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Nonprofiteer
← NEIGHBORHOOD DEVELOPMENT CORPORATION OF AKRON

Form 990 for tax year 2023

Filed by NEIGHBORHOOD DEVELOPMENT CORPORATION OF AKRON.

Totals

Total revenue
$4,547,148
Total expenses
$4,532,520
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,239,254
Investment income
$0
Other revenue
$1,307,894
Total assets, end of year
$20,584,170
Total liabilities, end of year
$18,412,764
Net assets or fund balances, end of year
$2,171,406
Program services expenses (Part IX)
$3,937,332
Management and general expenses
$595,188
Fundraising expenses
$0
Program service expenses (Part III)
$3,937,332

Program services were 86.9% 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.

  • 2a · Program service revenue: PROGRAM INCOME

    total $171,297 · related or exempt $171,297

  • 2b · Program service revenue: RENTAL INCOME

    total $2,341,234 · related or exempt $2,341,234

  • 2c · Program service revenue: DEVELOPMENT FEES

    total $726,723 · related or exempt $726,723

  • 10a · Gross sales of inventory

    $505,000

  • 10c · Net income from sales of inventory

    total $505,000 · related or exempt $505,000

  • 11a · Other revenue: OTHER INCOME

    total $802,894 · related or exempt $802,894

  • 11e · Other revenue, total

    $802,894

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $313,892 · program services $311,897 · management and general $1,995

  • 9 · Other employee benefits

    total $994 · program services $994

  • 10 · Payroll taxes

    total $22,859 · program services $22,859

  • 11a · Fees: management

    total $146,964 · program services $146,964

  • 11b · Fees: legal

    total $84,785 · program services $9,611 · management and general $75,174

  • 11c · Fees: accounting

    total $34,800 · program services $34,800

  • 11g · Fees: other

    total $339,197 · program services $304,422 · management and general $34,775

  • 12 · Advertising and promotion

    total $4,355 · program services $4,355

  • 13 · Office expenses

    total $92,943 · program services $66,875 · management and general $26,068

  • 16 · Occupancy

    total $722,769 · program services $693,358 · management and general $29,411

  • 17 · Travel

    total $18,290 · program services $18,170 · management and general $120

  • 19 · Conferences, conventions and meetings

    total $925 · program services $925

  • 20 · Interest

    total $295,844 · program services $295,844

  • 22 · Depreciation, depletion and amortization

    total $982,791 · program services $982,791

  • 23 · Insurance

    total $482,549 · program services $469,295 · management and general $13,254

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $455,295 · program services $449,571 · management and general $5,724

  • 24b · Other expenses: COLLECTIONS FEES & BAD DEBTS

    total $5,409 · program services $5,409

  • 24c · Other expenses: FOOD & REFRESHMENTS

    total $65,801 · program services $65,801

  • 24d · Other expenses: GOOD PARK INFRASTRUCTURE

    total $235,743 · management and general $235,743

  • 24e · All other expenses

    total $226,315 · program services $53,391 · management and general $172,924

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,679,521 · end of year $3,212,168

  • 4 · Accounts receivable

    beginning of year $246,321 · end of year $574,910

  • 8 · Inventories for sale or use

    beginning of year $13,857 · end of year $4,432

  • 9 · Prepaid expenses and deferred charges

    beginning of year $71,309 · end of year $111,435

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

    $26,477,933

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

    $18,197,494

  • 10c · Land, buildings and equipment, net

    beginning of year $8,204,524 · end of year $8,280,439

  • 13 · Investments: program-related

    beginning of year $604,244 · end of year $900,823

  • 15 · Other assets

    beginning of year $3,148,619 · end of year $7,499,963

  • 17 · Accounts payable and accrued expenses

    beginning of year $305,516 · end of year $661,332

  • 19 · Deferred revenue

    beginning of year $600,000 · end of year $600,000

  • 25 · Other liabilities

    beginning of year $12,829,049 · end of year $17,151,432

  • 27 · Net assets without donor restrictions

    beginning of year $2,233,830 · end of year $2,171,406

Mission and programs · 2023

Mission

THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE LOW AND MODERATE COST HOUSING AND TO DEMONSTRATE IN SUCH HOUSING AND CONSTRUCTION AND REHABILITATION INNOVATIVE TECHNIQUES MATERIALS AND BUILDING LAYOUT

  • HOUSING ASSISTANCE PROGRAMS PROVIDES HOUSING ASSISTANCE PAYMENTS TO ELIGIBLE LOW-INCOME INDIVIDUALS AND FAMILIES, MAKING IT POSSIBLE FOR THEM TO ACCESS SAFE AND AFFORDABLE HOUSING.

    Expenses $3,757,692

  • NUTRITION PROGRAM PROVIDES MEALS TO QUALIFIED TENANTS AT NO COST TO SUPPORT THEIR WELL-BEING AND ENHANCE THEIR QUALITY OF LIFE.

    Expenses $179,640

As filed on the 2023 return.

Listed in Part VII

  • Paul Stallings

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Samuel Dezhazior

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Thomas A Tatum

    VICE CHAIRMAN OF DEVELOPMENT

    Total calculated
    $0
    Hours/week
    1

  • Horace Highland

    CHAIRMAN OF BUSINESS & FINANC

    Total calculated
    $0
    Hours/week
    1

  • Roger Johnson

    VICE CHARIMAN OF MANAGEMENT

    Total calculated
    $0
    Hours/week
    1

  • Larry F Thomas

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • ALBERT BRAGG Jr

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    8

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
11 November 2024
IRS schema version
2023v5.1
Source object
202403199349306320

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