New Community Corporation

Nonprofit profile at a glance

EIN
221911104
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Newark, NJ, USA
Phone
9736232800
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$15,303,744
Expenses
$13,860,974
Assets
$92,357,967
Liabilities
$5,562,319

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • SIMONE GAGNERONE (CHIEF EXECUTIVE OFFICER)
  • Richard Rohrman (CEO-Former)

Highest reported compensation

  • SIMONE GAGNERONE (CHIEF EXECUTIVE OFFICER): $284,933 total reported compensation
  • ELIZABETH MBAKAYA (CHIEF FINANCIAL OFFICER): $188,500 total reported compensation
  • Richard Rohrman (CEO-Former): $104,673 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

New community corporation's mission is to help residents of inner cities improve the quality of their lives to reflect individual god-given dignity and personal achievement. Founded in 1968, ncc is recognized as one of the largest, most comprehensive community development corporations in the u.s. Our vast array of services are provided "under one roofreach every stage of life. We offer affordable housing, early childhood learning centers, youth services, adult education, family transitional housing, mental health services, a long-term care facility, a one-stop resource center, a food pantry, a community newsletter and arts and cultural events.

What it reported doing in 2024

New Community Corporation provides management and additional resource support to over 1,700 low- to moderate-income units of affordable housing. Through a comprehensive community development approach, residents' needs are met to help them achieve permanent housing, employment, access to quality education, and access to quality healthcare services. New Community Corporation provides management and additional resource support to its affiliate New Community Healthcare Inc. New Community Healthcare provides the highest quality of nursing care 24 hours a day, seven days a week. It has a team of experienced professionals who provide around-the-clock nursing care to all residents, including those in advanced stages of illness. The 180-bed skilled nursing facility offers long-term care for senior citizens and the disabled and provides short-term subacute rehabilitation care, with a dedicated 30-bed subacute unit. The team consists of board-certified attending physicians plus a multitude of consultant physicians specializing in dentistry, optometry, podiatry, psychiatry, psychology, and surgery. New Community Healthcare also offers hospice and respite care, X-ray, and laboratory services on site. New Community Corporation provides management support to its affiliate Harmony House, which shelters homeless families and individuals with disabilities and chronic homelessness. Harmony House has served as a stable housing resource for over 17,000 families in Essex County, NJ. Its primary goal is to help families move from homelessness to permanent housing and from dependency to self-sufficiency. With the capacity to house 102 families in individual apartment units and a host of on-site social services, Harmony House provides much more than a shelter. It offers stability to families facing seemingly insurmountable barriers and enables them to restore their lives.

Operating model

Revenue model
Earned-program. 73% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 90% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 74
  • Accountability: 76
  • Sustainability: 73
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.5%; rating input score 82
  • Program expense ratio: 85.5%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 80.8%; rating input score 81; 17th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 66.7%; rating input score 67; 11th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.4%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 6.66; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 4.6%; rating input score 54; 54th percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -1.7% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 5.8% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 81.5% of revenue deployed · 85.5% of spending went to programs
  • Governance: 6 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $11.8M in reported program spending
  • Leadership: top reported pay $285K · 12 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.7M reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 53 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 54/100.