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Nonprofiteer
← NEIGHBORHOOD DEVELOPMENT CORP

Form 990 for tax year 2025

Filed by NEIGHBORHOOD DEVELOPMENT CORP.

Totals

Total revenue
$1,361,093
Total expenses
$757,796
Contributions and grants received
$1,000,000
Grants paid
$0
Program service revenue
$368,375
Investment income
$18,663
Other revenue
-$25,945
Total assets, end of year
$7,354,780
Total liabilities, end of year
$2,021,026
Net assets or fund balances, end of year
$5,333,754
Program services expenses (Part IX)
$531,255
Management and general expenses
$226,541
Fundraising expenses
$0
Program service expenses (Part III)
$531,255

Program services were 70.1% 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)

    $1,000,000

  • 2a · Program service revenue: DEVELOPMENT AND CONSUL

    total $368,375 · related or exempt $368,375

  • 3 · Investment income

    total $18,663 · excluded $18,663

  • 6a · Gross rents

    real property $237,839

  • 6b · Less rental expenses

    real property $315,152

  • 6c · Rental income or loss

    real property -$77,313

  • 6d · Net rental income or loss

    total -$77,313 · related or exempt -$77,313

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $51,368 · related or exempt $51,368

  • 11e · Other revenue, total

    $51,368

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $160,145 · program services $96,088 · management and general $64,057

  • 7 · Other salaries and wages

    total $86,129 · program services $51,677 · management and general $34,452

  • 8 · Pension plan contributions

    total $2,749 · program services $1,649 · management and general $1,100

  • 9 · Other employee benefits

    total $12,186 · program services $7,312 · management and general $4,874

  • 10 · Payroll taxes

    total $18,371 · program services $11,023 · management and general $7,348

  • 11c · Fees: accounting

    total $49,175 · management and general $49,175

  • 11g · Fees: other

    total $129,530 · program services $129,530

  • 12 · Advertising and promotion

    total $2,929 · management and general $2,929

  • 13 · Office expenses

    total $23,964 · program services $536 · management and general $23,428

  • 22 · Depreciation, depletion and amortization

    total $535 · program services $535

  • 23 · Insurance

    total $32,433 · program services $4,604 · management and general $27,829

  • 24a · Other expenses: GAP FINANCING ON DEVELO

    total $201,400 · program services $201,400

  • 24b · Other expenses: CREDIT LOSSES

    total $24,301 · program services $24,301

  • 24c · Other expenses: OTHER

    total $11,784 · program services $435 · management and general $11,349

  • 24d · Other expenses: FINDER'S FEE

    total $1,100 · program services $1,100

  • 24e · All other expenses

    total $1,065 · program services $1,065

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,401,009 · end of year $1,111,930

  • 2 · Savings and temporary cash investments

    beginning of year $263,244 · end of year $531,908

  • 4 · Accounts receivable

    beginning of year $215,406 · end of year $825

  • 7 · Other notes and loans receivable

    beginning of year $266,000 · end of year $255,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,131 · end of year $56,317

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

    $1,948,657

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

    $366,899

  • 10c · Land, buildings and equipment, net

    beginning of year $2,072,179 · end of year $1,581,758

  • 12 · Investments: other securities

    beginning of year $600,000 · end of year $1,410,000

  • 14 · Intangible assets

    beginning of year $4,038 · end of year $3,188

  • 15 · Other assets

    beginning of year $2,329,050 · end of year $2,403,854

  • 17 · Accounts payable and accrued expenses

    beginning of year $176,824 · end of year $130,776

  • 23 · Secured mortgages and notes payable

    beginning of year $2,248,761 · end of year $1,877,915

  • 25 · Other liabilities

    beginning of year $16,015 · end of year $12,335

  • 27 · Net assets without donor restrictions

    beginning of year $1,911,148 · end of year $2,922,971

  • 28 · Net assets with donor restrictions

    beginning of year $2,819,309 · end of year $2,410,783

Mission and programs · 2025

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.

    Expenses $531,255 · Revenue $342,430

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mel Pins

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Bret Vandelune

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Carl Voss

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Aaron Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Whitney Baethke

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ryan Mortier

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jed Gammell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Ludwig

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bill Gray

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sadie Trytten

    EXECUTIVE DIRECTOR

    Total calculated
    $160,145
    From this org
    $147,128
    From related orgs
    $0
    Other
    $13,017
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,636
    Bonus
    $32,492
    Other
    $0
    Deferred
    $4,446
    Nontaxable benefits
    $8,571
    Filer's total
    $160,145

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.

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.

  • COLD STORAGE REHAB LLC

    REAL ESTATE DEVELOPMENT · IA · income $0 · assets $1,977,024

    Directly controlled by NEIGHBORHOOD DEVELOPMENT CORPORATION

  • FW REHAB LLC

    REAL ESTATE DEVELOPMENT · IA · income $67,458

    Directly controlled by NEIGHBORHOOD DEVELOPMENT CORPORATION

  • HULL AVENUE REVITALIZATION LLC

    REAL ESTATE DEVELOPMENT · IA · income $0 · assets $263,000

    Directly controlled by NEIGHBORHOOD DEVELOPMENT CORPORATION

  • SW 9TH LLC

    REAL ESTATE DEVELOPMENT · IA · income $182,640 · assets $455,946

    Directly controlled by NEIGHBORHOOD DEVELOPMENT CORPORATION

  • VARSITY CINEMA LLC (TIC INTEREST)

    REAL ESTATE DEVELOPMENT · IA · assets $2,185,492

    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 · 46.7% owned · share of assets $51,227

  • UA STATION LLC

    RELATED · REAL ESTATE DEVELOPMENT · IA · 47% owned

Provenance

Return type
form_990
Tax year
2025
Filed
23 June 2026
IRS schema version
2025v4.2
Source object
202601749349301035

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