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Nonprofiteer
← NEW OPPORTUNITIES ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by NEW OPPORTUNITIES ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$0
Total expenses
$46,176
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$997,547
Total liabilities, end of year
$1,205,960
Net assets or fund balances, end of year
-$208,413
Program services expenses (Part IX)
$46,176
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$46,176

Program services were 100.0% 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.

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $1,240 · program services $1,240

  • 11c · Fees: accounting

    total $2,200 · program services $2,200

  • 13 · Office expenses

    total $249 · program services $249

  • 16 · Occupancy

    total $28,522 · program services $28,522

  • 23 · Insurance

    total $13,965 · program services $13,965

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year -$1

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,174 · end of year $6,743

  • 15 · Other assets

    beginning of year $990,804 · end of year $990,804

  • 25 · Other liabilities

    beginning of year $1,156,215 · end of year $1,205,960

  • 27 · Net assets without donor restrictions

    beginning of year -$162,238 · end of year -$208,413

Mission and programs · 2024

Mission

TO ENGAGE IN ECONOMIC DEVELOPMENT IN GEOGRAPHIC AREAS THAT ARE ECONOMICALLY DEPRIVED OR DETERIORATING WITHIN THE STATE OF CONNECTICUT

Activities or mission (Part I)

TO ENGAGE IN ECONOMIC DEVELOPMENT IN GEOGRAPHIC AREAS THAT ARE ECONOMICALLY DEPRIVED OR DETERIORATING WITHIN THE STATE OF CONNECTICUT.

  • NEW OPPORTUNITIES ECONOMIC DEVELOPMENT CORPORATION PROMOTES AND THROUGHOUT CONNECTICUT THROUGH THE ACQUISITION AND REVITALIZATION OF PROPERTIES, THE DEVELOPMENT OF HOUSING AND THE CREATION OF SUSTAINABLE ECONOMIC AND COMMERCIAL DEVELOPMENT OPPORTUNITIES THAT RAISE THE INCOME, EDUCATIONAL/SKILL LEVELS AND COMMUNITY INVOLVEMENT OF CONNECTICUT RESIDENTS.

    Expenses $46,176

As filed on the 2024 return.

Listed in Part VII

  • Melissa Green

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.75 + 0.25 related

  • Belinda Weaver

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.75 + 0.25 related

  • Victor Lopez

    TREASURER

    Total calculated
    $0
    Hours/week
    0.75 + 0.25 related

  • Maritza Rivera

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.75 + 0.25 related

  • William Rybczyk

    PRESIDENT (FORMER)

    Total calculated
    $268,569
    From this org
    $0
    From related orgs
    $257,168
    Other
    $11,401
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $257,168 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $11,401 related
    Filer's total
    $0 + $268,569 related

  • Mark E Kovitch

    CHIEF FINANCIAL OFFICER

    Total calculated
    $186,714
    From this org
    $0
    From related orgs
    $157,370
    Other
    $29,344
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $157,370 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $29,344 related
    Filer's total
    $0 + $186,714 related

  • Omar Andujor

    CHIEF ADMINISTRATIVE OFFIC

    Total calculated
    $157,982
    From this org
    $0
    From related orgs
    $157,293
    Other
    $689
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $157,293 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $689 related
    Filer's total
    $0 + $157,982 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

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.

  • NEW OPPORTUNITIES INC

    501(C)(3) · TO IMPROVE LIVES OF ECONOMICALLY DISADVANTAGED INDIVIDUALS · CT

  • NORTH SQUARE GATEWAY TERRACE INC

    501(C)(3) · TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME FAMILIES · CT

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.

Related partnerships

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

  • CAMELOT LIMITED PARTNERSHIP

    N/A · REAL ESTATE RENTAL · CT

Related corporations and trusts

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

  • CAMELOT CENTER INC

    C · REAL ESTATE RENTAL · CT

  • COMMUNITY WIDE INVESTMENTS CORP

    C · INACTIVE · CT

  • NORTH SQUARE GATEWAY DEVELOPMENT INC

    C · INACTIVE · CT

Provenance

Return type
form_990
Tax year
2024
Filed
15 September 2026
IRS schema version
2024v5.5
Source object
202612589349302111

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