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NEW HOPE DEVELOPMENT CORPORATION NO 1

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Tax-exempt status may be revoked

NEW HOPE DEVELOPMENT CORPORATION NO 1

EIN 22-2098953 · Senior Citizens' Housing/Retirement Communities

What they do

LOW INCOME HOUSING

Before you give

Should I give to this charity?

Easy charity check
Stop and check first

This record may have an IRS status problem. Do not give until you verify it.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkThere may be a problem with its nonprofit status. Check before giving.

Money report from 2016The report may be old. Ask for a newer one.

They explain their jobThe explanation is very short. Ask what work they really do.

They name their leaders6 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

20.00%of revenue went to mission work100.0% of expenses · Program services
$20.00spent for every $100 of revenueRevenue covered expenses this year.
$2.86in assets for every $1 spent this yearSome assets cannot be spent right away.

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Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2016

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$14,069,052
Mission workProgram services$2,813,21720.00% of revenue100.0% of expenses
ManagementOffice and general costs0.00% of revenue0.0% of expenses
FundraisingAsking for donations0.00% of revenue0.0% of expenses
Revenue left after expensesReported annual surplus$11,255,83580.00% of revenueShown in gray on the chart
Total expenses$2,813,21720.00% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails
2016CurrentExpense mix: 100.0% mission · 0.0% management · 0.0% fundraisingTotal expenses: 20.00% of revenue
2015Expense mix: 100.0% mission · 0.0% management · 0.0% fundraisingTotal expenses: 83.14% of revenue

Money in and money out

Revenue$14,069,052
Expenses$2,813,217
Annual surplus $11,255,835 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$2,813,217 · 100.0% of expenses
See all reported dollar amounts
Revenue$14,069,052
Expenses$2,813,217
Assets$8,054,423
Income$17,445,349
Mission work (program services)$2,813,217
Accounting fees$17,955
People

Leadership and board

Tax year 2016

Names, titles, time, and compensation below are reported by the organization on its Form 990.

No compensation was reported for these leaders. The complete board and leadership roster is shown below.

Board and leadership roster (6)

E DENISE COUNCILSECRETARY

ERNESTINE WATSONPRESIDENT

JOHN W CARTERDIRECTOR

MARY DICKENSDIRECTOR

NANCY TILLERTREASURER

RICHARD TAYLORVICE PRESIDENT

About this charity

Location
195 WEST MARKET STREET, NEWARK, NJ 07103
County
Essex
In care of
ERNESTINE WATSON
Primary officer
ERNESTINE WATSON, President

How to reach them

Filing and classification

Latest tax year
2016
Tax period began
October 1, 2016
Return type
990
Tax preparer
WILLS OWENS & BAKER PC
IRS tax category
Senior Citizens' Housing/Retirement Communities
Revocation date
February 15, 2021

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About this report: Information comes from public nonprofit records and may show the latest filing available.

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