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Nonprofiteer
← NEW NEIGHBORHOODS INC

Form 990 for tax year 2024

Filed by NEW NEIGHBORHOODS INC.

Totals

Total revenue
$11,120,076
Total expenses
$11,232,153
Contributions and grants received
$910,039
Grants paid
$0
Program service revenue
$9,450,920
Investment income
$759,117
Other revenue
$0
Total assets, end of year
$35,483,599
Total liabilities, end of year
$33,154,321
Net assets or fund balances, end of year
$2,329,278
Program services expenses (Part IX)
$9,242,222
Management and general expenses
$1,845,838
Fundraising expenses
$144,093
Program service expenses (Part III)
$9,242,222

Program services were 82.3% 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.

  • 1c · Fundraising events

    $31,375

  • 1d · Related organizations

    $114,953

  • 1f · All other contributions, gifts and grants

    $763,711

  • 2a · Program service revenue: RENTAL REVENUE FROM LOW INCOME HO

    total $6,355,057 · related or exempt $6,355,057

  • 2b · Program service revenue: PAYROLL REIMBURSEMENTS

    total $2,396,842 · related or exempt $2,396,842

  • 2c · Program service revenue: MANAGEMENT FEES

    total $699,021 · related or exempt $699,021

  • 3 · Investment income

    total $759,117 · related or exempt $759,117

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $31,375

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $333,963 · program services $197,038 · management and general $126,906 · fundraising $10,019

  • 7 · Other salaries and wages

    total $3,143,327 · program services $1,854,563 · management and general $1,194,464 · fundraising $94,300

  • 8 · Pension plan contributions

    total $191,214 · program services $112,817 · management and general $72,661 · fundraising $5,736

  • 9 · Other employee benefits

    total $600,342 · program services $354,202 · management and general $228,130 · fundraising $18,010

  • 10 · Payroll taxes

    total $72,192 · program services $42,232 · management and general $27,433 · fundraising $2,527

  • 11a · Fees: management

    total $18,475 · management and general $18,475

  • 11b · Fees: legal

    total $41,564 · management and general $41,564

  • 11c · Fees: accounting

    total $44,400 · program services $29,970 · management and general $13,320 · fundraising $1,110

  • 12 · Advertising and promotion

    total $639 · management and general $639

  • 13 · Office expenses

    total $93,438 · program services $63,071 · management and general $28,032 · fundraising $2,335

  • 14 · Information technology

    total $28,684 · program services $19,218 · management and general $8,605 · fundraising $861

  • 16 · Occupancy

    total $117,240 · program services $77,378 · management and general $35,172 · fundraising $4,690

  • 20 · Interest

    total $23,668 · program services $16,094 · management and general $5,207 · fundraising $2,367

  • 22 · Depreciation, depletion and amortization

    total $5,194 · management and general $5,194

  • 24a · Other expenses: RENTAL EXPENSES FOR LOW

    total $6,502,100 · program services $6,465,639 · management and general $34,323 · fundraising $2,138

  • 24b · Other expenses: DEVELOPMENT

    total $10,000 · program services $10,000

  • 24e · All other expenses

    total $5,713 · management and general $5,713

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $696,263 · end of year $1,442,839

  • 2 · Savings and temporary cash investments

    beginning of year $6,897,661 · end of year $12,375,599

  • 4 · Accounts receivable

    beginning of year $3,856,322 · end of year $3,368,338

  • 9 · Prepaid expenses and deferred charges

    beginning of year $142,077 · end of year $171,817

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

    $27,191,295

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

    $10,520,744

  • 10c · Land, buildings and equipment, net

    beginning of year $16,201,147 · end of year $16,670,551

  • 11 · Investments: publicly traded securities

    beginning of year $5,393,446 · end of year $1,133,024

  • 14 · Intangible assets

    beginning of year $500,000 · end of year $500,000

  • 15 · Other assets

    beginning of year $690,675 · end of year -$178,569

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,334,452 · end of year $2,313,333

  • 23 · Secured mortgages and notes payable

    beginning of year $30,512,084 · end of year $30,686,476

  • 25 · Other liabilities

    beginning of year $89,700 · end of year $154,512

  • 27 · Net assets without donor restrictions

    beginning of year $2,436,355 · end of year $2,324,278

  • 28 · Net assets with donor restrictions

    beginning of year $5,000 · end of year $5,000

Mission and programs · 2024

Mission

NEW NEIGHBORHOODS, INC.'S PURPOSE IS TO DEVELOP, REDEVELOP, OWN AND MANAGE QUALITY HOUSING FOR LOW AND MODERATE INCOME PERSONS AND FAMILIES AND TO WORK TO ASSIST IN THE PLANNING, RE-PLANNING, DEVELOPMENT AND IMPROVEMENT OF LOW AND MODERATE INCOME COMMUNITIES IN CONNECTICUT, WITH A FOCUS ON LOW FAIRFIELD COUNTY.

Activities or mission (Part I)

NEW NEIGHBORHOODS, INC.'S PURPOSE IS TO DEVELOP, REDEVELOP, OWN AND MANAGE QUALITY HOUSING FOR LOW AND MODERATE INCOME PERSONS AND FAMILIES AND TO WORK TO ASSIST IN THE PLANNING, RE-PLANNING, DEVELOPMENT AND IMPROVEMENT OF LOW AND MODERATE INCOME COMMUNITIES IN CONNECTICUT, WITH A FOCUS ON LOWER FAIRFIELD COUNTY.

  • NEW NEIGHBORHOODS IS AN OWNER OF SEVERAL REAL ESTATE COMPANIES AND PARTNERSHIPS WHICH OWN OVER 440 UNITS WHICH ARE RENTED TO LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES, WHICH INCLUDE SUPPORTIVE, VETERAN AND SENIOR UNITS IN STAMFORD, NORWALK AND DANBURY, CT.

    Expenses $6,502,740 · Revenue $6,614,484

  • NEW NEIGHBORHOODS, INC. PROVIDES SERVICES THAT FOCUSES ON MAXIMIZING RETURN AND PROPERTY VALUE AND THE DAY TO DAY MANAGEMENT ACTIVITIES OF THE DIFFERENT PROJECTS UNDER THEIR CONTROL.

    Expenses $2,739,482 · Revenue $3,095,863

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

Listed in Part VII

  • Robert O'Brien

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Kevin George

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ronald Corwin

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Phil Swan

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ellen Tower

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ben Thomas

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Felisha Guirand-Fleurimond

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • William J Healy II

    PRESIDENT/CEO

    Total calculated
    $378,453
    From this org
    $333,963
    From related orgs
    $0
    Other
    $44,490
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $298,963
    Bonus
    $35,000
    Other
    $0
    Deferred
    $30,500
    Nontaxable benefits
    $13,990
    Filer's total
    $378,453

  • Tom Lambert

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Anthony Stewart

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Bobbi Brown

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sang Yu

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Peter Helmes

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Brendan Biggins

    TREASURER/FINANCE COMMITTE

    Total calculated
    $0
    Hours/week
    2

  • Long Chen

    FINANCIAL DIRECTOR

    Total calculated
    $175,044
    From this org
    $162,078
    From related orgs
    $0
    Other
    $12,966
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,578
    Bonus
    $7,500
    Other
    $0
    Deferred
    $12,966
    Nontaxable benefits
    $0
    Filer's total
    $175,044

  • Jerome Floyd

    OPERATIONS DIRECTOR

    Total calculated
    $193,168
    From this org
    $182,234
    From related orgs
    $0
    Other
    $10,934
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,734
    Bonus
    $7,500
    Other
    $0
    Deferred
    $10,934
    Nontaxable benefits
    $0
    Filer's total
    $193,168

  • Jacquelin Ramos

    HUMAN RESOURCES DIRECTOR

    Total calculated
    $149,340
    From this org
    $138,278
    From related orgs
    $0
    Other
    $11,062
    Hours/week
    40

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

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.

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.

  • MARTIN LUTHER KING JR APARTMENTS LLC

    PROVIDING LOW-INCOME HOUSING · CT · income $3,312,216 · assets $12,497,143

    Directly controlled by NEW NEIGHBORHOOS INC

  • PARK CITY SUPPORTIVE HOUSING LLC

    PROVIDING LOW-INCOME HOUSING · CT · income $815,300 · assets $9,610,960

    Directly controlled by NEW NEIGHBORHOOS INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • NHSNNI MISSION TAYLOR LLC

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 50% owned · share of income $25,362 · share of assets $860,865 · general or managing partner

  • NNI BELL STREET LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 99.99% owned · share of income $593,526 · share of assets $3,248,889

    Directly controlled by ATLANTIC STREET DEVELOPMENT CORPORATION

  • NNI STILLWATER LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 99.99% owned · share of income $33 · share of assets $246

    Directly controlled by STILLWATER DEVELOPMENT CORPORATION

  • SAMUELS COURT LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 0.51% owned · share of income $63 · share of assets $491

    Directly controlled by NNIARC SAMUELS COURT LLC

  • FRIENDSHIP HOUSE APARTMENTS LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 0.5% owned · share of income $165 · share of assets $921

    Directly controlled by NNIMHA FRIENDSHIP INC

  • FAIR STREET APARTMENTS LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 1% owned · share of income $143 · share of assets $1,035

    Directly controlled by NNI FAIR STREET INC

  • MARSHALL COMMONS LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 1% owned · share of income $120 · share of assets $1,735

    Directly controlled by NNI MARSHALL INC

  • INDIAN FIELD CORPORATION

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 1% owned · share of income $29 · share of assets $273

    Directly controlled by NNI INDIAN FIELD

  • VICTORY GARDENS HOUSING LLC

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 1% owned · share of income $129 · share of assets $2,187

    Directly controlled by NNI VICTORY GARDENS HOUSING LLC

  • PARK CITY LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 0.5% owned · share of income $44 · share of assets $527

    Directly controlled by PARK CITY HOUSING CORP

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • NNI FAIR STREET INC

    C · PROVIDING LOW INCOME HOUSING · CT · 50% owned · share of income $143 · share of assets $1,035

  • NNIARC SAMUELS COURT LLC

    C · PROVIDING LOW INCOME HOUSING · CT · 100% owned · share of income $32 · share of assets $250

  • NNI FAIR STREET INC

    C · PROVIDING LOW INCOME HOUSING · CT · 100% owned · share of income $143 · share of assets $1,035

  • STILLWATER DEVELOPMENT CORPORATION

    C · PROVIDING LOW INCOME HOUSING · CT · 100% owned · share of income $33 · share of assets $246

  • ATLANTIC ST DEVELOPMENT CORPORATION

    C · PROVIDING LOW INCOME HOUSING · CT · 100% owned · share of income $593,526 · share of assets $3,248,889

  • NNI MARSHALL INC

    C · PROVIDING LOW-INCOME HOUSING · CT · 100% owned · share of income $120 · share of assets $1,735

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202513189349303741

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