Yes, the most chances of finding information would be through Ellis Island. Your surname is a Serbian surname from Dalmatia, Croatia. THe family originally comes from Vrlika, Polača and Civljane gornje. Also known as the Knin area.

Thank you so much! How does "Novoselac" translate? Is there any certain meaning or significance behind the name?

Literally:

Novo => New
Selac(Selo) => Village

Something like new villager, but it doesnt make too much sense if you dont change the syntax in English. As for the story behind the name, you would have to do research and see who adopted the name and what the situation was at that time as in relation to assuming a surname in th 18th century.

It seems to me that there is no doubt that Novoselac clearly states "the man originating from Novo Selo". I can almost remember that there was/is a place named Novo Selo that actually was/is not so "new". I mean, the place is old enough to enter someone'e family name.

There are other examples of family names derived from family's first place of origin: Duvnjak (man from Duvno), Livnjak (man from Livno), Očaušanin (man from Očauš), Cerovac (man from Cerovica) etc.

P.S.
If I really remember where Novo Selo was, I will post again.

Uf, Novo Selo is a village name used frequently all over SE Europe. Even in Bulgaria. In this case its near Knin --> a nice list: http://en.wikipedia.org/wiki/Novo_Selo

http://www.feefhs.org/cro/crotowns.html
Has some more info about it.