2025-10-24T08:49:13-05:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC ONE POST OFFICE SQUARE SUITE 2950 BOSTON MA 02109 990 2024-01-01 043292614 NEW HOPE COMMUNITY CAPITAL INC NEWH 8572218600 CO TCB 33 ARCH STREET 10TH FLOOR BOSTON MA 02110 THOMAS BUONOPANE VICE PRESIDENT 8572218600 2025-10-24 1 1 LAURA KIELCZEWSKI P00740769 6176481400 2025-10-23 2024 2025-03-06 01:10:19Z X THOMAS BUONOPANE C/O TCB 33 ARCH STREET 10TH FLOOR BOSTON MA 02110 38876237 0 X WWW.NEWHOPEHOUSINGINC.ORG X 1991 MA THE PRIMARY PURPOSE OF THE CORPORATION IS TO PROMOTE COMMUNITY DEVELOPMENT BY DIRECTING ITS ACTIVITIES TOWARD IMPROVING THE SOCIAL AND ECONOMIC CONDITIONS OF UNDERSERVED PEOPLE, INCLUDING RESIDENTS OF ECONOMICALLY DISTRESSED COMMUNITIES, LOW-INCOME PERSONS AND OTHER UNDERSERVED PERSONS WHO LACK ADEQUATE ACCESS TO CAPITAL AND FINANCIAL SERVICES. 5 5 0 6 0 0 976265 19544729 2732193 3272655 3718207 15835507 0 223346 7426665 38876237 3950888 34412415 0 0 0 0 0 0 0 2539691 3830165 6490579 38242580 936086 633657 62167256 75605709 51702666 64507462 10464590 11098247 X THE PRIMARY PURPOSE OF THE CORPORATION IS TO PROMOTE COMMUNITY DEVELOPMENT BY DIRECTING ITS ACTIVITIES TOWARD IMPROVING THE SOCIAL AND ECONOMIC CONDITIONS OF UNDERSERVED PEOPLE, INCLUDING RESIDENTS OF ECONOMICALLY DISTRESSED COMMUNITIES, LOW-INCOME PERSONS AND OTHER UNDERSERVED PERSONS WHO LACK ADEQUATE ACCESS TO CAPITAL AND FINANCIAL SERVICES. 0 0 37938819 34412415 3496001 NEW HOPE WAS FORMED IN 1991 AS A CHARITABLE CORPORATION UNDER THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS, SPECIFICALLY FOR THE PURPOSES OF (A) PROMOTING, DEVELOPING, RENOVATING, MANAGING, AND FACILITATING THE CREATION OF AFFORDABLE HOUSING AT THE LOWEST POSSIBLE COST TO INDIVIDUALS AND FAMILIES OF LOW AND VERY LOW INCOMES; (B) PROMOTING SOCIAL WELFARE AND COMBATING COMMUNITY DETERIORATION THROUGH SUCH AFFORDABLE HOUSING ACTIVITIES; (C) IMPROVING BLIGHTED, DECAYED OR SUBSTANDARD AREAS IN ORDER TO PROMOTE ECONOMIC DEVELOPMENT AND PROVIDE EMPLOYMENT OPPORTUNITIES; AND (D) ANY OTHER TAX-EXEMPT ACTIVITIES THAT PROMOTE SUCH PURPOSES. NEW HOPE HAS PROVIDED CAPITAL FOR AFFORDABLE AND MIXED-INCOME HOUSING AND RELATED COMMUNITY DEVELOPMENT ACTIVITIES. IT DOES SO BY FACILITATING PRIVATE EQUITY INVESTMENTS IN AND MAKING GRANTS AND LOANS IN SUPPORT OF SUCH AFFORDABLE HOUSING AND RELATED COMMUNITY DEVELOPMENT WORK. IN SHORT, NEW HOPE PROMOTES THE CHARITABLE PURPOSE OF AFFORDABLE HOUSING FOR THE DIRECT BENEFIT OF POOR AND DISTRESSED INDIVIDUALS AND FAMILIES, WHICH ARE CHARITABLE CLASSES.NEW HOPE'S CHARITABLE PURPOSES WERE INCLUDES MAKING INVESTMENTS IN, AND GRANTS AND LOANS TO, NONPROFIT ORGANIZATIONS AND NONPROFIT-SPONSORED AFFORDABLE HOUSING PROJECTS AND ENTITIES. IN THIS CAPACITY, NEW HOPE SERVES AS A SYNDICATOR OF AFFORDABLE HOUSING DEVELOPMENTS GENERATING FEDERAL LOW INCOME HOUSING TAX CREDITS ("LIHTCS") AND RECEIVES CERTAIN FEES AND REIMBURSEMENT OF EXPENSES IN CONNECTION WITH ITS ROLE AS SYNDICATOR. NEW HOPE IS MISSION-DRIVEN AND ONLY WORKS ON AFFORDABLE HOUSING PROJECTS CONTROLLED BY ONE OR MORE CHARITABLE ENTITIES. PURSUANT TO INVESTOR SERVICES AGREEMENTS, NEW HOPE INTRODUCES POTENTIAL LIHTC INVESTORS TO INVESTMENT OPPORTUNITIES IN AFFORDABLE HOUSING PROJECTS, ASSISTS INVESTORS IN ANALYZING THE FINANCIAL FEASIBILITY AND FINANCIAL STRUCTURE OF PROJECTS AND MONITORS LIHTC INVESTORS' INVESTMENTS IN PROJECTS. NEW HOPE ONLY PROVIDES THESE SERVICES IN CONNECTION WITH AFFORDABLE RENTAL HOUSING PROJECTS THAT ARE CONTROLLED BY ONE OR MORE 501(C)(3) CHARITABLE ORGANIZATIONS.NEW HOPE ALSO FORMS SINGLE-PURPOSE ENTITIES (TYPICALLY LIMITED LIABILITY COMPANIES) TO SERVE AS INVESTMENT FUNDS ("LIHTC FUNDS") THROUGH WHICH LIHTC INVESTORS INVEST IN LOW-INCOME HOUSING PROJECTS THAT ADVANCE THE CHARITABLE PURPOSES OF NEW HOPE BY INCREASING THE POOL OF EQUITY AVAILABLE FOR INVESTMENT IN AFFORDABLE HOUSING AND MAKING EQUITY AVAILABLE TO DISADVANTAGED POPULATIONS OR UNDERSERVED COMMUNITIES. TYPICALLY, A LIHTC FUND WILL HAVE A 99.99% LIMITED PARTNERSHIP INTEREST (OR NON-MANAGING MEMBER INTEREST IN THE CASE OF AN LLC) IN THE ENTITY THAT OWNS THE AFFORDABLE HOUSING PROJECT. NEW HOPE SERVES AS THE MANAGER OF THE LIHTC FUND AND PROVIDES MANAGEMENT AND ADMINISTRATIVE SERVICES FOR WHICH IT RECEIVES FEES.IN ITS 29-YEAR HISTORY, NEW HOPE HAS RAISED MORE THAN $300 MILLION IN EQUITY WHICH HAS BEEN INVESTED IN AFFORDABLE AND MIXED INCOME HOUSING DEVELOPMENTS SPONSORED BY TAX-EXEMPT ORGANIZATIONS. IT HAS SPONSORED OR CO-SPONSORED FOURTEEN INVESTMENT FUNDS WHICH HAVE INVESTED IN MORE THAN 65 AFFORDABLE HOUSING OR MIXED INCOME DEVELOPMENTS IN FOURTEEN STATES THAT HOUSE APPROXIMATELY 5,000 HOUSEHOLDS. NEW HOPE ALSO ADVANCES ITS MISSION BY MAKING GRANTS AND LOANS IN SUPPORT OF AFFORDABLE HOUSING AND COMMUNITY DEVELOPMENT ACTIVITIES AND TAX-EXEMPT ORGANIZATIONS PURSUING SIMILAR MISSIONS, INCLUDING GRANTS TO COMMUNITY BUILDERS. 37938819 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 7 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 1 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 MA X JESSE ELTON 8572218600 33 ARCH STREET 10TH FLOOR BOSTON MA 02110 X ALLEN FELIZ DIRECTOR 0.20 X 0 0 0 BEVERLY BATES DIRECTOR 0.20 X 0 0 0 JENNY NETZER DIRECTOR/PRESIDENT 0.20 X X 0 0 0 LEONARD CLARK DIRECTOR/TREASURER 0.20 X X 0 0 0 MICHAEL GILLIGAN DIRECTOR 0.20 X 0 0 0 NAVJEET BAL OUTGOING DIRECTOR (THRU 9/2024) 0.20 X 0 0 0 JESSICA JESSE ELTON VICE PRESIDENT 0.20 X 0 0 0 THOMAS BUONOPANE VICE PRESIDENT 0.20 X 0 0 0 0 0 0 0 0 0 0 THE COMMUNITY BUILDERS INC 33 ARCH STREET 10TH FLOOR SUITE 10 BOSTON MA 02110 ACCOUNTING AND CONSULTING 655850 1 6197097 13347632 19544729 INTEREST ON NOTE RECEIVABLE 531390 3232655 3232655 ASSET MANAGEMENT FEES 531390 40000 40000 3272655 614507 614507 15221000 0 15221000 15221000 15221000 RECOVERY OF BAD DEBTS 900099 23440 23440 199906 199906 223346 38876237 3496001 0 15835507 34412415 34412415 40000 40000 27552 25915 1637 56410 56410 683817 443219 240598 113482 113482 305 305 2114138 2114138 13941 8825 5116 PROVISION FOR LOAN LOSS 776188 776188 4332 4332 38242580 37938819 303761 0 1393958 1929886 5800000 10078938 54261564 62361940 409851 897885 229323 255830 72560 81230 62167256 75605709 944305 11018877 5800000 412929 44949757 52968966 8604 106690 51702666 64507462 X 10464590 11098247 10464590 11098247 62167256 75605709 633657 0 X 0 1 X 1 0 X 1650000 976265 19544729 22170994 1783879 2339630 4349202 2732193 3272655 14477559 1783879 2339630 5999202 3708458 22817384 36648553 0 0 0 36648553 499133 569763 614507 1683403 499133 569763 614507 1683403 64929 223346 288275 1783879 2404559 6498335 4278221 23655237 38620231 0.94890 0.93100 0.04360 0.06510 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2021 AMOUNT: $ 64,929. 2024 AMOUNT: $ 199,906. RECOVERY OF BAD DEBTS - 2024 AMOUNT: $ 23,440. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO RELATED PARTIES 106690 106690 X 38876237 0 38876237 0 38876237 38242580 0 38242580 0 38242580 PART X, LINE 2: THE CORPORATION IS RECOGNIZED AS A 501(C)(3) CHARITABLE ORGANIZATION AND IS EXEMPT FROM INCOME TAXES WITH RESPECT TO CHARITABLE ACTIVITIES, EXCEPT FOR UNRELATED BUSINESS INCOME. THERE WAS NO UNRELATED BUSINESS INCOME DURING THE YEARS ENDED DECEMBER 31, 2024 AND 2023. ACCORDINGLY, NO PROVISION OR BENEFIT FOR INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. TAX RETURNS REQUIRED TO BE COMPLETED BY TAX-EXEMPT ENTITIES ARE FILED WITH THE INTERNAL REVENUE SERVICE ("IRS") AND OTHER TAXING AUTHORITIES. THESE INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2021 REMAIN OPEN FOR EXAMINATION. 0 THE COMMUNITY BUILDERS INC 33 ARCH STREET 10TH FLOOR BOSTON MA 02110 042324773 501(C)(3) 28763 0 TO SUPPORT COMMUNITY AND ECONOMIC DEVELOPMENT IN CHICAGO, WGWC DEVELOPMENT SERVICES LLC C/O 33 ARCH STREET 10TH FLOOR BOSTON MA 02110 4550000 0 THE DEVELOPMENT OF THE SANKOFA VILLAGE WELLNESS CENTER. GARFIELD PARK WELLNESS CENTER SUPPORT CORPORATION 135 S LASALLE STREET STE 3350 CHICAGO IL 60603 933674867 501(C)(3) 8797632 0 TO PROVIDE FUNDING TO SUPPORT OUR LENDING AND INVESTMENT ACTIVITIES IN LOW AND MODERATE INCOME COMMUNITIES. WASHINGTON PINE LLC 33 ARCH STREET STE 1000 1OTH FL BOSTON MA 02110 833498381 9875000 0 TO PROVIDE FUNDING TO SUPPORT OUR LENDING AND INVESTMENT ACTIVITIES IN LOW AND MODERATE INCOME COMMUNITIES. 250 CENTRE STREET HOUSING LLC 33 ARCH STREET STE 1000 1OTH FL BOSTON MA 02110 823784193 5946000 0 TO PROVIDE FUNDING TO SUPPORT OUR LENDING AND INVESTMENT ACTIVITIES IN LOW AND MODERATE INCOME COMMUNITIES. W GARFIELD PARK C/O 33 ARCH STREET 10TH FLOOR BOSTON MA 02110 331479459 719180 0 TO PROVIDE FUNDING TO SUPPORT OUR LENDING AND INVESTMENT ACTIVITIES IN LOW AND MODERATE INCOME COMMUNITIES. TCB BEACH 21ST LLC C/O 33 ARCH STREET 10TH FLOOR BOSTON MA 02110 831393754 2122903 0 TO PROVIDE FUNDING TO SUPPORT OUR LENDING AND INVESTMENT ACTIVITIES IN LOW AND MODERATE INCOME COMMUNITIES. ATC COMMERCIAL ML LLC C/O 33 ARCH STREET 10TH FLOOR BOSTON MA 02110 042324773 2372937 0 TO PROVIDE FUNDING TO SUPPORT OUR LENDING AND INVESTMENT ACTIVITIES IN LOW AND MODERATE INCOME COMMUNITIES. 2 6 FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION DELEGATED CONTROL OVER MANAGEMENT DUTIES TO ITS MANAGEMENT AGENT, THE COMMUNITY BUILDERS, INC. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE ACCOUNTING DEPARTMENT AND MANAGEMENT OF THE ORGANIZATION. AFTER THEIR REVIEW AND APPROVAL, A COPY OF THE TAX RETURN IS PROVIDED TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. 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