Nonprofit · EIN 72-1297875
NEWCORP INC
Tax-exempt · NEW ORLEANS, LA 70122
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,641,290 | $1,018,784 | $1,622,506 | $12,480,044 | $6,005,706 | $6,474,338 |
| December 31, 2023 | 990 | $1,113,447 | $1,181,399 | -$67,952 | $10,548,442 | $5,485,436 | $5,063,006 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,495,197
- of which government grants
- $1,572,823
- Program service revenue
- $0
- Investment income
- $143,352
- Other revenue
- $2,741
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $210,000
- Other salaries and wages
- $266,792
- Salaries, compensation and benefits (total)
- $519,051
- Professional fundraising fees
- $0
- Accounting fees
- $59,000
- Occupancy
- $39,704
- Travel
- $17,661
- Program services (functional)
- $793,816
- Management and general (functional)
- $224,968
Balance sheet and other
- Total assets, start of year
- $10,548,442
- Total assets, end of year
- $12,480,044
- Total liabilities, end of year
- $6,005,706
- Net assets, end of year
- $6,474,338
- Land, buildings and equipment
- $335,574
- Net assets without donor restrictions
- $358,715
- Net assets with donor restrictions
- $6,115,623
- Gross receipts
- $2,641,290
- Employees
- 6
- Volunteers
- 1
- Year formed
- 1995
- State of legal domicile
- LA
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.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Vaughn Fauria | Executive Director Key employee | 50 | $210,000 |
| Vanessa Brown Claiborne | President Trustee or director, Officer | 3 | $0 |
| Angela Obyrne | Treasurer Trustee or director, Officer | 2 | $0 |
| Sheryl Howard | Secretary Trustee or director, Officer | 2 | $0 |
| Monica Edwards | Member Trustee or director | 2 | $0 |
| Gerald Johnson | Member Trustee or director | 2 | $0 |
| James Ross | Member Trustee or director | 2 | $0 |
| Rodderick Miller | Member Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Vaughn Fauria | Executive Director Key employee | 50 | $210,000 |
| Vanessa Brown Claiborne | President Trustee or director, Institutional trustee | 3 | $0 |
| Angela Obyrne | Treasurer Trustee or director, Institutional trustee | 2 | $0 |
| Sheryl Howard | Secretary Trustee or director, Institutional trustee | 2 | $0 |
| Monica Edwards | Member Trustee or director | 2 | $0 |
| Gerald Johnson | Member Trustee or director | 2 | $0 |
| James Ross | Member Trustee or director | 2 | $0 |
| Rodderick Miller | Member Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 3301 ANNETTE ST, NEW ORLEANS, LA 70122-2921
- Principal officer (990 for 2024)
- Vaughn R Fauria, 3301 Annette St, New Orleans, LA 70122
- Signed the 990
- Vaughn R Fauria, President and CEO
- Phone
- (504) 208-1700
- Website
- www.newcorpinc.com
- Return prepared by
- VGR CPA LLC
Mission
NewCorp, Inc. is a private non-profit 501(C)(3) CDFI that provides financial products and services, technical assistance, training, counseling and advisory services to small/medium, underserved businesses.
Program accomplishments
- NewCorp, Inc. is a private non-profit 501(C)(3) CDFI that provides financial products and services, technical assistance, training, counseling and advisory services to small/medium, underserved businesses.Expenses $793,816
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 72-1297875
- 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
- 2021
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $12,480,044
- Income (IRS master file)
- $2,641,290
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,641,290 | $1,018,784 | $12,480,044 | XML |
| 990 | December 2023 | $1,113,447 | $1,181,399 | $10,548,442 | XML |
| 990 | December 2022 | $1,647,488 | $1,267,116 | $11,879,198 | 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 72-1297875).
Questions about NEWCORP INC
- What is the EIN of NEWCORP INC?
- The employer identification number (EIN) of NEWCORP INC is 72-1297875.
- Is NEWCORP INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to NEWCORP INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEWCORP 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 NEWCORP 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 NEWCORP 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 NEWCORP INC?
- The 990 for the year ended December 31, 2024 names Vaughn R Fauria.
- Who are the officers and directors of NEWCORP INC?
- The 990 for the year ended December 31, 2024 lists 8 people; 1 received compensation from the organization, the highest $210,000 (Vaughn Fauria, Executive Director).
- How much revenue does NEWCORP INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,641,290, expenses of $1,018,784 and total assets of $12,480,044 at year end.
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All nonprofits in NEW ORLEANS · Louisiana · Community improvement and capacity building