New Community Project Inc
Nonprofit profile at a glance
- EIN
- 881121024
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024, Form 990-EZ 2023
- Location
- Bronx, NY, USA
- Phone
- 9738011496
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Youth Development Programs
Reported finances
- Revenue
- $516,180
- Expenses
- $334,551
- Assets
- $286,509
- Liabilities
- $19,014
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- Chidi Asoluka (Founder and CEO)
Highest reported compensation
- Chidi Asoluka (Founder and CEO): $75,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
NewComm is an educational organization providing academic enrichment, college preparation, and leadership development services to low income high school students through project-based learning and community engagement
What it reported doing in 2024
NewComm is a learning community of Fellows and Members that supports high school students in using core academic subjects-literary analysis and mathematics-to design and implement $10,000 community projects. Over two years, our students have impacted 300+ people through their community work. The program begins with a four-week summer institute combining literary analysis, data study, and fieldwork, . Students study literary works to explore societal challenges and apply these insights to real-world contexts through our "literary science" approach. Throughout the year, students participate in monthly design studios, virtual math roundtables, and SAT preparation programming-with students averaging 200-point increases in their first year of operation. They receive stipends and mentorship to execute their projects and prepare for college. The Net Gala connects 100 NYC students with 50 industry professionals, facilitating networking, mentorship, and discussions about healthcare careers. Students bring resumes and explore internship opportunities, fostering relationships that influence their future paths. The NewComm Supper Club is an intimate, invitation-only dinner series where Fellows and Members engage in rich dialogue with industry professionals over shared meals. Designed to blur the lines between mentorship, networking, and education, each Supper Club centers around themes that connect student interests with real-world expertise.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 57
- Transparency & Controls: 70
- Accountability: 90
- Sustainability: 59
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 47%; rating input score 47
- Program expense ratio: 72.6%; rating input score 73
- Fundraising efficiency: $17.54 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: Pass
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 35.2%; rating input score 87; 87th percentile among comparable filings
- Total-asset coverage ratio: 0.86; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
- Officer compensation ratio: 22.4%; rating input score 12; 12th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 75.5% per year; rating input score 100; 98th percentile among comparable filings
- Asset growth: 72.8% per year; rating input score 100; 98th percentile among comparable filings
Details
- Where the money goes: 47% of revenue deployed · 72.6% of spending went to programs
- Governance: 4 of 4 board members independent · 6 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $243K in reported program spending
- Leadership: top reported pay $75K · 8 people listed · 1 of 6 pay-setting controls reported
- Consistency: 25 of 25 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 1 filing year from 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 47/100.
- Review — Financial Efficiency: Fundraising efficiency scored 55/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
- High — Sustainability: Officer compensation ratio scored 12/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 48/100.