Totals
- Total revenue
- $5,325,092
- Total expenses
- $2,689,025
- Contributions and grants received
- $5,406,041
- Grants paid
- $0
- Program service revenue
- $16,740
- Investment income
- $1,103
- Other revenue
- -$98,792
- Total assets, end of year
- $10,862,183
- Total liabilities, end of year
- $5,476,701
- Net assets or fund balances, end of year
- $5,385,482
- Program services expenses (Part IX)
- $2,421,524
- Management and general expenses
- $267,501
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,421,524
Program services were 90.1% 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)
$5,406,041
-
2a · Program service revenue: DEVELOPMENT FEE INCOME
total $16,740 · related or exempt $16,740
-
3 · Investment income
total $1,103 · related or exempt $1,103
-
6a · Gross rents
real property $394,205
-
6b · Less rental expenses
real property $492,997
-
6c · Rental income or loss
real property -$98,792
-
6d · Net rental income or loss
total -$98,792 · related or exempt -$98,792
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $290,248 · program services $144,473 · management and general $145,775
-
7 · Other salaries and wages
total $74,189 · program services $74,189
-
8 · Pension plan contributions
total $9,817 · program services $5,890 · management and general $3,927
-
9 · Other employee benefits
total $3,900 · program services $2,340 · management and general $1,560
-
10 · Payroll taxes
total $26,502 · program services $15,901 · management and general $10,601
-
11b · Fees: legal
total $4,140 · management and general $4,140
-
11c · Fees: accounting
total $41,860 · program services $4,600 · management and general $37,260
-
12 · Advertising and promotion
total $4,489 · management and general $4,489
-
13 · Office expenses
total $31,708 · program services $9,973 · management and general $21,735
-
20 · Interest
total $146,704 · program services $146,704
-
22 · Depreciation, depletion and amortization
total $12,061 · program services $11,588 · management and general $473
-
23 · Insurance
total $51,498 · program services $22,704 · management and general $28,794
-
24a · Other expenses: GAP FINANCING
total $1,849,446 · program services $1,849,446
-
24b · Other expenses: PROPERTY TAXES
total $91,393 · program services $91,393
-
24c · Other expenses: LOSS ON INVESTMENT DISP
total $37,000 · program services $37,000
-
24d · Other expenses: OTHER
total $9,774 · program services $3,427 · management and general $6,347
-
24e · All other expenses
total $4,296 · program services $1,896 · management and general $2,400
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,421,027 · end of year $1,573,810
-
2 · Savings and temporary cash investments
end of year $251,102
-
4 · Accounts receivable
beginning of year $15,101 · end of year $489,518
-
10a · Land, buildings and equipment: cost or other basis
$3,333,292
-
10b · Land, buildings and equipment: accumulated depreciation
$584,732
-
10c · Land, buildings and equipment, net
beginning of year $3,855,894 · end of year $2,748,560
-
12 · Investments: other securities
beginning of year $74,000
-
14 · Intangible assets
end of year $4,540
-
15 · Other assets
beginning of year $2,968,727 · end of year $5,794,653
-
17 · Accounts payable and accrued expenses
beginning of year $183,048 · end of year $864,725
-
23 · Secured mortgages and notes payable
beginning of year $5,741,435 · end of year $4,594,373
-
25 · Other liabilities
beginning of year $30,851 · end of year $17,603
-
27 · Net assets without donor restrictions
beginning of year $716,648 · end of year $732,525
-
28 · Net assets with donor restrictions
beginning of year $1,662,767 · end of year $4,652,957
Mission and programs · 2023
Mission
TO ENHANCE NEIGHBORHOODS AND COMBAT COMMUNITY DETERIORATION THROUGH REDEVELOPMENT EFFORTS SPECIFICALLY DESIGNED TO CREATE HOUSING, SMALL BUSINESS, AND JOB CREATION OPPORTUNITIES FOR RESIDENTS OF POLK COUNTY, IOWA.
Activities or mission (Part I)
NDC WILL SUSTAINABLY ENHANCE NEIGHBORHOODS BY SERVING AS A CATALYST FOR REDEVELOPMENT EFFORTS THAT FOCUS ON CREATING A MIX OF HOUSING AND COMMERCIAL DEVELOPMENT THROUGH COMMUNITY COLLABORATION.
-
NDC SUSTAINABLY ENHANCES NEIGHBORHOODS BY SERVING AS A CATALYST FOR REDEVELOPMENT EFFORTS THAT FOCUS ON CREATING A MIX OF HOUSING AND COMMERCIAL DEVELOPMENT THROUGH COMMUNITY COLLABORATION.NEIGHBORHOOD DEVELOPMENT CORPORATION FOCUSES ON THREE ESSENTIAL CORE VALUES WHEN DECIDING ON THE DIRECTION WE WILL TAKE MOVING FORWARD WITH ANY PROJECT: COLLABORATION, REVITALIZATION AND CATALYZATION. IT IS IMPERATIVE WE FOLLOW THESE CORE VALUES BECAUSE WITHOUT THEM WE CANNOT FULFILL OUR TRUE POTENTIAL AS AN ORGANIZATION AND ACHIEVE WHAT WE CALL, THE NDC EFFECT. DEVELOPING PROPERTY WITH OUR METHODOLOGY IGNITES THE PROSPERITY AND VALUE COMMUNITIES NEED TO GROW INTO THE FUTURE.WE LEVERAGE OUR EXPERIENCE, PROFESSIONALISM AND KEY PARTNERSHIPS WITH GOVERNMENT, GENERAL CONTRACTORS AND CITY PLANNERS IN THE INDUSTRY TO PROVIDE INNOVATIVE SOLUTIONS TO UNDERSERVED COMMUNITIES.IN 2023, THE ORGANIZATION INVESTED $2.5 MILLION DOLLARS THAT WILL RESULT IN $46 MILLION WORTH OF COMMERCIAL REDEVELOPMENT IN DES MOINES NEIGHBORHOODS. THIS WILL PROVIDE UNDERSERVED AREAS WITH ATTAINABLE HOUSING AND COMMERCIAL SERVICES THAT DO NOT EXIST TODAY.
Expenses $2,421,524 · Revenue -$80,949
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Jake LundgrenJAKE LUNDGREN
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Holly OlsonHOLLY OLSON
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Bret VandeluneBRET VANDELUNE
PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Whitney BaethkeWHITNEY BAETHKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bill GrayBILL GRAY
COMMUNITY LEADER
- Total calculated
- $0
- Hours/week
- 1
-
Mel PinsMEL PINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Anna SquireANNA SQUIRE
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Mike LudwigMIKE LUDWIG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Carl VossCARL VOSS
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Stephanie MurphySTEPHANIE MURPHY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Abbey GilroyABBEY GILROY
EXECUTIVE DIRECTOR
- Total calculated
- $160,849
- From this org
- $160,849
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $140,100
- Bonus
- $20,749
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $160,849
-
Sadie TryttenSADIE TRYTTEN
DIRECTOR OF REAL ESTATE
- Total calculated
- $129,399
- From this org
- $129,399
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $98,605
- Bonus
- $30,794
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $129,399
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 · Approval by the board or compensation committee
- 5a · Pay contingent on this organization's revenues
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 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
The filer's explanations (Part III)
- PART I, LINE 3
- SALARIES ARE APROVED BY BOARD
- PART I, LINE 5
- TRANSACTION EARNINGS ARE EARNED BASED ON PROJECT REVENUE, CONTINGENT ON BOARD APPROVAL
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.
-
REAL ESTATE REDEVELOPMENT · IA · income $474,584 · assets $1,646,957
Directly controlled by NEIGHBORHOOD DEVELOPMENT CORPORATION
-
FRANKLIN REHAB LLC
REAL ESTATE REDEVELOPMENT · IA · income $3,429,105 · assets $1,288,032
Directly controlled by NEIGHBORHOOD DEVELOPMENT CORPORATION
-
REAL ESTATE REDEVELOPMENT · IA · income $47,628 · assets $224,650
Directly controlled by NEIGHBORHOOD DEVELOPMENT CORPORATION
-
HULL AVENUE REVITALIZATION LLC
REAL ESTATE REDEVELOPMENT · IA · income -$1,074 · assets $242,308
Directly controlled by NEIGHBORHOOD DEVELOPMENT CORPORATION
-
REAL ESTATE REDEVELOPMENT · IA · income -$109,042 · assets $1,103,840
Directly controlled by NEIGHBORHOOD DEVELOPMENT CORPORATION
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
PARK INDY LLC
RELATED · REAL ESTATE DEVELOPMENT · IA · 62% owned · share of income -$11,069 · share of assets $1,150,555
Directly controlled by NEIGHBORHOOD DEVELOPMENT CORPORATION
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 26 August 2024
- IRS schema version
- 2023v5.1
- Source object
- 202402579349302155
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.