NEW WAY HOMES INC: Form 990, tax year 2016

View the entire original 990 at ProPublica ↗

Organization
NEW WAY HOMES INC (EIN 47-4091853)
Tax period
2016-01-01 to 2016-12-31
Filed
2017-11-09
IRS object ID
201703139349302150
Schema version
2016v3.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2017-11-09T12:32:34-05:00ReturnTs
Tax Period End2016-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN470937039PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ProAccurate Tax Consulting GroupBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line16620 N Muscatel AveAddressLine1Txt
CitySan GabrielCityNm
State AbbreviationCAStateAbbreviationCd
ZIP91775ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2016-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN474091853EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1NEW WAY HOMES INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlNEWWBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line11040 MYSTERY SPOT ROADAddressLine1Txt
CitySanta CruzCityNm
State AbbreviationCAStateAbbreviationCd
ZIP95065ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonSibley SimonPersonNm
Person TitlePresidentPersonTitleTxt
Signature2017-08-08SignatureDt
Discuss With Paid PreparerfalseDiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonAlex YeungPreparerPersonNm
PTINP00540933PTIN
Phone6263196216PhoneNum
Preparation2017-11-09PreparationDt
Self EmployedYes (X)SelfEmployedInd

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address38.98.53.9IPv4AddressTxt
FieldValueIRS element (for citing)
IP2017-11-09IPDt
IP Tm12:33:26IPTm
Federal Original Submission Id9660012017313oxv2zs4FederalOriginalSubmissionId
Federal Original Submission Id2017-11-09FederalOriginalSubmissionIdDt
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device Id6F0F953B3C3B8959664A683E5ECA7F4F235CBFFEAtSubmissionCreationDeviceId
At Submission Filing Device Id6F0F953B3C3B8959664A683E5ECA7F4F235CBFFEAtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2016TaxYr
Build TS2017-02-10 21:41:12ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerSibley SimonPrincipalOfficerNm
Gross Receipts$502,159GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website Addresswww.newwayhomes.orgWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2015FormationYr
Legal Domicile StateCALegalDomicileStateCd
Activity Or MissionNWH was formed to largely 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.ActivityOrMissionDesc
Voting Members Governing Body8VotingMembersGoverningBodyCnt
Voting Members Independent8VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers10TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$1,500PYContributionsGrantsAmt
CY Contributions Grants$500,000CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
CY Investment Income$2,159CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$1,500PYTotalRevenueAmt
CY Total Revenue$502,159CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$9,311PYOtherExpensesAmt
CY Other Expenses$65,746CYOtherExpensesAmt
PY Total Expenses$9,311PYTotalExpensesAmt
CY Total Expenses$65,746CYTotalExpensesAmt
PY Revenues Less Expenses-$7,811PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$436,413CYRevenuesLessExpensesAmt
Total Assets BOY$1,500TotalAssetsBOYAmt
Total Assets EOY$683,367TotalAssetsEOYAmt
Total Liabilities BOY$9,311TotalLiabilitiesBOYAmt
Total Liabilities EOY$253,765TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY-$7,811NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$429,602NetAssetsOrFundBalancesEOYAmt
MissionNWH was formed to largely 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.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$60,335ExpenseAmt
Grant$500,000GrantAmt
DescTo create or enable the creation of below market rental housing for under-housed populations in California, including permanent supportive housing, housing for households with voucher subsidies, low-income and workforce housing, farmworker housing, student housing,etc, including by providing impact investment capital to new housing development projects.Desc
Total Program Service Expenses$60,335TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Temp Or Permanent EndowmentsfalseTempOrPermanentEndowmentsInd
Report Land Building EquipmentfalseReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (true)IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (true)ConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With Officer EntfalseBusinessRlnWithOfficerEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document1IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld CompliancefalseBackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
DAF Excess Business HoldingsfalseDAFExcessBusinessHoldingsInd
Taxable DistributionsfalseTaxableDistributionsInd
Distribution To DonorfalseDistributionToDonorInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members8GoverningBodyVotingMembersCnt
Independent Voting Member8IndependentVotingMemberCnt
Family Or Business RlnYes (true)FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
States Where Copy Of Return Is FldCAStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonSibley SimonPersonNm
Phone8314194091PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11040 Mystery Spot RoadAddressLine1Txt
CitySanta CruzCityNm
State AbbreviationCAStateAbbreviationCd
ZIP95065ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
James Rector
Treasurer1.250.00Yes (X)Yes (X)$0$0$0
Robert Singleton
Secretary0.500.00Yes (X)Yes (X)$0$0$0
Ed Durkee
Director0.500.00Yes (X)$0$0$0
Kim Edmonds
Director0.500.00Yes (X)$0$0$0
Owen Lawlor
Director0.500.00Yes (X)$0$0$0
Aura Oslapas
Director0.500.00Yes (X)$0$0$0
Micah Silvey
Director0.500.00Yes (X)$0$0$0
Christine Sippl
Director0.500.00Yes (X)$0$0$0
Sibley Simon
President18.500.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
All Other Contributions$500,000AllOtherContributionsAmt
Total Contributions$500,000TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,159TotalRevenueColumnAmt
Related Or Exempt Func Income$2,159RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$502,159TotalRevenueColumnAmt
Related Or Exempt Func Income$2,159RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$20,714TotalAmt
Program Services$18,574ProgramServicesAmt
Management And General$2,140ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$30,632TotalAmt
Program Services$29,053ProgramServicesAmt
Management And General$1,579ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$300TotalAmt
Program Services$300ProgramServicesAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$840TotalAmt
Program Services$785ProgramServicesAmt
Management And General$55ManagementAndGeneralAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$11,623TotalAmt
Program Services$11,623ProgramServicesAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtManagement And GeneralManagementAndGeneralAmt
Subscription$338$338
Postage$209$209
Bank Charge$35$35
Business registration fee$55$55

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$1,000TotalAmt
Management And General$1,000ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$65,746TotalAmt
Program Services$60,335ProgramServicesAmt
Management And General$5,411ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$1,500BOYAmt
EOY$531,424EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
EOY$150,000EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
EOY$1,943EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$1,500BOYAmt
EOY$683,367EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$8,407BOYAmt
EOY$2,142EOYAmt

Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp

FieldValueIRS element (for citing)
EOY$251,623EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$904BOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$9,311BOYAmt
EOY$253,765EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY-$7,811BOYAmt
EOY$429,602EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY-$7,811BOYAmt
EOY$429,602EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,500BOYAmt
EOY$683,367EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss$436,413ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$1,000OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewYes (true)AccountantCompileOrReviewInd

Acct Compile Or Review Basis AcctCompileOrReviewBasisGrp

FieldValueIRS element (for citing)
Consol And Sep Basis Fincl StmtYes (X)ConsolAndSepBasisFinclStmtInd
FieldValueIRS element (for citing)
FS AuditedYes (true)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consol And Sep Basis Fincl StmtYes (X)ConsolAndSepBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (true)AuditCommitteeInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$1,500CurrentTaxYearMinus1YearAmt
Current Tax Year$500,000CurrentTaxYearAmt
Total$501,500TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$1,500CurrentTaxYearMinus1YearAmt
Current Tax Year$500,000CurrentTaxYearAmt
Total$501,500TotalAmt
FieldValueIRS element (for citing)
Public Support Total170$501,500PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year$2,159CurrentTaxYearAmt
Total$2,159TotalAmt
FieldValueIRS element (for citing)
Total Support$503,659TotalSupportAmt
First5 Years170Yes (X)First5Years170Ind
Public Support CY1700.00000PublicSupportCY170Pct

Schedule D IRS990ScheduleD

Other Assets Org OtherAssetsOrgGrp

FieldValueIRS element (for citing)
DescINTEREST RECEIVABLEDesc
Book Value$1,943BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Other Assets$1,943TotalBookValueOtherAssetsAmt
Total Rev Etc Audited Fincl Stmt$500,000TotalRevEtcAuditedFinclStmtAmt
Revenue Subtotal$500,000RevenueSubtotalAmt
Total Revenue Per Form990$500,000TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$65,745TotExpnsEtcAuditedFinclStmtAmt
Expenses Subtotal$65,745ExpensesSubtotalAmt
Total Expenses Per Form990$65,745TotalExpensesPerForm990Amt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Officer directors etc family relationship Part VI line 2There is a family relationship in different officers
Governing body meeting documentation Part VI line 8aGoverning body will review the meeting documentation.
Form 990 governing body review Part VI line 11Governing body will review all financials.
Conflict of interest policy compliance Part VI line 12cOrganizations Conflict of Interest Policy requires governing body actions in advance of interested transactions. In addition, as required by the Organizations bylaws, the President prepares a report for the Organizations directors annually that reviews any interested transactions and compliance with the Organizations Conflict of Interest Policy.
Governing documents etc available to public Part VI line 19The Organiation holds copies of its governing documents, Conflict of Interest Policy and financial statements at its registered place of business and makes them available upon request to any member of the public.
Explanation of other changes in net assets or fund balances Part XI line 9There is an adjustment on the net assets between prior and current year.
List of other fees for services expenses Part IX line 11gGraphics Design & Digital Media $2,079Investment Consultant $3,553Broker/Dealer Due Diligence Fee $25,000

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