New Beginnings For Families Inc
- Assets
- $1.4m
- Revenue
- $205.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Brockton, MA
- Founding
- 04/2019
- Data as of
- 06/2021
- EIN
- 83-1802913
Organization Overview
New Beginnings For Families Inc is located in Brockton, MA. The organization was established in 2019. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, 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 Beginnings For Families 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 06/2021, New Beginnings For Families Inc generated $205.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $235.4k during the year ending 06/2021. While expenses have increased by 8.3% per year over the past 4 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
NBFI IS DEDICATED TO ASSISTING FAMILIES AND THOSE IN NEED OF SHELTER OR HOUSING AND TO PROVIDE SERVICES TO THOSE IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NBFI IS DEDICATED TO ASSISTING FAMILIES AND THOSE IN NEED OF SHELTER OR HOUSING AND TO PROVIDE SERVICES TO THOSE IN NEED.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Payne President | OfficerTrustee | 1 | $0 |
Gerry Nadeau Treasurer | OfficerTrustee | 1 | $0 |
Eli Florence Clerk | OfficerTrustee | 1 | $0 |
Vincent Marturano President, CEO | Officer | 0.5 | $0 |
Kenneth Klier Executive Vp, COO | Officer | 0.5 | $0 |
Donna Desmond Executive Vp, CFO | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $204,996 |
| 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 | $204,996 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| 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 | $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 | $199 |
| Advertising and promotion | $0 |
| Office expenses | $11,028 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $89,942 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $78,565 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,408 |
| Insurance | $3,241 |
| All other expenses | $0 |
| Total functional expenses | $235,383 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,288 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,393,902 |
| Accounts payable and accrued expenses | $11,730 |
| 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 | $238,156 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,248,306 |
| Total liabilities | $1,498,192 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$104,290 |
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