO LOWER INCOME PERSONS THROUGH RENTAL/HOMEOWNERSHIP PROGRAMS AND COMMUNITY ECONOMIC DEV.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NUEVA ESPERANZA HOUSING AND ECONOMIC DEVELOPMENT CORPORATION ("NEHED") IS A NON-PROFIT CORPORATION SERVING THE HISPANIC COMMUNITY OF NORTH PHILADELPHIA. THE PRIMARY PURPOSE OF THE ORGANIZATION IS THE IMPROVEMENT OF THE PHYSICAL, ECONOMIC, AND SOCIAL ENVIRONMENT OF THE TARGET AREA BOUNDED BY ROOSEVELT BOULEVARD, 9TH STREET, ERIE AVENUE, AND FRONT STREET IN PHILADELPHIA, PA BY ADDRESSING THE NEEDS OF LOW-INCOME PERSONS, INCLUDING HOUSING FOR LOWER INCOME PERSONS AND ACTIVITIES ON A NOT-FOR-PROFIT AND CHARITABLE BASIS. NEHED'S MISSION IS TO TRANSFORM HUNTING PARK INTO A DESTINATION AND A MODEL NEIGHBORHOOD BY EMPOWERING ITS PEOPLE AND FOSTERING COMMUNITY ENGAGEMENT, ECONOMIC AND PHYSICAL DEVELOPMENT, AND EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Luis A Cortes Jr Board Chair - Member | OfficerTrustee | 2 | $0 |
Rev Danny Cortes Board Treasurer - Member | OfficerTrustee | 2 | $0 |
Walter Toliver Board Member | Trustee | 2 | $0 |
Jodi Reynhout Sr VP Of Comm. Engagement | Officer | 40 | $92,151 |
Catalina Hunter Board Member | Trustee | 2 | $0 |
Pastor Matt Lin Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $707,667 |
| All other contributions, gifts, grants, and similar amounts not included above | $434,811 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,142,478 |
| Total Program Service Revenue | $68,428 |
| Investment income | $0 |
| 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 | $1,212,448 |
| 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. | $110,003 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $343,322 |
| Pension plan accruals and contributions | $4,711 |
| Other employee benefits | $54,806 |
| Payroll taxes | $33,731 |
| Fees for services: Management | $42,074 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $773 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $78,542 |
| Advertising and promotion | $3,486 |
| Office expenses | $24,054 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $45,163 |
| Travel | $239 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,409 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,865 |
| Insurance | $49,038 |
| All other expenses | $51,507 |
| Total functional expenses | $870,723 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,015,306 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $143,216 |
| Accounts receivable, net | $105,868 |
| 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 | $3,801 |
| Net Land, buildings, and equipment | $727,100 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $764,183 |
| Total assets | $3,759,474 |
| Accounts payable and accrued expenses | $18,069 |
| Grants payable | $0 |
| Deferred revenue | $1,964 |
| 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 | $1,372,320 |
| Total liabilities | $1,392,353 |
| Net assets without donor restrictions | $1,215,406 |
| Net assets with donor restrictions | $1,151,715 |
| 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 | $3,759,474 |