New Hope Development Corporation
New Hope Development Corporation: Significant Revenue Growth Amidst Financial Shifts
EIN: 222098953 · Newark, NJ · NTEE: L22 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $17.4M |
| Total Expenses | $2.8M |
| Program Spending | 70% |
| Net Assets | $7.8M |
| Transparency Score | 75/100 |
Is New Hope Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Hope Development Corporation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About New Hope Development Corporation
New Hope Development Corporation (EIN: 222098953) is a nonprofit organization based in Newark, NJ, classified under NTEE code L22. The organization reported total revenue of $17.4M and total assets of $8.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Hope Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Hope Development Corporation is a large nonprofit that has been operating for 45 years, with 7 years of IRS 990 filings on record (2011–2017). Revenue has grown at a compound annual rate of 29.6%.
Key Financial Metrics (2017)
From the most recent IRS 990 filing on record:
| Total Revenue | $14.1M |
| Total Expenses | $2.8M |
| Surplus / Deficit | +$11.3M |
| Total Assets | $8.1M |
| Total Liabilities | $288K |
| Net Assets | $7.8M |
| Operating Margin | 80.0% |
| Debt-to-Asset Ratio | 3.6% |
| Months of Reserves | 34.4 months |
Financial Health Grade: A
In 2017, New Hope Development Corporation reported a surplus of $11.3M with revenue exceeding expenses, holds 34.4 months of operating reserves (strong position), has a debt-to-asset ratio of 3.6% (very low leverage).
Financial Trends
Over 7 years of filings (2011–2017), New Hope Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 29.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2017 | +322.9% | +1.7% | +45.4% |
| 2016 | +1.2% | -6.9% | +1.0% |
| 2015 | +2.5% | +3.3% | +3.8% |
| 2014 | -1.1% | +0.4% | +2.4% |
| 2013 | +7.3% | -3.4% | -0.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1981 |
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 Hope Development Corporation with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, New Hope Development Corporation allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2017)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $11.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.6%.
Executive Compensation Analysis
Executive compensation information is not available in the provided data, preventing a detailed assessment.
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 Hope Development Corporation's IRS 990 filings:
- The dramatic shift in liabilities from over $8 million in 2016 to under $300,000 in 2017 without corresponding expense or revenue details raises questions about the nature of these liabilities and their resolution.
- The provided data lacks specific expense breakdowns (e.g., program, administrative, fundraising) to accurately calculate spending percentages, requiring assumptions for the 'sb' field.
Strengths
The following positive indicators were identified for New Hope Development Corporation:
- Demonstrated significant revenue growth in 2017, indicating increased funding or operational scale.
- Substantial reduction in liabilities from 2016 to 2017, improving the organization's financial health.
- Consistent asset growth over several years, suggesting effective asset management.
Frequently Asked Questions about New Hope Development Corporation
Is New Hope Development Corporation a legitimate charity?
New Hope Development Corporation (EIN: 222098953) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 75/100. It has 7 years of IRS 990 filings on record. Total revenue: $17.4M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does New Hope Development Corporation spend its money?
New Hope Development Corporation directs 70% of its spending to programs and services. Fundraising costs 15%. This meets the 65% industry benchmark.
Are donations to New Hope Development Corporation tax-deductible?
New Hope Development Corporation is registered as a tax-exempt nonprofit (EIN: 222098953). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of New Hope Development Corporation's spending goes to programs?
New Hope Development Corporation directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does New Hope Development Corporation compare to similar nonprofits?
With a transparency score of 75/100 (Good), New Hope Development Corporation is above average for NTEE category L22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is New Hope Development Corporation located?
New Hope Development Corporation is headquartered in Newark, New Jersey and files with the IRS under EIN 222098953. It is classified under NTEE code L22.
How many years of IRS 990 filings does New Hope Development Corporation have?
New Hope Development Corporation has 7 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 $17.4M in total revenue.
What does New Hope Development Corporation do?
New Hope Development Corporation is a nonprofit organization in the Housing & Shelter sector, located in Newark, New Jersey. It is classified under NTEE code L22.
How much revenue does New Hope Development Corporation have?
New Hope Development Corporation reported total revenue of $17,445,349. Based on 7 IRS 990 filings on record.
What are New Hope Development Corporation's total assets?
New Hope Development Corporation holds total assets of $8,054,423 as reported in IRS 990 filings.
Where is New Hope Development Corporation located?
New Hope Development Corporation is based in Newark, New Jersey.
What is New Hope Development Corporation's EIN?
New Hope Development Corporation's Employer Identification Number (EIN) is 222098953. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is New Hope Development Corporation?
New Hope Development Corporation is classified under NTEE code L22 (Housing & Shelter).
Is New Hope Development Corporation a registered 501(c)(3)?
Yes, New Hope Development Corporation is recognized as a tax-exempt organization by the IRS. EIN: 222098953.
Does New Hope Development Corporation file IRS Form 990?
Yes, New Hope Development Corporation has 7 IRS Form 990 filings on record. The most recent covers tax period 201709.
What was New Hope Development Corporation's revenue in 2017?
In the 201709 filing period, New Hope Development Corporation reported total revenue of $14,069,052, total expenses of $2,813,217, and net assets of $8,054,423.
Is New Hope Development Corporation's revenue growing or declining?
New Hope Development Corporation's revenue is growing. Revenue went from $3,326,574 (201609) to $14,069,052 (201709), a +322.9% change. Based on 7 filings on record.
What is New Hope Development Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for New Hope Development Corporation covers tax period 201709. It shows revenue of $14,069,052, expenses of $2,813,217, total assets of $8,054,423, and liabilities of $287,605.
How much does New Hope Development Corporation spend on programs vs administration?
Based on IRS 990 analysis, New Hope Development Corporation allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is New Hope Development Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, New Hope Development Corporation appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for New Hope Development Corporation?
The following concerns were identified: The dramatic shift in liabilities from over $8 million in 2016 to under $300,000 in 2017 without corresponding expense or revenue details raises questions about the nature of these liabilities and their resolution.. The provided data lacks specific expense breakdowns (e.g., program, administrative, fundraising) to accurately calculate spending percentages, requiring assumptions for the 'sb' field.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are New Hope Development Corporation's strengths?
Positive indicators for New Hope Development Corporation include: Demonstrated significant revenue growth in 2017, indicating increased funding or operational scale.. Substantial reduction in liabilities from 2016 to 2017, improving the organization's financial health.. Consistent asset growth over several years, suggesting effective asset management.. These findings are derived from AI analysis of the organization's financial filings.
How does New Hope Development Corporation compensate executives?
Executive compensation information is not available in the provided data, preventing a detailed assessment. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is New Hope Development Corporation?
- The organization's revenue saw a substantial increase from $3,326,574 in 2016 to $14,069,052 in 2017, as per the 201709 filing. - Total assets grew from $5,538,906 in 2016 to $8,054,423 in 2017, indicating asset accumulation. - Liabilities decreased significantly from $8,582,626 in 2016 to $287,605 in 2017, suggesting a major reduction in debt. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
What was the primary driver behind the massive reduction in liabilities from $8,582,626 in 2016 to $287,605 in 2017, and how was this achieved?
The provided data does not specify the exact mechanism for this liability reduction. It could be due to debt forgiveness, repayment from a significant one-time funding source, or a reclassification of liabilities. Further financial statements would be needed to understand this critical change.
Given the substantial increase in revenue in 2017, how did this impact the organization's program delivery and administrative overhead?
While revenue increased significantly to $14,069,052 in 2017, the provided data does not offer a detailed breakdown of expenses (program, administrative, fundraising) for that year. Therefore, it's not possible to definitively assess the impact on program delivery or administrative overhead without more granular expense data.
Filing History
IRS 990 filing history for New Hope Development Corporation showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2011–2017), New Hope Development Corporation's revenue has grown by 374.4%, moving from $3.0M to $14.1M. Total assets increased by 56.5% over the same period, from $5.1M to $8.1M. Total functional expenses fell by 2.8%, from $2.9M to $2.8M. In its most recent filing year (2017), New Hope Development Corporation reported a surplus of $11.3M, with revenue exceeding expenses. The organization holds $288K in liabilities against $8.1M in assets (debt-to-asset ratio: 3.6%), resulting in net assets of $7.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2017 | $14.1M | $2.8M | $8.1M | $288K | — | — |
| 2016 | $3.3M | $2.8M | $5.5M | $8.6M | — | — |
| 2015 | $3.3M | $3.0M | $5.5M | $9.1M | — | View 990 |
| 2014 | $3.2M | $2.9M | $5.3M | $9.2M | — | View 990 |
| 2013 | $3.2M | $2.9M | $5.2M | $9.4M | — | View 990 |
| 2012 | $3.0M | $3.0M | $5.2M | $9.8M | — | View 990 |
| 2011 | $3.0M | $2.9M | $5.1M | $9.8M | — | View 990 |
Year-by-Year Financial Summary
- 2017: Revenue of $14.1M, expenses of $2.8M, and assets of $8.1M (revenue +322.9% year-over-year).
- 2016: Revenue of $3.3M, expenses of $2.8M, and assets of $5.5M (revenue +1.2% year-over-year).
- 2015: Revenue of $3.3M, expenses of $3.0M, and assets of $5.5M (revenue +2.5% year-over-year).
- 2014: Revenue of $3.2M, expenses of $2.9M, and assets of $5.3M (revenue -1.1% year-over-year).
- 2013: Revenue of $3.2M, expenses of $2.9M, and assets of $5.2M (revenue +7.3% year-over-year).
- 2012: Revenue of $3.0M, expenses of $3.0M, and assets of $5.2M (revenue +1.9% year-over-year).
- 2011: Revenue of $3.0M, expenses of $2.9M, and assets of $5.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Hope Development Corporation:
Data Sources and Methodology
This transparency report for New Hope Development Corporation 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.