Nueva Esperanza Housing and Economic Development Corporation

EIN: 232952060 501(c)(3) Housing & Shelter

Philadelphia, PA

Total Revenue
$1,114,819
Total Expenses
$1,271,022
Total Assets
$5,070,168
Net Assets
$1,641,286
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
PA
Principal Officer
ARTEMIO RODRIGUEZ
Phone
2153240746
Tax Period
2023-07-01 to 2024-06-30

Nueva Esperanza Housing and Economic Development Corporation, founded in 1998, is a community nonprofit in the Housing & Shelter sector that reported $1.1M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $1.3M exceeded revenue, resulting in a 14% operating deficit.

Mission

NUEVA ESPERANZA HOUSING AND ECONOMIC DEVELOPMENT CORPORATION ("NEHED") IS A NON-PROFIT CORPORATION SERVING THE HISPANIC COMMUNITY OF NORTH PHILADELPHIA. THE PRIMARY PURPOSE OF THE ORGANIZATION IS THE IMPROVEMENT OF THE PHYSICAL, ECONOMIC, AND SOCIAL ENVIRONMENT OF THE TARGET AREA BOUNDED BY ROOSEVELT BOULEVARD, 9TH STREET, ERIE AVENUE, AND FRONT STREET IN PHILADELPHIA, PA BY ADDRESSING THE NEEDS OF LOW-INCOME PERSONS, INCLUDING HOUSING FOR LOWER INCOME PERSONS AND ACTIVITIES ON A NOT-FOR-PROFIT AND CHARITABLE BASIS. NEHED'S MISSION IS TO TRANSFORM HUNTING PARK INTO A DESTINATION AND A MODEL NEIGHBORHOOD BY EMPOWERING ITS PEOPLE AND FOSTERING COMMUNITY ENGAGEMENT, ECONOMIC AND PHYSICAL DEVELOPMENT, AND EDUCATION.

Program Service Accomplishments

Program 1
Expenses: $1,225,486 Revenue: $87,907

NUEVA ESPERANZA HOUSING AND ECONOMIC DEVELOPMENT CORPORATION ("NEHED") IS A NON-PROFIT CORPORATION SERVING THE HISPANIC COMMUNITY OF NORTH PHILADELPHIA. THE PRIMARY PURPOSE OF THE ORGANIZATION IS THE...

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NUEVA ESPERANZA HOUSING AND ECONOMIC DEVELOPMENT CORPORATION ("NEHED") IS A NON-PROFIT CORPORATION SERVING THE HISPANIC COMMUNITY OF NORTH PHILADELPHIA. THE PRIMARY PURPOSE OF THE ORGANIZATION IS THE IMPROVEMENT OF THE PHYSICAL, ECONOMIC, AND SOCIAL ENVIRONMENT OF THE TARGET AREA BOUNDED BY ROOSEVELT BOULEVARD, 9TH STREET, ERIE AVENUE, AND FRONT STREET IN PHILADELPHIA, PA BY ADDRESSING THE NEEDS OF LOW-INCOME PERSONS, INCLUDING HOUSING FOR LOWER INCOME PERSONS AND ACTIVITIES ON A NOT-FOR-PROFIT AND CHARITABLE BASIS. NEHED'S MISSION IS TO TRANSFORM HUNTING PARK INTO A DESTINATION AND A MODEL NEIGHBORHOOD BY EMPOWERING ITS PEOPLE AND FOSTERING COMMUNITY ENGAGEMENT, ECONOMIC AND PHYSICAL DEVELOPMENT, AND EDUCATION.

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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 $1,024,786
Program Service Revenue $87,907
Investment Income $0
Other Revenue $2,126
TOTAL REVENUE $1,114,819

Expense Breakdown

Grants Paid $0
Salaries & Benefits $864,005
Fundraising Expenses $0
Program Expenses $1,225,486
Other Expenses $407,017
TOTAL EXPENSES $1,271,022

Year-over-Year Comparison

2023 2022 Change
Revenue $1,114,819 $1,275,122 -0.1%
Expenses $1,271,022 $1,054,468 +0.2%
Net Income $-156,203 $220,654 -1.7%
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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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
5
Employees
N/A
Volunteers
5

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
1
$274,293
Total Directors
7
$490,948
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
REV DANNY CORTES BOARD TREASURER 2.0
Officer Director
$0 $17,516 $274,293
WALTER TOLIVER BOARD MEMBER 2.0
Director
$0 $22,030 $216,655
CATALINA HUNTER BOARD MEMBER 2.0
Director
$0 $0 $0
Pastor MATT LIN BOARD MEMBER 2.0
Director
$0 $0 $0
VICTOR D FIGUEROA BOARD MEMBER 2.0
Director
$0 $0 $0
ENRIQUE MAGANA BOARD MEMBER 2.0
Director
$0 $0 $0
CARLOS RAMOS BOARD MEMBER 2.0
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
2025 No data No data No data No data
2024 $1,114,819 $1,271,022 $5,070,168 $-156,203
2023 $1,275,122 $1,054,468 $4,941,252 $220,654
2022 $1,212,448 $870,723 $3,759,474 $341,725
2021 $2,196,050 $827,993 $2,713,234 $1,368,057
2020 $873,969 $664,453 $2,322,529 $209,516
2019 $840,905 $847,162 $2,193,854 $-6,257
2018 $642,688 $757,167 $2,102,047 $-114,479
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