2017-11-13T09:47:58-06:00 2016-12-31 042571780 ALEXANDER ARONSON FINNING & CO PC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2016-01-01 042690210 NEWVUE COMMUNITIES INC NEWV 9783429561 470 MAIN STREET FITCHBURG MA 01420 MARC DOHAN EXECUTIVE DIRECTOR 9783429561 2017-11-13 1 MATTHEW HUTT CPA P01070603 5083669100 2017-11-07 64.238.141.162 2017-11-13 10:44:07 ES P C3B1CA5E9EDD1B55B0F6E2DA0EC022650C85F82C 6D095379B11E9419142C5CE570F93EEB6E803F1B 2016 2017-02-10 21:41:12Z MARC DOHAN 470 MAIN STREET FITCHBURG MA 01420 1753937 0 X WWW.NEWVUECOMMUNITIES.ORG X 1979 MA LED BY COMMUNITY MEMBERS OF DIVERSE INCOME AND BACKGROUNDS, WE DEVELOP QUALITY HOUSING, CREATE ECONOMIC OPPORTUNITIES, AND FOSTER CIVIC ENGAGEMENT IN NORTH CENTRAL MASSACHUSETTS. 15 15 21 558 0 0 1170397 1520581 254950 216044 4427 3493 7285 13819 1437059 1753937 39261 0 0 0 777002 944995 0 0 0 465895 4451037 1282158 5396032 154901 -3642095 9019835 5336123 596052 533429 8423783 4802694 X NEWVUE COMMUNITIES, INC. (NVC) IS A MEMBERSHIP ORGANIZATION LED BY THE DIVERSE RESIDENT AND BUSINESS COMMUNITIES OF NORTH CENTRAL MASSACHUSETTS. WE INVEST IN AND ORGANIZE RESIDENTS TO HELP OUR COMMUNITIES BUILD ASSETS, SUCH AS QUALITY HOUSING, GOOD JOBS, STRONG BUSINESSES AND EFFECTIVE LEADERS. WE ENVISION NEIGHBORHOODS WHERE RESIDENTS CHOOSE TO LIVE, WORK AND INVEST, THEREBY FORMING A POWERFUL UNIFIED COMMUNITY. 0 1 425307 19232 HOMEOWNERSHIP: ASSISTS HOMEBUYERS TO BUY A HOME, KEEP A HOME, AND MAINTAIN A HOME. OUR FOCUS IS ON ASSISTING FIRST TIME HOMEBUYERS WHO ARE OF LOW TO MODERATE INCOME TO PURCHASE THEIR FIRST HOME, AND TO HELP LOW AND MODERATE INCOME HOMEBUYERS WHO ARE FACING THE THREAT OF FORECLOSURE TO KEEP THEIR HOME. 224526 169685 HOUSING DEVELOPMENT: DEVELOPS QUALITY HOUSING FOR LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES. 165196 COMMUNITY ORGANIZING/PLANNING: ENGAGE RESIDENTS AND DEVELOP LEADERS TO HELP BUILD POWERFUL HEALTHY NEIGHBORHOODS. 147627 SMALL BUSINESS: WE SEEK TO CREATE AND RETAIN STRONG BUSINESSES AND GOOD JOBS. WE FOCUS OUR EFFORTS ON MICRO-ENTERPRISES. WE PROMOTE THE ABILITY OF AREA RESIDENTS TO OWN AND OPERATE THEIR OWN BUSINESSES AND GROW AND REVITALIZE EXISTING FIRMS. 67951 ASSET MANAGEMENT: NVC OUTSOURCES ITS PROPERTY MANAGEMENT TO HELP CONTROL MAINTENANCE COSTS, DEVELOP STREAMLINED PROCEDURES AND TO BETTER MANAGE OUR FACILITIES. SERVICES ARE PROVIDED BY WINGATE MANAGEMENT, WHICH SPECIALIZES IN AFFORDABLE HOUSING MANAGEMENT WHILE MAINTAINING A MIX OF CONDOMINIUM AND COMMERCIAL CONTRACTS. WINGATE MANAGEMENT WILL WORK IN PARTNERSHIP WITH NVC TO ENSURE CONTINUED DELIVERY OF QUALITY REAL ESTATE MANAGEMENT SERVICES TO RESIDENTS. 43611 27127 LEIGHTON HOUSING: PROVIDE PERMANENT SUPPORTIVE HOUSING FOR HOMELESS INDIVIDUALS IN RECOVERY. DURING 2016, THE LEIGHTON STREET PROPERTY WAS TRANSFERRED TO NEWVUE AFFORDABLE HOUSING CORPORATION, A RELATED NON-PROFIT ORGANIZATION. 259189 27127 1074218 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 1 28 0 1 21 1 0 0 0 0 0 0 0 0 0 0 X 15 15 0 1 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 MA X ANNE MOLA CHIEF FINANCIAL AND OPERATING OFFICER 9783429561 470 MAIN STREET FITCHBURG MA 01420 ANDY VAN HAZINGA BOARD PRESIDENT 2.00 1.00 X X 0 0 0 PAMELA LAWRENCE BOARD VICE PRESIDENT 2.00 X X 0 0 0 TOM GRAY BOARD TREASURER 1.00 1.00 X X 0 0 0 TIM SAPPINGTON ASSISTANT TREASURER 1.00 X X 0 0 0 CHRISTINA GONZALEZ BOARD CLERK 1.00 X X 0 0 0 BARBARA ABRAHAM BOARD ASSISTANT CLERK 1.00 X X 0 0 0 BILL BRASSARD BOARD DIRECTOR 1.00 X 0 0 0 JAY BRY BOARD DIRECTOR 1.00 X 0 0 0 DANIEL FLYNN BOARD DIRECTOR 1.00 X 0 0 0 RICHARD WILLIAMS BOARD DIRECTOR 1.00 X 0 0 0 CAROL HICKS BOARD DIRECTOR 1.00 X 0 0 0 EMILY MACRAE BOARD DIRECTOR 1.00 X 0 0 0 MARITZA RIVERA BOARD DIRECTOR 1.00 X 0 0 0 ERIC RODRIGUEZ BOARD DIRECTOR 1.00 X 0 0 0 JAMES MOMANYI BOARD DIRECTOR 1.00 X 0 0 0 MARC DOHAN EXECUTIVE DIRECTOR 40.00 1.00 X 123600 0 0 ANNE MOLA CHIEF FINANCIAL AND OPERAT 40.00 X 113925 0 0 237525 0 0 2 0 0 0 QUALITY CONTRACTING 534 CAMBRIDGE STREET WORCESTER MA 01610 GENERAL CONTRACTOR 1059434 DAVIS SQUARE ARCHITECTS 240 ELM STREET SOMERVILLE MA 02144 ARCHITECT SERVICES 117166 2 750533 770048 1520581 FEES AND PROJECT REIMB 531390 169685 169685 RENTAL FEES 532000 27127 27127 PROGRAM SERVICE FEES 541900 19232 19232 216044 3493 3493 MISCELLANEOUS 900099 13819 13819 13819 1753937 216044 0 17312 237526 143483 94043 563690 448383 115307 12000 8865 3135 58043 49665 8378 73736 54505 19231 1980 1980 2184 1641 543 33888 27052 6836 47711 44589 3122 30057 24515 5542 13253 10785 2468 37505 30456 7049 13814 10857 2957 16171 15678 493 10227 10227 NET LOSS FROM UNWIND OF 4025143 4025143 CONSULTING AND CONTRACT 134931 128487 6444 PROGRAM FEES AND SUPPLI 27217 26110 1107 SUBCONTRACT 16654 16654 40302 20286 20016 5396032 1074218 4321814 0 148416 111851 1278546 1150061 88085 88334 3579207 710921 2818 24003 0 541473 1100110 110 2281180 3250843 9019835 5336123 65608 233429 530444 300000 596052 533429 X 7514636 3432966 93397 291564 815750 1078164 8423783 4802694 9019835 5336123 X -3642095 21006 X X 0 1 X 1 1 1 X 773926 1225604 1111475 1170397 1520581 5801983 773926 1225604 1111475 1170397 1520581 5801983 1019013 4782970 6694 9891 4713 4427 3493 29218 28157 7285 13819 49261 5880462 1844261 0.81340 0.85300 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2013 AMOUNT: $ 28,157. 2015 AMOUNT: $ 7,285. 2016 AMOUNT: $ 13,819. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE FROM AFFILIATES 2509437 PROJECTS UNDER DEVELOPMENT 741406 3250843 X PART X, LINE 2: NVC ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATING FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. NVC HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATING FINANCIAL STATEMENTS AT DECEMBER 31, 2016. HOWEVER, NVC'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE APPROPRIATE TAXING JURISDICTIONS. NEWVUE AFFORDABLE HOUSING CORPORATION RELATED NON-PROFIT ORGANIZATION -12535 DURING 2016, NEWVUE COMMUNITIES, INC. TRANSFERRED REAL PROPERTY LOCATED AT 4 LEIGHTON STREET, FITCHBURG, MASSACHUSETTS, AS WELL AS THE RELATED NOTES PAYABLE, ACCRUED EXPENSES AND ACCOUNTS PAYABLE TO NEWVUE AFFORDABLE HOUSING CORPORATION, A RELATED NON-PROFIT ORGANIZATION. THE NET BOOK VALUE OF THE PROPERTY TRANSFERRED TOTALED $1,982,054, NET OF NOTES PAYABLE, ACCRUED EXPENSES AND ACCOUNTS PAYABLE TOTALING $1,969,519. 0 FORM 990, PART III, LINE 3 DURING 2016, NVC TRANSFERRED THE REAL PROPERTY LOCATED AT 4 LEIGHTON STREET, FITCHBURG, MA AND THE RELATED PROGRAM SERVICES TO NEWVUE AFFORDABLE HOUSING CORPORATION, A RELATED NON-PROFIT ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 3 NVC DELEGATES CONTROL OVER MANAGEMENT DUTIES CUSTOMARILY PERFORMED BY OR UNDER THE DIRECT SUPERVISION OF OFFICERS TO A MANAGEMENT COMPANY. THE MANAGEMENT COMPANY HANDLES THE OPERATING ACTIVITY RELATING TO THE RENTAL PROJECTS. FORM 990, PART VI, SECTION A, LINE 6 ELIGIBLE MEMBERS (BOTH RESIDENTS AND NON-RESIDENTS) ARE ENTITLED TO ONE VOTE ON EACH MATTER BROUGHT TO VOTE TO GENERAL MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A NVC HAS MEMBERS WHO LIVE OR WORK IN NORTH CENTRAL MASSACHUSETTS WHO ELECT THE BOARD AND HAVE CERTAIN POWERS WITH RESPECT TO CHANGING THE BYLAWS AND ARTICLES. FORM 990, PART VI, SECTION B, LINE 11B AFTER COMPLETION OF FORM 990, THE FORM IS SUBMITTED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO SUBMISSION OF FORM 990. FORM 990, PART VI, SECTION B, LINE 12C NVC REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY HAVING THE BOARD MEMBERS SIGN THIS POLICY ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 SALARIES ARE REVIEWED BY THE BOARD OF DIRECTORS TO ENSURE THEY ARE COMPARABLE TO OTHER ORGANIZATIONS AND REASONABLE FOR JOB PERFORMED. THE SALARIES ARE APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 NVC'S FORM 990 IS AVAILABLE AT WWW.GUIDESTAR.ORG AND UPON REQUEST. NVC'S FORM 1023 IS AVAILABLE UPON REQUEST. FORM 990, PART VI, LINE 16B: DURING 2016, NVC WAS PART OF JOINT VENTURE ARRANGEMENTS WITH 142 WATER STREET LIMITED PARTNERSHIP AND 470 MAIN STREET, LLC, TWO RELATED PARTY PARTNERSHIPS, IN CONNECTION WITH THEIR LOW INCOME HOUSING TAX CREDIT AND NEW MARKETS TAX CREDIT (NMTC) FINANCING STRUCTURE, RESPECTIVELY. NVC'S POLICY OVER EVALUATING ITS PARTICIPATION IN JOINT VENTURE ARRANGEMENTS INVOLVES AN ASSESSMENT PERFORMED BY NVC'S MANAGEMENT AND BOARD OF DIRECTORS TO ENSURE THE TERMS OF ANY POTENTIAL JOINT VENTURE RELATIONSHIP IS PERMITTED UNDER APPLICABLE FEDERAL TAX LAW AND NVC'S EXEMPT STATUS IS BEING SAFEGUARDED. IN ADDITION, FORMAL OPERATING AND OTHER APPLICABLE AGREEMENTS ARE FORMALLY EXECUTED BY ALL PARTIES INVOLVED AND CLEARLY OUTLINE NVC'S ROLE IN ALL JOINT VENTURE RELATIONSHIPS. FORM 990, PART XI, LINE 9: TRANSFER OF PERMENANTLY RESTRICTED NET ASSETS FROM NEWVUE AFFORDABLE HOUSING CORPORATION (NAHC), A RELATED NON-PROFIT ORGANIZATION $187,414 TRANSFER OF NET ASSETS TO NEWVUE COMMUNITIES, INC. TO NAHC, RELATING TO THE TRANSFER OF REAL PROPERTY LOCATED AT 4 LEIGHTON STREET, FITCHBURG, MA (166,408) TOTAL OTHER CHANGES IN NET ASSETS $21,006 FORM 990, PART XII, LINE 2C: THE FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED IN 2016. 261 WEST STREET 470 MAIN STREET FITCHBURG MA 01420 042690210 REAL ESTATE DEVELOPMENT MA NEWVUE COMMUNITIES INC NEWVUE AFFORDABLE HOUSING CORPORATION 470 MAIN ST FITCHBURG MA 01420 043271288 HOUSING DEVELOPMENT MA 501(C)(2) NEWVUE COMMUNITIES INC 1 470 MAIN STREET LLC 470 MAIN ST FITCHBURG MA 01420 261573576 RENTAL REAL ESTATE MA 470 MAIN STREET MANAGER CORP RELATED -39 0 0 0.00010 142 WATER ST LIMITED PARTNERSHIP 470 MAIN ST FITCHBURG MA 01420 453049463 RENTAL REAL ESTATE MA N/A 470 MAIN STREET MANAGER CORP 470 MAIN STREET FITCHBURG MA 01420 262058379 REAL ESTATE MANAGEMENT MA NEWVUE AFFORDABLE HOUSING CORPORATION C 0 LEOMINSTER AFFORDABLE HOUSING CORPORATION 470 MAIN STREET FITCHBURG MA 01420 272886194 REAL ESTATE DEVELOPMENT MA NEWVUE COMMUNITIES INC C -1234 2052608 1.00000 1 142 WATER STREET GP LLC 470 MAIN STREET FITCHBURG MA 01420 900946748 REAL ESTATE DEVELOPMENT MA LEOMINSTER AFFORDABLE HOUSING CORPORATION C 0 0 0 0 1 0 0 0 0 1 0 0 1 0 1 1 0 0 1 1 NEWVUE AFFORDABLE HOUSING CORPORATION R 780377 BOOK VALUE NEWVUE AFFORDABLE HOUSING CORPORATION S 187414 BOOK VALUE NEWVUE AFFORDABLE HOUSING CORPORATION R 166408 BOOK VALUE