Newton Community Development Foundation Inc
- Assets
- $11.7m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 25
- Location
- Newton, MA
- Founding
- 05/1970
- Data as of
- 12/2021
- EIN
- 04-2453465
Organization Overview
Newton Community Development Foundation Inc is located in Newton, MA. The organization was established in 1970. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Newton Community Development Foundation Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newton Community Development Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Newton Community Development Foundation Inc generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 4.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND MANAGE LOW AND MODERATE INCOME HOUSING AND ELDERLY HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT AND MANAGEMENT OF 296 UNITS OF LOW AND MODERATE INCOME HOUSING AND ELDERLY HOUSING FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeanne Strickland Executive Director | Officer | 40 | $225,561 |
Dina Troiani Director Of Operations | 40 | $101,875 | |
Timothy J Dacey Treasurer | OfficerTrustee | 1 | $0 |
Brian Gallagher Secretary | OfficerTrustee | 1 | $0 |
Judith Weber Vice President | OfficerTrustee | 1 | $0 |
Robert E Engler President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,000,089 |
| Government grants | $129,868 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,666 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,155,623 |
| Total Program Service Revenue | $1,371,053 |
| Investment income | $112,956 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $137,761 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,122,745 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $251,010 |
| Compensation of current officers, directors, key employees. | $74,825 |
| Compensation to disqualified persons | $750 |
| Other salaries and wages | $894,516 |
| Pension plan accruals and contributions | $8,813 |
| Other employee benefits | $79,588 |
| Payroll taxes | $87,658 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,639 |
| Fees for services: Accounting | $64,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $8,925 |
| Fees for services: Investment Management | $26,376 |
| Fees for services: Other | $18,633 |
| Advertising and promotion | $4,969 |
| Office expenses | $31,371 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $100,928 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,348 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,255 |
| Insurance | $0 |
| All other expenses | $70,296 |
| Total functional expenses | $1,683,575 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $225,579 |
| Savings and temporary cash investments | $1,119,098 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $979,070 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,340,467 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,228 |
| Net Land, buildings, and equipment | $379,644 |
| Investments—publicly traded securities | $6,240,113 |
| Investments—other securities | $0 |
| Investments—program-related | $1,418,010 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,714,209 |
| Accounts payable and accrued expenses | $109,405 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $271,029 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,787,433 |
| Total liabilities | $2,167,867 |
| Net assets without donor restrictions | $9,546,342 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,714,209 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Newton Community Development Foundation Inc has recieved totaling $25,098.
| Awarding Organization | Amount |
|---|---|
Lawrence J And Anne Rubenstein Charitable Foundation Boston, MA PURPOSE: CONTINUED SUPPORT OF SENIOR FITNESS & WELLNESS PROGRAMS | $17,500 |
Rebecca Pomroy Foundation Inc Auburndale, MA PURPOSE: TO SUPPORT OPERATIONS OF THE PUBLIC CHARITY | $7,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $98 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Foundation Of Western Massachusetts Springfield, MA | $263,677,089 | $50,890,910 |
Essex County Community Foundation Incorporated Danvers, MA | $116,029,343 | $28,414,247 |
Community Foundations Of The Hudson Valley Poughkeepsie, NY | $96,104,226 | $20,607,422 |
The Berkshire Taconic Community Foundation Inc Sheffield, MA | $235,546,714 | $26,961,716 |
Greater Worcester Community Foundation Inc Worcester, MA | $200,476,252 | $22,847,423 |
Community Foundation Of Herkimer And Oneida Counties Inc Utica, NY | $207,402,752 | $30,922,448 |
Community Foundation Of Eastern Connecticut New London, CT | $123,416,332 | $10,480,728 |
Southcoast Community Foundation Inc New Bedford, MA | $53,147,669 | $13,725,688 |
The Community Foundation For The Greater Capital Region Inc Albany, NY | $120,227,075 | $24,885,752 |
Connecticut Community Foundation Inc Waterbury, CT | $154,014,275 | $11,174,882 |
Adirondack Foundation Lake Placid, NY | $81,334,603 | $18,009,853 |
New York City Partnership Foundation Inc New York, NY | $45,208,462 | $5,342,641 |