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Nonprofiteer
← NDC ENTREPRENEUR TRAINING CENTER

Form 990 for tax year 2024

Filed by NDC ENTREPRENEUR TRAINING CENTER.

Totals

Total revenue
$591,694
Total expenses
$1,308,604
Contributions and grants received
$135,000
Grants paid
$0
Program service revenue
$456,694
Investment income
$0
Other revenue
$0
Total assets, end of year
$9,942,076
Total liabilities, end of year
$8,755,782
Net assets or fund balances, end of year
$1,186,294
Program services expenses (Part IX)
$1,308,604
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,308,604

Program services were 100.0% 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.

  • 1f · All other contributions, gifts and grants

    $135,000

  • 2a · Program service revenue: RENTAL INCOME

    total $456,694 · related or exempt $456,694

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $132,196 · program services $132,196

  • 22 · Depreciation, depletion and amortization

    total $713,766 · program services $713,766

  • 24a · Other expenses: OPERATING EXPENSES

    total $406,034 · program services $406,034

  • 24b · Other expenses: PROPERTY TAX EXPENSE

    total $56,608 · program services $56,608

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $63,446

  • 2 · Savings and temporary cash investments

    beginning of year $138,537 · end of year $179,977

  • 4 · Accounts receivable

    beginning of year $101,940 · end of year $16,131

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,350 · end of year $3,618

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

    $11,439,706

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

    $1,734,733

  • 10c · Land, buildings and equipment, net

    beginning of year $10,301,832 · end of year $9,704,973

  • 15 · Other assets

    beginning of year $30,943 · end of year $37,377

  • 17 · Accounts payable and accrued expenses

    beginning of year $56,337 · end of year $70,314

  • 23 · Secured mortgages and notes payable

    beginning of year $8,680,507 · end of year $8,685,468

  • 27 · Net assets without donor restrictions

    beginning of year $1,903,204 · end of year $1,186,294

Mission and programs · 2024

Mission

ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF, TO SUPPORT THE FUNCTIONS OF, AND TO ASSIST IN CARRYING OUT THE PURPOSES OF THE NEIGHBORHOOD DEVELOPMENT CENTER BY PROVIDING FINANCIAL AND ADMINISTRATIVE SUPPORT, THROUGH OWNERSHIP, DEVELOPMENT AND OPERATION OF A TRAINING CENTER AND BUSINESS INCUBATOR TO BE USED BY THE CLIENTS OF NEIGHBORHOOD DEVELOPMENT CENTER.

  • WORKFORCE TRAINING CENTER - DURING 2020, A WORKFORCE TRAINING CENTER WAS CONSTRUCTED IN SAINT PAUL, MN WHICH IS NOW BEING USED BY NEIGHBORHOOD DEVELOPMENT CENTER'S CLIENTS TO PROVIDE INTEGRATED BUSINESS SERVICES FOR LOCAL ENTREPRENEURS IN LOW-INCOME NEIGHBORHOODS.

    Expenses $1,308,604 · Revenue $456,694

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MIHAILO TEMALI

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • BEN JOHNSON

    SECRETARY

    Total calculated
    $174,772
    From this org
    $0
    From related orgs
    $140,169
    Other
    $34,603
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $140,169 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $34,603 related
    Filer's total
    $0 + $174,772 related

  • RENAY DOSSMAN

    VICE PRESIDENT

    Total calculated
    $275,350
    From this org
    $0
    From related orgs
    $237,693
    Other
    $37,657
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $237,693 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $37,657 related
    Filer's total
    $0 + $275,350 related

  • TAMMIE NASSEFF

    TREASURER

    Total calculated
    $165,882
    From this org
    $0
    From related orgs
    $143,440
    Other
    $22,442
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $143,440 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $22,442 related
    Filer's total
    $0 + $165,882 related

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

None.

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

No itemized grants to organizations on this return.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
19 August 2025
IRS schema version
2024v5.2
Source object
202522339349301807

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