NEW HORIZONS AFFORDABLE HOUSING & DEVELOPMENT INC

EIN: 851207604 501(c)(3) Housing & Shelter

CAPITOLA, CA

Total Revenue
$12,935,994
Total Expenses
$5,060,806
Total Assets
$45,754,879
Net Assets
$15,399,779
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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
2019
Legal Domicile
CA
Principal Officer
JENNIFER PANETTA
Phone
8314545908
Tax Period
2024-07-01 to 2025-06-30

NEW HORIZONS AFFORDABLE HOUSING & DEVELOPMENT INC, founded in 2019, is a mid-sized nonprofit in the Housing & Shelter sector that reported $12.9M in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $7.9M, a strong 61% operating margin.

Mission

TO ACQUIRE, PROVIDE, DEVELOP, FINANCE, REHABILITATE, OWN AND OPERATE DECENT, SAFE AND SANITARY HOUSING AFFORDABLE TO PERSONS AND HOUSEHOLDS OF LOW INCOME.

Program Service Accomplishments

Program 1
Expenses: $2,895,448 Revenue: $11,037,794

TO PROVIDE AFFORDABLE HOUSING TO PERSONS AND HOUSEHOLDS OF LOW INCOME.

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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 $550,000
Program Service Revenue $11,037,794
Investment Income $1,348,200
Other Revenue $0
TOTAL REVENUE $12,935,994

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,895,448
Other Expenses $5,060,806
TOTAL EXPENSES $5,060,806

Year-over-Year Comparison

2024 2023 Change
Revenue $12,935,994 $10,319,828 +0.3%
Expenses $5,060,806 $2,952,537 +0.7%
Net Income $7,875,188 $7,367,291 +0.1%
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

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Governance

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

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
2
$424,665
Total Directors
10
$471,041
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JENNIFER PANETTA EXECUTIVE DIRECTOR 1.00
Officer Director
$0 $0 $299,752
AARON POMEROY FINANCE DIRECTOR 1.00
Officer Director
$0 $0 $124,913
ANDY SCHIFFRIN COMMISSIONER 1.00
Director
$0 $0 $0
CAROL BERG COMMISSIONER 1.00
Director
$0 $0 $0
ANNETTE MELENDREZ VICE CHAIRPERSON 1.00
Director
$0 $0 $0
LIGAYA ELIGIO COMMISSIONER 1.00
Director
$0 $0 $0
RICHARD SCHMALE COMMISSIONER 1.00
Director
$0 $0 $0
PROVIDENCE MARTINEZ ALANIZ CHAIRPERSON 1.00
Director
$0 $0 $0
SILVIA MORALES COMMISSIONER 1.00
Director
$0 $0 $0
MARSHALL CROCKETT FINANCE DIRECTOR 1.00
Director
$0 $0 $46,376
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 $12,935,994 $5,060,806 $45,754,879 $7,875,188
2024 $10,319,828 $2,952,537 $45,527,066 $7,367,291
2023 $8,304,261 $2,601,533 $22,256,941 $5,702,728
2022 $8,342,325 $2,349,570 $16,155,960 $5,992,755
2021 $4,091,369 $1,173,165 $10,168,170 $2,918,204
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