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Nonprofiteer
← NEW COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by NEW COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$5,129,298
Total expenses
$3,618,624
Contributions and grants received
$980,963
Grants paid
$6,000
Program service revenue
$2,891,086
Investment income
$1,261,206
Other revenue
-$3,957
Total assets, end of year
$13,095,212
Total liabilities, end of year
$4,815,481
Net assets or fund balances, end of year
$8,279,731
Program services expenses (Part IX)
$3,344,399
Management and general expenses
$230,559
Fundraising expenses
$43,666
Program service expenses (Part III)
$3,344,399

Program services were 92.4% 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)

    $554,852

  • 1f · All other contributions, gifts and grants

    $426,111

  • 1g · Noncash contributions included above

    $4,825

  • 2a · Program service revenue: Rents

    total $2,831,456 · related or exempt $2,831,456

  • 2b · Program service revenue: Management Fees

    total $59,630 · related or exempt $59,630

  • 3 · Investment income

    total $3,203 · excluded $3,203

  • 7a · Gross sales of assets other than inventory

    other assets $1,364,894

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

    other assets $106,891

  • 7c · Gain or loss

    other assets $1,258,003

  • 7d · Net gain or loss

    total $1,258,003 · related or exempt $1,258,003

  • 10a · Gross sales of inventory

    $1,021,000

  • 10b · Cost of goods sold

    $1,474,972

  • 10c · Net income from sales of inventory

    total -$453,972 · related or exempt -$453,972

  • 11a · Other revenue: Gain on Insurance

    total $379,372 · related or exempt $379,372

  • 11b · Other revenue: Debt Extinguishment

    total $70,643 · related or exempt $70,643

  • 11e · Other revenue, total

    $450,015

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $6,000 · program services $6,000

  • 5 · Compensation of officers, directors and key employees

    total $179,216 · program services $49,198 · management and general $99,090 · fundraising $30,928

  • 7 · Other salaries and wages

    total $74,218 · program services $72,939 · management and general $1,166 · fundraising $113

  • 9 · Other employee benefits

    total $16,633 · program services $16,347 · management and general $261 · fundraising $25

  • 10 · Payroll taxes

    total $19,209 · program services $18,878 · management and general $302 · fundraising $29

  • 11a · Fees: management

    total $244,082 · program services $244,082

  • 11b · Fees: legal

    total $28,861 · program services $24,501 · management and general $3,332 · fundraising $1,028

  • 11c · Fees: accounting

    total $126,968 · program services $35,914 · management and general $91,054

  • 11e · Fees: professional fundraising services

    total $4,399 · fundraising $4,399

  • 11g · Fees: other

    total $121,176 · program services $121,176

  • 12 · Advertising and promotion

    total $8,555 · program services $8,555

  • 13 · Office expenses

    total $42,059 · program services $34,535 · management and general $5,843 · fundraising $1,681

  • 14 · Information technology

    total $26,769 · program services $21,598 · management and general $3,876 · fundraising $1,295

  • 16 · Occupancy

    total $1,741,905 · program services $1,727,367 · management and general $12,891 · fundraising $1,647

  • 17 · Travel

    total $7,072 · program services $4,466 · management and general $1,991 · fundraising $615

  • 19 · Conferences, conventions and meetings

    total $1,310 · program services $703 · management and general $464 · fundraising $143

  • 20 · Interest

    total $205 · management and general $205

  • 22 · Depreciation, depletion and amortization

    total $279,879 · program services $275,359 · management and general $3,454 · fundraising $1,066

  • 23 · Insurance

    total $17,980 · program services $10,844 · management and general $6,485 · fundraising $651

  • 24a · Other expenses: Rental Administration

    total $592,010 · program services $592,010

  • 24b · Other expenses: Other Rental Expense

    total $36,910 · program services $36,910

  • 24c · Other expenses: ComplianceMonitoring Fees

    total $34,765 · program services $34,765

  • 24d · Other expenses: Loss on Disposal

    total $6,083 · program services $6,083

  • 24e · All other expenses

    total $2,360 · program services $2,169 · management and general $145 · fundraising $46

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,736,529 · end of year $3,089,569

  • 2 · Savings and temporary cash investments

    beginning of year $49,435

  • 4 · Accounts receivable

    beginning of year $74,319 · end of year $263,392

  • 7 · Other notes and loans receivable

    beginning of year $652,765 · end of year $734,960

  • 8 · Inventories for sale or use

    beginning of year $1,023,011 · end of year $1,165,763

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,085 · end of year $6,164

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

    $10,093,743

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

    $2,372,602

  • 10c · Land, buildings and equipment, net

    beginning of year $5,708,027 · end of year $7,721,141

  • 13 · Investments: program-related

    beginning of year $1,966,169 · end of year $114,223

  • 17 · Accounts payable and accrued expenses

    beginning of year $225,879 · end of year $366,447

  • 19 · Deferred revenue

    beginning of year $479,045 · end of year $475,135

  • 21 · Escrow or custodial account liability

    beginning of year $93,768 · end of year $139,587

  • 23 · Secured mortgages and notes payable

    beginning of year $3,663,005 · end of year $3,834,312

  • 27 · Net assets without donor restrictions

    beginning of year $6,723,643 · end of year $8,112,830

  • 28 · Net assets with donor restrictions

    beginning of year $35,000 · end of year $166,901

Mission and programs · 2023

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 save, affordable and high quality housing to low and moderate income families, the Organziation had a dramatic impact on the local community. The Organization placed 6 new home owner in an energy efficent quality home with 7 under construction. The Infil program helps bridge the affordability gap with down payment assistance for qualified buyers of the newly constructed homes while increasing the tax base of the areas the homes are built. The Organization also operated 336 rental units with a focus on those who are low to moderate income.

    Expenses $3,344,399 · Revenue $4,145,132

As filed on the 2023 return.

Listed in Part VII

  • David Hazlewood

    Chief Executive Officer

    Total calculated
    $97,034
    From this org
    $84,484
    From related orgs
    $0
    Other
    $12,550
    Hours/week
    40

  • Phyllis Peterson

    Chief Operating Officer

    Total calculated
    $43,665
    From this org
    $35,320
    From related orgs
    $0
    Other
    $8,345
    Hours/week
    40

  • Leslie Coleman

    CEO

    Total calculated
    $32,229
    From this org
    $28,524
    From related orgs
    $0
    Other
    $3,705
    Hours/week
    40

  • Teresa Hunter

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Tim German

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Trey Simpson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Aaron Hoffman

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Karen Anderson

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • M John Kilnoski

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Ernest White

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Ruy Acevedo

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Joshua Berry

    Board President

    Total calculated
    $0
    Hours/week
    1

  • Lara 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.

  • New Community Holdings LLC

    Holding Company for low-income multi-family housing · NE · assets $1,024,267

    Directly controlled by New Community Development Corporation

  • Anathoth LLC

    Residental Rents · NE · income $119,524 · assets $176,306

    Directly controlled by New Community Holdings LLC

  • Burlington Square III LLC

    Residential Rents · NE · income $316,339 · assets $1,035,575

    Directly controlled by New Community Holdings LLC

  • Clark Place II LLC

    Residential Rents · NE · income $351,050 · assets $847,208

    Directly controlled by New Community Holdings LLC

  • Fullwood Square II LLC

    Residential Rents · NE · income $209,096 · assets $1,081,351

    Directly controlled by New Community Holdings LLC

  • Grace Plaza II LLC

    Residential Rents · NE · income $219,751 · assets $39,091

    Directly controlled by New Community Holdings LLC

  • Greenview Place LLC

    Residential Rents · NE · income $377,999 · assets $1,116,450

    Directly controlled by New Community Holdings LLC

  • Long School Townhomes I LLC

    Residential Rents · NE · income $19,910 · assets $185,015

    Directly controlled by New Community Holdings LLC

  • Meredith Manor III LLC

    Residential Rents · NE · income $195,636 · assets $589,785

    Directly controlled by New Community Holdings LLC

  • Orchard Manor III LLC

    Residential Rents · NE · income $805,529 · assets $1,874,542

    Directly controlled by New Community Holdings LLC

  • Twentieth Place III LLC

    Residential Rents · NE · income $186,406 · assets $535,710

    Directly controlled by New Community Holdings LLC

  • Village Place II LLC

    Residential Rents · NE · income $468,841 · assets $1,256,626

    Directly controlled by New Community Holdings LLC

Related corporations and trusts

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

  • Salem Village II Development LLC

    C Corp · RESIDENTIAL RENTS · NE · 100% owned · share of income $1 · share of assets $114,983 · controlled entity

    Directly controlled by New Community Development Corporation

  • Beacon Place Development LLC

    S Corp · Residential Rents · IA · 100% owned · controlled entity

    Directly controlled by New Community Development Corporation

Provenance

Return type
form_990
Tax year
2023
Filed
1 November 2024
IRS schema version
2023v5.1
Source object
202413069349301766

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