Civic Intelligence

New Life Economic Development Inc

EIN 95-4443057 • 501(c)3 • Los Angeles, CA

Profile

Provide affordable housing, economic development and related services to low and moderate income communities.

4859 West Slauson Avenue 384Los Angeles, CA 90056

newlifeedc.org

Siviq Scores

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

Liabilities / Assets

80th percentile

0.43x

Higher debt load relative to assets than 80% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

89th percentile

1.04x

Higher debt load relative to revenue than 89% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

23rd percentile

-9.0%

Higher net margin than 23% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

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 2024

Asset Growth

28th percentile

-3.3%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

22nd percentile

-11%

Faster revenue growth than 22% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$1,165,744

Down $39,250 (-3.3%) from 2023

Liabilities

Up

$499,759

Up $4,159 (+0.8%) from 2023

Net Assets

Down

$665,985

Down $43,409 (-6.1%) from 2023

Revenue

Down

$479,771

Down $57,986 (-11%) from 2023

Expenses

Up

$523,180

Up $6,871 (+1.3%) from 2023

Net Income

Down

-$43,409

Down $64,857 (-302%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2012: $1,295,508Liabilities 2012: $0Net Assets 2012: $1,295,5082012Assets 2013: $1,224,180Liabilities 2013: $0Net Assets 2013: $1,224,1802013Assets 2014: $1,086,770Liabilities 2014: $0Net Assets 2014: $1,086,7702014Assets 2016: $1,084,581Liabilities 2016: $0Net Assets 2016: $1,084,5812016Assets 2017: $1,084,333Liabilities 2017: $0Net Assets 2017: $1,084,3332017Assets 2018: $1,082,975Liabilities 2018: $0Net Assets 2018: $1,082,9752018Assets 2019: $1,132,650Liabilities 2019: $144,495Net Assets 2019: $988,1552019Assets 2020: $1,196,097Liabilities 2020: $348,034Net Assets 2020: $848,0632020Assets 2021: $1,260,279Liabilities 2021: $526,956Net Assets 2021: $733,3232021Assets 2022: $1,161,821Liabilities 2022: $517,046Net Assets 2022: $644,7752022Assets 2023: $1,204,994Liabilities 2023: $495,600Net Assets 2023: $709,3942023Assets 2024: $1,165,744Liabilities 2024: $499,759Net Assets 2024: $665,9852024

Highlighted filing

2024

Assets$1,165,744
Liabilities$499,759
Net Assets$665,985

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $2,955,1602012Revenue 2013: $785,465Expenses 2013: $856,744Net Income 2013: -$71,2792013Revenue 2014: $384,010Expenses 2014: $595,473Net Income 2014: -$211,4632014Revenue 2016: $233,602Expenses 2016: $231,860Net Income 2016: $1,7422016Revenue 2017: $312,729Expenses 2017: $311,087Net Income 2017: $1,6422017Revenue 2018: $447,450Expenses 2018: $457,688Net Income 2018: -$10,2382018Revenue 2019: $319,780Expenses 2019: $335,809Net Income 2019: -$16,0292019Revenue 2020: $434,154Expenses 2020: $537,647Net Income 2020: -$103,4932020Revenue 2021: $489,862Expenses 2021: $604,602Net Income 2021: -$114,7402021Revenue 2022: $533,243Expenses 2022: $621,791Net Income 2022: -$88,5482022Revenue 2023: $537,757Expenses 2023: $516,309Net Income 2023: $21,4482023Revenue 2024: $479,771Expenses 2024: $523,180Net Income 2024: -$43,4092024

Highlighted filing

2024

Revenue$479,771
Expenses$523,180
Net Income-$43,409

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$479,771
Mission and Program Overview

Mission

Provide affordable housing, economic development and related services to low and moderate income communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$1,161,435$1,160,773▼ $662
Cash and Non-Interest-Bearing Accounts$42,054$4,326▼ $37,728
Land, Buildings, and Equipment, Net$1,505$645▼ $860
Total Assets$1,204,994$1,165,744▼ $39,250
Liabilities
Unsecured Notes Loans Payable$471,530$471,530→ $0
Accounts Payable and Accrued Expenses$24,070$28,229▲ $4,159
Total Liabilities$495,600$499,759▲ $4,159
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$709,394$665,985▼ $43,409
Total Net Assets Fund Balance$709,394$665,985▼ $43,409
Total Liabilities and Net Assets / Fund Balance$1,204,994$1,165,744▼ $39,250

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$645$3,655$4,300
Investment Program Related Org$2,606--
Compensation and Service Providers

Board Members and Trustees

NameTitle
John W HeathBoard President
David MaczBoard Member
Ferris TrimbleBoard Member
Cassandra IversonSecretary
Quentin StrodeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$480,433
Investment Income
$0
Other Revenue
$-662
Change in Net Assets
$-43,409
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$329,537
Other Expenses$193,643
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$266,202--$266,202
Fees for Services Other$63,294--$63,294
Insurance$39,599--$39,599
Other Employee Benefits$33,791--$33,791
Interest$26,704--$26,704
Payroll Taxes$22,955--$22,955
Occupancy$12,861--$12,861
Information Technology-$12,259-$12,259
Advertising$9,856--$9,856
Fees for Services Accounting-$9,200-$9,200
Pension Plan Contributions$6,589--$6,589
Office Expenses-$4,009-$4,009
Fees for Services Legal-$2,000-$2,000
Conferences and Meetings-$1,336-$1,336
Other Expenses$3,897$884-$884
Depreciation Depletion$860--$860
All Other Expenses-$758-$758
Total Functional Expenses$486,608$36,572$0$523,180
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

A thorough review of form 990 is done by the executive director and senior accountant to make sure that all information is accurate and input and comments from the board of directors is requested before the return is approved and filed.

Form 990, Part VI, Section B, Line 12C

In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees. The governing board holds delegated powers and considers the proposed transaction or arrangement.

Form 990, Part VI, Section C, Line 19

All corporate information is on file at the office; members of the public as well as board members have the right to inspect documents during normal business hours.

Filing and Contact Details

Filer

Filer Name
New Life Economic Development Inc
EIN
95-4443057
Phone
3237785433
Address
4859 WEST SLAUSON AVENUE 384, LOS ANGELES, CA 90056

Signing Officer

Name
John W Heath
Title
Board President
Phone
3237785433
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John W Heath
Formed
1993
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
4
Employees
7
Volunteers
4

Preparer

Firm
Gyl Llp
Address
4120 CONCOURS SUITE 100, ONTARIO, CA 91764
Preparer
Joseph Romero CPA
Phone
9099489990
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Consulting: program service expenses 63,294. Management and general expenses 0. Fundraising expenses 0. Total expenses 63,294.

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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd5C
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0645
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03655
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt04300
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0645
IRS990ScheduleD/TotalBookValueProgramRltdAmt01160773
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A THOROUGH REVIEW OF FORM 990 IS DONE BY THE EXECUTIVE DIRECTOR AND SENIOR ACCOUNTANT TO MAKE SURE THAT ALL INFORMATION IS ACCURATE AND INPUT AND COMMENTS FROM THE BOARD OF DIRECTORS IS REQUESTED BEFORE THE RETURN IS APPROVED AND FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES. THE GOVERNING BOARD HOLDS DELEGATED POWERS AND CONSIDERS THE PROPOSED TRANSACTION OR ARRANGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL CORPORATE INFORMATION IS ON FILE AT THE OFFICE; MEMBERS OF THE PUBLIC AS WELL AS BOARD MEMBERS HAVE THE RIGHT TO INSPECT DOCUMENTS DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSULTING: PROGRAM SERVICE EXPENSES 63,294. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 63,294.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0954517822
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd01
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct00.75000
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PredominantIncomeTypeTxt0RELATED
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0RESIDENTIAL PROPERTY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0NLEDC LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt04859 W SLAUSON 384
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0LOS ANGELES
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd090056
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01204994
IRS990/TotalAssetsEOYAmt01165744
IRS990/TotalAssetsGrp/BOYAmt01204994
IRS990/TotalAssetsGrp/EOYAmt01165744
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt036572
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0486608
IRS990/TotalFunctionalExpensesGrp/TotalAmt0523180
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0495600
IRS990/TotalLiabilitiesEOYAmt0499759
IRS990/TotalLiabilitiesGrp/BOYAmt0495600
IRS990/TotalLiabilitiesGrp/EOYAmt0499759
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0709394
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0665985
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0486608
IRS990/TotalProgramServiceRevenueAmt0480433
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0479771
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0479771
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01204994
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01165744
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0471530
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0471530
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04859 WEST SLAUSON AVENUE 384
IRS990/USAddress/CityNm0LOS ANGELES
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090056
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0NEWLIFEEDC.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN W HEATH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03237785433
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NEW LIFE ECONOMIC DEVELOPMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0NEWL
ReturnHeader/Filer/EIN0954443057
ReturnHeader/Filer/PhoneNum03237785433
ReturnHeader/Filer/USAddress/AddressLine1Txt04859 WEST SLAUSON AVENUE 384
ReturnHeader/Filer/USAddress/CityNm0LOS ANGELES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd090056
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0330482495
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GYL LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04120 CONCOURS SUITE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ONTARIO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd091764
ReturnHeader/PreparerPersonGrp/PhoneNum09099489990
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH ROMERO CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-11-17T16:36:51-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01

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