Civic Intelligence

Newtown Housing for the Elderly Inc

EIN 06-0937573 • 501(c)3 • Newtown, CT

Profile

Newtown housing for the elderly, inc. Is a non-profit organization established to provide low cost housing for the elderly aged 62 or older,and for handicapped or disabled persons. And for handicapped or disabled persons.

3 Nunnawauk RoadNewtown, CT 06470

www.nunnawaukmeadows.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

97th percentile

1.67x

Higher debt load relative to assets than 97% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

96th percentile

4.21x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

30th percentile

-4.1%

Higher net margin than 30% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

33rd percentile

-1.8%

Faster asset growth than 33% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

53rd percentile

9.0%

Faster revenue growth than 53% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Assets

Down

$3,724,754

Down $104,430 (-2.7%) from 2023

Liabilities

Up

$6,104,858

Up $11,587 (+0.2%) from 2023

Net Assets

Down

-$2,380,104

Down $116,017 (-5.1%) from 2023

Revenue

Up

$1,328,764

Up $114,686 (+9.4%) from 2023

Expenses

Down

$1,444,781

Down $67,324 (-4.5%) from 2023

Net Income

Up

-$116,017

Up $182,010 (+61%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0-$5.0MAssets 2011: $5,584,849Liabilities 2011: $5,526,474Net Assets 2011: $58,3752011Assets 2012: $6,292,641Liabilities 2012: $5,987,398Net Assets 2012: $305,2432012Assets 2013: $6,061,396Liabilities 2013: $5,983,192Net Assets 2013: $78,2042013Assets 2014: $5,750,709Liabilities 2014: $6,003,447Net Assets 2014: -$252,7382014Assets 2015: $5,545,816Liabilities 2015: $6,017,848Net Assets 2015: -$472,0322015Assets 2016: $5,296,951Liabilities 2016: $6,033,925Net Assets 2016: -$736,9742016Assets 2017: $5,072,598Liabilities 2017: $6,043,530Net Assets 2017: -$970,9322017Assets 2018: $4,901,690Liabilities 2018: $6,051,408Net Assets 2018: -$1,149,7182018Assets 2019: $4,682,763Liabilities 2019: $6,059,569Net Assets 2019: -$1,376,8062019Assets 2020: $4,553,392Liabilities 2020: $6,064,713Net Assets 2020: -$1,511,3212020Assets 2021: $4,297,576Liabilities 2021: $6,074,817Net Assets 2021: -$1,777,2412021Assets 2022: $4,122,202Liabilities 2022: $6,088,262Net Assets 2022: -$1,966,0602022Assets 2023: $3,829,184Liabilities 2023: $6,093,271Net Assets 2023: -$2,264,0872023Assets 2024: $3,724,754Liabilities 2024: $6,104,858Net Assets 2024: -$2,380,1042024

Highlighted filing

2024

Assets$3,724,754
Liabilities$6,104,858
Net Assets-$2,380,104

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2011: $1,213,2182011Expenses 2012: $1,287,1122012Revenue 2013: $1,105,627Expenses 2013: $1,332,666Net Income 2013: -$227,0392013Revenue 2014: $1,044,769Expenses 2014: $1,375,711Net Income 2014: -$330,9422014Revenue 2015: $1,146,160Expenses 2015: $1,365,454Net Income 2015: -$219,2942015Revenue 2016: $1,103,864Expenses 2016: $1,368,806Net Income 2016: -$264,9422016Revenue 2017: $1,141,874Expenses 2017: $1,375,832Net Income 2017: -$233,9582017Revenue 2018: $1,160,977Expenses 2018: $1,339,763Net Income 2018: -$178,7862018Revenue 2019: $1,197,119Expenses 2019: $1,424,207Net Income 2019: -$227,0882019Revenue 2020: $1,175,622Expenses 2020: $1,310,137Net Income 2020: -$134,5152020Revenue 2021: $1,166,846Expenses 2021: $1,380,271Net Income 2021: -$213,4252021Revenue 2022: $1,161,779Expenses 2022: $1,350,598Net Income 2022: -$188,8192022Revenue 2023: $1,214,078Expenses 2023: $1,512,105Net Income 2023: -$298,0272023Revenue 2024: $1,328,764Expenses 2024: $1,444,781Net Income 2024: -$116,0172024

Highlighted filing

2024

Revenue$1,328,764
Expenses$1,444,781
Net Income-$116,017

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.72$6.10$2.38$1.33$1.44$0.12
2023Detailed filing. Detailed filing data is available for this year.$3.83$6.09$2.26$1.21$1.51$0.30
2022Detailed filing. Detailed filing data is available for this year.$4.12$6.09$1.97$1.16$1.35$0.19
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.30$6.07$1.78$1.17$1.38$0.21
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.55$6.06$1.51$1.18$1.31$0.13
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.68$6.06$1.38$1.20$1.42$0.23
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.90$6.05$1.15$1.16$1.34$0.18
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.07$6.04$0.97$1.14$1.38$0.23
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.30$6.03$0.74$1.10$1.37$0.26
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.55$6.02$0.47$1.15$1.37$0.22
2014Detailed filing. Detailed filing data is available for this year.$5.75$6.00$0.25$1.04$1.38$0.33
2013Detailed filing. Detailed filing data is available for this year.$6.06$5.98$0.08$1.11$1.33$0.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.29$5.99$0.31$1.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.58$5.53$0.06$1.21
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 27, 2025
Return Version
2024v5.1
Gross Receipts
$1,328,764
Mission and Program Overview

Mission

Newtown housing for the elderly, inc., ("nhe"), is a non-profit organization established to provide low cost housing for those persons aged sixty-two or older and to those persons who are handicapped or disabled. Nhe operates nunnawauk meadows, a 134-unit apartment complex located in newtown, ct. Long-term financing is provided under section 515 of the housing act of 1949. Nhe has entered into an interest credit and rental assistance agreement with usda-rural development ("usda-rd"), whereby rental and operating methods are prescribed. Usda-rd is a division of the u. S. Department of agriculture and is major source of revenue for nhe.

Newtown Housing for the Elderly, Inc. is a Non-Profit Organization established to provide low cost housing for the elderly aged 62 or older, and for handicapped or disabled persons.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,973,724$2,763,905▼ $209,819
Savings and Temporary Cash Investments$672,832$751,242▲ $78,410
Cash and Non-Interest-Bearing Accounts$179,370$170,500▼ $8,870
Accounts Receivable$10,582$19,828▲ $9,246
Prepaid Expenses and Deferred Charges$2,136$19,279▲ $17,143
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$3,838,644$3,724,754▼ $113,890
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,973,382$5,969,422▼ $3,960
Other Liabilities$93,612$92,318▼ $1,294
Accounts Payable and Accrued Expenses$35,737$43,118▲ $7,381
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$6,102,731$6,104,858▲ $2,127
Net Assets / Fund Balance
Net Assets With Donor Restrictions$32,102$31,450▼ $652
Net Assets Without Donor Restrictions$-2,296,189$-2,411,554▼ $115,365
Total Net Assets Fund Balance$-2,264,087$-2,380,104▼ $116,017
Total Liabilities and Net Assets / Fund Balance$3,838,644$3,724,754▼ $113,890

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,175,487$5,062,583$7,238,070
Leasehold Improvements$530,718$1,103,733$1,634,451
Equipment$57,699$154,835$212,534
Land$1-$1
Compensation and Service Providers

Board Members and Trustees

NameTitle
Richard SimoneauPresident
Melanie MattegatVice President
Christina DavisDirector
David ManzerDirector
Rick MazzarielloDirector
Rodger BraleyDirector
Robin Lynn BuchananSecretary
Sue LoRussoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$478,979
Program Service Revenue
$834,061
Investment Income
$15,724
Other Revenue
$0
All Other Contributions
$5,235
Change in Net Assets
$-116,017

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,328,764
Total Revenue per Audited Statements
$1,328,764
Total Revenue per Form 990
$1,328,764
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$899,298
Salaries, Compensation, and Employee Benefits$545,483
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$289,260$256,223-$545,483
Interest$202,217$22,469-$224,686
Depreciation Depletion$197,599$21,955-$219,554
Occupancy$135,161$15,018-$150,179
Insurance$121,133$13,459-$134,592
Office Expenses$38,974$4,330-$43,304
Other Expenses$13,321$1,480-$14,801
Total Functional Expenses$1,109,847$334,934$0$1,444,781

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,444,781
Total Expenses per Audited Statements$1,444,781
Total Expenses per Form 990$1,444,781
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$84,727
Lease Liability$7,591
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B - Organization'S Review of Form 990

The Form 990 is reviewed by the President and members of the Board prior to filing.

Form 990, Part VI, Line 15A - Compensation of Top Official

Salaries & benefits are approved by board of directors within the specified budget.

Form 990, Part VI, Line 15B - Compensation Process for Officers

Salaries & benefits are approved by board of directors within the specified budget.

Form 990, Part VI, Line 19 - Documents Disclosure Explanation

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Newtown Housing for the Elderly Inc
EIN
06-0937573
In Care Of
% MARY SALLEY
Phone
2034265000
Address
3 Nunnawauk Road, Newtown, CT 06470

Signing Officer

Name
Richard Simoneau
Title
President
Phone
2034265000
Signed
2025-03-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Simoneau
Formed
1970
Legal Domicile
Ct
Voting Board Members
8
Independent Board Members
8
Employees
8
Volunteers
8

Preparer

Firm
Nanavaty Davenport Studley White
Address
123 South Main St Suite 140, Newtown, CT 06470
Preparer
Glenn J Nanavaty
Phone
2034268500
Supplemental Narrative

Financial Statement Notes

Part X, Line 2

The organization recognizes the benefits of income tax positions only if those positions are more likely than not of being sustained. The organization is subject to routine audits by the Internal Revenue Service. There are currently no audits for any tax periods in progress and the organization believes that it is no longer subject to audits for years prior to 2021.

Raw XML AppendixShowing 400 of 503 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0NEWTOWN HOUSING FOR THE ELDERLY, INC., ("NHE"), IS A NON-PROFIT ORGANIZATION ESTABLISHED TO PROVIDE LOW COST HOUSING FOR THOSE PERSONS AGED SIXTY-TWO OR OLDER AND TO THOSE PERSONS WHO ARE HANDICAPPED OR DISABLED. NHE OPERATES NUNNAWAUK MEADOWS, A 134-UNIT APARTMENT COMPLEX LOCATED IN NEWTOWN, CT. LONG-TERM FINANCING IS PROVIDED UNDER SECTION 515 OF THE HOUSING ACT OF 1949. NHE HAS ENTERED INTO AN INTEREST CREDIT AND RENTAL ASSISTANCE AGREEMENT WITH USDA-RURAL DEVELOPMENT ("USDA-RD"), WHEREBY RENTAL AND OPERATING METHODS ARE PRESCRIBED. USDA-RD IS A DIVISION OF THE U. S. DEPARTMENT OF AGRICULTURE AND IS MAJOR SOURCE OF REVENUE FOR NHE.
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IRS990/PrincipalOfficerNm0RICHARD SIMONEAU
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LEASE LIABILITY
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The organization recognizes the benefits of income tax positions only if those positions are more likely than not of being sustained. The organization is subject to routine audits by the Internal Revenue Service. There are currently no audits for any tax periods in progress and the organization believes that it is no longer subject to audits for years prior to 2021.

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