NEW HOPE COMMUNITY CAPITAL INC

As filed

Subsection

03

NTEE code

L21

Classification

1000

Street

CO TCB 33 ARCH STREET 10TH FLOOR

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2024

• NEW HOPE WAS FORMED IN 1991 AS A CHARITABLE CORPORATION UNDER THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS, SPECIFICALLY FOR THE PURPOSES OF (A) PROMOTING, DEVELOPING, RENOVATING, MANAGING, AND FACILITATING THE CREATION OF AFFORDABLE HOUSING AT THE LOWEST POSSIBLE COST TO INDIVIDUALS AND FAMILIES OF LOW AND VERY LOW INCOMES; (B) PROMOTING SOCIAL WELFARE AND COMBATING COMMUNITY DETERIORATION THROUGH SUCH AFFORDABLE HOUSING ACTIVITIES; (C) IMPROVING BLIGHTED, DECAYED OR SUBSTANDARD AREAS IN ORDER TO PROMOTE ECONOMIC DEVELOPMENT AND PROVIDE EMPLOYMENT OPPORTUNITIES; AND (D) ANY OTHER TAX-EXEMPT ACTIVITIES THAT PROMOTE SUCH PURPOSES. NEW HOPE HAS PROVIDED CAPITAL FOR AFFORDABLE AND MIXED-INCOME HOUSING AND RELATED COMMUNITY DEVELOPMENT ACTIVITIES. IT DOES SO BY FACILITATING PRIVATE EQUITY INVESTMENTS IN AND MAKING GRANTS AND LOANS IN SUPPORT OF SUCH AFFORDABLE HOUSING AND RELATED COMMUNITY DEVELOPMENT WORK. IN SHORT, NEW HOPE PROMOTES THE CHARITABLE PURPOSE OF AFFORDABLE HOUSING FOR THE DIRECT BENEFIT OF POOR AND DISTRESSED INDIVIDUALS AND FAMILIES, WHICH ARE CHARITABLE CLASSES.NEW HOPE'S CHARITABLE PURPOSES WERE INCLUDES MAKING INVESTMENTS IN, AND GRANTS AND LOANS TO, NONPROFIT ORGANIZATIONS AND NONPROFIT-SPONSORED AFFORDABLE HOUSING PROJECTS AND ENTITIES. IN THIS CAPACITY, NEW HOPE SERVES AS A SYNDICATOR OF AFFORDABLE HOUSING DEVELOPMENTS GENERATING FEDERAL LOW INCOME HOUSING TAX CREDITS ("LIHTCS") AND RECEIVES CERTAIN FEES AND REIMBURSEMENT OF EXPENSES IN CONNECTION WITH ITS ROLE AS SYNDICATOR. NEW HOPE IS MISSION-DRIVEN AND ONLY WORKS ON AFFORDABLE HOUSING PROJECTS CONTROLLED BY ONE OR MORE CHARITABLE ENTITIES. PURSUANT TO INVESTOR SERVICES AGREEMENTS, NEW HOPE INTRODUCES POTENTIAL LIHTC INVESTORS TO INVESTMENT OPPORTUNITIES IN AFFORDABLE HOUSING PROJECTS, ASSISTS INVESTORS IN ANALYZING THE FINANCIAL FEASIBILITY AND FINANCIAL STRUCTURE OF PROJECTS AND MONITORS LIHTC INVESTORS' INVESTMENTS IN PROJECTS. NEW HOPE ONLY PROVIDES THESE SERVICES IN CONNECTION WITH AFFORDABLE RENTAL HOUSING PROJECTS THAT ARE CONTROLLED BY ONE OR MORE 501(C)(3) CHARITABLE ORGANIZATIONS.NEW HOPE ALSO FORMS SINGLE-PURPOSE ENTITIES (TYPICALLY LIMITED LIABILITY COMPANIES) TO SERVE AS INVESTMENT FUNDS ("LIHTC FUNDS") THROUGH WHICH LIHTC INVESTORS INVEST IN LOW-INCOME HOUSING PROJECTS THAT ADVANCE THE CHARITABLE PURPOSES OF NEW HOPE BY INCREASING THE POOL OF EQUITY AVAILABLE FOR INVESTMENT IN AFFORDABLE HOUSING AND MAKING EQUITY AVAILABLE TO DISADVANTAGED POPULATIONS OR UNDERSERVED COMMUNITIES. TYPICALLY, A LIHTC FUND WILL HAVE A 99.99% LIMITED PARTNERSHIP INTEREST (OR NON-MANAGING MEMBER INTEREST IN THE CASE OF AN LLC) IN THE ENTITY THAT OWNS THE AFFORDABLE HOUSING PROJECT. NEW HOPE SERVES AS THE MANAGER OF THE LIHTC FUND AND PROVIDES MANAGEMENT AND ADMINISTRATIVE SERVICES FOR WHICH IT RECEIVES FEES.IN ITS 29-YEAR HISTORY, NEW HOPE HAS RAISED MORE THAN $300 MILLION IN EQUITY WHICH HAS BEEN INVESTED IN AFFORDABLE AND MIXED INCOME HOUSING DEVELOPMENTS SPONSORED BY TAX-EXEMPT ORGANIZATIONS. IT HAS SPONSORED OR CO-SPONSORED FOURTEEN INVESTMENT FUNDS WHICH HAVE INVESTED IN MORE THAN 65 AFFORDABLE HOUSING OR MIXED INCOME DEVELOPMENTS IN FOURTEEN STATES THAT HOUSE APPROXIMATELY 5,000 HOUSEHOLDS. NEW HOPE ALSO ADVANCES ITS MISSION BY MAKING GRANTS AND LOANS IN SUPPORT OF AFFORDABLE HOUSING AND COMMUNITY DEVELOPMENT ACTIVITIES AND TAX-EXEMPT ORGANIZATIONS PURSUING SIMILAR MISSIONS, INCLUDING GRANTS TO COMMUNITY BUILDERS.

  Expenses $37,938,819 · Grants $34,412,415 · Revenue $3,496,001

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

Officers and directors · 2024

As listed in Part VII of the 2024 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

• ALLEN FELIZ

  DIRECTOR

  Total calculated

  $0

  Hours/week

  0.2

• BEVERLY BATES

  DIRECTOR

  Total calculated

  $0

  Hours/week

  0.2

• JENNY NETZER

  DIRECTOR/PRESIDENT

  Total calculated

  $0

  Hours/week

  0.2

• LEONARD CLARK

  DIRECTOR/TREASURER

  Total calculated

  $0

  Hours/week

  0.2

• MICHAEL GILLIGAN

  DIRECTOR

  Total calculated

  $0

  Hours/week

  0.2

• NAVJEET BAL

  OUTGOING DIRECTOR (THRU 9/2024)

  Total calculated

  $0

  Hours/week

  0.2

• JESSICA JESSE ELTON

  VICE PRESIDENT

  Total calculated

  $0

  Hours/week

  0.2

• THOMAS BUONOPANE

  VICE PRESIDENT

  Total calculated

  $0

  Hours/week

  0.2

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. Earlier years are each on their own filing page.

Filings

• 2024

  Revenue

  $38,876,237

  Expenses

  $38,242,580

  Contributions

  $19,544,729

  Grants paid

  $34,412,415

• 2023

  Revenue

  $7,426,665

  Expenses

  $6,490,579

  Contributions

  $976,265

  Grants paid

  $3,950,888

• 2022

  Revenue

  $7,579,229

  Expenses

  $3,509,023

  Contributions

  $1,650,000

  Grants paid

  $1,145,014

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

• 2021 · 990

  Revenue

  $8,686,559

  Expenses

  $8,332,878

  Assets (EOY)

  $43,105,850

• 2020 · 990

  Revenue

  $5,244,197

  Expenses

  $4,540,527

  Assets (EOY)

  $32,381,544

• 2019 · 990

  Revenue

  $22,654,708

  Expenses

  $22,447,785

  Assets (EOY)

  $25,661,068

• 2018 · 990

  Revenue

  $9,101,367

  Expenses

  $9,040,313

  Assets (EOY)

  $20,829,759

• 2017 · 990

  Revenue

  $16,601,901

  Expenses

  $15,931,901

  Assets (EOY)

  $17,037,281

• 2016 · 990

  Revenue

  $6,061,260

  Expenses

  $5,318,125

  Assets (EOY)

  $6,966,983

• 2014 · 990

  Revenue

  $2,477,849

  Expenses

  $1,286,661

  Assets (EOY)

  $11,906,552

• 2013 · 990

  Revenue

  $2,883,589

  Expenses

  $2,128,430

  Assets (EOY)

  $269,818

• 2008 · 990

  Revenue

  — not reported

  Expenses

  $9,680,822

  Assets (EOY)

  $422,772

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all.

Grants made

• WASHINGTON PINE LLC

  $9,875,000

  2024 · TO PROVIDE FUNDING TO SUPPORT OUR LENDING AND INVESTMENT ACTIVITIES IN LOW AND MODERATE INCOME COMMUNITIES.

• GARFIELD PARK WELLNESS CENTER SUPPORT CORPORATION

  $8,797,632

  2024 · TO PROVIDE FUNDING TO SUPPORT OUR LENDING AND INVESTMENT ACTIVITIES IN LOW AND MODERATE INCOME COMMUNITIES.

• 250 CENTRE STREET HOUSING LLC

  $5,946,000

  2024 · TO PROVIDE FUNDING TO SUPPORT OUR LENDING AND INVESTMENT ACTIVITIES IN LOW AND MODERATE INCOME COMMUNITIES.

• WGWC DEVELOPMENT SERVICES LLC

  $4,550,000

  2024 · THE DEVELOPMENT OF THE SANKOFA VILLAGE WELLNESS CENTER.

• NANNIE HELEN OWNER LLC

  $2,987,244

  2023 · TO FURTHER THE GRANTEE'S PURPOSE OF DEVELOPING HOUSING FOR LOW INCOME FAMILIES.

• ATC COMMERCIAL ML LLC

  $2,372,937

  2024 · TO PROVIDE FUNDING TO SUPPORT OUR LENDING AND INVESTMENT ACTIVITIES IN LOW AND MODERATE INCOME COMMUNITIES.

• TCB BEACH 21ST LLC

  $2,122,903

  2024 · TO PROVIDE FUNDING TO SUPPORT OUR LENDING AND INVESTMENT ACTIVITIES IN LOW AND MODERATE INCOME COMMUNITIES.

• WGWC DEVELOPMENT SERVICES LLC

  $800,000

  2023 · THE DEVELOPMENT OF THE SANKOFA VILLAGE WELLNESS CENTER.

• ATC COMMERCIAL ML LLC

  $750,000

  2022 · TO FURTHER THE GRANTEE'S PURPOSE OF DEVELOPING HOUSING FOR LOW INCOME FAMILIES.

• W GARFIELD PARK

  $719,180

  2024 · TO PROVIDE FUNDING TO SUPPORT OUR LENDING AND INVESTMENT ACTIVITIES IN LOW AND MODERATE INCOME COMMUNITIES.

The 10 largest by cash amount. The API serves every itemized grant.

Where these grants went next →

Grants received

• FIDELITY INVESTMENTS CHARITABLE GIFT FUND

  $200,000

  2022 · For grant recipient's exempt purposes

Taxable family

From Schedule R Parts I, III and IV: entities that legally are the filer, and taxable partnerships, corporations and trusts it is related to. These record ownership and control, not shared board members or money.

Other IRS files