New Community Corporation

Analysis

New Community Corporation is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in February 1974, 52 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, New Community Corporation reported income of $14.0m and spending of $13.9m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $16.1m to $14.0m (-13%), an average of -3.4% a year. The sharpest change came in the year to December 2022, when income dropped by 22%. Over the whole period it spent 91% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, New Community Corporation sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NJ. Charities of a similar size with the same main cause include Community Partners for Affordable Housing ($14.0m), Housing Assistance Council ($14.1m) and Gurwin Jewish-Fay J Lindner Residences Inc ($14.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 10% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $588k (4.2% of expenses). Other salaries and wages came to $5.9m. At year end it held assets of $91.5m against liabilities of $7.4m, net assets of $84.1m. It reported 332 employees.