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Nonprofiteer
← VILLAGES COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by VILLAGES COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$387,298
Total expenses
$352,291
Contributions and grants received
$210,933
Grants paid
$0
Program service revenue
$176,066
Investment income
$199
Other revenue
$100
Total assets, end of year
$1,170,357
Total liabilities, end of year
$681,971
Net assets or fund balances, end of year
$488,386
Program services expenses (Part IX)
$134,940
Management and general expenses
$217,351
Fundraising expenses
$0
Program service expenses (Part III)
$134,940

Program services were 38.3% 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

    -$500

  • 1f · All other contributions, gifts and grants

    $211,433

  • 2a · Program service revenue: NSP3 Revenue

    total $135,508 · related or exempt $135,508

  • 2b · Program service revenue: NSP3 Rental Income

    total $40,558 · related or exempt $40,558

  • 3 · Investment income

    total $199 · related or exempt $199

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

    -$500

  • 11a · Other revenue: Miscellaneous

    total $100 · related or exempt $100

  • 11e · Other revenue, total

    $100

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $89,514 · management and general $89,514

  • 7 · Other salaries and wages

    total $60,000 · management and general $60,000

  • 9 · Other employee benefits

    total $20,322 · management and general $20,322

  • 10 · Payroll taxes

    total $11,862 · management and general $11,862

  • 22 · Depreciation, depletion and amortization

    total $52,602 · program services $52,602

  • 24a · Other expenses: PROFESSIONAL FEES

    total $17,291 · program services $17,291

  • 24b · Other expenses: OPERATIONS

    total $65,047 · program services $65,047

  • 24e · All other expenses

    total $35,653 · management and general $35,653

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $193,921 · end of year $151,910

  • 4 · Accounts receivable

    beginning of year $1,983

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

    $1,446,575

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

    $426,314

  • 10c · Land, buildings and equipment, net

    beginning of year $1,072,863 · end of year $1,020,261

  • 15 · Other assets

    end of year -$1,814

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,345 · end of year $4,436

  • 23 · Secured mortgages and notes payable

    beginning of year $813,043 · end of year $677,535

  • 27 · Net assets without donor restrictions

    beginning of year $453,379 · end of year $488,386

Mission and programs · 2023

Mission

THE VILLAGES CDC SUPPORTS AND ADVOCATES FOR THE DEVELOPMENT OF INCLUSIVE PLACES AND NEIGHBORHOODS WITHIN THE VILLAGES.

  • 1. Continued to provide four units of truly affordable housing, two bedroom units in West Village, all for less than $1,000 a month. 2.Partnered with the West Village Association to obtain a neighborhood beautification grant. 3.We finally realized the goal of getting more DTE investment in the neighborhood after years of organizing against unjust rate hikes and failing reliability. All of our neighborhoods are getting new gas mains, service lines and overhead lines and poles.4.Sections of East Village and certain households in the Villages have gotten lead service line replacements, which will lead to lower lead levels in the bloodstream of residents. 5.We have continued to connect and grow our communities. Our quarterly engagement sessions regularly draw about 30 residents, our newsletter has nearly 700 subscribers and the videos that we are shooting are helping spread the message about what the Villages does for our residents and neighborhoods. 6.Our signature program, Keep It In the Family, has been highlighted by Detroit Future City in their report, Keeping Your Family Home. The combination of estate planning and title searches is now recognized as a proven winner to be able to keep people in their homes, build wealth, reduce blight and help stabilize neighborhoods. To date, we have now assisted 28 homes.

    Expenses $134,940

As filed on the 2023 return.

Listed in Part VII

  • Michael Farr

    Executive Director

    Total calculated
    $89,514
    From this org
    $89,514
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Alexis Mann

    Program Manager

    Total calculated
    $60,000
    From this org
    $60,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Christianne Sims

    President

    Total calculated
    $0
    Hours/week
    2

  • Ashley Davidson

    Director

    Total calculated
    $0
    Hours/week
    2

  • David Preuss

    Director

    Total calculated
    $0
    Hours/week
    2

  • Ederique Goudia

    Director

    Total calculated
    $0
    Hours/week
    2

  • Tonya Woods-Brown

    Director

    Total calculated
    $0
    Hours/week
    2

  • Martha Coates

    Director

    Total calculated
    $0
    Hours/week
    2

  • Damon Dickerson

    Director

    Total calculated
    $0
    Hours/week
    2

  • Rob Gregory

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Candice Bowman

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Edythe Ford

    Vice President

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
7 April 2024
IRS schema version
2023v5.1
Source object
202431909349301013

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