Totals
- Total revenue
- $2,058,190
- Total expenses
- $770,934
- Contributions and grants received
- $1,791,196
- Grants paid
- $0
- Program service revenue
- $127,629
- Investment income
- -$6,300
- Other revenue
- $145,665
- Total assets, end of year
- $18,499,321
- Total liabilities, end of year
- $3,389,515
- Net assets or fund balances, end of year
- $15,109,806
- Program services expenses (Part IX)
- $736,862
- Management and general expenses
- $34,072
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $736,862
Program services were 95.6% 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.
-
1e · Government grants (contributions)
$1,222,577
-
1f · All other contributions, gifts and grants
$568,619
-
2a · Program service revenue: SPECIAL PROJECTS
total $127,629 · related or exempt $127,629
-
6a · Gross rents
real property $306,430
-
6b · Less rental expenses
real property $167,742
-
6c · Rental income or loss
real property $138,688
-
6d · Net rental income or loss
total $138,688 · excluded $138,688
-
7a · Gross sales of assets other than inventory
other assets $108,909
-
7b · Less cost or other basis and sales expenses
other assets $115,209
-
7c · Gain or loss
other assets -$6,300
-
7d · Net gain or loss
total -$6,300 · excluded -$6,300
-
11a · Other revenue: MISCELLANEOUS
total $6,977 · related or exempt $6,977
-
11e · Other revenue, total
$6,977
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $242,956 · program services $242,956
-
7 · Other salaries and wages
total $93,317 · program services $93,317
-
10 · Payroll taxes
total $20,625 · program services $20,625
-
11b · Fees: legal
total $17,607 · program services $11,697 · management and general $5,910
-
11c · Fees: accounting
total $24,762 · management and general $24,762
-
11g · Fees: other
total $51,175 · program services $51,175
-
13 · Office expenses
total $17,632 · program services $17,632
-
20 · Interest
total $3,322 · program services $3,322
-
22 · Depreciation, depletion and amortization
total $44,052 · program services $44,052
-
23 · Insurance
total $6,607 · program services $6,607
-
24a · Other expenses: SPECIAL PROJECTS
total $230,758 · program services $230,758
-
24b · Other expenses: MISCELLANEOUS
total $14,721 · program services $14,721
-
24c · Other expenses: DUES
total $3,400 · management and general $3,400
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $285,069 · end of year $144,447
-
3 · Pledges and grants receivable
beginning of year $6,302,060 · end of year $4,612,160
-
4 · Accounts receivable
end of year $71,890
-
10a · Land, buildings and equipment: cost or other basis
$2,450,997
-
10b · Land, buildings and equipment: accumulated depreciation
$295,756
-
10c · Land, buildings and equipment, net
beginning of year $2,307,161 · end of year $2,155,241
-
13 · Investments: program-related
beginning of year $5,592,024 · end of year $11,515,485
-
15 · Other assets
beginning of year $98 · end of year $98
-
17 · Accounts payable and accrued expenses
beginning of year $36,227 · end of year $80,419
-
23 · Secured mortgages and notes payable
beginning of year $599,858 · end of year $3,281,229
-
25 · Other liabilities
beginning of year $27,777 · end of year $27,867
-
27 · Net assets without donor restrictions
beginning of year $7,458,557 · end of year $10,401,369
-
28 · Net assets with donor restrictions
beginning of year $6,363,993 · end of year $4,708,437
Mission and programs · 2024
Mission
TO LESSEN THE BURDENS OF CITY GOVERNMENT AND TO ALLEVIATE POVERTY IN THE LOCAL AREA BY INCENTIVIZING INVESTMENTS IN THE CITY OF NEWARK, OHIO, IN ORDER TO PROMOTE AND SUSTAIN ECONOMIC DEVELOPMENT, CREATE JOBS AND FURTHER IMPROVE THE BUSINESS, INDUSTRIAL AND RESIDENTIAL LIVING AREAS OF THE CITY.
-
ENCOURAGE ECONOMIC DEVELOPMENT IN THE CITY OF NEWARK.
Expenses $736,862 · Revenue $134,606
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Daniel DelawderDANIEL DELAWDER
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 10
-
Brian MoreheadBRIAN MOREHEAD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David RhodesDAVID RHODES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Noble SnowNOBLE SNOW
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Mary AlbrightMARY ALBRIGHT
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
Steve LaymanSTEVE LAYMAN
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Jennifer McCdonaldJENNIFER MCCDONALD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Veronica PattonVERONICA PATTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John UibleJOHN UIBLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brandon FoxBRANDON FOX
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Fred ErnestFRED ERNEST
EXECUTIVE DIRECTOR
- Total calculated
- $199,562
- From this org
- $193,749
- From related orgs
- $0
- Other
- $5,813
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $193,749
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $5,813
- Filer's total
- $199,562
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 · Approval by the board or compensation committee
- 7 · Other non-fixed payments
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
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED BY ORGANIZATION'S EXECUTIVE COMMITTEE BASED UPON PERFORMANCE AND EVALUATIONS.
- PART I, LINE 7
- THE EXECUTIVE DIRECTOR RECEIVED A DISCRETIONARY BONUS BASED UPON HIS OUTSTANDING PERFORMANCE.
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.
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.
-
INVESTMENT HOLDINGS · OH · income $0 · assets $0
Directly controlled by NEWARK DEVELOPMENT PARTNERS
-
COMMERCIAL RENTALS · OH · income $248,690 · assets $928,170
Directly controlled by NEWARK DEVELOPMENT PARTNERS
-
COMMERCIAL RENTALS · OH · income $0 · assets $12,236,239
Directly controlled by NEWARK DEVELOPMENT PARTNERS
-
REAL ESTATE HOLDINGS · OH · income $0 · assets $41,500
Directly controlled by NEWARK DEVELOPMENT PARTNERS
-
REAL ESTATE HOLDINGS · OH · income $0 · assets $85,499
Directly controlled by NEWARK DEVELOPMENT PARTNERS
-
INVESTMENT HOLDINGS · OH · income $0 · assets $0
Directly controlled by NEWARK DEVELOPMENT PARTNERS
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 16 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533219349308803
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