Overview
What is New Opportunities Inc?
New Opportunities Inc, based in Waterbury, Connecticut, is a nonprofit organization dedicated to enhancing the lives of economically disadvantaged individuals. Their mission encompasses a range of energy programs, which include Connecticut Energy Assistance Program, Water Assistance Program, and Weatherization Services. These initiatives provide crucial utility assistance for both low-income renters and homeowners, ensuring they have access to essential heating and water services. Through the Weatherization Services, households reduce their energy consumption by implementing energy-saving improvements. New Opportunities Inc's employee roster consists of 342 individuals, all committed to making a difference in their community. Their combined efforts aim to improve the quality of life for economically disadvantaged individuals, fostering self-improvement and empowerment.
Official website here: www.newoppinc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Stars)
New Opportunities Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance, as well as in culture and community. The organization boasts an impressive Accountability & Finance score of 83% and excels with 100% independent board members and strong financial oversight, reflected in their perfect score for financial statements and material asset diversion. Their program expense ratio is notably high at 95.66%, which illustrates a strong commitment to directing funds towards their mission.
On the cultural and community front, New Opportunities Inc scored a perfect 100%. This reflects their effective feedback collection and usage practices, which are crucial for enhancing their services and community engagement. Additionally, their comprehensive equity strategies and policies demonstrate a commitment to inclusivity and equitable practices within the organization.
While the ratings indicate a robust structure and operational integrity, the limited focus on community metrics compared to finance may suggest an area for potential growth. Nevertheless, the high scores in accountability and community culture indicate that New Opportunities Inc is successfully fulfilling its mission while maintaining transparency and responsiveness to both its programs and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is New Opportunities Inc legitimate?
New Opportunities Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Opportunities Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $803,804
Professional Fundraising Fees: $0
Other Salaries and Wages: $8,791,327
For more financial information, click here
Official website here: www.newoppinc.org
What is the mission statement of New Opportunities Inc?
New Opportunities Inc is dedicated to enhancing the lives of economically disadvantaged individuals. Their mission is to provide essential resources that raise living standards, encourage self-improvement, and foster self-empowerment. The organization offers various programs to help achieve these goals.
One of their initiatives includes energy assistance programs. These programs, such as Connecticut Energy Assistance and Water Assistance, offer aid to low-income renters and homeowners, assisting them with their utility bills. In the previous year, 41,585 individuals received assistance through these programs. Additionally, Weatherization Services are available to help households decrease their energy consumption, benefiting 213 households. By offering these programs, New Opportunities Inc aims to make a significant impact on the lives of those in need.
Official website here: www.newoppinc.org
Who is the CEO of New Opportunities Inc?
Mr William Rybczyk is the Chairperson of New Opportunities Inc. The CEO's salary of New Opportunities Inc is $192,760 and their total compensation is $206,138.
Official website here: www.newoppinc.org
What is the revenue of New Opportunities Inc?
New Opportunities Inc's revenue in 2022 was $47,240,865.
Official website here: www.newoppinc.org
Who are the executives of New Opportunities Inc and what are their salaries?
The average compensation at New Opportunities Inc during 2022 was $28,056. There are 342 employees and 296 volunteers at New Opportunities Inc.
Here are 22 key members and their salaries (New Opportunities Inc's CEO's salary is $192,760 and their total compensation is $206,138):
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- Compensation: $187,372
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- Compensation: $192,760
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- Other: $4,559
- Compensation: $213,713
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- Other: $12,665
Official website here: www.newoppinc.org
Where can I find the form 990 for New Opportunities Inc?
New Opportunities Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newoppinc.org
Learn more at the official website: www.newoppinc.org
Mission Statement of New Opportunities Inc
New Opportunities Inc is a mission-driven organization dedicated to enhancing the living standards of economically disadvantaged individuals. By providing essential resources, this nonprofit fosters self-improvement and empowers individuals to maximize their potential.
One of New Opportunities Inc's key initiatives includes its energy programs. These programs encompass the Connecticut Energy Assistance Program, Water Assistance Program, and Weatherization Services. The Connecticut Energy and Water Assistance Programs offer aid to low-income renters and homeowners, assisting them in meeting their heating and water utility bills. A significant number of people, 41,585, have benefited from this program. Weatherization Services, another essential component of the energy programs, assists households in reducing their energy consumption. Approximately 213 households have successfully decreased their home energy consumption by utilizing these services.
In essence, New Opportunities Inc transforms lives by providing vital resources that enable economically disadvantaged individuals to improve their quality of life. By addressing their energy needs through energy assistance programs and weatherization services, this nonprofit empowers individuals to focus on their personal growth and self-sufficiency.
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Impact
October, 2024
New Opportunities Inc has made a significant impact on the lives of economically disadvantaged individuals by enhancing their quality of life through targeted energy assistance programs. By providing vital support through the Connecticut Energy Assistance Program, Water Assistance Program, and weatherization services, they have enabled over 41,000 people to receive help with their utility bills, ensuring that low-income renters and homeowners can maintain essential services like heat and water.
Additionally, their weatherization services have contributed to sustainability and cost savings, with 213 households achieving a decrease in energy consumption. This not only alleviates financial burdens but also fosters self-empowerment and encourages self-improvement among community members. New Opportunities Inc's commitment to improving living standards and providing necessary resources plays a crucial role in maximizing opportunities for those in need, ultimately fostering a healthier and more secure community in Waterbury, CT.
This information is meant to be a general summary of New Opportunities Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$698,082
- Program Service Revenue: $1,304,455
- Gross Receipts: $47,963,256
Assets and Liabilities:
- Total Assets: $13,509,007
- Total Liabilities: $13,738,070
- Net Assets: -$229,063
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM REVENUE
Revenue
$1,158,875
PROGRAM REVENUE - RENTAL
Revenue
$145,580
Organization Details
Founding Year
1964
Phone
(203) 575-9799Principal Officer
Mr William Rybczyk
Main Address
232 NORTH ELM STREET, WATERBURY, CT, 06702
Website
www.newoppinc.orgNTEE Category
Code: P20 - Human services
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