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Nonprofiteer
← NEW AMERICANS COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by NEW AMERICANS COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$603,262
Total expenses
$45,627
Contributions and grants received
$602,679
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$583
Total assets, end of year
$41,990
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$41,990
Program services expenses (Part IX)
$0
Management and general expenses
$45,627
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 1d · Related organizations

    $602,679

  • 11d · All other revenue

    total $583 · excluded $583

  • 11e · Other revenue, total

    $583

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $41,292 · management and general $41,292

  • 17 · Travel

    total $2,130 · management and general $2,130

  • 19 · Conferences, conventions and meetings

    total $161 · management and general $161

  • 22 · Depreciation, depletion and amortization

    total $290 · management and general $290

  • 23 · Insurance

    total $1,720 · management and general $1,720

  • 24a · Other expenses: DUES AND FEES

    total $34 · management and general $34

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,431 · end of year $4,803

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,720 · end of year $0

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

    $40,080

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

    $2,893

  • 10c · Land, buildings and equipment, net

    beginning of year $54,216 · end of year $37,187

  • 25 · Other liabilities

    beginning of year $231,558 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$171,191 · end of year $41,990

Mission and programs · 2024

Mission

THE NEW AMERICANS COMMUNITY DEVELOPMENT CORPORATION (NACDC) INTENDS TO UNDERTAKE COMMUNITY RE-DEVELOPMENT, RENOVATION PROJECTS AND ACTIVITIES THAT REVITALIZE AN "ECONOMIC DESERT AREA" WITHIN WORCESTER. OUR INTENTIONS ALSO INCLUDE CREATION AND EXPANSION OF ECONOMIC ACTIVITIES FOR ALL RESIDENTS OF THE AREA WITH SPECIAL EMPHASIS ON THE DISENFRANCHISED, LOW AND MODERATE INCOME POPULATION. WE WILL PRESERVE AND DEVELOP HOUSING, FACILITATE HOME OWNERSHIP, BUSINESS OPPORTUNITIES AND CAREER TRAINING LADDERS IN THE "MAIN MIDDLE" AREA AND ITS IMMEDIATE SURROUNDING NEIGHBORHOODS.

  •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

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DR JUAN A GOMEZ

    PRESIDENT & CEO (THRU 02/25)

    Total calculated
    $152,981
    From this org
    $0
    From related orgs
    $128,654
    Other
    $24,327
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $128,654 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $24,327 related
    Filer's total
    $0 + $152,981 related

  • SAMUEL ROSARIO

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • KRISTEN A KING

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • ATTY GORDY DANILES

    SECRETARY & CLERK (FROM 12/24)

    Total calculated
    $0
    Hours/week
    1

  • GEORGE COX

    DIRECTOR (THRU 12/24)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • HECTOR GOMEZ

    DIRECTOR (FROM 12/24)

    Total calculated
    $0
    Hours/week
    1

  • FRANK KARTHEISER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • REV CLYDE TALLY

    DIRECTOR (THRU 12/24)

    Total calculated
    $0
    Hours/week
    1

  • JEFFREY TORRES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AUGUSTINA VELAZQUEZ

    PRESIDENT & CEO (FROM 09/24)

    Total calculated
    $146,028
    From this org
    $0
    From related orgs
    $119,616
    Other
    $26,412
    Hours/week
    2 + 38 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
CENTRO LAS AMERICAS, INC., A RELATED ORGANIZATION OF NEW AMERICANS COMMUNITY DEVELOPMENT CORPORATION USED THE FOLLOW METHODS TO ESTABLISH THE COMPENSATION OF THE PRESIDENT/CEO. - WRITTEN EMPLOYMENT CONTRACT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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
2024
Filed
29 January 2026
IRS schema version
2024v5.5
Source object
202630309349300333

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