NEW NEIGHBORHOODS INC

EIN: 060864050 501(c)(3)

STAMFORD, CT

Total Revenue
$9,199,553
Total Expenses
$8,747,169
Total Assets
$34,377,591
Net Assets
$2,441,355
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1967
Legal Domicile
CT
Principal Officer
WILLIAM J HEALY II
Phone
2033592215
Tax Period
2023-01-01 to 2023-12-31

NEW NEIGHBORHOODS INC, founded in 1967, is a community nonprofit that reported $9.2M in total revenue in fiscal year 2023. Revenue surged 69% from the prior year, signaling strong growth momentum. Expenses of $8.7M left a modest 5% surplus.

Mission

NEW NEIGHBORHOODS, INC.'S PURPOSE IS TO DEVELOP, REDEVELOP, OWN AND MANAGE QUALITY HOUSING FOR LOW AND MODERATE INCOME PERSONS AND FAMILIES AND TO WORK TO ASSIST IN THE PLANNING, RE-PLANNING, DEVELOPMENT AND IMPROVEMENT OF LOW AND MODERATE INCOME COMMUNITIES IN CONNECTICUT, WITH A FOCUS ON LOW FAIRFIELD COUNTY.

Program Service Accomplishments

Program 1
Expenses: $4,140,231 Revenue: $3,540,184

NEW NEIGHBORHOODS IS AN OWNER OF SEVERAL REAL ESTATE COMPANIES AND PARTNERSHIPS WHICH OWN OVER 440 UNITS WHICH ARE RENTED TO LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES, WHICH INCLUDE...

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NEW NEIGHBORHOODS IS AN OWNER OF SEVERAL REAL ESTATE COMPANIES AND PARTNERSHIPS WHICH OWN OVER 440 UNITS WHICH ARE RENTED TO LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES, WHICH INCLUDE SUPPORTIVE, VETERAN AND SENIOR UNITS IN STAMFORD, NORWALK AND DANBURY, CT.

Program 2
Expenses: $2,736,996 Revenue: $4,145,958

NEW NEIGHBORHOODS, INC. PROVIDES SERVICES THAT FOCUSES ON MAXIMIZING RETURN AND PROPERTY VALUE AND THE DAY TO DAY MANAGEMENT ACTIVITIES OF THE DIFFERENT PROJECTS UNDER THEIR CONTROL.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,868,404
Program Service Revenue $6,226,803
Investment Income $104,346
Other Revenue $0
TOTAL REVENUE $9,199,553

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,045,216
Fundraising Expenses $147,576
Program Expenses $6,877,227
Other Expenses $4,701,953
TOTAL EXPENSES $8,747,169

Year-over-Year Comparison

2023 2022 Change
Revenue $9,199,553 $5,439,205 +0.7%
Expenses $8,747,169 $7,023,954 +0.2%
Net Income $452,384 $-1,584,749 -1.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
16
Employees
82
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$313,435
Total Directors
17
$313,435
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT O'BRIEN MEMBER 2.00
Director
$0 $0 $0
KEVIN GEORGE RECENT PAST CHAIRMAN 1.00
Director
$0 $0 $0
RONALD CORWIN MEMBER 1.00
Director
$0 $0 $0
JULIAN PIERCE VICE CHAIR 1.00
Officer Director
$0 $0 $0
PHIL SWAN MEMBER 1.00
Director
$0 $0 $0
ELLEN TOWER MEMBER 1.00
Director
$0 $0 $0
BEN THOMAS MEMBER 1.00
Director
$0 $0 $0
FELISHA GUIRAND-FLEURIMOND MEMBER 1.00
Director
$0 $0 $0
WILLIAM J HEALY II PRESIDENT/CEO 40.00
Officer Director
$273,788 $39,647 $313,435
SARAH FOX MEMBER 1.00
Director
$0 $0 $0
TOM LAMBERT MEMBER 1.00
Director
$0 $0 $0
ANTHONY STEWART MEMBER 1.00
Director
$0 $0 $0
BOBBI BROWN MEMBER 1.00
Director
$0 $0 $0
SANG YU MEMBER 1.00
Director
$0 $0 $0
PETER HELMES CHAIRMAN 1.00
Officer Director
$0 $0 $0
SUNIL SHARMA SECRETARY 1.00
Officer Director
$0 $0 $0
BRENDAN BIGGINS TREASURER/FINANCE COMMITTEE CHAIR 2.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $9,199,553 $8,747,169 $34,377,591 $452,384
2022 $5,439,205 $7,023,954 $33,755,919 $-1,584,749
2021 $5,420,026 $5,055,715 $20,544,832 $364,311
2020 $5,193,016 $4,718,766 $20,160,395 $474,250
2019 $4,728,995 $5,306,777 $19,231,109 $-577,782
2018 $4,437,061 $4,943,869 $19,910,818 $-506,808
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