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Nonprofiteer
← NEW AMERICA CORPORATION

Form 990 for tax year 2024

Filed by NEW AMERICA CORPORATION.

Totals

Total revenue
$1,031,544
Total expenses
$608,516
Contributions and grants received
$609,833
Grants paid
$0
Program service revenue
$205,589
Investment income
$216,122
Other revenue
$0
Total assets, end of year
$7,979,069
Total liabilities, end of year
$1,976,801
Net assets or fund balances, end of year
$6,002,268
Program services expenses (Part IX)
$579,489
Management and general expenses
$29,027
Fundraising expenses
$0
Program service expenses (Part III)
$579,489

Program services were 95.2% 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.

  • 1e · Government grants (contributions)

    $608,620

  • 1f · All other contributions, gifts and grants

    $1,213

  • 2a · Program service revenue: HOUSING SERVICES

    total $185,570 · related or exempt $185,570

  • 2b · Program service revenue: INCOME FROM SUBSIDIARY

    total $13,890 · related or exempt $13,890

  • 2c · Program service revenue: BUSINESS SERVICES

    total $6,129 · related or exempt $6,129

  • 3 · Investment income

    total $195,654 · excluded $195,654

  • 7a · Gross sales of assets other than inventory

    securities $3,721,297

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

    securities $3,700,829

  • 7c · Gain or loss

    securities $20,468

  • 7d · Net gain or loss

    total $20,468 · excluded $20,468

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $36,000 · program services $32,000 · management and general $4,000

  • 10 · Payroll taxes

    total $2,754 · program services $2,448 · management and general $306

  • 11a · Fees: management

    total $22,100 · program services $22,100

  • 11b · Fees: legal

    total $224 · program services $224

  • 11c · Fees: accounting

    total $31,912 · program services $28,367 · management and general $3,545

  • 12 · Advertising and promotion

    total $7,336 · program services $7,336

  • 13 · Office expenses

    total $3,895 · management and general $3,895

  • 14 · Information technology

    total $13,072 · program services $12,073 · management and general $999

  • 16 · Occupancy

    total $10,051 · program services $2,798 · management and general $7,253

  • 19 · Conferences, conventions and meetings

    total $2,239 · management and general $2,239

  • 20 · Interest

    total $54,470 · program services $54,470

  • 22 · Depreciation, depletion and amortization

    total $32,441 · program services $32,441

  • 23 · Insurance

    total $13,991 · program services $10,774 · management and general $3,217

  • 24a · Other expenses: HOUSING SERVICES

    total $371,483 · program services $371,483

  • 24b · Other expenses: MISCELLANEOUS

    total $3,573 · management and general $3,573

  • 24c · Other expenses: EDUCATION SERVICES

    total $2,975 · program services $2,975

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $95,082 · end of year $1,388,212

  • 2 · Savings and temporary cash investments

    beginning of year $5,030,452 · end of year $4,160,864

  • 4 · Accounts receivable

    beginning of year $123,589 · end of year $37,145

  • 7 · Other notes and loans receivable

    beginning of year $654,819 · end of year $659,319

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,105 · end of year $10,946

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

    $1,384,901

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

    $170,312

  • 10c · Land, buildings and equipment, net

    beginning of year $1,328,527 · end of year $1,214,589

  • 15 · Other assets

    beginning of year $301,695 · end of year $507,994

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,597 · end of year $20,818

  • 24 · Unsecured notes and loans payable

    beginning of year $1,995,923 · end of year $1,946,121

  • 25 · Other liabilities

    beginning of year $9,711 · end of year $9,862

  • 27 · Net assets without donor restrictions

    beginning of year $4,250,720 · end of year $4,729,950

  • 28 · Net assets with donor restrictions

    beginning of year $1,272,318 · end of year $1,272,318

Mission and programs · 2024

Mission

NEW AMERICA IS COMMITTED TO IMPROVING THE LIVES OF LOW-INCOME AND UNDERSERVED INDIVIDUALS THROUGH EDUCATION, HOUSING, AND BUSINESS SERVICES.

Activities or mission (Part I)

NEW AMERICA IS COMMITTED TO IMPROVING THE LIVES OF LOW-INCOME AND UNDERSERVED INDIVIDUALS.

  • HOUSING SERVICES - NEW AMERICA CORPORATION PROVIDES HOUSING REPAIR, RENTAL, OWNERSHIP, RECOVERY AND DEVELOPMENT SERVICES FOR LOW INCOME AND UNDERSERVED INDIVIDUALS.

    Expenses $560,812 · Revenue $794,190

  • BUSINESS SERVICES - NEW AMERICA CORPORATION PROVIDES BUSINESS TRAINING, RENTAL, CAPITAL, AND DEVELOPMENT SERVICES FOR LOW INCOME AND UNDERSERVED INDIVIDUALS.

    Expenses $7,851 · Revenue $6,129

  • EDUCATION SERVICES - NEW AMERICA CORPORATION PROVIDES EDUCATIONAL SCHOLARSHIPS, CONTRIBUTIONS, AND TRAINING FOR LOW INCOME AND UNDERSERVED INDIVIDUALS.

    Expenses $10,826

As filed on the 2024 return.

Listed in Part VII

  • Emmie Hall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Keyonna Middleton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Evelyn Primus-Haye

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Adolphus Johnson

    PRESIDENT & CEO

    Total calculated
    $36,000
    From this org
    $0
    From related orgs
    $36,000
    Other
    $0
    Hours/week
    40

  • Kemeka Johnson

    SEC/TREAS

    Total calculated
    $0
    Hours/week
    1

  • Joseph McLeod

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

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.

  • NEW AMERICA PROPERTIES LLC

    501(C)(3) · HOUSING SERVICES · SC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • NEW AMERICA DEVELOPMENT LLC

    HOUSING SERVICES · SC

    Directly controlled by NEW AMERICA CORPORATION

  • NEW AMERICA CONSTRUCTION LLC

    HOUSING SERVICES · SC

    Directly controlled by NEW AMERICA CORPORATION

  • NEW AMERICA VENTURES LLC

    HOUSING SERVICES · SC

    Directly controlled by NEW AMERICA CORPORATION

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202503219349307650

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