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New Life Economic Development Inc

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Housing, Shelter / Public Housing Facilities (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$538k (2023)

Expenses
$516k (2023)

Total Assets
$1.2M (2023)

Total Liabilities
$496k (2023)

Years with missing data
Source: Form 990 tax filings from 2012 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$537,757
Expenses
$516,309
Net Income
$21,448
Net Assets
$709,394
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $537,775
> 100%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue -$18
Notable Expenses Percent of Total Expenses
Executive Compensation $37,250
7.2%
Professional Fundraising Fees $0
Other Salaries and Wages $258,175
50.0%
Assets/Debt
Total Assets $1,204,994
Total Liabilities $495,600
Net Assets $709,394
Compensation
Key Employees and Officers Compensation Related Other
John W Heath (Board President) $37,250 $0 $0
Ferris Trimble (Board Member) $0 $0 $0
David Macz (Board Member) $0 $0 $0
Cassandra Iverson (Secretary) $0 $0 $0
Quentin Strode (Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$533,243
Expenses
$621,791
Net Income
-$88,548
Net Assets
$644,775
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $533,243
100%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $148,500
23.9%
Professional Fundraising Fees $0
Other Salaries and Wages $197,611
31.8%
Assets/Debt
Total Assets $1,161,821
Total Liabilities $517,046
Net Assets $644,775
Compensation
Key Employees and Officers Compensation Related Other
John W Heath (Ceo) $148,500 $0 $0
Ferris Trimble (Board Member) $0 $0 $0
David Macz (Board Member) $0 $0 $0
Cassandra Iverson (Secretary) $0 $0 $0
Quentin Strode (Chief Financial Officer) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$489,862
Expenses
$604,602
Net Income
-$114,740
Net Assets
$733,323
Notable Sources of Revenue Percent of Total Revenue
Contributions $64,362
13.1%
Program Services $425,500
86.9%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $149,500
24.7%
Professional Fundraising Fees $0
Other Salaries and Wages $198,410
32.8%
Assets/Debt
Total Assets $1,260,279
Total Liabilities $526,956
Net Assets $733,323
Compensation
Key Employees and Officers Compensation Related Other
John W Heath (Ceo) $149,500 $0 $0
Ferris Trimble (Board Member) $0 $0 $0
David Macz (Board Member) $0 $0 $0
Cassandra Iverson (Secretary) $0 $0 $0
Quentin Strode (Chief Financial Officer) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$434,154
Expenses
$537,647
Net Income
-$103,493
Net Assets
$848,063
Notable Sources of Revenue Percent of Total Revenue
Contributions $32,500
7.5%
Program Services $401,654
92.5%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $122,000
22.7%
Professional Fundraising Fees $0
Other Salaries and Wages $179,568
33.4%
Assets/Debt
Total Assets $1,196,097
Total Liabilities $348,034
Net Assets $848,063
Compensation
Key Employees and Officers Compensation Related Other
John W Heath (Ceo) $122,000 $0 $0
Ferris Trimble (Board Member) $0 $0 $0
David Macz (Board Member) $0 $0 $0
Cassandra Iverson (Secretary) $0 $0 $0
Quentin Strode (Chief Financial Officer) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$319,780
Expenses
$335,809
Net Income
-$16,029
Net Assets
$988,155
Notable Sources of Revenue Percent of Total Revenue
Contributions $7,906
2.5%
Program Services $311,874
97.5%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $70,500
21.0%
Professional Fundraising Fees $0
Other Salaries and Wages $117,573
35.0%
Assets/Debt
Total Assets $1,132,650
Total Liabilities $144,495
Net Assets $988,155

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$447,450
Expenses
$457,688
Net Income
-$10,238
Net Assets
$1,082,975
Notable Sources of Revenue Percent of Total Revenue
Contributions $6,500
1.5%
Program Services $441,910
98.8%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue -$960
Notable Expenses Percent of Total Expenses
Executive Compensation $60,750
13.3%
Professional Fundraising Fees $0
Other Salaries and Wages $152,596
33.3%
Assets/Debt
Total Assets $1,082,975
Total Liabilities $0
Net Assets $1,082,975

No Document Links

The IRS has provided extracted financial data for this filing, but has not yet released the source documents.

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$312,729
Expenses
$311,087
Net Income
$1,642
Net Assets
$1,084,333
Notable Sources of Revenue Percent of Total Revenue
Contributions $9,500
3.0%
Program Services $304,189
97.3%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue -$960
Notable Expenses Percent of Total Expenses
Executive Compensation $85,000
27.3%
Professional Fundraising Fees $0
Other Salaries and Wages $89,366
28.7%
Assets/Debt
Total Assets $1,084,333
Total Liabilities $0
Net Assets $1,084,333

No Document Links

The IRS has provided extracted financial data for this filing, but has not yet released the source documents.

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$233,602
Expenses
$231,860
Net Income
$1,742
Net Assets
$1,084,581
Notable Sources of Revenue Percent of Total Revenue
Contributions $13,326
5.7%
Program Services $221,304
94.7%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue -$1,028
Notable Expenses Percent of Total Expenses
Executive Compensation $49,336
21.3%
Professional Fundraising Fees $0
Other Salaries and Wages $70,932
30.6%
Assets/Debt
Total Assets $1,084,581
Total Liabilities $0
Net Assets $1,084,581

No Document Links

The IRS has provided extracted financial data for this filing, but has not yet released the source documents.

Fiscal Year Ending Dec.
2015

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$384,010
Expenses
$595,473
Net Income
-$211,463
Net Assets
$1,086,770
Notable Sources of Revenue Percent of Total Revenue
Contributions $1,880
0.5%
Program Services $372,547
97.0%
Investment Income $10,000
2.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue -$417
Notable Expenses Percent of Total Expenses
Executive Compensation $69,164
11.6%
Professional Fundraising Fees $0
Other Salaries and Wages $275,626
46.3%
Assets/Debt
Total Assets $1,086,770
Total Liabilities $0
Net Assets $1,086,770

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$785,465
Expenses
$856,744
Net Income
-$71,279
Net Assets
$1,224,180
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $823,470
> 100%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue -$38,005
Notable Expenses Percent of Total Expenses
Executive Compensation $22,877
2.7%
Professional Fundraising Fees $0
Other Salaries and Wages $308,377
36.0%
Assets/Debt
Total Assets $1,224,180
Total Liabilities $0
Net Assets $1,224,180

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$4,322,439
Expenses
$2,955,160
Net Income
$1,367,279
Net Assets
$1,295,508
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $520,143
12.0%
Investment Income $26
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income -$53,988
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $3,856,258
89.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,295,508
Total Liabilities $0
Net Assets $1,295,508

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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