NEWSED COMMUNITY DEVELOPMENT CORP INC

EIN: 742275534 501(c)(3)

DENVER, CO

Total Revenue
$1,523,474
Total Expenses
$1,529,407
Total Assets
$7,209,233
Net Assets
$4,384,195
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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
CO
Principal Officer
ANDREA BARELA
Phone
3035348342
Tax Period
2023-01-01 to 2023-12-31

NEWSED COMMUNITY DEVELOPMENT CORP INC, founded in 1983, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. Net assets of $4.4M represent 35 months of operating reserves.

Mission

NEWSED COMMUNITY DEVELOPMENT CORPORATION, INC. (NEWSED CDC) WAS CREATED TO DEVELOP LOW INCOME HOUSING OPPORTUNITES, TO IDENTIFY AND ELIMINATE DISCRIMINATION IN THE HOUSING AREA, AND TO RAISE ECONOMIC, EDUCATIONAL, CULTURAL AND SOCIAL LEVEL OF THE RESIDENTS ON THE CITY AND COUNTY OF DENVER .

Program Service Accomplishments

Program 1
Expenses: $506,279

HOMEOWNERSHIP COUNSELING: SINCE THE BEGINNING OF NEWSED CDC'S HOME BUYER COUNSELING PROGRAM OVER ONE THOUSAND CLIENTS HAVE BEEN SUCCESSFULLY TRANSITIONED INTO HOMEOWNERSHIP. FORECLOSURE COUNSELING...

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HOMEOWNERSHIP COUNSELING: SINCE THE BEGINNING OF NEWSED CDC'S HOME BUYER COUNSELING PROGRAM OVER ONE THOUSAND CLIENTS HAVE BEEN SUCCESSFULLY TRANSITIONED INTO HOMEOWNERSHIP. FORECLOSURE COUNSELING: NEWSED CDC PROVIDES FORECLOSURE PREVENTION COUNSELING TO THOSE FACING THIS FINANCIAL CRISIS. OUR HIGHLY TRAINED AND EXPERIENCED COUNSELORS HAVE WORKED WITH HUNDREDS OF CLIENTS. HOMEBUYER WORKSHOPS & ONLINE EDUCATION: NEWSED CDC'S HOMEBUYER WORKSHOPS ARE DESIGNED TO HELP NAVIGATE THE PATH TO HOMEOWNERSHIP FOR FREE. NEWSED CDC ONLINE EDUCATION COURSES WERE DEVELOPED BY A HUD CERTIFIED NONPROFIT AGENCY AND AFTER COMPLETION, THE CLIENT WILL MEET CHFA REQUIREMENTS. NEWSED CDC WORKS IN COLLABORATION WITH COMMUNITY FINANCIAL PARTNERS TO OFFER A SERIES OF FINANCIAL CLASSES. THE CLASSES ARE DESIGNED TO HELP PARTICIPANTS IMPROVE THEIR OVERALL AND LONG-TERM FINANCIAL SITUATION. PARTICIPANTS ARE PROVIDED WITH THE BASICS OF MONEY MANAGEMENT TO BE ABLE TO INCREASE THEIR SAVINGS AND ACCOMPLISH THEIR FINANCIAL GOALS.

Program 2
Expenses: $431,866 Revenue: $294,835

PROPERTY MANAGEMENT: MAINTAIN HOUSING PROJECTS IN THE DENVER AREA SPECIFICALLY DESIGNED TO SUPPORT LOW-INCOME HOUSEHOLDS.

Program 3
Expenses: $210,041

HOUSING DEVELOPMENT: NEWSED CDC PURCHASES, REPAIRS, AND RESELLS FORMERLY FORECLOSED HOMES FROM PRIVATE LENDERS TO INCOME ELIGIBLE HOUSEHOLDS. REAL ESTATE DEVELOPMENT: NEWSED CDC DEVELOPS COMMERCIAL...

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HOUSING DEVELOPMENT: NEWSED CDC PURCHASES, REPAIRS, AND RESELLS FORMERLY FORECLOSED HOMES FROM PRIVATE LENDERS TO INCOME ELIGIBLE HOUSEHOLDS. REAL ESTATE DEVELOPMENT: NEWSED CDC DEVELOPS COMMERCIAL, RESIDENTIAL AND MIXED USE REAL ESTATE. IN TOTAL, NEWSED CDC HAS DEVELOPED OVER 650,000 SQUARE FEET OF HOUSING AND RETAIL/COMMERCIAL REAL ESTATE OVER THE LAST THREE DECADES.

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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 $1,275,194
Program Service Revenue $294,835
Investment Income $10,255
Other Revenue $-56,810
TOTAL REVENUE $1,523,474

Expense Breakdown

Grants Paid $0
Salaries & Benefits $814,920
Fundraising Expenses $58,411
Program Expenses $1,148,186
Other Expenses $714,487
TOTAL EXPENSES $1,529,407

Year-over-Year Comparison

2023 2022 Change
Revenue $1,523,474 $1,188,013 +0.3%
Expenses $1,529,407 $1,686,177 -0.1%
Net Income $-5,933 $-498,164 -1.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
8
Independent Members
8
Employees
18
Volunteers
50

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
6
$122,113
Total Directors
9
$122,113
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SARAH GEIS CHAIR 1.00
Officer Director
$0 $0 $0
MARIE ESQUEDA VICE CHAIR 1.00
Officer Director
$0 $0 $0
JENNIFER BREZICHA TREASURER 1.00
Officer Director
$0 $0 $0
GREG TOTTEN SECRETARY 1.00
Officer Director
$0 $0 $0
NICOLE MARQUEZ PAST CHAIR 1.00
Officer Director
$0 $0 $0
JOSE ARAGON DIRECTOR 1.00
Director
$0 $0 $0
LARRY MARTINEZ DIRECTOR 1.00
Director
$0 $0 $0
JON PETERSON DIRECTOR 1.00
Director
$0 $0 $0
ANDREA BARELA PRESIDENT & 40.00
Officer Director
$115,000 $7,113 $122,113
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 $1,523,474 $1,529,407 $7,209,233 $-5,933
2022 $1,188,013 $1,686,177 $8,421,246 $-498,164
2021 $1,627,942 $1,010,846 $8,866,645 $617,096
2021 $1,627,942 $1,010,846 $8,866,645 $617,096
2020 $733,425 $1,015,886 $8,249,720 $-282,461
2019 $1,129,171 $1,709,247 $8,343,969 $-580,076
2018 $942,814 $1,536,748 $8,990,316 $-593,934
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