New America Corporation
- Assets
- $5.5m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 2
- Location
- Orangeburg, SC
- Founding
- 05/2010
- Data as of
- 12/2021
- 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. As of 12/2021, New America Corporation employed 2 individuals. 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 12/2021, New America Corporation generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.0% each year . All expenses for the organization totaled $812.4k during the year ending 12/2021. While expenses have increased by 23.7% 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
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 |
|---|---|---|---|
Adolphus Johnson President & CEO | OfficerTrustee | 40 | $36,000 |
Kemeka Johnson Sec/treas | OfficerTrustee | 1 | $0 |
Joseph Mcleod Chairman | OfficerTrustee | 1 | $0 |
Keyonna Middleton Director | Trustee | 1 | $0 |
Evelyn Primus-Haye Director | Trustee | 1 | $0 |
Emmie Hall Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bmc East Llc Construction | 12/30/19 | $346,395 |
Dependable Painting & Drywall Construction | 12/30/19 | $100,034 |
Amo Llc Construction | 12/30/19 | $122,768 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $71,288 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,918 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $74,206 |
| Total Program Service Revenue | $1,365,950 |
| Investment income | $22,375 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $38,563 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,501,094 |
| 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. | $36,000 |
| Compensation of current officers, directors, key employees. | $3,998 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,053 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,523 |
| Fees for services: Management | $16,600 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,574 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $186 |
| Office expenses | $2,415 |
| Information technology | $10,213 |
| Royalties | $0 |
| Occupancy | $10,037 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $37,486 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,186 |
| Insurance | $19,733 |
| All other expenses | $2,491 |
| Total functional expenses | $812,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,089,626 |
| Savings and temporary cash investments | $25,075 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,995 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $430,785 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,009 |
| Net Land, buildings, and equipment | $1,308,537 |
| Investments—publicly traded securities | $2,614,618 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $500 |
| Total assets | $5,487,145 |
| Accounts payable and accrued expenses | $93,324 |
| Grants payable | $0 |
| Deferred revenue | $3,367 |
| 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 | $500,000 |
| Other liabilities | $8,712 |
| Total liabilities | $605,403 |
| Net assets without donor restrictions | $3,609,424 |
| 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 | $5,487,145 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Meeting Street Schools Charleston, SC | $31,326,851 | $31,027,510 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Morehead Cain Foundation Chapel Hill, NC | $0 | $13,275,596 |
Education Foundation Scholarship Endowment Trust Chapel Hill, NC | $389,903,195 | $25,351,334 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Amity Medical Group Inc Charlotte, NC | $3,300,228 | $10,911,191 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |