Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1964.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
75 cents of each dollar spent went to programs.
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
19 people listed on the 990; $150K paid to officers and key staff.
Compensation history total reportable pay by year · 3 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Frank Liebl | $90,000 | $92,000 | $90,000 | $89,500 | $85,000 | $82,000 |
| Tanya Michener | — | $5,480 | $60,000 | $60,496 | $57,500 | $55,000 |
| Jenny Michael | — | $22,000 | — | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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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 start, grow, and sustain businesses and industry in the Newton area.
Questions for Newton Development Corporation
Your first name shows with your question. Newton Development Corporation answers here, for everyone.
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In 2023, NDC privately raised $104,350.00 from investors. NDC also received funding of $93,500.00 through the city of newton via the HOTEL/ motel tax. NDC was instrumental in the passage of this tax in 2005.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $29K | $32K |
| InvestmentsLn 11–13 | $516K | $558K |
| Land, buildings, equipmentLn 10c | $131K | $111K |
| Total assetsLn 16 | $676K | $701K |
| LiabilitiesLn 26 | $14K | $12K |
| Net assetsLn 32 | $662K | $689K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $150K | $112K | $15K | $22K |
| Payroll taxesLn 10 | $12K | $9K | $1K | $2K |
| Management feesLn 11a | $0 | $0 | $0 | $0 |
| Legal feesLn 11b | $2K | $0 | $2K | $0 |
| Accounting feesLn 11c | $3K | $0 | $3K | $0 |
| Other fees for servicesLn 11g | $625 | $0 | $625 | $0 |
| Advertising and promotionLn 12 | $1K | $1K | $0 | $0 |
| Office expensesLn 13 | $9K | $7K | $885 | $1K |
| OccupancyLn 16 | $1K | $750 | $100 | $150 |
| TravelLn 17 | $2K | $2K | $0 | $0 |
| Conferences, conventions and meetingsLn 19 | $5K | $5K | $0 | $0 |
| Depreciation, depletion and amortizationLn 22 | $2K | $0 | $2K | $0 |
| InsuranceLn 23 | $4K | $3K | $399 | $598 |
| Other expenses (24a–d)Ln 24 | $12K | $12K | $602 | $0 |
| All other expensesLn 24e | $5K | $5K | $0 | $0 |
| Total functional expensesLn 25 | $207K | $156K | $26K | $26K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $207K | $169K | $38K | $742K | 990 PDF |
| FY2024 | $215K | $171K | $45K | $733K | 990 PDF |
| FY2023 Viewing | $234K | $207K | $27K | $689K | 990 PDF |
| FY2022 | $216K | $206K | $10K | $662K | 990 PDF |
| FY2021 | $277K | $201K | $76K | $652K | 990 PDF |
| FY2020 | $313K | $327K | −$14K | $575K | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $233,997 revenue, 12 lines filed
Part VI · Governance 17 of 17 board members independent, 3 to look at
Part VIII · Statement of revenue $233,997 across 9 lines filed
Part IX · Statement of functional expenses $207,408 across 15 lines filed
Part X · Balance sheet $700,692 assets, 11 lines filed
Part XI · Reconciliation of net assets $688,897 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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