Newvue Affordable Housing Corporation
- Assets
- $13.6m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Fitchburg, MA
- Founding
- 07/1997
- Data as of
- 12/2022
- EIN
- 04-3271288
Organization Overview
Newvue Affordable Housing Corporation is located in Fitchburg, MA. The organization was established in 1997. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newvue Affordable Housing Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2022, Newvue Affordable Housing Corporation generated $2.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 11.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
NEWVUE AFFORDABLE HOUSING CORPORATION IS A NONPROFIT ORGANIZATION THAT DEVELOPS AND PROVIDES AFFORDABLE HOUSING TO LOW AND MODERATE INCOME HOUSEHOLDS IN NORTH CENTRAL MASSACHUSETTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEWVUE AFFORDABLE HOUSING CORPORATION IS A NONPROFIT ORGANIZATION THAT DEVELOPS AND PROVIDES AFFORDABLE HOUSING TO LOW AND MODERATE INCOME HOUSEHOLDS IN NORTH CENTRAL MASSACHUSETTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Dohan Clerk | OfficerTrustee | 1 | $0 |
Tom Gray President | OfficerTrustee | 1 | $0 |
Christina Dirusso Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $825,968 |
| Government grants | $285,023 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,130,991 |
| Total Program Service Revenue | $1,055,896 |
| Investment income | $594 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,269,569 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,074 |
| Fees for services: Accounting | $23,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $333,818 |
| Advertising and promotion | $2,157 |
| Office expenses | $35,847 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $884,268 |
| Travel | $2,428 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $310,208 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,751,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $351,533 |
| Savings and temporary cash investments | $1,501,811 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,318 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,183 |
| Net Land, buildings, and equipment | $6,666,740 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $93,776 |
| Other assets | $4,949,063 |
| Total assets | $13,624,424 |
| Accounts payable and accrued expenses | $797,775 |
| Grants payable | $0 |
| Deferred revenue | $260,000 |
| 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 | $11,681,008 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $12,738,783 |
| Net assets without donor restrictions | $885,641 |
| 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 | $13,624,424 |