New Beginning Affordable Homes

Organization Overview

New Beginning Affordable Homes is located in University Park, IL. The organization was established in 2014. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., 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. New Beginning Affordable Homes 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 12/2019, New Beginning Affordable Homes generated $253.1k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $251.3k during the year ending 12/2019. While expenses have increased by 4.5% per year over the past 2 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

REHABILITATE LOW INCOME HOUSING PROJECTS FOR PEOPLE WITH INCOME UNDER THE POVERTY LINE. BUY HOUSES AND SELL TO UNDERPRIVILEGED PEOPLE IN CHICAGO LAND WHO CANNOT AFFORD HOMES THROUGH CONVENTIONAL MEANS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ORGANIZATION ASSISTED DOZENS OF LOW INCOME HOUSING OWNERS TO REHABILITATE THEIR PROPERTIES. THEY ALSO PURCHASED PEOPERTIES FOR UNDERPRIVILEGED LOW INCOME HOUSING CLIENTS TO OWN OR RENT PROPERTY THAT THEY COULD NOT AFFORD THROUGH CONVENTIONAL FINANCING. COMPANY SCREENED THE CLIENTS TO DETERMINE THAT THEY QUALIFIED FOR LOW INCOME HOUSING IN THE CITY OF CHICAGO AND VICINITY.


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Board, Officers & Key Employees

Name (title)Compensation
Richard Cobbins
President
$0
Linda Cobbins
Secretary
$0
Joshua Cobbins
Director
$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$0
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 $253,124

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