NEW WAY HOMES INC

EIN: 474091853 501(c)(3) Human Services

SANTA CRUZ, CA

Total Revenue
$1,235,459
Total Expenses
$833,598
Total Assets
$11,994,685
Net Assets
$4,370,627
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2015
Legal Domicile
CA
Principal Officer
SIBLEY SIMON
Phone
8314194091
Tax Period
2024-01-01 to 2024-12-31

NEW WAY HOMES INC, founded in 2015, is a community nonprofit in the Human Services sector that reported $1.2M in total revenue in fiscal year 2024. Revenue fell 74% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $402K, a strong 33% operating margin.

Mission

TO SIGNIFICANTLY INCREASE THE AVAILABILITY AND AFFORDABILITY OF RENTAL HOUSING TO VULNERABLE AND LOW INCOME POPULATIONS BY MAKING CHARITABLE LOANS THAT ARE USED TO INCREASE THE RATE OF DEVELOPMENT OF NEW AFFORDABLE HOUSING INCLUDING WITHIN MIXED INCOME HOUSING PROJECTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $699,736
Program Service Revenue $16,960
Investment Income $518,763
Other Revenue $0
TOTAL REVENUE $1,235,459

Expense Breakdown

Grants Paid $2,500
Salaries & Benefits $152,410
Fundraising Expenses $3,063
Program Expenses $729,541
Other Expenses $678,688
TOTAL EXPENSES $833,598

Year-over-Year Comparison

2024 2023 Change
Revenue $1,235,459 $4,715,504 -0.7%
Expenses $833,598 $1,213,990 -0.3%
Net Income $401,861 $3,501,514 -0.9%
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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
9
Independent Members
9
Employees
3
Volunteers
20

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
3
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SIBLEY SIMON PRESIDENT 18.50
Officer Director
$0 $0 $0
JOHN BALLARD TREASURER (END 11/15/24) 1.25
Officer Director
$0 $0 $0
ROBERT SINGLETON SECRETARY 0.50
Officer Director
$0 $0 $0
JAMES RECTOR DIRECTOR 0.50
Director
$0 $0 $0
CHRISTINE SIPPL DIRECTOR 0.50
Director
$0 $0 $0
UCHE UWAHEMU DIRECTOR 0.50
Director
$0 $0 $0
ANDREW OW DIRECTOR 0.50
Director
$0 $0 $0
MICAH SILVEY DIRECTOR 0.50
Director
$0 $0 $0
OWEN LAWLOR DIRECTOR 0.50
Director
$0 $0 $0
AURA OSLAPAS DIRECTOR 0.50
Director
$0 $0 $0
ELAINE JOHNSON HSCC EXECUTIVE DIRECTOR 40.00
Highest
$116,724 $725 $117,449
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 $1,235,459 $833,598 $11,994,685 $401,861
2023 $4,715,504 $1,213,990 $10,557,458 $3,501,514
2022 $557,442 $578,187 $7,187,029 $-20,745
2021 $215,241 $287,591 $6,922,787 $-72,350
2020 $309,351 $239,931 $3,315,167 $69,420
2019 $400,214 $169,723 $2,482,051 $230,491
2018 $60,520 $95,169 $1,675,845 $-34,649
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