Northwest Developers Inc
- Assets
- $8.6m
- Revenue
- $50.9k
- Investments
- $560.5k
- Employees
- 0
- Location
- Newark, NJ
- Founding
- 03/2017
- Data as of
- 12/2022
- EIN
- 81-5401172
Organization Overview
Northwest Developers Inc is located in Newark, NJ. The organization was established in 2017. 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. Northwest Developers 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, Northwest Developers Inc generated $50.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (34.6%) each year. All expenses for the organization totaled $81.2k 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
TO PROVIDE QUALITY HOUSING WHICH IS AFFORDABLE FOR LOW AND MODERATE INCOME PEOPLE IN A SAFE AND SECURE ENVIRONMENT AND TO PROVIDE FINANCIAL AND OTHER FORMS OF ASSISTANCE TO TENANTS AND THEIR CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BOARD OF DIRECTORS WILL ESTABLISH AND ENHANCE PROGRAMS SUCH AS TUTORING, JOB TRAINING, AFTER SCHOOL PROGRAMS, AND PHYSICAL FITNESS AND NUTRITION PROGRAMS THAT PROVIDE EDUCATIONAL, RECREATIONAL, HEALTH AND VOCATIONAL OPPORTUNITIES FOR THE TENANTS OF NEW HOPE VILLAGE AND OTHER WORTHY NOT FOR PROFITS ENTITIES SERVING TO ENHANCE THE HEALTH AND WELFARE OF LOW TO MODERATE INCOME PEOPLE. THE ORGANIZATION ALSO ISSUES SCHOLARSHIPS TO HELP FURTHER THE EDUCATIONAL EXPERIENCE OF THE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ernestine Watson President | OfficerTrustee | 1 | $7,200 |
John W Carter Vice President | OfficerTrustee | 1 | $4,800 |
E Denise Council Secretary | OfficerTrustee | 1 | $4,800 |
Nancy Tiller Treasurer | OfficerTrustee | 1 | $4,800 |
Richard M Taylor Member | Trustee | 1 | $4,800 |
Mary Dickens Member | Trustee | 1 | $4,800 |
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 | $38,977 |
| Investment income | $33,272 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$21,395 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,854 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| 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. | $31,200 |
| Compensation of current officers, directors, key employees. | $31,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,375 |
| Fees for services: Accounting | $7,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,623 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $742 |
| All other expenses | $0 |
| Total functional expenses | $81,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,845 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,908,405 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $560,487 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,556,737 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $8,556,737 |
| 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 | $8,556,737 |
Grants Awarded
Over the last fiscal year, Northwest Developers Inc has awarded $15,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MARION THOMAS CHARTER SCHOOL FOUNDATION PURPOSE: SCHOLARSHIPS | $10,000 |
SPELMAN COLLEGE PURPOSE: SCHOLARSHIPS | $5,000 |