New World Center Foundation Inc
- Assets
- $10.3m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 1
- Location
- Miami, FL
- Founding
- 07/1980
- Data as of
- 12/2021
- EIN
- 59-1936652
Organization Overview
New World Center Foundation Inc is located in Miami, FL. The organization was established in 1980. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New World Center Foundation Inc 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 12/2021, New World Center Foundation Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 3.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST THE CITY OF MIAMI, FLORIDA AND OTHER CIVIC BODIES WITH THE OBJECTIVE OF ELIMINATING COMMUNITY DETERIORATION AND FOSTERING THE RENEWAL REDEVELOPMENT AND IMPROVEMENT OF PRIMARILY THE THE DOWNTOWN AREA OF MIAMI TO PROMOTE THE GENERAL WELFARE OF THE CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZAITON OWNS AND OEPRATES A 130 UNIT AFFORDABLE HOUSING APARTMENT BUILDING. NOT LESS THAN 80 PERCENT OF THE UNITS THEREIN ARE SET ASIDE FOR RENTAL TO VERY LOW-INCOME PERSONS OR HOUSEHOLDS WHOSE INCOMES ARE 60 PERCENT OR LESS OF THE MEDIAN ANNUAL GROSS INCOME FOR MIAMI-DADE COUNTY, FLORIDA, AND 20 PERCENT OF THE UNITS IN THE PROJECT FOR RENTAL TO VERY LOW INCOME PERSONS OR HOUSEHOLDS OR WHOSE INCOMES ARE FORTY PERCENT OF THE MEDIUM ANNUAL GROSS INCOME FOR MIAMI-DADE COUNTY, FLORIDA OR LESS. IN ADDITION, 40 PERCENT OF 80 PERCENT OF THE UNITS ARE SET ASIDE FOR ELDERLY PERSONS.
ASSISTANCE TO THE COMMUNITY FOR LOW INCOME HOUSING.
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 |
|---|---|---|---|
Janitza Torres-Kaplan Executive Di | Officer | 40 | $130,000 |
Wilfredo Gort Chairman | OfficerTrustee | 1 | $0 |
Peter Mcdougal Treasurer | OfficerTrustee | 1 | $0 |
Steven Zorn Secretary | OfficerTrustee | 0.5 | $0 |
Gerard Guarch Board Member | Trustee | 0.5 | $0 |
Luis DE Rosa Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $58,173 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $58,173 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $58,173 |
| Total Program Service Revenue | $1,381,581 |
| Investment income | $281 |
| 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 | $1,440,035 |
| 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. | $130,000 |
| Compensation of current officers, directors, key employees. | $130,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $130,283 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,165 |
| Payroll taxes | $20,504 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $133 |
| Fees for services: Accounting | $14,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,240 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $228,833 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $131,317 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $383,908 |
| Insurance | $11,619 |
| All other expenses | $72,925 |
| Total functional expenses | $1,445,153 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,085,918 |
| Savings and temporary cash investments | $172,993 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $326 |
| 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 | $42,408 |
| Net Land, buildings, and equipment | $7,659,322 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $313,117 |
| Total assets | $10,274,084 |
| Accounts payable and accrued expenses | $78,679 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $129,866 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,848,204 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,407 |
| Total liabilities | $4,083,156 |
| Net assets without donor restrictions | $6,190,928 |
| 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 | $10,274,084 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Macon Bibb County Economic Opportunity Council Inc Macon, GA | $9,862,743 | $18,330,804 |
Economic Opportunity For Savannah Chatham County Area Inc Savannah, GA | $8,523,279 | $14,850,530 |
Coastal Plain Area Economic Opportunity Authority Inc Valdosta, GA | $6,623,534 | $13,801,263 |
Tri-County Community Council Inc Bonifay, FL | $6,451,084 | $10,551,381 |
Community Action For Improvement Inc Lagrange, GA | $4,305,950 | $11,116,636 |
Action Ministries Inc Atlanta, GA | $1,217,329 | $6,005,144 |
Economic Opportunities Council Of Indian River County Inc Vero Beach, FL | $1,869,765 | $6,434,584 |
Grand Avenue Economic Community Development Corp Orlando, FL | $15,324,319 | $6,865,821 |
University Area Community Development Corporation Inc Tampa, FL | $12,749,613 | $5,875,333 |
Fcs Urban Ministries Inc Atlanta, GA | $14,341,492 | $9,768,608 |
Pinellas Opportunity Council Inc Saint Petersburg, FL | $578,079 | $5,188,164 |
Florida Police Benevolent Association Inc Doral, FL | $8,588,040 | $5,522,405 |