NEW HOPE COMMUNITY DEVELOPMENT CORPORATION

Financial Trends

Organization Details

NEW HOPE COMMUNITY DEVELOPMENT CORPORATION, founded in 1999, is a small nonprofit in the Housing & Shelter sector that reported $660K in total revenue in fiscal year 2023. Expenses of $635K left a modest 4% surplus.

Mission

TO ASSIST LOW AND MODERATE INCOME COMMUNITY RESIDENTS BY (1) ACQUIRING EXISTING HOUSING AND/OR REAL PROPERTY, EXTENDING THE USE OF EXISTING REAL ESTATE, CONSTRUCTING NEW AFFORDABLE HOUSING AND/OR MIXED-USE PROPERTY, AND REDEVELOPING AND/OR REHABILITATING EXISTING REAL PROPERTY FOR AFFORDABLE HOUSING AND/OR MIXED-USE; (2) MANAGING AND MAINTAINING THE CORPORATION'S REAL PROPERTY; (3) CREATING JOBS THROUGH SMALL OR MICRO-BUSINESS LENDING, BUSINESS INCUBATOR(S), AND COMMERCIAL DEVELOPMENT PROGRAMS; (4) PROVIDING EMPLOYMENT TRAINING; (5) ESTABLISHING COMMUNITY-BASED ECONOMIC DEVELOPMENT PROGRAMS; AND (6) PROVIDING EDUCATION, SOCIAL SERVICES AND CULTURAL ACTIVITIES. NEW HOPE COMMUNITY DEVELOPMENT (NHCDC) IS DEDICATED TO IMPROVING THE QUALITY OF LIFE OF UNDERSERVED COMMUNITIES THROUGH AFFORDABLE HOUSING, EDUCATIONAL ENRICHMENT AND ECONOMIC EMPOWERMENT THROUGHOUT THE COUNTY OF YOLO. NEW HOPE COMMUNITY DEVELOPMENT CORPORATION (NHCDC) OWNS AND OPERATES MULTI-FAMILY PROPERTIES (192 APARTMENT UNITS IN THE CITIES OF WOODLAND AND DAVIS) FOR LOW-INCOME FAMILIES, SENIORS, AND DISABLED PERSONS. THE PROPERTIES IN WOODLAND CONSIST OF COTTONWOOD (47 SENIOR UNITS), CROSSWOOD (48 FAMILY UNITS), AND ROCHDALE GRANGE (44 FAMILY UNITS), WHILE CESAR CHAVEZ PLAZA IN DAVIS HAS 53 UNITS. COTTONWOOD IS DIRECTLY MANAGED BY YOLO COUNTY HOUSING (YCH) STAFF, WHILE THE OTHER PROPERTIES UTILIZE THIRD-PARTY PROPERTY MANAGEMENT FIRMS. 80 MORE UNITS WERE ADDED AT COTTONWOOD/BEAMER IN WOODLAND DURING 2018 WHERE YCH OWNS THE LAND, WHICH IS LEASED BACK TO THE PARTNERSHIP ($1 FOR 99 YEARS). NHCDC IS AN INVESTMENT PARTNER AND CO-GENERAL PARTNER IN THE PROJECT. NHCDC ALSO OPERATES FAMILY SELF-SUFFICIENCY PROGRAMS, COMPUTER LEARNING CENTERS, AND YOUTH ATHLETIC AND SUMMER PROGRAMS. THE MEMBERS OF THE BOARD OF COMMISSIONERS OF YCH ALSO SERVE ON THE BOARD OF DIRECTORS OF NHCDC, WHICH HAS NO DIRECT EMPLOYEES. THE DAY-TO-DAY OPERATIONS OF NHCDC ARE OVERSEEN BY THE STAFF OF YCH UTILIZING SIMILAR POLICIES AND PROCEDURES AND MOST OF THE OPERATING EXPENSES ARE PAID THROUGH THE AP/PAYROLL ACCOUNT OF YCH AND THEN REIMBURSED BY NHCDC. BECAUSE OF THIS RELATIONSHIP, NHCDC IS A BLENDED COMPONENT UNIT IN THE FINANCIAL STATEMENT OF YCH. THE VARIOUS PROGRAMS RUN BY NHCDC PROMOTE LITERACY, STABILITY AND EMPOWERMENT TO YOUTH AND ADULTS. YOUTH PROGRAMS OFFER SAFE ACTIVITIES AFTER SCHOOL, DURING THE HOLIDAYS & THE SUMMER MONTHS. YOUTH SERVICES OFFERED ARE: CO-ED SUMMER SOCCER LEAGUE, COMPUTER LEARNING CENTERS (HOMEWORK CLUBS, INTERNET ACCESS, READING AND EDUCATIONAL DEVELOPMENT), SUMMER MEALS AND MINI-CAMPS. ADULTS/SENIORS BENEFIT FROM ACCESS TO: 1) WORKFORCE PLANNING SUCH AS COMPUTERS FOR JOB SEARCH, JOB TRAINING, COMPUTER & ENGLISH LITERACY/EDUCATION; 2) HEALTH/WELLNESS SUCH AS HEALTH & DENTAL SCREENINGS, EXERCISE & NUTRITION; 3) FAMILY STABILITY SUCH AS CRISIS MANAGEMENT, SOCIALIZATION & FAMILY/NEIGHBORHOOD ACTIVITIES; 4) VOLUNTEERISM SUCH AS COMMUNITY AWARENESS & SAFETY TEAMS; AND 5) BASIC NEEDS SUCH AS MEALS TO SENIORS, FOOD DRIVES, COMMUNITY POTLUCKS.

Financial Overview (2023)

Year-over-Year Comparison

Governance

Special Practices & Reported Activities

Compensation of Officers, Directors & Key Employees

Historical Data