The New World Center Foundation Inc

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 591936652 ✦ Miami, FL ✦ Designated as a 501(c)(3)

Overview

What is The New World Center Foundation Inc?

The New World Center Foundation Inc, based in Miami, Florida, is a nonprofit organization primarily committed to revitalizing and enhancing the downtown area of the city. Their mission is to eliminate community deterioration and foster the renewal, redevelopment, and improvement of this sector, ultimately contributing to the city's overall welfare. They achieve this objective by collaborating with local civic bodies. The organization also operates a 130-unit affordable housing apartment building, with at least 80% of the units reserved for low-income families or individuals whose income is 60% or less of the median annual gross income for Miami-Dade County, Florida. Furthermore, 40% of these 80% of units are specifically designated for elderly residents. With a dedicated workforce of one individual, The New World Center Foundation Inc is dedicated to improving living conditions and promoting community development in Miami.


Is The New World Center Foundation Inc legitimate?

The New World Center Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The New World Center Foundation 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.

Here are some key statistics you may want to consider:

Executive Compensation: $130,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $153,311

For more financial information, click here


What is the mission statement of The New World Center Foundation Inc?
Who is the CEO of The New World Center Foundation Inc?
What is the revenue of The New World Center Foundation Inc?
Who are the executives of The New World Center Foundation Inc and what are their salaries?
Where can I find the form 990 for The New World Center Foundation Inc?

Mission Statement of The New World Center Foundation Inc

The New World Center Foundation Inc is dedicated to assisting cities, including Miami, Florida, and other civic bodies in their mission to eradicate community deterioration and promote the renewal, redevelopment, and improvement, primarily in the downtown area. This endeavor is aimed at enhancing the general welfare of the city. The organization's primary objective is to contribute to the elimination of urban decay and foster the growth and advancement of the city's core districts.

In line with this mission, The New World Center Foundation Inc operates an affordable housing apartment building, housing over 130 units. A significant portion of these units is reserved for rental to very low-income individuals and families, whose annual gross income is 60% or less of the median income for Miami-Dade County, Florida. A smaller portion of the units is set aside for the elderly, catering to individuals whose annual gross income is 40% or less of the median income for Miami-Dade County, Florida or less. This commitment to affordable housing is a testament to The New World Center Foundation Inc's mission to contribute positively to the welfare and livability of the communities it serves.

Impact

This information is meant to be a general summary of The New World Center Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.




Saturday, July 20, 2024

The New World Center Foundation Inc's impact can be seen in its dedication to assisting the city of Miami, Florida in eliminating community deterioration and fostering renewal, redevelopment, and improvement within the downtown area. Through its ownership and operation of a 130-unit affordable housing apartment building, the organization provides much-needed housing opportunities for very low-income individuals and households in Miami-Dade County. By ensuring that a significant percentage of these units are reserved for individuals with extremely low incomes, including elderly residents, the foundation positively contributes to the well-being and quality of life for those in need within the community.





Financials

This financial information is from Propublica.

Revenue
Expenses
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $59
  • Program Service Revenue: $1,538,571
  • Gross Receipts: $1,995,510

    • Assets and Liabilities:
  • Total Assets: $10,090,834
  • Total Liabilities: $3,485,216
  • Net Assets: $6,605,618
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    LOW INCOME HOUSING WBA LTD

    Revenue

    $1,538,571

    Organization Details

    Founding Year

    1979

    Principal Officer

    Janitza Torres-Kaplan

    Main Address

    955 SW 2ND AVENUE, MIAMI, FL, 33130

    NTEE Category

    Code: L20 - Housing

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