New Covenant Community Development Corp
New Covenant Community Development Corp consistently directs all funds to programs with no officer compensation.
EIN: 134167577 · Bronx, NY · NTEE: P20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.0M |
| Total Expenses | $1.7M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1.6 |
| Net Assets | $101K |
| Transparency Score | 92/100 |
Is New Covenant Community Development Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Covenant Community Development Corp directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Covenant Community Development Corp
New Covenant Community Development Corp (EIN: 134167577) is a nonprofit organization based in Bronx, NY, classified under NTEE code P20. The organization reported total revenue of $2.0M and total assets of $66K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Covenant Community Development Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Covenant Community Development Corp is a mid-size nonprofit that has been operating for 17 years, with 6 years of IRS 990 filings on record (2018–2023). Revenue has grown at a compound annual rate of 18.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.7M |
| Surplus / Deficit | +$16K |
| Total Assets | $103K |
| Total Liabilities | $2K |
| Net Assets | $101K |
| Operating Margin | 1.0% |
| Debt-to-Asset Ratio | 1.5% |
| Months of Reserves | 0.7 months |
Financial Health Grade: A
In 2023, New Covenant Community Development Corp reported a surplus of $16K with revenue exceeding expenses, holds 0.7 months of operating reserves (limited), has a debt-to-asset ratio of 1.5% (very low leverage).
Financial Trends
Over 6 years of filings (2018–2023), New Covenant Community Development Corp's revenue has grown at a compound annual growth rate (CAGR) of 18.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +52.8% | +51.3% | +3.9% |
| 2022 | -4.5% | -6.1% | +1.7% |
| 2021 | +27.0% | +33.2% | -19.2% |
| 2020 | +68.4% | +64.8% | +56.5% |
| 2019 | -24.8% | -25.4% | +294.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates New Covenant Community Development Corp with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, New Covenant Community Development Corp allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $16K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive salaries from the organization, which is highly unusual for an organization with revenues exceeding $1.6 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of New Covenant Community Development Corp's IRS 990 filings:
- No officer compensation reported for an organization with over $1.6M in revenue, which could indicate reliance on volunteers or external funding for leadership, or that compensation is reported differently (e.g., through a related entity) not visible on the 990.
Strengths
The following positive indicators were identified for New Covenant Community Development Corp:
- Consistent 0% officer compensation across all filings, indicating high dedication of funds to programs.
- Significant revenue growth from $534,149 in 201906 to $1,666,622 in 202306, demonstrating increasing support and impact.
- High program spending efficiency, with expenses closely matching revenue, suggesting minimal overhead and direct application of funds.
- Lean asset base relative to revenue, indicating funds are primarily used for immediate program delivery rather than accumulation.
- Consistent filing history, demonstrating transparency and compliance with IRS regulations.
Frequently Asked Questions about New Covenant Community Development Corp
Is New Covenant Community Development Corp a legitimate charity?
New Covenant Community Development Corp (EIN: 134167577) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 92/100. It has 6 years of IRS 990 filings on record. Total revenue: $2.0M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does New Covenant Community Development Corp spend its money?
New Covenant Community Development Corp directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to New Covenant Community Development Corp tax-deductible?
New Covenant Community Development Corp is registered as a tax-exempt nonprofit (EIN: 134167577). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the New Covenant Community Development Corp CEO make?
New Covenant Community Development Corp's highest-compensated officer earns $1.6 annually. The organization reported $2.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of New Covenant Community Development Corp's spending goes to programs?
New Covenant Community Development Corp directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does New Covenant Community Development Corp compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), New Covenant Community Development Corp is above average for NTEE category P20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is New Covenant Community Development Corp located?
New Covenant Community Development Corp is headquartered in Bronx, New York and files with the IRS under EIN 134167577. It is classified under NTEE code P20.
How many years of IRS 990 filings does New Covenant Community Development Corp have?
New Covenant Community Development Corp has 6 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.0M in total revenue.
Is New Covenant Community Development Corp a good charity?
Based on the available IRS 990 data, New Covenant Community Development Corp appears to be a very good charity. It consistently reports 0% officer compensation, indicating that all funds are directed towards its mission. Its program spending is high, and it has shown consistent revenue growth, suggesting effective program delivery and community support.
How has the organization's revenue grown over time?
New Covenant Community Development Corp has experienced significant revenue growth, increasing from $534,149 in 201906 to $1,666,622 in 202306, demonstrating a nearly threefold increase in four years.
What is the organization's approach to executive compensation?
The organization's approach to executive compensation is highly transparent and mission-focused, with 0% officer compensation reported across all six available filings. This means no officers are paid salaries from the organization's funds.
Filing History
IRS 990 filing history for New Covenant Community Development Corp showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2018–2023), New Covenant Community Development Corp's revenue has grown by 134.8%, moving from $710K to $1.7M. Total assets increased by 427.2% over the same period, from $19K to $103K. Total functional expenses rose by 132.5%, from $710K to $1.7M. In its most recent filing year (2023), New Covenant Community Development Corp reported a surplus of $16K, with revenue exceeding expenses. The organization holds $2K in liabilities against $103K in assets (debt-to-asset ratio: 1.5%), resulting in net assets of $101K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.7M | $103K | $2K | — | View 990 |
| 2022 | $1.1M | $1.1M | $99K | $14K | — | View 990 |
| 2021 | $1.1M | $1.2M | $97K | $12K | — | View 990 |
| 2020 | $899K | $872K | $120K | $16K | — | View 990 |
| 2019 | $534K | $529K | $77K | $0 | — | View 990 |
| 2018 | $710K | $710K | $19K | $5K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.7M, and assets of $103K (revenue +52.8% year-over-year).
- 2022: Revenue of $1.1M, expenses of $1.1M, and assets of $99K (revenue -4.5% year-over-year).
- 2021: Revenue of $1.1M, expenses of $1.2M, and assets of $97K (revenue +27.0% year-over-year).
- 2020: Revenue of $899K, expenses of $872K, and assets of $120K (revenue +68.4% year-over-year).
- 2019: Revenue of $534K, expenses of $529K, and assets of $77K (revenue -24.8% year-over-year).
- 2018: Revenue of $710K, expenses of $710K, and assets of $19K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Covenant Community Development Corp:
Data Sources and Methodology
This transparency report for New Covenant Community Development Corp is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.