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Nonprofiteer
← NEIGHBORHOOD DEVELOPMENT CENTER INC

Form 990 for tax year 2025

Filed by NEIGHBORHOOD DEVELOPMENT CENTER INC.

Totals

Total revenue
$28,158,842
Total expenses
$20,405,631
Contributions and grants received
$25,652,272
Grants paid
$10,754,346
Program service revenue
$2,011,027
Investment income
$386,654
Other revenue
$108,889
Total assets, end of year
$55,325,210
Total liabilities, end of year
$27,128,093
Net assets or fund balances, end of year
$28,197,117
Program services expenses (Part IX)
$17,951,099
Management and general expenses
$1,704,228
Fundraising expenses
$750,304
Program service expenses (Part III)
$17,951,099

Program services were 88.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $24,700

  • 1e · Government grants (contributions)

    $15,356,144

  • 1f · All other contributions, gifts and grants

    $10,271,428

  • 2a · Program service revenue: CONTRACT INCOME

    total $787,746 · related or exempt $787,746

  • 2b · Program service revenue: LOAN AND NOTE INTEREST INCOME

    total $688,973 · related or exempt $688,973

  • 2c · Program service revenue: PROPERTY MGMT FEES

    total $329,851 · related or exempt $329,851

  • 2d · Program service revenue: OTHER INCOME

    total $88,058 · related or exempt $88,058

  • 2e · Program service revenue: LOAN ADMIN/ORIG FEES

    total $83,094 · related or exempt $83,094

  • 2f · All other program service revenue

    total $33,305 · related or exempt $33,305

  • 3 · Investment income

    total $386,654 · excluded $386,654

  • 6a · Gross rents

    real property $478,588

  • 6b · Less rental expenses

    real property $360,301

  • 6c · Rental income or loss

    real property $118,287

  • 6d · Net rental income or loss

    total $118,287 · related or exempt $118,287

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $24,700

  • 8b · Fundraising events: direct expenses

    $9,398

  • 8c · Net income from fundraising events

    total -$9,398 · excluded -$9,398

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,754,346 · program services $10,754,346

  • 5 · Compensation of officers, directors and key employees

    total $1,203,049 · program services $1,022,591 · management and general $120,305 · fundraising $60,153

  • 7 · Other salaries and wages

    total $3,858,386 · program services $2,646,592 · management and general $815,752 · fundraising $396,042

  • 9 · Other employee benefits

    total $475,055 · program services $239,973 · management and general $166,204 · fundraising $68,878

  • 10 · Payroll taxes

    total $316,240 · program services $201,977 · management and general $78,127 · fundraising $36,136

  • 11b · Fees: legal

    total $32,805 · management and general $32,805

  • 11c · Fees: accounting

    total $47,250 · management and general $47,250

  • 11g · Fees: other

    total $702,826 · program services $664,764 · fundraising $38,062

  • 13 · Office expenses

    total $605,992 · program services $441,044 · management and general $120,618 · fundraising $44,330

  • 16 · Occupancy

    total $832,943 · program services $602,958 · management and general $155,875 · fundraising $74,110

  • 17 · Travel

    total $47,963 · program services $8,801 · management and general $35,783 · fundraising $3,379

  • 19 · Conferences, conventions and meetings

    total $93,868 · program services $22,274 · management and general $63,628 · fundraising $7,966

  • 20 · Interest

    total $165,370 · program services $161,821 · management and general $3,549

  • 22 · Depreciation, depletion and amortization

    total $64,253 · program services $40,859 · management and general $15,856 · fundraising $7,538

  • 23 · Insurance

    total $70,670 · program services $44,941 · management and general $17,438 · fundraising $8,291

  • 24a · Other expenses: PROJECT EXPENSES

    total $758,682 · program services $738,916 · management and general $19,766

  • 24b · Other expenses: PROVISION FOR LOAN LOSS

    total $341,213 · program services $341,213 · management and general $0

  • 24c · Other expenses: MISCELLANEOUS

    total $16,443 · program services $7,104 · management and general $9,339

  • 24d · Other expenses: EQUIPMENT MAINTENANCE

    total $13,777 · program services $10,925 · management and general $1,933 · fundraising $919

  • 24e · All other expenses

    total $4,500 · fundraising $4,500

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,254,870 · end of year $1,966,087

  • 2 · Savings and temporary cash investments

    beginning of year $8,937,037 · end of year $16,043,579

  • 3 · Pledges and grants receivable

    beginning of year $594,800 · end of year $4,513,539

  • 4 · Accounts receivable

    beginning of year $1,462,335 · end of year $737,225

  • 5 · Loans and receivables from officers and key people

    beginning of year $240,412 · end of year $232,084

  • 7 · Other notes and loans receivable

    beginning of year $15,734,596 · end of year $17,704,480

  • 9 · Prepaid expenses and deferred charges

    beginning of year $86,715 · end of year $87,010

  • 10a · Land, buildings and equipment: cost or other basis

    $5,326,860

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,264,108

  • 10c · Land, buildings and equipment, net

    beginning of year $4,028,542 · end of year $4,062,752

  • 15 · Other assets

    beginning of year $9,884,832 · end of year $9,978,454

  • 17 · Accounts payable and accrued expenses

    beginning of year $756,132 · end of year $768,768

  • 19 · Deferred revenue

    beginning of year $35,223 · end of year $131,250

  • 23 · Secured mortgages and notes payable

    beginning of year $10,745,671 · end of year $15,646,964

  • 24 · Unsecured notes and loans payable

    beginning of year $293,293 · end of year $293,293

  • 25 · Other liabilities

    beginning of year $10,723,432 · end of year $10,287,818

  • 27 · Net assets without donor restrictions

    beginning of year $15,147,609 · end of year $17,419,850

  • 28 · Net assets with donor restrictions

    beginning of year $5,522,779 · end of year $10,777,267

Mission and programs · 2025

Mission

TO EMPOWER ENTREPRENEURS AND COMMUNITY PARTNERS TO TRANSFORM LOW-INCOME NEIGHBORHOOD ECONOMIES FROM WITHIN.

  • REAL ESTATE DEVELOPMENT INITIATIVE PROGRAM - ENCOURAGES NEIGHBORHOOD REVITALIZATION, PROPERTY OWNERSHIP, AND BUSINESS OWNERSHIP BY ENTREPRENEURS WITHIN SPECIFIC PRIORITY LOW-INCOME NEIGHBORHOODS. IN 2025, NDC MANAGED OVER 200,000 SQUARE FEET OF AFFORDABLE COMMERCIAL SPACE IN LOW-INCOME NEIGHBORHOODS, WHERE IT LEASED TO 65 TENANTS AND PROVIDED THEM WITH WRAP-AROUND BUSINESS SERVICES.

    Expenses $1,451,606 · Grants $679,746 · Revenue $536,196

  • LENDING AND FINANCING PROGRAM - PROVIDES FUNDS TO START-UP AND EXISTING BUSINESSES. IN 2025, NDC HAD A $11. MILLION DOLLAR REVOLVING LOAN FUND. LOANS WERE PROVIDED TO BUSINESSES THAT MET CERTAIN GEOGRAPHICAL AND INCOME CRITERIA. A PORTION OF AVAILABLE FUNDS ARE DEDICATED TO BE USED FOR PROFIT-BASED FINANCING TO ACCOMMODATE FAITH AND/OR CULTURAL VALUES OF BORROWERS. NDC APPROVED 49 LOANS IN 2025, TOTALING $4,391,070, IN PRIORITY AND OTHER NEIGHBORHOODS, AS FOLLOWS: 24 SMALL BUSINESS LOANS (LARGER THAN $50K) 25 MICROLOANS ($50K OR LESS)IN ADDITION, NDC APPROVED 9 CREDIT-BUILDER LOANS IN 2025, TOTALING $2,700.ALSO, THE LENDING DEPARTMENT ADMINISTERED TWO GRANT PROGRAMS IN 2025 THE NDC EMERGENCY GRANTS PROGRAM, WHERE 3 BUSINESSES RECEIVED GRANTS TOTALING $7,500. THE EQUITY GRANTS PROGRAM, WHERE 1 BUSINESS RECEIVED A GRANT TOTALING $7,500

    Expenses $14,833,773 · Grants $10,074,600 · Revenue $784,712

  • TECHNICAL ASSISTANCE PROGRAM - SUPPORTS THE GROWTH OF NEW AND EXISTING BUSINESSES IN THE COMMUNITY. IN 2025, NDC PROVIDED 3,205 HOURS OF BUSINESS SERVICES TO 377 BUSINESSES IN ITS PRIORITY AND OTHER NEIGHBORHOODS.

    Expenses $1,115,094 · Revenue $808,406

  • ENTREPRENEUR TRAINING PROGRAM - OFFERS WEEKLY SESSIONS WHICH TRAIN PARTICIPANTS TO OWN AND OPERATE THEIR OWN BUSINESSES. BY THE END OF THE TRAINING SESSION, PARTICIPANTS WILL HAVE DEVELOPED A BUSINESS PLAN AND HAVE HAD INDIVIDUAL SESSIONS WITH A PROFESSIONAL TRAINING CONSULTANT. NDC WORKS WITH NEIGHBORHOOD PARTNERS TO ENHANCE THEIR CAPACITY TO CREATE AND CONDUCT ECONOMIC DEVELOPMENT INITIATIVES WITHIN THEIR OWN COMMUNITIES. IN 2025, NDC AND ITS NEIGHBORHOOD PARTNERS OFFERED 12 ENTREPRENEUR TRAINING CLASSES TO 133 ENROLLED ASPIRING ENTREPRENEURS FROM VARIOUS ETHNIC GROUPS AND NEIGHBORHOODS. IN ADDITION, ASPIRING ENTREPRENEURS RECEIVED 364 HOURS OF ONE-ON-ONE TRAINING CONSULTATIONS. DURING THE SAME YEAR, NDC ALSO OFFERED 55 BUSINESS-RELATED WORKSHOPS TO 309 ENTREPRENEURS.

    Expenses $550,626

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Raazon King

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lachelle Cunningham

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Mike Goze

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Andrea Mardock

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Karen Gries

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Juliet Mitchell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • William Sands

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Erik Splett

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Anthony Robinson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Gebi Tufaa

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Justin Sterling

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jasmine Vasquez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Renay Dossman

    PRESIDENT AND CHIEF EXECUT

    Total calculated
    $280,214
    From this org
    $247,385
    From related orgs
    $0
    Other
    $32,829
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $247,385
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $32,829
    Filer's total
    $280,214

  • Perla Mayo

    SENIOR DIRECTOR OF LENDING

    Total calculated
    $137,986
    From this org
    $111,940
    From related orgs
    $0
    Other
    $26,046
    Hours/week
    40

  • Tammie Nasseff

    CHIEF FINANCIAL OFFICER

    Total calculated
    $197,490
    From this org
    $158,027
    From related orgs
    $0
    Other
    $39,463
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,027
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $39,463
    Filer's total
    $197,490

  • Ben Johnson

    VICE PRESIDENT, REAL ESTAT

    Total calculated
    $177,948
    From this org
    $153,889
    From related orgs
    $0
    Other
    $24,059
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,889
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $24,059
    Filer's total
    $177,948

  • Shahir Admed-Riddle

    VICE PRESIDENT, BUSINESS S

    Total calculated
    $150,391
    From this org
    $131,688
    From related orgs
    $0
    Other
    $18,703
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,688
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,703
    Filer's total
    $150,391

  • Marlyse Blihovde

    SENIOR DIRECTOR OF HUMAN SERVICES

    Total calculated
    $112,903
    From this org
    $101,817
    From related orgs
    $0
    Other
    $11,086
    Hours/week
    40

  • Elisa Pluhar

    CHIEF DEVELOPMENT & COMMUNICATIONS OFFICER

    Total calculated
    $146,127
    From this org
    $120,673
    From related orgs
    $0
    Other
    $25,454
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • FINNOVATION LAB

    $207,211

    BUSH GRANT PASS THRU GRANT

  • FRIENDS OF GLOBAL MARKET

    $108,000

    NDC

  • GRANADA THEATER LLC

    $50,000

    PROMISE ACT GRANT

  • NEIGHBORHOOD COMMERCIAL SPACES LLC

    $50,000

    NDC

  • ARBEITER BREWING COMPANY LLC

    $50,000

    PROMISE ACT GRANT

  • CORNERSTONE HOME HEALTH CAREINC

    $50,000

    PROMISE ACT GRANT

  • FRIENDLY GROCERY LLC

    $50,000

    PROMISE ACT GRANT

  • FIELDS OF JOY LLC

    $49,500

    PROMISE ACT GRANT

  • EPIPHANY FAMILY SERVICES

    $48,700

    PROMISE ACT GRANT

  • P3 SPECIALIZED PERFORMANCE

    $48,100

    PROMISE ACT GRANT

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FROGTOWN ENTREPRENEUR CENTER

    OPERATE COMMERCIAL RENTAL REAL ESTATE · MN · income $79,994 · assets $387,717

    Directly controlled by NEIGHBORHOOD DEVELOPMENT CENTER

  • NCS LLC

    OPERATE COMMERCIAL RENTAL REAL ESTATE · MN · income $6,171 · assets $3,287,889

    Directly controlled by NEIGHBORHOOD DEVELOPMENT CENTER

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • MERCADO CENTRAL

    OPERATE COMMERCIAL REAL ESTATE · MN

  • NEDU LLC

    OPERATE COMMERCIAL REAL ESTATE · MN

  • MARKET VIEW

    OPERATE COMMERCIAL REAL ESTATE · MN · general or managing partner

  • MIDTOWN GLOBAL MARKET LLC

    OPERATE COMMERCIAL REAL ESTATE · MN

Provenance

Return type
form_990
Tax year
2025
Filed
6 August 2026
IRS schema version
2025v4.2
Source object
202612299349300331

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