Civic Intelligence

New Beginning for Special Needs Inc.

990 • Fiscal year 2023 • EIN 81-2550940

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 18, 2024

535 Walnut StreetNorwood, NJ 07648

(201) 328-4566

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

88th percentile

0.57x

Higher debt load relative to assets than 88% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

84th percentile

0.39x

Higher debt load relative to revenue than 84% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

71st percentile

18%

Higher net margin than 71% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

98th percentile

403%

Faster asset growth than 98% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

78th percentile

40%

Faster revenue growth than 78% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Up

$345,675

Up $276,964 (+403%) from 2022

Net Assets

Up

$149,440

Up $92,324 (+162%) from 2022

Liabilities

Up

$196,235

Up $184,640 (+1592%) from 2022

Revenue

Up

$507,983

Up $146,264 (+40%) from 2022

Expenses

Up

$415,659

Up $81,963 (+25%) from 2022

Net Income

Up

$92,324

Up $64,301 (+229%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2016: $6,170Liabilities 2016: $0Net Assets 2016: $6,1702016Assets 2017: $29,227Liabilities 2017: $0Net Assets 2017: $29,2272017Assets 2018: $25,838Liabilities 2018: $92Net Assets 2018: $25,7462018Assets 2019: $21,730Liabilities 2019: $0Net Assets 2019: $21,7302019Assets 2020: $31,230Liabilities 2020: $0Net Assets 2020: $31,2302020Assets 2021: $33,840Liabilities 2021: $4,747Net Assets 2021: $29,0932021Assets 2022: $68,711Liabilities 2022: $11,595Net Assets 2022: $57,1162022Assets 2023: $345,675Liabilities 2023: $196,235Net Assets 2023: $149,4402023Assets 2024: $348,063Liabilities 2024: $142,754Net Assets 2024: $205,3092024

Highlighted filing

2023

Assets$345,675
Liabilities$196,235
Net Assets$149,440

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$800K$600K$400K$200K$0-$200KRevenue 2016: $12,100Expenses 2016: $5,930Net Income 2016: $6,1702016Revenue 2017: $30,796Expenses 2017: $7,739Net Income 2017: $23,0572017Revenue 2018: $20,228Expenses 2018: $23,709Net Income 2018: -$3,4812018Revenue 2019: $22,983Expenses 2019: $26,999Net Income 2019: -$4,0162019Revenue 2020: $15,247Expenses 2020: $5,747Net Income 2020: $9,5002020Revenue 2021: $135,683Expenses 2021: $137,820Net Income 2021: -$2,1372021Revenue 2022: $361,719Expenses 2022: $333,696Net Income 2022: $28,0232022Revenue 2023: $507,983Expenses 2023: $415,659Net Income 2023: $92,3242023Revenue 2024: $631,679Expenses 2024: $575,810Net Income 2024: $55,8692024

Highlighted filing

2023

Revenue$507,983
Expenses$415,659
Net Income$92,324
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 18, 2024
Return Version
2023v5.1
Gross Receipts
$507,983
Mission and Program Overview

Mission

New beginning for special needs, inc. Is to provide care services to whom needs special care.

Organization provides special-needs individuals with services and tools that can promote independence while creating stronger ties to our communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$42,657$118,649▲ $75,992
Investments Other Securities$10,154$20,932▲ $10,778
Intangible Assets$900$440▼ $460
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$68,711$345,675▲ $276,964
Other Assets Total$15,000$205,654▲ $190,654
Liabilities
Other Liabilities$5,776$192,043▲ $186,267
Accounts Payable and Accrued Expenses$5,819$4,192▼ $1,627
Total Liabilities$11,595$196,235▲ $184,640
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$57,116$149,440▲ $92,324
Total Net Assets Fund Balance$57,116$149,440▲ $92,324
Total Liabilities and Net Assets / Fund Balance$68,711$345,675▲ $276,964

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$3,000--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Haejoong ChangPresident
Julia ParkDirector
James LeeTrustee
Sang-joon KimTrustee
Yong KimTrustee
Ahjn LeeSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$57,390
Program Service Revenue
$450,591
Investment Income
$2
Other Revenue
$0
All Other Contributions
$57,390
Change in Net Assets
$92,324

Audited Revenue Reconciliation

Revenue per Audited Statements
$507,983
Total Revenue per Audited Statements
$507,983
Total Revenue per Form 990
$507,983
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$232,831
Salaries, Compensation, and Employee Benefits$182,828
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$156,486--$156,486
Occupancy$69,300$7,700-$77,000
Payroll Taxes$18,166--$18,166
Other Employee Benefits$8,176--$8,176
Insurance$5,616$747-$6,363
All Other Expenses$1,320$1,839-$3,159
Fees for Services Other-$2,577-$2,577
Other Expenses$1,646$509-$1,646
Office Expenses-$1,607-$1,607
Depreciation Depletion-$460-$460
Advertising$432--$432
Total Functional Expenses$400,220$15,439$0$415,659

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$415,659
Total Expenses per Audited Statements$415,659
Total Expenses per Form 990$415,659
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long -Term Liabilities$121,788
Operating Lease payable within a year$65,866
Payroll Liabilities$4,389
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
No
Backup withholding compliance
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
No
Other officer compensation reviewed
No
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, Section A, Line 2

Total of 6 members of the board compromised by 3 married couples.

Form 990, Part VI, Section B, Line 11B

The board of trustees received the form 990 from the accountant prior to filing and it was reviewed by one of the trustees of the organization

Form 990, Part VI, Section C, Line 19

Per Section 14.1 of the New Jersey Department of Human Services, Division of Developmental Disabilities, Supports Program Policy and Procedures Manual, provider agencies that claim $100,000 or more in combined reimbursement for services within their fiscal year must have annual financial statement audits performed in accordance with Generally Accepted Auditing Standards (GAAS).

Filing and Contact Details

Filer

Filer Name
New Beginning for Special Needs Inc
EIN
81-2550940
Phone
2013284566
Address
535 Walnut Street, Norwood, NJ 07648

Signing Officer

Name
Haejoong Chang
Title
President
Signed
2024-10-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Haejoong Chang
Formed
2016
Legal Domicile
Nj
Voting Board Members
6
Independent Board Members
0
Employees
8
Volunteers
10

Preparer

Firm
Carper Associates LTD
Address
800 Westchester Ave Ste N641, Rye Brook, NY 10573
Preparer
Claudia A Pereira
Phone
9175997851
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0183555
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt0183555
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt046612
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt024647
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt074066
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt015247
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt022983
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0183555
IRS990ScheduleA/TotalSupportAmt0183555
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0415659
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0187654
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt115000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt23000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Operating, Lease right-of-use
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Security Deposit
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Vehicles downpayment
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0121788
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt165866
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt24389
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Long -Term Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Operating Lease payable within a year
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Payroll Liabilities
IRS990ScheduleD/RevenueSubtotalAmt0507983
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0205654
IRS990ScheduleD/TotalBookValueSecuritiesAmt020932
IRS990ScheduleD/TotalExpensesPerForm990Amt0415659
IRS990ScheduleD/TotalLiabilityAmt0192043
IRS990ScheduleD/TotalRevenuePerForm990Amt0507983
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0507983
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0415659
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Total of 6 members of the board compromised by 3 married couples.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The board of trustees received the form 990 from the accountant prior to filing and it was reviewed by one of the trustees of the organization
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Per Section 14.1 of the New Jersey Department of Human Services, Division of Developmental Disabilities, Supports Program Policy and Procedures Manual, provider agencies that claim $100,000 or more in combined reimbursement for services within their fiscal year must have annual financial statement audits performed in accordance with Generally Accepted Auditing Standards (GAAS).
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt068711
IRS990/TotalAssetsEOYAmt0345675
IRS990/TotalAssetsGrp/BOYAmt068711
IRS990/TotalAssetsGrp/EOYAmt0345675
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt057390
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt015439
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0400220
IRS990/TotalFunctionalExpensesGrp/TotalAmt0415659
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt011595
IRS990/TotalLiabilitiesEOYAmt0196235
IRS990/TotalLiabilitiesGrp/BOYAmt011595
IRS990/TotalLiabilitiesGrp/EOYAmt0196235
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt057116
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0149440
IRS990/TotalProgramServiceExpensesAmt0400220
IRS990/TotalProgramServiceRevenueAmt0450591
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0450593
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0507983
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt068711
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0345675
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0535 Walnut Street
IRS990/USAddress/CityNm0Norwood
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007648
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0https://www.newdayprogram.org/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Haejoong Chang
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0New Beginning for Special Needs Inc
ReturnHeader/Filer/BusinessNameControlTxt0NEWB
ReturnHeader/Filer/EIN0812550940
ReturnHeader/Filer/PhoneNum02013284566
ReturnHeader/Filer/USAddress/AddressLine1Txt0535 Walnut Street
ReturnHeader/Filer/USAddress/CityNm0Norwood
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007648
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0274607283
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Carper Associates LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0800 Westchester Ave Ste N641
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Rye Brook
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010573
ReturnHeader/PreparerPersonGrp/PhoneNum09175997851
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Claudia A Pereira
ReturnHeader/ReturnTs02024-10-18T12:35:31-07:00
ReturnHeader/ReturnTypeCd0990

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