New Covenant Community Development
- Assets
- $1.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 6
- Location
- Chicago, IL
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 80-0797774
Organization Overview
New Covenant Community Development is located in Chicago, IL. The organization was established in 2014. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, New Covenant Community Development employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Covenant Community Development 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 Covenant Community Development generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 53.6% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 29.8% 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 ESTABLISH COMMUNITY STABILITY THOUGH ENTREPRENEURIAL ECONOMIC DEVELOPMENT. WE ACCOMPLISH THIS THROUGH CLASSES, WORKSHOPS, AND ONE ON ONE BUSINESS COACHING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL LITERACY PROGRAM
BUSINESS COACHING AND MENTORING
WORKSHOPS FOR ENTREPRENEURIALSHIP
OTHER PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rodney D Brown Executive Di | Trustee | 40 | $67,500 |
Dennis Deer Board Presid | Trustee | $0 | |
Mark Ferguson Treasurer | Trustee | $0 | |
Mike Hobbs Board Member | Trustee | $0 | |
Melvin Houston Board Member | Trustee | $0 | |
Sheila Mcnary Board Member | Trustee | $0 |
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 | $1,892,795 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,892,795 |
| Total Program Service Revenue | $500 |
| Investment income | $201 |
| 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 | $1,893,496 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $734,508 |
| 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. | $67,500 |
| Compensation of current officers, directors, key employees. | $33,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $176,452 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,000 |
| Payroll taxes | $22,314 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $117,506 |
| Advertising and promotion | $16,091 |
| Office expenses | $7,022 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,800 |
| Travel | $87 |
| 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 | $0 |
| Insurance | $2,062 |
| All other expenses | $3,121 |
| Total functional expenses | $1,199,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,554,154 |
| Savings and temporary cash investments | $17,643 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $1,571,797 |
| Accounts payable and accrued expenses | $3,687 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,687 |
| Net assets without donor restrictions | $1,568,110 |
| 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 | $1,571,797 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Covenant Community Development has recieved totaling $153,798.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $153,798 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hoosier Uplands Economic Development Corporation Mitchell, IN | $50,608,889 | $20,253,454 |
Western Dairyland Economic Opportunity Council Incorporated Independence, WI | $9,371,395 | $17,670,947 |
Kentucky River Area Development District Inc Hazard, KY | $5,857,667 | $4,838,342 |
Missouri Incutech Foundation Rolla, MO | $1,463,624 | $4,973,546 |
Mountain Association For Community Economic Development Inc Berea, KY | $33,227,736 | $8,576,709 |
Southeast Kentucky Economic Development Corporation Inc Somerset, KY | $28,123,081 | $3,726,346 |
Pulaski County Growth Alliance Saint Robert, MO | $34,130 | $1,396,256 |
Kentucky Mountain Housing Development Corporation Inc Manchester, KY | $13,287,100 | $769,226 |
New Covenant Community Development Chicago, IL | $1,571,797 | $1,893,496 |
Community Farm Alliance Inc Berea, KY | $513,201 | $891,813 |
Lawrenceburg Main Street Inc Lawrenceburg, IN | $459,945 | $977,543 |
Door County Economic Development Corporation Sturgeon Bay, WI | $2,581,699 | $998,049 |