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Nonprofiteer
← NEW AMERICANS COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by NEW AMERICANS COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$37,548
Total expenses
$226,468
Contributions and grants received
$1,655
Grants paid
$0
Program service revenue
$64,964
Investment income
-$29,071
Other revenue
$0
Total assets, end of year
$310,359
Total liabilities, end of year
$593,199
Net assets or fund balances, end of year
-$282,840
Program services expenses (Part IX)
$176,790
Management and general expenses
$49,678
Fundraising expenses
$0
Program service expenses (Part III)
$176,790

Program services were 78.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,655

  • 2a · Program service revenue: 16 SYCAMORE

    total $43,844 · excluded $43,844

  • 2b · Program service revenue: 18 SYCAMORE

    total $21,120 · excluded $21,120

  • 3 · Investment income

    total $2 · related or exempt $2

  • 7a · Gross sales of assets other than inventory

    securities $415,000

  • 7b · Less cost or other basis and sales expenses

    securities $444,073

  • 7c · Gain or loss

    securities -$29,073

  • 7d · Net gain or loss

    total -$29,073 · related or exempt -$29,073

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $58,508 · program services $25,867 · management and general $32,641

  • 16 · Occupancy

    total $7,508 · program services $7,508

  • 17 · Travel

    total $543 · management and general $543

  • 20 · Interest

    total $26,288 · program services $10,631 · management and general $15,657

  • 22 · Depreciation, depletion and amortization

    total $26,865 · program services $26,865

  • 23 · Insurance

    total $4,478 · program services $4,478

  • 24a · Other expenses: GRANT REIMBURSEMENT

    total $100,000 · program services $100,000

  • 24b · Other expenses: SUPPLIES

    total $1,024 · program services $1,024

  • 24c · Other expenses: TELEPHONE

    total $825 · management and general $825

  • 24d · Other expenses: OTHER EXPENSES

    total $168 · program services $168

  • 24e · All other expenses

    total $261 · program services $249 · management and general $12

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $73,839 · end of year $31,036

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,508 · end of year $11,374

  • 10a · Land, buildings and equipment: cost or other basis

    $303,513

  • 10b · Land, buildings and equipment: accumulated depreciation

    $35,564

  • 10c · Land, buildings and equipment, net

    beginning of year $731,585 · end of year $267,949

  • 19 · Deferred revenue

    beginning of year $2,456 · end of year $1,575

  • 25 · Other liabilities

    beginning of year $906,396 · end of year $591,624

  • 27 · Net assets without donor restrictions

    beginning of year -$93,920 · end of year -$282,840

Mission and programs · 2022

Mission

FORM 990 - ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIES TO PROVIDE COMMUNITY DEVELOPMENT PROGRAMS, PROJECTS AND ACTIVITIES THAT DEVELOP AND IMPROVE AREAS OF WORCESTER, MASSACHUSETTS INCLUDING CREATING AND EXPANDING ECONOMIC OPPORTUNITIES FOR LOW MODERATE INCOME RESIDENTS, SUCH AS JOB TRAINING, AND DEVELOPING AND PRESERVING AFFORDABLE HOUSING AND HOME OWNERSHIP OPPORTUNITIES IN THE AREA.

  • COMMUNITY DEVELOPMENT

    Expenses $176,790

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Robert Thomas

    PRESIDENT

    Total calculated
    $30,141
    From this org
    $30,141
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • George Cox

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Juan Gomez

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Frank Karthiser

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kristen King

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Robert Levite

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tania Romero

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Samuel Rosario

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Rev Clyde Talley

    CLERK

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey Torres

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
8 May 2024
IRS schema version
2022v5.0
Source object
202421359349309172

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