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Nonprofiteer
← NEW NEIGHBORHOODS INC

Form 990 for tax year 2025

Filed by NEW NEIGHBORHOODS INC.

Totals

Total revenue
$10,411,926
Total expenses
$12,439,101
Contributions and grants received
$1,044,538
Grants paid
$0
Program service revenue
$8,833,967
Investment income
$464,657
Other revenue
$68,764
Total assets, end of year
$52,251,204
Total liabilities, end of year
$50,576,700
Net assets or fund balances, end of year
$1,674,504
Program services expenses (Part IX)
$9,590,105
Management and general expenses
$2,672,053
Fundraising expenses
$176,943
Program service expenses (Part III)
$9,590,105

Program services were 77.1% 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

    $1,044,538

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

    total $6,895,987 · related or exempt $6,895,987

  • 2b · Program service revenue: PAYROLL REIMBURSEMENTS

    total $2,945,271 · related or exempt $2,945,271

  • 2c · Program service revenue: MANAGEMENT FEES

    total $804,186 · related or exempt $804,186

  • 2d · Program service revenue: DEVELOPER FEE

    total $73,067 · related or exempt $73,067

  • 2e · Program service revenue: LOSS ON EQUITY INVESTMENT

    total -$1,884,544 · related or exempt -$1,884,544

  • 3 · Investment income

    total $451,386 · excluded $451,386

  • 7a · Gross sales of assets other than inventory

    other assets $13,271

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

    other assets $0

  • 7c · Gain or loss

    other assets $13,271

  • 7d · Net gain or loss

    total $13,271 · related or exempt $13,271

  • 11d · All other revenue

    total $68,764 · related or exempt $68,764

  • 11e · Other revenue, total

    $68,764

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,168,421 · management and general $1,168,421

  • 7 · Other salaries and wages

    total $4,090,116 · program services $3,801,773 · management and general $128,404 · fundraising $159,939

  • 11g · Fees: other

    total $173,897 · program services $151,220 · management and general $19,468 · fundraising $3,209

  • 13 · Office expenses

    total $110,140 · program services $57,453 · management and general $45,230 · fundraising $7,457

  • 14 · Information technology

    total $13,543 · program services $10,507 · management and general $2,606 · fundraising $430

  • 16 · Occupancy

    total $266,917 · program services $228,028 · management and general $33,386 · fundraising $5,503

  • 20 · Interest

    total $14,280 · program services $13 · management and general $14,267

  • 22 · Depreciation, depletion and amortization

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

  • 24a · Other expenses: RENTAL EXPENSES FOR LOW

    total $6,566,178 · program services $5,313,552 · management and general $1,252,626

  • 24b · Other expenses: PROPERTY EXPENSES

    total $17,678 · program services $17,678

  • 24e · All other expenses

    total $12,737 · program services $9,881 · management and general $2,451 · fundraising $405

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,442,839 · end of year $774,411

  • 2 · Savings and temporary cash investments

    beginning of year $12,375,599 · end of year $6,435,995

  • 4 · Accounts receivable

    beginning of year $3,368,338 · end of year $748,671

  • 9 · Prepaid expenses and deferred charges

    beginning of year $171,817 · end of year $188,605

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

    $37,708,460

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

    $15,397,572

  • 10c · Land, buildings and equipment, net

    beginning of year $16,670,551 · end of year $22,310,888

  • 11 · Investments: publicly traded securities

    beginning of year $1,133,024 · end of year $675,367

  • 14 · Intangible assets

    beginning of year $500,000

  • 15 · Other assets

    beginning of year -$178,569 · end of year $21,117,267

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,313,333 · end of year $1,137,931

  • 23 · Secured mortgages and notes payable

    beginning of year $30,686,476 · end of year $41,088,365

  • 25 · Other liabilities

    beginning of year $154,512 · end of year $8,350,404

  • 27 · Net assets without donor restrictions

    beginning of year $2,324,278 · end of year $1,273,240

  • 28 · Net assets with donor restrictions

    beginning of year $5,000 · end of year $401,264

Mission and programs · 2025

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 $5,390,338 · Revenue $5,011,443

  • 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 $4,199,767 · Revenue $3,904,559

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Peter Helmes

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Brendan Biggins

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Ben Thomas

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Anthony Stewart

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ron Corwin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ellen Tower

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Felisha Guirand-Fleurimond

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William J Healy II

    PRESIDENT/CEO

    Total calculated
    $391,177
    From this org
    $336,321
    From related orgs
    $0
    Other
    $54,856
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $321,321
    Bonus
    $15,000
    Other
    $0
    Deferred
    $25,632
    Nontaxable benefits
    $29,224
    Filer's total
    $391,177

  • Tom Lambert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bobbi Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sang Yu

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Long Chen

    CHIEF FINANCIAL OFFICER

    Total calculated
    $193,474
    From this org
    $171,937
    From related orgs
    $0
    Other
    $21,537
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,937
    Bonus
    $5,000
    Other
    $0
    Deferred
    $12,985
    Nontaxable benefits
    $8,552
    Filer's total
    $193,474

  • Jerome Floyd

    OPERATIONS DIRECTOR

    Total calculated
    $207,315
    From this org
    $192,750
    From related orgs
    $0
    Other
    $14,565
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,750
    Bonus
    $5,000
    Other
    $0
    Deferred
    $14,565
    Nontaxable benefits
    $0
    Filer's total
    $207,315

  • Jacquelin Ramos

    HUMAN RESOURCES DIRECTOR

    Total calculated
    $165,702
    From this org
    $145,994
    From related orgs
    $0
    Other
    $19,708
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,994
    Bonus
    $5,000
    Other
    $0
    Deferred
    $10,239
    Nontaxable benefits
    $9,469
    Filer's total
    $165,702

  • Gema Fernandez

    DEVELOPMENT SPECIALIST

    Total calculated
    $165,652
    From this org
    $116,571
    From related orgs
    $0
    Other
    $49,081
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,071
    Bonus
    $2,500
    Other
    $0
    Deferred
    $8,669
    Nontaxable benefits
    $40,412
    Filer's total
    $165,652

  • Philip Sfraga

    PROPERTY MANAGER

    Total calculated
    $142,557
    From this org
    $103,726
    From related orgs
    $0
    Other
    $38,831
    Hours/week
    40

  • Osaid Zubi

    FINANCE MANAGER

    Total calculated
    $116,733
    From this org
    $101,123
    From related orgs
    $0
    Other
    $15,610
    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

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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 $155,280 · assets $12,284,929

    Directly controlled by NEW NEIGHBORHOODS INC

  • PARK CITY SUPPORTIVE HOUSING LLC

    PROVIDING LOW-INCOME HOUSING · CT · income -$489,238 · assets $9,411,888

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNI AMSTON VILLAGE LLC

    PROVIDING LOW-INCOME HOUSING · CT · income -$100,948 · assets $977,785

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNI GATEWAY APARTMENTS LLC

    PROVIDING LOW-INCOME HOUSING · CT · income -$96,837 · assets $869,255

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNI MILESTONE APARTMENTS LLC

    PROVIDING LOW-INCOME HOUSING · CT · income -$35,998 · assets $1,096,549

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNI LIBERTY COMMONS LLC

    PROVIDING LOW-INCOME HOUSING · CT · income $40,744 · assets $249,946

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNI PEMBROKE COMMONS LLC

    PROVIDING LOW-INCOME HOUSING · CT · income -$54,845 · assets $175,887

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNI REDSTONE APARTMENTS LLC

    PROVIDING LOW-INCOME HOUSING · CT · income $1,451 · assets $274,324

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNI SANDSTONE APARTMENTS LLC

    PROVIDING LOW-INCOME HOUSING · CT · income $18,777 · assets $256,548

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNI SEAVIEW HOUSE LLC

    PROVIDING LOW-INCOME HOUSING · CT · income -$660 · assets $43,432

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNI ST ELIZABETH MANOR LLC

    PROVIDING LOW-INCOME HOUSING · CT · income -$112,660 · assets $6,884,487

    Directly controlled by NEW NEIGHBORHOODS INC

  • VICTORY GARDENS MM LLC

    PROVIDING LOW-INCOME HOUSING · CT · income -$67 · assets $2,126

    Directly controlled by NEW NEIGHBORHOODS 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 · 51% owned · share of income -$61,999 · share of assets $815,144 · general or managing partner

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNI BELL STREET LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 99.99% owned · share of income -$329,222 · share of assets $3,236,554 · general or managing partner

    Directly controlled by ATLANTIC STREET DEVELOPMENT CORPORATION

  • NNI STILLWATER LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 99.99% owned · share of income -$25,644 · share of assets $1,553,714 · general or managing partner

    Directly controlled by STILLWATER DEVELOPMENT CORPORATION

  • SAMUELS COURT LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 99.99% owned · share of income -$355,078 · share of assets $4,628,072 · general or managing partner

    Directly controlled by NNIARC SAMUELS COURT LLC

  • FRIENDSHIP HOUSE APARTMENTS LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 0.01% owned · general or managing partner

    Directly controlled by NNIMHA FRIENDSHIP INC

  • FAIR STREET APARTMENTS LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 99.99% owned · share of income -$87,001 · share of assets $10,398,623 · general or managing partner

    Directly controlled by NNI FAIR STREET INC

  • MARSHALL COMMONS LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 0.01% owned · general or managing partner

    Directly controlled by NNI MARSHALL INC

  • INDIAN FIELD LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 0.01% owned · general or managing partner

    Directly controlled by NNI INDIAN FIELD

  • VICTORY GARDENS HOUSING LLC

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 0.01% owned · general or managing partner

    Directly controlled by NNI VICTORY GARDENS HOUSING LLC

  • PARK CITY LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 0.01% owned · share of income -$735,384 · share of assets $9,917,386 · general or managing partner

    Directly controlled by PARK CITY HOUSING LP CORPORATION

  • DOWNTOWN WEST GATE APARTMENTS LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 0.01% owned · general or managing partner

    Directly controlled by DOWNTOWN WEST LLC

  • DOWNTOWN WEST LLC

    RELATED · OWNERSHIP OF GENERAL PARTNER OF A LIHTC PROPERTY · CT · 100% owned · share of income -$63 · share of assets $926 · general or managing partner

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNI HORIZON VIEW LLC

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 0.01% owned · general or managing partner

    Directly controlled by HORIZON VIEW LLC

  • HORIZON VIEW LLC

    RELATED · OWNERSHIP OF GENERAL PARTNER OF A LIHTC PROPERTY · CT · 20% owned · general or managing partner

    Directly controlled by NEW NEIGHBORHOODS INC

  • ST ELIZABETH MANOR LIMITED PARTNERSHIP

    RELATED · PROVIDING LOW-INCOME HOUSING · CT · 80% owned · general or managing partner

    Directly controlled by NNI ST ELIZABETH MANOR LLC

  • NEW NEIGHBORHOODS PROPERTY MANAGEMENT LLC

    RELATED · THIRD-PARTY PROPERTY MANAGEMENT · CT · 49% owned · general or managing partner

    Directly controlled by NEW NEIGHBORHOODS INC

Related corporations and trusts

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

  • NNI FAIR STREET INC

    C · PROVIDING LOW INCOME HOUSING · CT · 100% owned · share of income -$9 · share of assets $1,040

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNIARC SAMUELS COURT LLC

    C · PROVIDING LOW INCOME HOUSING · CT · 100% owned · share of income -$36 · share of assets $469

    Directly controlled by NEW NEIGHBORHOODS INC

  • STILLWATER DEVELOPMENT CORPORATION

    C · PROVIDING LOW INCOME HOUSING · CT · 100% owned · share of income -$26 · share of assets $154

    Directly controlled by NEW NEIGHBORHOODS INC

  • ATLANTIC ST DEVELOPMENT CORPORATION

    C · PROVIDING LOW INCOME HOUSING · CT · 100% owned · share of income -$33 · share of assets $323

    Directly controlled by NEW NEIGHBORHOODS INC

  • NNI MARSHALL INC

    C · PROVIDING LOW-INCOME HOUSING · CT · 100% owned · share of income -$14 · share of assets $1,713

    Directly controlled by NEW NEIGHBORHOODS INC

  • ATLANTIC CONDO ASSOCIATION INC

    C · MANAGEMENT OF LOW-INCOME HOUSING · CT · 85.35% owned

    Directly controlled by NEW NEIGHBORHOODS INC

  • PARK CITY CONDO ASSOCIATION INC

    C · MANAGEMENT OF LOW-INCOME HOUSING · CT · 100% owned

    Directly controlled by NEW NEIGHBORHOODS INC

  • PARK CITY HOUSING LP CORPORATION

    C · PROVIDING LOW INCOME HOUSING · CT · 100% owned · share of income -$74 · share of assets $992

    Directly controlled by NEW NEIGHBORHOODS INC

Provenance

Return type
form_990
Tax year
2025
Filed
30 July 2026
IRS schema version
2025v4.2
Source object
202642129349300409

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