New Community Development Corporation
- Assets
- $11.2m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 4
- Location
- Council Bluffs, IA
- Founding
- 07/1993
- Data as of
- 12/2022
- EIN
- 47-0754453
Organization Overview
New Community Development Corporation, operating under the name Neighborworks Home Solutions, is located in Council Bluffs, IA. The organization was established in 1993. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Neighborworks Home Solutions employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborworks Home Solutions 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, Neighborworks Home Solutions generated $3.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $2.3m during the year ending 12/2022. While expenses have increased by 2.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES SAFE, AFFORDABLE AND QUALITY HOUSING FOR LOW AND MODERATE INCOME FAMILIES IN DOUGLAS & SARPY NE, & POTTAWATTAMIE COUNTY IA, WITH AN EMPHASIS IN OMAHA/COUNCIL BLUFFS METROPOLITAN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN ITS EFFORTS TO PROVIDE SAFE, AFFORDABLE AND HIGH QUALITY HOUSING TO LOW AND MODERATE INCOME FAMILIES, THE ORGANIZATION HAD A DRAMATIC IMPACT ON THE LOCAL COMMUNITY. THE ORGANIZATION PLACED 1 NEW HOME OWNER IN AN ENERGRY EFFICIENT QUALITY HOME WITH 6 UNDER CONSTRUCTION. THE INFIL PROGRAM HELPS BRIDGE THE AFFORDABILITY GAP WITH DOWN PAYMENTS ASSISTANCE FOR QUALIFIED BUYES OF THE NEWLY CONSTRUCTED HOMES WHILE INCREASING THE TAX BASE OF THE AREAS THE HOMES ARE BUILT. THE ORGANIZATION ALSO OPERATED 360 RENTAL UNITS WITH A FOCUS ON THOSE WHO ARE LOW TO MODERATE INCOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Coleman Chief Executive Officer | Officer | 40 | $80,853 |
David Hazlewood Chief Operating Officer | Officer | 40 | $74,130 |
Karen Anderson Board Member | Trustee | 1 | $0 |
Ruy Acevedo Board Member | Trustee | 1 | $0 |
Teresa Hunter Board Member | Trustee | 1 | $0 |
Tim German Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $343,405 |
| All other contributions, gifts, grants, and similar amounts not included above | $286,415 |
| Noncash contributions included in lines 1a–1f | $3,600 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $629,820 |
| Total Program Service Revenue | $1,767,670 |
| Investment income | $1,030 |
| 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 | -$35,817 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,302,380 |
| 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. | $178,837 |
| Compensation of current officers, directors, key employees. | $103,630 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $117,263 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,573 |
| Payroll taxes | $23,580 |
| Fees for services: Management | $133,855 |
| Fees for services: Legal | $14,513 |
| Fees for services: Accounting | $120,412 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $1,414 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,896 |
| Office expenses | $16,972 |
| Information technology | $11,451 |
| Royalties | $0 |
| Occupancy | $349,571 |
| Travel | $2,134 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,478 |
| Interest | $142 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $163,251 |
| Insurance | $14,061 |
| All other expenses | $243 |
| Total functional expenses | $2,301,571 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,736,529 |
| Savings and temporary cash investments | $49,435 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $74,319 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $652,765 |
| Inventories for sale or use | $1,023,011 |
| Prepaid expenses and deferred charges | $10,085 |
| Net Land, buildings, and equipment | $5,708,027 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,966,169 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,220,340 |
| Accounts payable and accrued expenses | $225,879 |
| Grants payable | $0 |
| Deferred revenue | $479,045 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $93,768 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,663,005 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,461,697 |
| Net assets without donor restrictions | $6,723,643 |
| Net assets with donor restrictions | $35,000 |
| 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 | $11,220,340 |