New America Corporation
- Assets
- $7.0m
- Revenue
- $606.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Orangeburg, SC
- Founding
- 05/2010
- Data as of
- 12/2022
- EIN
- 27-2131087
Organization Overview
New America Corporation is located in Orangeburg, SC. The organization was established in 2010. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New America Corporation 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 12/2022, New America Corporation generated $606.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $553.3k during the year ending 12/2022. While expenses have increased by 14.8% per year over the past 8 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
NEW AMERICA IS COMMITTED TO IMPROVING THE LIVES OF LOW-INCOME AND UNDERSERVED INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING SERVICES - NEW AMERICA CORPORATION PROVIDES HOUSING REPAIR, RENTAL, OWNERSHIP, RECOVERY AND DEVELOPMENT SERVICES FOR LOW INCOME AND UNDERSERVED INDIVIDUALS.
BUSINESS SERVICES - NEW AMERICA CORPORATION PROVIDES BUSINESS TRAINING, RENTAL, CAPITAL, AND DEVELOPMENT SERVICES FOR LOW INCOME AND UNDERSERVED INDIVIDUALS.
EDUCATION SERVICES - NEW AMERICA CORPORATION PROVIDES EDUCATIONAL SCHOLARSHIPS, CONTRIBUTIONS, AND TRAINING FOR LOW INCOME AND UNDERSERVED INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emmie Hall Director | Trustee | 1 | $0 |
Keyonna Middleton Director | Trustee | 1 | $0 |
Evelyn Primus-Haye Director | Trustee | 1 | $0 |
Adolphus Johnson President & CEO | OfficerTrustee | 40 | $36,000 |
Kemeka Johnson Sec/treas | OfficerTrustee | 1 | $0 |
Joseph Mcleod Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bmc East Llc Construction | 12/30/19 | $346,395 |
Amo Llc Construction | 12/30/19 | $122,768 |
Dependable Painting & Drywall Construction | 12/30/19 | $100,034 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,988 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,988 |
| Total Program Service Revenue | $960,856 |
| Investment income | $49,417 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$407,286 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $605,975 |
| 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. | $36,001 |
| Compensation of current officers, directors, key employees. | $4,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,754 |
| Fees for services: Management | $15,800 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,004 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $158 |
| Office expenses | $4,367 |
| Information technology | $9,889 |
| Royalties | $0 |
| Occupancy | $7,805 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,464 |
| Interest | $48,203 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,441 |
| Insurance | $10,566 |
| All other expenses | $965 |
| Total functional expenses | $553,331 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,644,829 |
| Savings and temporary cash investments | $25,077 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,826 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,075,804 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,025 |
| Net Land, buildings, and equipment | $1,245,443 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,139 |
| Total assets | $7,028,143 |
| Accounts payable and accrued expenses | $84,680 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $2,000,000 |
| Other liabilities | $9,077 |
| Total liabilities | $2,093,757 |
| Net assets without donor restrictions | $3,662,068 |
| Net assets with donor restrictions | $1,272,318 |
| 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 | $7,028,143 |