NEW COMMUNITY PROJECT INC (EIN 881121024) - Form 990 Financial Analysis & Trantor Score

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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

2022

Legal Domicile

Principal Officer

Chidi Asoluka

Phone

9738011496

Tax Period

2024-01-01 to 2024-12-31

NEW COMMUNITY PROJECT INC, founded in 2022, is a small nonprofit in the Youth Development sector that reported $516K in total revenue in fiscal year 2024. Revenue surged 189% from the prior year, signaling strong growth momentum. The organization ran a surplus of $182K, a strong 35% operating margin.

Mission

NewComm is a 501(c)(3) educational nonprofit organization that operates a curated learning community for high school students from low income communities. The organization provides academic support, leadership development, and college preparation through community impact projects, mentorship, and partnerships with local companies.

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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 (2024)

Revenue Breakdown

Contributions & Grants $516,180

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $516,180

Expense Breakdown

Grants Paid $0

Salaries & Benefits $102,293

Fundraising Expenses $29,432

Program Expenses $242,772

Other Expenses $232,258

TOTAL EXPENSES $334,551

Year-over-Year Comparison

	2024	2023	Change
Revenue	$516,180	$178,478	+1.9%
Expenses	$334,551	$149,933	+1.2%
Net Income	$181,629	$28,545	+5.4%

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

$75,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Chidi Asoluka	Founder and CEO	30.00	Officer	$75,000	$0	$75,000
Ofunne Edoziem	Founding Board Member and Secretary	1	Director	$0	$0	$0
Alex Brunson	Board Member	1	Director	$0	$0	$0
Margo Alexandra Boykins	Board Member	1	Director	$0	$0	$0
Mim Richardson	Board Member	1	Director	$0	$0	$0
Benito Piuzzi	Board Chair	1	Director	$0	$0	$0
Lizabeth Murphy	Board Member	1	Director	$0	$0	$0
Gina Monahan	Board Member	1	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	$516,180	$334,551	$286,509	$181,629
2024	$370,800	$322,037	$141,379	$48,763

NEW COMMUNITY PROJECT INC