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New Center Foundation FY2020 filing

Tax-deductible

Detroit, MI501(c)(3) EIN 38-2271575Revenue $15K in FY2020

On file with the IRSmidtowndetroitinc.org644 Selden St Apt 210, 48201-2506 · Detroit, MITax-exempt since Jan 1982Publicly supported charity — 170(b)(1)(A)(vi)

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The New Center council (ncc) is a nonprofit planning and development organization that supports the physical maintenance and revitalization of midtown detroit, while working to enhance public awareness, appreciation and use of the district. Founded in 1967, the organization has been working to encourage New housing development, increased visitorship to area attractions, and New commercial activity within the neighborhood.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
0 of 5
filings with a surplus
Average deficit $205K a year · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Plus $800K in investments, Pt X · Ln 11–13
Fine: 0.1 months of spending in cash, plus $800K in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
47
of 48 voting members
Looks good: 47 of 48 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15K
Spent
$204K
To programs
100%
Net assets
$3.1M
By yearFY2020–FY2024
Revenue
$15K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$15K
FY2021−$19K
FY2022−$17K
FY2023−$12K
FY2024−$24K
Expenses
$204K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$204K
FY2021$203K
FY2022$204K
FY2023$160K
FY2024$197K
Net assets
$3.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$3.1M
FY2021$2.8M
FY2022$2.6M
FY2023$3.2M
FY2024$2.3M

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1982.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $204K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

51 people listed on the 990.

Part VII, Section A · reportable compensation
Susan T Mosey
Executive Director
$0Pt VII · Sec A
Rebecca Cooke
Chairperson
$0Pt VII · Sec A
Anne Beck
Vice Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Gene Barber
Executive Committee
$0Pt VII · Sec A
Elliott Broom
Executive Committee
$0Pt VII · Sec A
Janet Jones
Executive Committee
$0Pt VII · Sec A
See New Center Foundation 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

Revitalizes Midtown Detroit through real estate and small business development, neighborhood beautification, and initiatives that boost housing, commercial activity, and visitorship.

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Provided by the organization

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1 program · $204K · in their own filed words · FY2020
01

Real estate development, small business development, and MAINTENANCE/BEAUTIFICATION projects directed at increasing housing opportunities in the area.

$204Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2019
Trinity Health - MichiganFY2019$50K
Total grants receivedfrom 1 funder$50K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$15K
Ln 12
Other incomeLn 4–11$15K
Investment incomeLn 3$1
Money outPt IX
$204K
Ln 25
Programscol B$204K
Owns and owesPt X
$3.1M
net assets · Ln 32
Cash and savingsLn 1–2$1K
Total assetsLn 16$4.2M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
51
listed · VII A
PaidVII A0
Voting boardVI 1a48
IndependentVI 1b47
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$1
Other incomeLn 4–11$15K
Total revenueLn 12$15K
Assets in detailPt X, end of year
CashLn 1$180
SavingsLn 2$932
Cash and savings togetherLn 1–2$1K
InvestmentsLn 11–13$800K
Land, buildings, equipmentLn 10c$1.9M
Other assetsLn 15$0
Total assetsLn 16$4.2M
LiabilitiesLn 26$1.1M
Net assetsLn 32$3.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$13K$1K
InvestmentsLn 11–13$883K$800K
Land, buildings, equipmentLn 10c$380K$1.9M
Total assetsLn 16$4.4M$4.2M
LiabilitiesLn 26$1.0M$1.1M
Net assetsLn 32$3.4M$3.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$6K$6K
InterestLn 20$45K$45K
Depreciation, depletion and amortizationLn 22$153K$153K
Other expenses (24a–d)Ln 24−$1−$1
Total functional expensesLn 25$204K$204K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest −$24K$197K−$221K$2.3M 990 PDF
FY2023 −$12K$160K−$172K$3.2M 990 PDF
FY2022 −$17K$204K−$221K$2.6M 990 PDF
FY2021 −$19K$203K−$222K$2.8M 990 PDF
FY2020 Viewing $15K$204K−$189K$3.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $14,676 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,054,592$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $27,929$1
I-11 Other revenuePrior year $93,845$14,675
I-12 Total revenuePrior year $1,176,366$14,676
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $93,598$203,599
I-18 Total expensesPrior year $93,598$203,599
I-19 Revenue less expensesPrior year $1,082,768−$188,923
Part VI · Governance 47 of 48 board members independent, 3 to look at
VI-1a Voting members of the governing body48
VI-1b Independent voting members47
VI-13 Written whistleblower policyNo
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
Part VIII · Statement of revenue $14,676 across 4 lines filed
VIII-3 Investment incomeExcluded from tax $1$1
VIII-6 Net rental income or lossExcluded from tax −$14,316−$14,316
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $28,991$28,991
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $14,676$14,676
Part IX · Statement of functional expenses $203,599 across 4 lines filed
IX-11c Accounting feesPrograms $5,500$5,500
IX-20 InterestPrograms $45,227$45,227
IX-22 Depreciation, depletion and amortizationPrograms $152,873$152,873
IX-24 Other expenses (24a–d)Programs −$1−$1
IX-25 Total functional expensesPrograms $203,599 · Management $0 · Fundraising $0$203,599
Part X · Balance sheet $4,186,878 assets, 14 lines filed
Asset lines not itemized here account for $1,519,561; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $11,962$180
X-2 Savings and temporary cash investmentsStart of year $930$932
X-9 Prepaid expenses and deferred chargesStart of year $0$2,030
X-10c Land, buildings and equipment, netStart of year $379,884$1,864,463
X-12 Other securitiesStart of year $1,000$1,000
X-13 Program-related investmentsStart of year $881,834$798,712
X-15 Other assetsStart of year $1,637,451$0
X-16 Total assetsStart of year $4,429,606$4,186,878
X-17 Accounts payable and accrued expensesStart of year $131,446$165,014
X-25 Other liabilitiesStart of year $4,822$1,027
X-26 Total liabilitiesStart of year $1,043,898$1,073,215
X-27 Net assets without donor restrictionsStart of year $3,385,708$3,113,663
X-32 Total net assets or fund balancesStart of year $3,385,708$3,113,663
X-33 Total liabilities and net assetsStart of year $4,429,606$4,186,878
Part XI · Reconciliation of net assets $3,113,663 net assets at year end
XI-1 Total revenue$14,676
XI-2 Total expenses$203,599
XI-3 Revenue less expenses−$188,923
XI-4 Net assets at start of year$3,385,708
XI-5 Net unrealized gains (losses) on investments−$163,122
XI-9 Other changes in net assets$80,000
XI-10 Net assets at end of year$3,113,663

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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