Overview
What is Newsed Community Development Corp Inc?
Newsed Community Development Corp Inc, established in Denver, Colorado, is a nonprofit organization primarily focused on housing development. Over the past three decades, they have purchased, repaired, and resold formerly foreclosed homes to income-eligible households, contributing to the renovation of over 650,000 square feet of housing and retail/commercial real estate in the area. Their mission extends beyond housing, aiming to combat discrimination in the housing sector, enhance the economic, educational, cultural, and social well-being of the local residents in Denver. With a team of 14 dedicated individuals, Newsed Community Development Corp Inc plays a significant role in improving living conditions and fostering community development in Denver.
Official website here: www.newsed.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
Newsed Community Development Corp Inc has received an overall score of 82%, indicating a solid performance in various operational aspects. The organization excels particularly in Accountability & Finance with a score of 93%. Notable strengths include its fully independent board, effective financial management, and robust policies in place for conflict of interest, whistleblowing, and document retention.
The organization's program expense ratio is impressive at 76.11%, reflecting its commitment to utilizing funds for programmatic purposes rather than administrative costs. Furthermore, it scored a perfect 100% in the Culture & Community category, showcasing its dedication to feedback collection and usage, ensuring that community voices are heard and acted upon.
However, a noted limitation is the challenge in collecting feedback from the community, which may affect the organization's ability to gauge public sentiment fully. Despite this hurdle, Newsed Community Development Corp Inc demonstrates strong governance and financial practices, making it a commendable choice for donors seeking to support community development initiatives.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Newsed Community Development Corp Inc?
98% of 13 reviewers on Facebook recommend Newsed Community Development Corp Inc. Here is a summary of their reviews:
Overall, the sentiments expressed by the users indicate a high level of satisfaction with the nonprofit. Many praise the organization for its integrity, describing the staff as great, honest, and trustworthy. This strong endorsement reflects the positive impact they believe the nonprofit has on the community.
The consistent theme among the reviews highlights a deep trust in the organization’s mission and operations, suggesting that those involved feel confident in the services provided by Newsed Community Development Corp Inc.
This AI summary has been generated from reviews found on Facebook.
Is Newsed Community Development Corp Inc legitimate?
Newsed Community Development Corp Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Newsed Community Development Corp 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: $95,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $463,269
For more financial information, click here
Official website here: www.newsed.org
What is the mission statement of Newsed Community Development Corp Inc?
The Newsed Community Development Corp Inc was established with the objective of creating opportunities for low-income housing, combating discrimination in the housing sector, and enhancing the economic, educational, cultural, and social status of the community. The corporation achieves this by purchasing, repairing, and reselling foreclosed homes to income-eligible households. Additionally, Newsed CDC engages in real estate development, constructing commercial, residential, and mixed-use properties. Over the past three decades, the organization has developed over 650,000 square feet of housing and retail/commercial real estate.
Official website here: www.newsed.org
Who is the CEO of Newsed Community Development Corp Inc?
Andrea Barela is the Chair of Newsed Community Development Corp Inc.
Official website here: www.newsed.org
What is the revenue of Newsed Community Development Corp Inc?
Newsed Community Development Corp Inc's revenue in 2022 was $1,188,013.
Official website here: www.newsed.org
Who are the executives of Newsed Community Development Corp Inc and what are their salaries?
The average compensation at Newsed Community Development Corp Inc during 2022 was $39,876. There are 14 employees and 20 volunteers at Newsed Community Development Corp Inc.
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- Compensation: $95,000
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Official website here: www.newsed.org
Where can I find the form 990 for Newsed Community Development Corp Inc?
Newsed Community Development Corp Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newsed.org
Learn more at the official website: www.newsed.org
Mission Statement of Newsed Community Development Corp Inc
Newsed Community Development Corp Inc, a nonprofit organization, was established with a mission to foster low-income housing opportunities, combat discrimination in the housing sector, and elevate the economic, educational, cultural, and social status of its residents. The corporation's primary goal is to develop affordable housing options, identify and eliminate discriminatory practices in the housing market, and enhance the overall well-being of its community members.
Over the past three decades, Newsed Community Development Corp Inc has demonstrated its commitment to this mission by purchasing, repairing, and reselling foreclosed homes to income-eligible households. Furthermore, the organization engages in real estate development, constructing commercial, residential, and mixed-use properties. As a result of these efforts, Newsed CDC has successfully developed over 650,000 square feet of housing and retail/commercial real estate, thereby contributing to the improvement of its community's living conditions and economic growth.
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Impact
July, 2024
Newsed Community Development Corp Inc's impact is significant in Denver, Colorado, where it focuses on developing low-income housing opportunities, combating housing discrimination, and uplifting the economic, educational, cultural, and social well-being of residents. Through initiatives like housing development and real estate projects, Newsed CDC has contributed to the development of over 650,000 square feet of housing and retail/commercial real estate in the city. By providing affordable housing options and promoting community improvement, Newsed CDC plays a crucial role in addressing housing needs and fostering a more inclusive and vibrant community in Denver.
This information is meant to be a general summary of Newsed Community Development Corp 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: $28,658
- Program Service Revenue: $575,808
- Gross Receipts: $1,659,395
Assets and Liabilities:
- Total Assets: $8,421,246
- Total Liabilities: $3,179,078
- Net Assets: $5,242,168
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROPERTY MANAGEMENT
Revenue
$572,943
MANAGEMENT FEES
Revenue
$2,865
Organization Details
Founding Year
1983
Phone
(303) 534-8342Principal Officer
Andrea Barela
Main Address
901 W 10TH AVE SUITE 2A, DENVER, CO, 80204
Website
www.newsed.orgNTEE Category
Code: S20 - Community improvement
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