Form 990 for tax year 2022

Filed by NEW COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue: $3,302,380
Total expenses: $2,301,571
Contributions and grants received: $629,820
Grants paid: $0
Program service revenue: $1,767,670
Investment income: $1,030
Other revenue: $903,860
Total assets, end of year: $11,220,340
Total liabilities, end of year: $4,461,697
Net assets or fund balances, end of year: $6,758,643
Program services expenses (Part IX): $2,060,782
Management and general expenses: $209,375
Fundraising expenses: $31,414
Program service expenses (Part III): $2,060,782

Program services were 89.5% 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)

$343,405
1f · All other contributions, gifts and grants

$286,415
1g · Noncash contributions included above

$3,600
2a · Program service revenue: RENTS

total $1,767,670 · related or exempt $1,767,670
3 · Investment income

total $1,030 · excluded $1,030
10a · Gross sales of inventory

$440,000
10b · Cost of goods sold

$475,817
10c · Net income from sales of inventory

total -$35,817 · related or exempt -$35,817
11a · Other revenue: MISCELLANEOUS

total $39,032 · related or exempt $39,032
11b · Other revenue: DEBT EXTINGUISHMENT

total $900,645 · related or exempt $900,645
11e · Other revenue, total

$939,677

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $178,837 · program services $56,900 · management and general $103,630 · fundraising $18,307
7 · Other salaries and wages

total $117,263 · program services $95,221 · management and general $20,969 · fundraising $1,073
9 · Other employee benefits

total $15,573 · program services $12,645 · management and general $2,785 · fundraising $143
10 · Payroll taxes

total $23,580 · program services $19,147 · management and general $4,217 · fundraising $216
11a · Fees: management

total $133,855 · program services $133,855
11b · Fees: legal

total $14,513 · program services $11,666 · management and general $2,484 · fundraising $363
11c · Fees: accounting

total $120,412 · program services $79,238 · management and general $35,926 · fundraising $5,248
11e · Fees: professional fundraising services

total $1,414 · fundraising $1,414
12 · Advertising and promotion

total $9,896 · program services $9,722 · management and general $152 · fundraising $22
13 · Office expenses

total $16,972 · program services $9,505 · management and general $6,555 · fundraising $912
14 · Information technology

total $11,451 · program services $6,532 · management and general $4,292 · fundraising $627
16 · Occupancy

total $349,571 · program services $336,006 · management and general $12,635 · fundraising $930
17 · Travel

total $2,134 · program services $1,217 · management and general $800 · fundraising $117
19 · Conferences, conventions and meetings

total $17,478 · program services $9,970 · management and general $6,551 · fundraising $957
20 · Interest

total $142 · program services $81 · management and general $53 · fundraising $8
22 · Depreciation, depletion and amortization

total $163,251 · program services $159,208 · management and general $3,528 · fundraising $515
23 · Insurance

total $14,061 · program services $8,931 · management and general $4,597 · fundraising $533
24a · Other expenses: LOSS ON DISPOSAL

total $4,072 · program services $4,072
24b · Other expenses: HOLDING REPAIRS AND MAINT

total $1,072,145 · program services $1,072,145
24c · Other expenses: MISCELLANEOUS

total $1,130 · program services $900 · management and general $201 · fundraising $29
24d · Other expenses: INSURANCE LOSS

total $33,578 · program services $33,578
24e · All other expenses

total $243 · program services $243

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,096,697 · end of year $1,736,529
2 · Savings and temporary cash investments

beginning of year $46,385 · end of year $49,435
4 · Accounts receivable

beginning of year $24,273 · end of year $74,319
7 · Other notes and loans receivable

beginning of year $918,023 · end of year $652,765
8 · Inventories for sale or use

beginning of year $470,895 · end of year $1,023,011
9 · Prepaid expenses and deferred charges

beginning of year $10,937 · end of year $10,085
10a · Land, buildings and equipment: cost or other basis

$7,272,770
10b · Land, buildings and equipment: accumulated depreciation

$1,564,743
10c · Land, buildings and equipment, net

beginning of year $5,083,878 · end of year $5,708,027
13 · Investments: program-related

beginning of year $1,990,112 · end of year $1,966,169
17 · Accounts payable and accrued expenses

beginning of year $188,424 · end of year $225,879
19 · Deferred revenue

beginning of year $336,511 · end of year $479,045
21 · Escrow or custodial account liability

beginning of year $76,411 · end of year $93,768
23 · Secured mortgages and notes payable

beginning of year $3,258,076 · end of year $3,663,005
27 · Net assets without donor restrictions

beginning of year $5,527,117 · end of year $6,723,643
28 · Net assets with donor restrictions

beginning of year $254,661 · end of year $35,000

Mission and programs · 2022

Mission

PROVIDES SAFE, AFFORDABLE AND QUALITY HOUSING FOR LOW AND MODERATE INCOME FAMILIES IN DOUGLAS & SARPY NE, & POTTAWATTAMIE COUNTY IA, WITH AN EMPHASIS IN OMAHA/COUNCIL BLUFFS METROPOLITAN AREA.

IN ITS EFFORTS TO PROVIDE SAFE, AFFORDABLE AND HIGH QUALITY HOUSING TO LOW AND MODERATE INCOME FAMILIES, THE ORGANIZATION HAD A DRAMATIC IMPACT ON THE LOCAL COMMUNITY. THE ORGANIZATION PLACED 1 NEW HOME OWNER IN AN ENERGRY EFFICIENT QUALITY HOME WITH 6 UNDER CONSTRUCTION. THE INFIL PROGRAM HELPS BRIDGE THE AFFORDABILITY GAP WITH DOWN PAYMENTS ASSISTANCE FOR QUALIFIED BUYES OF THE NEWLY CONSTRUCTED HOMES WHILE INCREASING THE TAX BASE OF THE AREAS THE HOMES ARE BUILT. THE ORGANIZATION ALSO OPERATED 360 RENTAL UNITS WITH A FOCUS ON THOSE WHO ARE LOW TO MODERATE INCOME.

Expenses $2,060,782 · Revenue $2,671,530

As filed on the 2022 return.

Listed in Part VII

Leslie ColemanLESLIE COLEMAN

CHIEF EXECUTIVE OFFICER

Total calculated

$91,543

From this org

$80,853

From related orgs

$0

Other

$10,690

Hours/week

40
David HazlewoodDAVID HAZLEWOOD

CHIEF OPERATING OFFICER

Total calculated

$85,817

From this org

$74,130

From related orgs

$0

Other

$11,687

Hours/week

40
Karen AndersonKAREN ANDERSON

BOARD MEMBER

Total calculated

$0

Hours/week

1
Ruy AcevedoRUY ACEVEDO

BOARD MEMBER

Total calculated

$0

Hours/week

1
Teresa HunterTERESA HUNTER

BOARD MEMBER

Total calculated

$0

Hours/week

1
Tim GermanTIM GERMAN

BOARD MEMBER

Total calculated

$0

Hours/week

1
M John KilnoskiM JOHN KILNOSKI

SECRETARY

Total calculated

$0

Hours/week

1
Ernest WhiteERNEST WHITE

TREASURER

Total calculated

$0

Hours/week

1
Joshua BerryJOSHUA BERRY

BOARD PRESIDENT

Total calculated

$0

Hours/week

1
Lara HuskeyLARA HUSKEY

VICE PRESIDENT

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.

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.

BURLINGTON SQUARE II LLC

RESIDENTIAL RENT · NE · income $110,906 · assets $1,014,624

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION
ORCHARD MANOR II LLC

RESIDENTAL RENT · NE · income -$40,967 · assets $1,557,170

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION
TWENTIETH PLACE LLC

RESIDENTIAL RENT · NE · income -$5,167 · assets $561,920

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION
MEREDITH MANOR 2 LLC

RESIDENTIAL RENT · NE · income $72,103 · assets $611,119

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION
FULLWOOD SQUARE I LLC

RESIDENTIAL RENTS · NE · income -$25,081 · assets $1,091,099

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION

Related partnerships

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

BURLINGTON SQUARE LTD PARTNERSHIP

RESIDENTIAL RENTS · NE
ORCHARD MANOR LTD PARTNERSHIP

RESIDENTIAL RENTS · NE
TWENTIETH PLACE LTD PARTNERSHIP

RESIDENTIAL RENTS · NE
MEREDITH MANOR LTD PARTNERSHIP

RESIDENTIAL RENTS · NE
VILLAGE PLACE 1 LTD PARTNERSHIP

Related · RESIDENTIAL RENTS · NE · 99.99% owned · share of income $657,269 · share of assets $1,181,475

Directly controlled by VILLAGE PLACE CORPORATION
SALEM VILLAGE II LTD PARTNERSHIP

RESIDENTIAL RENTS · NE
BEACON PLACE LTD PARTNERSHIP

RESIDENTIAL RENTS · IA

Related corporations and trusts

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

BURLINGTON SQUARE CORPORATION

C Corp · RESIDENTIAL RENTS · NE · 100% owned · share of income $13 · share of assets -$12 · controlled entity

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION
ORCHARD MANOR CORPORATION

C Corp · RESIDENTIAL RENTS · NE · 100% owned · share of income $6 · share of assets -$272 · controlled entity

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORTION
TWENTIETH PLACE CORPORATION

C Corp · RESIDENTIAL RENTS · NE · 100% owned · share of income -$1 · share of assets $19 · controlled entity

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION
MEREDITH MANOR CORPORATION

C Corp · RESIDENTIAL RENTS · NE · 100% owned · share of income $7 · share of assets $40 · controlled entity

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION
VILLAGE PLACE CORPORATION

C Corp · RESIDENTIAL RENTS · NE · 100% owned · share of income $67 · share of assets -$478 · controlled entity

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION
SALEM VILLAGE II DEVELOPMENT LLC

C Corp · RESIDENTIAL RENTS · NE · 100% owned · share of income -$24 · share of assets $324 · controlled entity

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION
BEACON PLACE DEVELOPMENT LLC

S Corp · RESIDENTIAL RENTS · IA · share of income -$25 · share of assets $476 · controlled entity

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION
GRACE PLAZA PARTNERS INC

S Corp · RESIENTIAL RENTS · NE · 100% owned · share of income $27,975 · share of assets $545,696 · controlled entity

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION
CLARK PLACE PARTNERS INC

S Corp · RESIDENTIAL RENTS · NE · 100% owned · share of income -$25,767 · share of assets $920,132 · controlled entity

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION
GREENVIEW PARTNERS INC

S Corp · RESIDENTIAL RENTS · NE · 100% owned · share of income -$26,152 · share of assets $1,196,329 · controlled entity

Directly controlled by NEW COMMUNITY DEVELOPMENT CORPORATION

Provenance

Return type: form_990
Tax year: 2022
Filed: 30 October 2023
IRS schema version: 2022v5.0
Source object: 202333139349301668

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