Newsed Community Development Corporation Inc
- Assets
- $8.4m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 14
- Location
- Denver, CO
- Founding
- 08/1983
- Data as of
- 12/2022
- EIN
- 74-2275534
Organization Overview
Newsed Community Development Corporation Inc is located in Denver, CO. The organization was established in 1983. 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. As of 12/2022, Newsed Community Development Corporation Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newsed Community Development Corporation 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 12/2022, Newsed Community Development Corporation Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. 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
NEWSED COMMUNITY DEVELOPMENT CORPORATION, INC. (NEWSED CDC) WAS CREATED TO DEVELOP LOW INCOME HOUSING OPPORTUNITES, TO IDENTIFY AND ELIMINATE DISCRIMINATION IN THE HOUSING AREA, AND TO RAISE ECONOMIC, EDUCATIONAL, CULTURAL AND SOCIAL LEVEL OF THE RESIDENTS ON THE CITY AND COUNTY OF DENVER .
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING DEVELOPMENT: NEWSED CDC PURCHASES, REPAIRS, AND RESELLS FORMERLY FORECLOSED HOMES FROM PRIVATE LENDERS TO INCOME ELIGIBLE HOUSEHOLDS. REAL ESTATE DEVELOPMENT: NEWSED CDC DEVELOPS COMMERCIAL, RESIDENTIAL AND MIXED USE REAL ESTATE. IN TOTAL, NEWSED CDC HAS DEVELOPED OVER 650,000 SQUARE FEET OF HOUSING AND RETAIL/COMMERCIAL REAL ESTATE OVER THE LAST THREE DECADES.
HOMEOWNERSHIP COUNSELING: SINCE THE BEGINNING OF NEWSED CDC'S HOME BUYER COUNSELING PROGRAM OVER ONE THOUSAND CLIENTS HAVE BEEN SUCCESSFULLY TRANSITIONED INTO HOMEOWNERSHIP. FORECLOSURE COUNSELING: NEWSED CDC PROVIDES FORECLOSURE PREVENTION COUNSELING TO THOSE FACING THIS FINANCIAL CRISIS. OUR HIGHLY TRAINED AND EXPERIENCED COUNSELORS HAVE WORKED WITH HUNDREDS OF CLIENTS. HOMEBUYER WORKSHOPS & ONLINE EDUCATION: NEWSED CDC'S HOMEBUYER WORKSHOPS ARE DESIGNED TO HELP NAVIGATE THE PATH TO HOMEOWNERSHIP FOR FREE. NEWSED CDC ONLINE EDUCATION COURSES WERE DEVELOPED BY A HUD CERTIFIED NONPROFIT AGENCY AND AFTER COMPLETION, THE CLIENT WILL MEET CHFA REQUIREMENTS. NEWSED CDC WORKS IN COLLABORATION WITH COMMUNITY FINANCIAL PARTNERS TO OFFER A SERIES OF FINANCIAL CLASSES. THE CLASSES ARE DESIGNED TO HELP PARTICIPANTS IMPROVE THEIR OVERALL AND LONG-TERM FINANCIAL SITUATION. PARTICIPANTS ARE PROVIDED WITH THE BASICS OF MONEY MANAGEMENT TO BE ABLE TO INCREASE THEIR SAVINGS AND ACCOMPLISH THEIR FINANCIAL GOALS.
PROPERTY MANAGEMENT: MAINTAIN HOUSING PROJECTS IN THE DENVER AREA SPECIFICALLY DESIGNED TO SUPPORT LOW-INCOME HOUSEHOLDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole Marquez Chair | OfficerTrustee | 0.5 | $0 |
Jennifer Brezicha Treasurer | OfficerTrustee | 0.5 | $0 |
Sarah Geis Secretary | OfficerTrustee | 0.5 | $0 |
Jose Aragon Director | Trustee | 0.5 | $0 |
Steve Chavez Director | Trustee | 0.5 | $0 |
Jesse Ogas Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $308,862 |
| Related organizations | $0 |
| Government grants | $451,724 |
| All other contributions, gifts, grants, and similar amounts not included above | $70,894 |
| Noncash contributions included in lines 1a–1f | $65,377 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $831,480 |
| Total Program Service Revenue | $575,808 |
| Investment income | $28,658 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$280,461 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,188,013 |
| 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. | $95,000 |
| Compensation of current officers, directors, key employees. | $11,972 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $463,269 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $48,085 |
| Payroll taxes | $44,321 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $172,165 |
| Advertising and promotion | $18,039 |
| Office expenses | $34,727 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,750 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,644 |
| Interest | $21,172 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $115,779 |
| Insurance | $81,244 |
| All other expenses | $61,373 |
| Total functional expenses | $1,686,177 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $711,164 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $80,895 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,558,530 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $96,625 |
| Net Land, buildings, and equipment | $3,601,943 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $372,089 |
| Total assets | $8,421,246 |
| Accounts payable and accrued expenses | $394,557 |
| Grants payable | $0 |
| Deferred revenue | $3,693 |
| 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 | $2,543,267 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $237,561 |
| Total liabilities | $3,179,078 |
| Net assets without donor restrictions | $4,159,068 |
| Net assets with donor restrictions | $1,083,100 |
| 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 | $8,421,246 |