New Neighborhoods Inc

Nonprofit profile at a glance

EIN
060864050
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Stamford, CT, USA
Phone
2033592215
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$10,411,926
Expenses
$12,439,101
Assets
$52,251,204
Liabilities
$50,576,700

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • WILLIAM J HEALY II (PRESIDENT/CEO)

Highest reported compensation

  • WILLIAM J HEALY II (PRESIDENT/CEO): $391,177 total reported compensation
  • JEROME FLOYD (OPERATIONS DIRECTOR): $207,315 total reported compensation
  • LONG CHEN (CHIEF FINANCIAL OFFICER): $193,474 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

New neighborhoods, inc.'s purpose is to develop, redevelop, own and manage quality housing for low and moderate income persons and families and to work to assist in the planning, re-planning, development and improvement of low and moderate income communities in Connecticut, with a focus on low fairfield county.

What it reported doing in 2025

New neighborhoods is an owner of several real estate companies and partnerships which own over 440 units which are rented to low and moderate income individuals and families, which include supportive, veteran and senior units in stamford, norwalk and danbury, ct.

Operating model

Revenue model
Earned-program. 85% of the money available for current operations came from fees and other program revenue.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 78
  • Accountability: 100
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.6%; rating input score 93
  • Program expense ratio: 77.1%; rating input score 77
  • Fundraising efficiency: $5.9 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 16th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -19.5%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 4.2; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.97; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 11.1%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 9.4% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 7.8% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 7.9% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 92.6% of revenue deployed · 77.1% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $9.6M in reported program spending
  • Leadership: top reported pay $391K · 17 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 39 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Financial Efficiency: Fundraising efficiency scored 17/100.
  • High — Sustainability: Operating margin scored 3/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.