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Nonprofit · EIN 47-4091853

NEW WAY HOMES INC

Tax-exempt · SANTA CRUZ, CA 95065

Financials

$4.7M$1.2M2023$1.2M$834K2024
Revenue Expenses · by fiscal year end
Financials of NEW WAY HOMES INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$1,235,459$833,598$401,861$11,994,685$7,624,058$4,370,627
December 31, 2023990$4,715,504$1,213,990$3,501,514$10,557,458$6,588,692$3,968,766
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$699,736
of which government grants
$224,437
Program service revenue
$16,960
Investment income
$518,763
Net gain from sales of assets
$30,380
Other revenue
$0

Expenses

Grants and similar amounts paid
$2,500
Other salaries and wages
$136,665
Salaries, compensation and benefits (total)
$152,410
Professional fundraising fees
$0
Accounting fees
$74,575
Travel
$3,063
Depreciation
$1,244
Program services (functional)
$729,541
Management and general (functional)
$100,994
Fundraising (functional)
$3,063

Balance sheet and other

Total assets, start of year
$10,557,458
Total assets, end of year
$11,994,685
Total liabilities, end of year
$7,624,058
Net assets, end of year
$4,370,627
Land, buildings and equipment
$3,143
Net assets without donor restrictions
$2,479,696
Net assets with donor restrictions
$1,890,931
Gross receipts
$1,235,459
Employees
3
Volunteers
20
Year formed
2015
State of legal domicile
CA

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
ELAINE JOHNSONHSCC EXECUTIVE DIRECTOR
Highest-paid employee
40$116,724$725
SIBLEY SIMONPRESIDENT
Trustee or director, Officer
18.5$0$0
JOHN BALLARDTREASURER (END 11/15/24)
Trustee or director, Officer
1.25$0$0
ROBERT SINGLETONSECRETARY
Trustee or director, Officer
0.5$0$0
JAMES RECTORDIRECTOR
Trustee or director
0.5$0$0
CHRISTINE SIPPLDIRECTOR
Trustee or director
0.5$0$0
UCHE UWAHEMUDIRECTOR
Trustee or director
0.5$0$0
ANDREW OWDIRECTOR
Trustee or director
0.5$0$0
MICAH SILVEYDIRECTOR
Trustee or director
0.5$0$0
OWEN LAWLORDIRECTOR
Trustee or director
0.5$0$0
AURA OSLAPASDIRECTOR
Trustee or director
0.5$0$0
990 for the year ended December 31, 2023: 11 people
NameTitleHours / weekCompensationOther / benefits
ELAINE JOHNSONHSCC EXECUTIVE DIRECTOR
Highest-paid employee
40$110,549$2,851
JOHN BALLARDTREASURER
Trustee or director, Officer
1.25$0$0
ROBERT SINGLETONSECRETARY
Trustee or director, Officer
0.5$0$0
CHRISTINE SIPPLDIRECTOR
Trustee or director
0.5$0$0
UCHE UWAHEMUDIRECTOR
Trustee or director
0.5$0$0
ANDREW OWDIRECTOR
Trustee or director
0.5$0$0
JAMES RECTORDIRECTOR
Trustee or director
0.5$0$0
MICAH SILVEYDIRECTOR
Trustee or director
0.5$0$0
OWEN LAWLORDIRECTOR
Trustee or director
0.5$0$0
AURA OSLAPASDIRECTOR
Trustee or director
0.5$0$0
SIBLEY SIMONPRESIDENT
Officer
18.5$0$0

Address and contacts

Address (IRS master file)
1040 MYSTERY SPOT RD, SANTA CRUZ, CA 95065-9660
In care of
% SIBLEY V SIMON
Principal officer (990 for 2024)
SIBLEY SIMON, 1040 MYSTERY SPOT ROAD, SANTA CRUZ, CA 95065
Signed the 990
SIBLEY SIMON, PRESIDENT
Phone
(831) 419-4091
Return prepared by
CLIFTONLARSONALLEN LLP

California records

California keeps its own records of charities and corporations. Search them by EIN 47-4091853 or by the name NEW WAY HOMES INC.

Attorney General, Registry of Charities and Fundraisers
Registration status and filed reports (CT-TR-1, RRF-1)

Mission

NEW WAY HOMES WAS FORMED TO SIGNIFICANTLY INCREASE THE AVAILABILITY AND AFFORDABILITY OF RENTAL HOUSING TO VULNERABLE AND LOW INCOME POPULATIONS BY MAKING CHARITABLE LOANS THAT ARE USED TO INCREASE THE RATE OF DEVELOPMENT OF NEW AFFORDABLE HOUSING INCLUDING WITHIN MIXED INCOME HOUSING PROJECTS.

990 for the year ended December 31, 2024

Program accomplishments

  • DURING 2024 NEW WAY HOMES FURTHERED ITS MISSION TO INCREASE AFFORDABLE/LOW-INCOME HOUSING BY MAKING PRE-DEVELOPMENT LOANS TOTALING $1,652,166.45 AND DIRECTLY PAYING PREDEVELOPMENT EXPENSES TOTALING $249,105.97.
    Expenses $729,541 · grants $2,500 · revenue $16,960

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
47-4091853
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2017
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Human services (P20)
Assets (IRS master file)
$11,994,685
Income (IRS master file)
$1,235,459

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$1,235,459$833,598$11,994,685XML
990December 2023$4,715,504$1,213,990$10,557,458XML
990December 2022$557,442$578,187$7,187,029IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 47-4091853).

Questions about NEW WAY HOMES INC

What is the EIN of NEW WAY HOMES INC?
The employer identification number (EIN) of NEW WAY HOMES INC is 47-4091853.
Is NEW WAY HOMES INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2017.
Are donations to NEW WAY HOMES INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does NEW WAY HOMES INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of NEW WAY HOMES INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did NEW WAY HOMES INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of NEW WAY HOMES INC?
The 990 for the year ended December 31, 2024 names SIBLEY SIMON.
Who are the officers and directors of NEW WAY HOMES INC?
The 990 for the year ended December 31, 2024 lists 11 people; 1 received compensation from the organization, the highest $116,724 (ELAINE JOHNSON, HSCC EXECUTIVE DIRECTOR).
How much revenue does NEW WAY HOMES INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $1,235,459, expenses of $833,598 and total assets of $11,994,685 at year end.

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