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New Samaritan Development Corporation

Tax-deductible

North Haven, CT501(c)(3)Since 1988EIN 22-2855937Revenue $140K in FY2024

On file with the IRS127 Washington Ave Ste 5 # East, 06473-1715 · North Haven, CTTax-exempt since Mar 1988Publicly supported charity — 170(b)(1)(A)(vi)

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To develop and preserve decent, affordable housing for low and moderate income people in the connecticut area; the promotion of neighborhood stability and improvement in low income communities in the connecicut area; and the creation of home ownership opportunities.

501(c)(3) charity; gifts are tax-deductible.
6¢ of each $1 spent went to programs.
Run by 11 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $23K a year · 20% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
6%
of spending
Concern: 6% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
78 mo
of spending, in cash
Looks good: 78.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$56K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$140K
+5% vs prior year
Spent
$85K
To programs
6%
Net assets
$5.2M
By yearFY2020–FY2024
Revenue
$140K
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$107K
FY2021$116K
FY2022$102K
FY2024$132K
FY2024$140K
Expenses
$85K
FY2024▼ -23%
Tap a bar for its year
Expenses by fiscal year
FY2020$88K
FY2021$85K
FY2022$83K
FY2024$110K
FY2024$85K
Net assets
$5.2M
FY2024▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.1M
FY2021$5.1M
FY2022$5.1M
FY2024$5.2M
FY2024$5.2M

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1988.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

6 cents of each dollar spent went to programs.

Program services 6% · $5K Management & general 94% · $80K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation
C Michael Tucker
Vice President
$0Pt VII · Sec A
Melanie J Howlett
Assistant Treasurer
$0Pt VII · Sec A
Mabel J Peterson
Assistant Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Jennifer Young Gaudet
Board President
$0Pt VII · Sec A
Jeffrey a Asher
Treasurer (until 2/2025)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See New Samaritan Development Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps low-income people buy homes.

Questions for New Samaritan Development Corporation

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Provided by the organization

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1 program · $5K · in their own filed words · FY2024
01

To aid in construction and financing of low and moderate-income housing projects in the state of connecticut. To provide oversight and operating assistance to land trust.

$5Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$140K
Ln 12
Fees for servicesLn 2g$82K
Investment incomeLn 3$52K
Other incomeLn 4–11$5K
Money outPt IX
$85K
Ln 25
Programscol B$5K
Managementcol C$80K
Owns and owesPt X
$5.2M
net assets · Ln 32
Cash and savingsLn 1–2$550K
Total assetsLn 16$5.3M
LiabilitiesLn 26$56K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$82K
Investment incomeLn 3$52K
Other incomeLn 4–11$5K
Gains on assetsLn 7$19K
Total revenueLn 12$140K
Assets in detailPt X, end of year
CashLn 1$37K
SavingsLn 2$513K
Cash and savings togetherLn 1–2$550K
InvestmentsLn 11–13$707K
Land, buildings, equipmentLn 10c$4.0M
Other assetsLn 15$13
Total assetsLn 16$5.3M
LiabilitiesLn 26$56K
Net assetsLn 32$5.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 611
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$17K$550K
InvestmentsLn 11–13$919K$707K
Land, buildings, equipmentLn 10c$4.0M$4.0M
Total assetsLn 16$5.2M$5.3M
LiabilitiesLn 26$48K$56K
Net assetsLn 32$5.2M$5.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$9K$9K
Other employee benefitsLn 9$60$60
Payroll taxesLn 10$251$251
Management feesLn 11a$54K$54K
Legal feesLn 11b$500$500
Accounting feesLn 11c$12K$12K
Office expensesLn 13$4K$4K
OccupancyLn 16$910$910
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$50$50
Total functional expensesLn 25$85K$5K$80K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $132K$110K$23K$5.2M 990 PDF
FY2023 Not on file
FY2022 $102K$83K$20K$5.1M 990 PDF
FY2021 $116K$85K$32K$5.1M 990 PDF
FY2020 $107K$88K$19K$5.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $139,543 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $78,131$81,900
I-10 Investment incomePrior year $53,333$52,250
I-11 Other revenuePrior year $823$5,393
I-12 Total revenuePrior year $132,287$139,543
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $14,015$9,711
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $95,601$74,916
I-18 Total expensesPrior year $109,616$84,627
I-19 Revenue less expensesPrior year $22,671$54,916
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $139,543 across 5 lines filed
Lines not itemized here account for $1,637 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $81,900$81,900
VIII-3 Investment incomeExcluded from tax $32,803$32,803
VIII-7 Net gain or loss on sales of assetsExcluded from tax $19,447$19,447
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,756$3,756
VIII-12 Total revenueRelated to mission $87,293 · Unrelated business $0 · Excluded from tax $52,250$139,543
Part IX · Statement of functional expenses $84,627 across 10 lines filed
IX-7 Other salaries and wagesManagement $9,400$9,400
IX-9 Other employee benefitsManagement $60$60
IX-10 Payroll taxesManagement $251$251
IX-11a Management feesManagement $54,419$54,419
IX-11b Legal feesManagement $500$500
IX-11c Accounting feesManagement $11,500$11,500
IX-13 Office expensesManagement $3,660$3,660
IX-16 OccupancyPrograms $910$910
IX-23 InsurancePrograms $3,877$3,877
IX-24 Other expenses (24a–d)Management $50$50
IX-25 Total functional expensesPrograms $4,787 · Management $79,840 · Fundraising $0$84,627
Part X · Balance sheet $5,290,596 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $16,787$36,646
X-2 Savings and temporary cash investmentsStart of year $0$513,497
X-4 Accounts receivableStart of year $4,575$6,374
X-9 Prepaid expenses and deferred chargesStart of year $201$0
X-10c Land, buildings and equipment, netStart of year $4,026,959$4,026,959
X-11 Publicly traded securitiesStart of year $919,401$707,107
X-15 Other assetsStart of year $246,274$13
X-16 Total assetsStart of year $5,214,197$5,290,596
X-17 Accounts payable and accrued expensesStart of year $32,868$38,187
X-19 Deferred revenueStart of year $15,020$18,230
X-26 Total liabilitiesStart of year $47,888$56,417
X-27 Net assets without donor restrictionsStart of year $1,166,309$1,234,179
X-28 Net assets with donor restrictionsStart of year $4,000,000$4,000,000
X-32 Total net assets or fund balancesStart of year $5,166,309$5,234,179
X-33 Total liabilities and net assetsStart of year $5,214,197$5,290,596
Part XI · Reconciliation of net assets $5,234,179 net assets at year end
XI-1 Total revenue$139,543
XI-2 Total expenses$84,627
XI-3 Revenue less expenses$54,916
XI-4 Net assets at start of year$5,166,309
XI-5 Net unrealized gains (losses) on investments$12,954
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,234,179

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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