New Markets Tax Credit Coalition
- Assets
- $266.2k
- Revenue
- $863.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 03/2004
- Data as of
- 12/2021
- EIN
- 33-1028007
Organization Overview
New Markets Tax Credit Coalition is located in Washington, DC. The organization was established in 2004. According to its NTEE Classification (W19) the organization is classified as: Support N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Markets Tax Credit Coalition is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, New Markets Tax Credit Coalition generated $863.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $890.3k during the year ending 12/2021. 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
NATIONAL MEMBERSHIP ORGANIZATION REPRESENTING COMMUNITY DEVELOPMENT ENTITIES AND INVESTORS WORKING WITH NMTC. ENSURING THAT NMTC CAN EFFECTIVELY BE USED TO ATTRACT PRIVATE CAPITAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
TIMELY ONLINE INFORMATION WITH THE COALITION'S WEBSITE AND ELECTRONIC NEWSLETTER, THE NMTC BULLETIN, CONTINUALLY PROVIDES UPDATED ANALYSES OF REGULATIONS, POLICY DEVELOPMENTS AND OFFICIAL NOTICES; MEMBERSHIP AND NETWORKING PROVIDE AN IDEAL WAY TO DISCUSS INVESTMENT OPPORTUNITIES, DEVELOPMENT PARTNERSHIPS AND LEARN FROM YOUR PEERS AND OTHER EXPERTS IN THE FIELD; THE ANNUAL CONFERENCE IS HELD BY THE COALITION TO PROVIDE MEMBERS AND OTHERS AN OPPORTUNITY TO JOIN VETERAN COMMUNITY DEVELOPERS, INVESTORS, POLICYMAKERS AND OTHERS AT A NATIONAL CONFERENCE. THE COALITION WORKS WITH MEMBERS OF CONGRESS TO EXTEND THE NEW MARKETS TAX CREDIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Merrill Hoopengardner Secretary | OfficerTrustee | 1 | $0 |
Yvette Ittu President | OfficerTrustee | 1 | $0 |
Laurel Vowell Treasurer | OfficerTrustee | 1 | $0 |
Aisha Benson Vice President | OfficerTrustee | 1 | $0 |
Jennifer Donohue Director | Trustee | 1 | $0 |
Nelson Black III Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $100,750 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,750 |
| Total Program Service Revenue | $762,757 |
| Investment income | $0 |
| 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 | $863,507 |
| 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 | $737,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,251 |
| Fees for services: Lobbying | $81,340 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,930 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,997 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,189 |
| All other expenses | $2,030 |
| Total functional expenses | $890,287 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,969 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $142,250 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $266,219 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $19,300 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $19,300 |
| Net assets without donor restrictions | $246,919 |
| 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 | $266,219 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Conference Of State Bank Supervisors Inc Washington, DC | $259,861,102 | $119,445,355 |
World Wide Web Foundation Washington, DC | $1,237,809 | $4,976,356 |
Americans For Tax Reform Foundation Washington, DC | $2,525,474 | $1,841,532 |
Associates For Renewal In Education Washington, DC | $678,918 | $1,672,739 |
United Service Organizations Inc Norfolk, VA | $0 | $1,039,563 |
New Markets Tax Credit Coalition Washington, DC | $266,219 | $863,507 |
Adc Research Institute Washington, DC | $420,358 | $727,523 |
Cultivate The Karass Arlington, VA | $138,968 | $0 |
So Md Vacation For Vets California, MD | $47,624 | $13,572 |
Tei Education Fund Washington, DC | $112,024 | $0 |
Baltimore County Inaugural Inc Pikesville, MD | $0 | $0 |