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Nonprofit · EIN 22-1911104

NEW COMMUNITY CORPORATION

Tax-exempt · NEWARK, NJ 07103

Financials

$14M$13.9M2023$15.3M$13.9M2024
Revenue Expenses · by fiscal year end
Financials of NEW COMMUNITY CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$15,303,744$13,860,974$1,442,770$92,357,967$5,562,319$86,795,648
December 31, 2023990$13,992,475$13,944,564$47,911$91,490,312$7,438,527$84,051,785
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$999,858
of which government grants
$377,770
Program service revenue
$10,087,648
Investment income
$4,101,937
Net rental income
$31,100
Net gain from sales of assets
$1,420,902
Other revenue
$114,301

Expenses

Grants and similar amounts paid
$1,238,389
Compensation of officers, directors and key employees
$533,289
Other salaries and wages
$6,209,684
Salaries, compensation and benefits (total)
$8,461,337
Professional fundraising fees
$0
Legal fees
$64,137
Accounting fees
$110,196
Occupancy
$481,195
Depreciation
$77,243
Program services (functional)
$11,844,943
Management and general (functional)
$2,016,031

Balance sheet and other

Total assets, start of year
$91,490,312
Total assets, end of year
$92,357,967
Total liabilities, end of year
$5,562,319
Net assets, end of year
$86,795,648
Land, buildings and equipment
$929,050
Publicly traded securities
$32,674,240
Net assets without donor restrictions
$86,795,648
Gross receipts
$16,988,561
Employees
325
Volunteers
0
Year formed
1968
State of legal domicile
NJ

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
SIMONE GAGNERONECHIEF EXECUTIVE OFFICER
Officer
40$277,196$7,737
ELIZABETH MBAKAYACHIEF FINANCIAL OFFICER
Officer
40$188,500$0
Richard RohrmanCEO-Former
Former
1$104,673$0
MADGE WILSONEMERITA
Trustee or director
40$56,136$3,720
EDGAR NEMORININTERIM CHAIRMAN AND TREASURER
Trustee or director, Officer
1$0$0
NEWTON RICHARDSSECRETARY
Trustee or director, Officer
1$0$0
DR ZACHARY YAMBAEMERITA
Trustee or director
1$0$0
BARRY BAKERBOARD MEMBER
Trustee or director
1$0$0
DIANE JOHNSONBOARD MEMBER
Trustee or director
1$0$0
FERNANDO COLONBOARD MEMBER
Trustee or director
1$0$0
ANTHONY MARCHETTABOARD MEMBER
Trustee or director
1$0$0
JEROME ST JOHNBOARD MEMBER
Trustee or director
1$0$0
990 for the year ended December 31, 2023: 16 people
NameTitleHours / weekCompensationOther / benefits
SIMONE GANGNERONECHIEF EXECUTIVE OFFICER
Officer
40$275,330$7,693
ELIZABETH MBAKAYACHIEF FINANCIAL OFFICER
Officer
40$174,498$0
FRED HUNTERCOO - TERMINATED
Officer
40$127,833$3,000
RICHARD ROHRMANCEO - FORMER
Former
1$122,193$0
WINTON TOLLESDIR OF RE DEVELOPMENT-RETIRED
Officer
40$66,365$0
MADGE WILSONBOARD MEMBER
Trustee or director
40$55,688$3,720
DIANE JOHNSONBOARD MEMBER
Trustee or director
1$1,800$0
DR ZACHARY YAMBAPRESIDENT
Trustee or director, Officer
1$0$0
EDGAR NEMORINTREASURER
Trustee or director, Officer
1$0$0
NEWTON RICHARDSSECRETARY
Trustee or director, Officer
1$0$0
BARRY BAKERBOARD MEMBER
Trustee or director
1$0$0
MIGDALIA MARTINEZBOARD MEMBER
Trustee or director
1$0$0
FERNANDO COLONBOARD MEMBER
Trustee or director
1$0$0
ANTHONY MARCHETTABOARD MEMBER
Trustee or director
1$0$0
JEROME ST JOHNBOARD MEMBER
Trustee or director
1$0$0
INGRID RASMUSSENBOARD MEMBER
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
233 W MARKET ST, NEWARK, NJ 07103-2713
In care of
% ELIZABETH MBAKAYA
Principal officer (990 for 2024)
SIMONE GAGNERONE, 233 West Market Street, Newark, NJ 07103
Signed the 990
SIMONE GAGNERONE, CEO
Phone
(973) 623-2800
Return prepared by
WithumSmithBrown PC

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.

990 for the year ended December 31, 2024

Program accomplishments

  • 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.
    Expenses $11,844,943 · grants $1,238,389 · revenue $10,087,648

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
22-1911104
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1974
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$92,357,967
Income (IRS master file)
$16,988,561

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$15,303,744$13,860,974$92,357,967IRS
990December 2023$13,992,475$13,944,564$91,490,312XML
990December 2022$13,153,735$13,661,940$87,121,192IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 22-1911104).

Questions about NEW COMMUNITY CORPORATION

What is the EIN of NEW COMMUNITY CORPORATION?
The employer identification number (EIN) of NEW COMMUNITY CORPORATION is 22-1911104.
Is NEW COMMUNITY CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1974.
Are donations to NEW COMMUNITY CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does NEW COMMUNITY CORPORATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of NEW COMMUNITY CORPORATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did NEW COMMUNITY CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of NEW COMMUNITY CORPORATION?
The 990 for the year ended December 31, 2024 names SIMONE GAGNERONE.
Who are the officers and directors of NEW COMMUNITY CORPORATION?
The 990 for the year ended December 31, 2024 lists 12 people; 4 received compensation from the organization, the highest $277,196 (SIMONE GAGNERONE, CHIEF EXECUTIVE OFFICER).
How much revenue does NEW COMMUNITY CORPORATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $15,303,744, expenses of $13,860,974 and total assets of $92,357,967 at year end.

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