Overview
What is Newlife Homes Inc?
Newlife Homes Inc, situated in Albuquerque, New Mexico, is a nonprofit organization dedicated to providing affordable housing for families and individuals who struggle with mental illnesses or have very low income. Their mission is to foster the development of various housing options for individuals with psychiatric disabilities and those of very low income. During the current year, they operate two housing facilities, offering a safe and supportive living environment for those in need. Their work is instrumental in promoting inclusive housing solutions and enhancing the quality of life for individuals facing these challenges.
Official website here: www.newlifehomesnm.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. This rating reflects the organization's performance in accountability and finance, indicating that while there are strengths, there are areas needing improvement. The 73% overall score shows that Newlife Homes Inc meets some standards of transparency and efficiency, but the Two-Star rating suggests it falls short of optimal performance in certain critical areas.
One of the organization’s notable strengths is its governance structure, which boasts 100% independent board members, ensuring that decisions are made without conflicts of interest. Furthermore, the organization has achieved full scores for its audited financial statements and has no reported material diversion of assets, indicating sound financial management. The high program expense ratio of 87.63% suggests that a significant portion of its expenditures goes directly to its programs, which is a positive indicator for donors concerned about impact.
However, there are significant limitations. Newlife Homes Inc is missing key policies such as a whistleblower policy and a document retention and destruction policy, which are vital for accountability and transparency. Additionally, the organization's high liabilities to assets ratio of 104.12% raises concerns about its financial stability. Lastly, the absence of its tax form on the nonprofit's website may deter potential donors seeking transparency regarding its finances.
This AI summary has been generated from information found on Charity Navigator.
Is Newlife Homes Inc legitimate?
Newlife Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Newlife Homes 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: $28,677
Professional Fundraising Fees: $0
Other Salaries and Wages: $59,246
For more financial information, click here
Official website here: www.newlifehomesnm.com
What is the mission statement of Newlife Homes Inc?
Newlife Homes Inc is committed to promoting the development of housing options for individuals with psychiatric disabilities and those with very low income. They engage in activities to create, develop, operate, or support various housing solutions for this group of people. The organization's primary mission is to provide low-income housing for families and individuals dealing with mental illnesses, operating two such facilities during the current year. In essence, Newlife Homes Inc aims to offer a supportive living environment for those in need, fostering their overall well-being and independence.
Official website here: www.newlifehomesnm.com
Who is the CEO of Newlife Homes Inc?
John Bloomfield is the Executive Director of Newlife Homes Inc.
Official website here: www.newlifehomesnm.com
What is the revenue of Newlife Homes Inc?
Newlife Homes Inc's revenue in 2023 was $572,791.
Official website here: www.newlifehomesnm.com
Who are the executives of Newlife Homes Inc and what are their salaries?
The average compensation at Newlife Homes Inc during 2023 was $87,923. There is 1 employee at Newlife Homes Inc.
Here are 6 key members and their salaries:
- Compensation: $28,677
- Related: $217,838
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.newlifehomesnm.com
Where can I find the form 990 for Newlife Homes Inc?
Newlife Homes Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.newlifehomesnm.com
Learn more at the official website: www.newlifehomesnm.com
Mission Statement of Newlife Homes Inc
Newlife Homes Inc is dedicated to promoting the growth of housing options for individuals struggling with psychiatric disabilities and those with very low income. In line with this purpose, the organization engages in various activities aimed at creating, developing, operating, or supporting suitable housing solutions for this specific population. At present, Newlife Homes Inc is actively operating two housing facilities, providing low-income housing for families and individuals dealing with mental illnesses.
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Impact
July, 2024
Newlife Homes Inc's impact lies in providing essential low-income housing for families and individuals facing mental illnesses or very low income in Albuquerque, NM. By fostering the development of housing options tailored to persons with psychiatric disabilities and very low income, Newlife Homes Inc plays a crucial role in improving the quality of life for vulnerable populations in the community. Through its dedication to creating, developing, and supporting housing solutions, this organization contributes significantly to addressing the housing needs of those most in need, ultimately fostering a more inclusive and supportive environment for marginalized individuals and families.
This information is meant to be a general summary of Newlife Homes 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 2023.
- Investment Income: $2,780
- Program Service Revenue: $570,011
- Gross Receipts: $572,791
Assets and Liabilities:
- Total Assets: $7,405,647
- Total Liabilities: $7,710,815
- Net Assets: -$305,168
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$531,946
OTHER INCOME
Revenue
$38,129
PARTNERSHIP LOSSES
Revenue
-$64
Organization Details
Founding Year
1992
Phone
(505) 293-7553Principal Officer
John Bloomfield
Main Address
PO BOX 51055, ALBUQUERQUE, NM, 87181
Website
www.newlifehomesnm.comNTEE Category
Code: Z99Z - Unknown
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