THE NEW WORLD CENTER FOUNDATION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1979

Legal Domicile

Principal Officer

JANITZA TORRES-KAPLAN

Phone

7863346831

Tax Period

2023-01-01 to 2023-12-31

THE NEW WORLD CENTER FOUNDATION INC, founded in 1979, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. Net assets of $6.6M represent 47 months of operating reserves.

Mission

ASSIST THE CITY OF MIAMI, FLORIDA AND OTHER CIVIC BODIES WITH THE OBJECTIVE OF ELIMINATING COMMUNITY DETERIORATION AND FOSTERING THE RENEWAL REDEVELOPMENT AND IMPROVEMENT OF PRIMARILY THE THE DOWNTOWN AREA OF MIAMI TO PROMOTE THE GENERAL WELFARE OF THE CITY.

Program Service Accomplishments

Program 1

Expenses: $1,473,766

THE ORGANIZAITON OWNS AND OEPRATES A 130 UNIT AFFORDABLE HOUSING APARTMENT BUILDING. NOT LESS THAN 80 PERCENT OF THE UNITS THEREIN ARE SET ASIDE FOR RENTAL TO VERY LOW-INCOME PERSONS OR HOUSEHOLDS...

THE ORGANIZAITON OWNS AND OEPRATES A 130 UNIT AFFORDABLE HOUSING APARTMENT BUILDING. NOT LESS THAN 80 PERCENT OF THE UNITS THEREIN ARE SET ASIDE FOR RENTAL TO VERY LOW-INCOME PERSONS OR HOUSEHOLDS WHOSE INCOMES ARE 60 PERCENT OR LESS OF THE MEDIAN ANNUAL GROSS INCOME FOR MIAMI-DADE COUNTY, FLORIDA, AND 20 PERCENT OF THE UNITS IN THE PROJECT FOR RENTAL TO VERY LOW INCOME PERSONS OR HOUSEHOLDS OR WHOSE INCOMES ARE FORTY PERCENT OF THE MEDIUM ANNUAL GROSS INCOME FOR MIAMI-DADE COUNTY, FLORIDA OR LESS. IN ADDITION, 40 PERCENT OF 80 PERCENT OF THE UNITS ARE SET ASIDE FOR ELDERLY PERSONS.

Program 2

Expenses: $47,683

ASSISTANCE TO THE COMMUNITY FOR LOW INCOME HOUSING.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $6,880

Program Service Revenue $1,638,406

Investment Income $22,586

Other Revenue $0

TOTAL REVENUE $1,667,872

Expense Breakdown

Grants Paid $10,437

Salaries & Benefits $361,881

Fundraising Expenses $0

Program Expenses $1,521,449

Other Expenses $1,326,533

TOTAL EXPENSES $1,698,851

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,667,872	$1,995,510	-0.2%
Expenses	$1,698,851	$1,580,820	+0.1%
Net Income	$-30,979	$414,690	-1.1%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$154,989

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JANITZA TORRES-KAPLAN	EXECUTIVE DI	40.00	Officer	$136,000	$18,989	$154,989
WILFREDO GORT	CHAIRMAN	1.00	Officer Director	$0	$0	$0
GERARD GUARCH	BOARD MEMBER	0.50	Director	$0	$0	$0
PETER MCDOUGAL	TREASURER	1.00	Officer Director	$0	$0	$0
LUIS DE ROSA	BOARD MEMBER	0.50	Director	$0	$0	$0
STEVEN ZORN	SECRETARY	0.50	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	$1,667,872	$1,698,851	$9,783,232	$-30,979
2022	$1,995,510	$1,580,820	$10,090,834	$414,690
2021	$1,440,035	$1,445,153	$10,274,084	$-5,118
2020	$1,425,450	$1,273,217	$10,483,315	$152,233
2019	$1,381,837	$1,202,876	$10,565,420	$178,961
2018	$1,315,821	$1,176,290	$10,592,936	$139,531