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Nonprofiteer
← NDC ENTREPRENEUR TRAINING CENTER

Form 990 for tax year 2023

Filed by NDC ENTREPRENEUR TRAINING CENTER.

Totals

Total revenue
$1,144,558
Total expenses
$1,089,895
Contributions and grants received
$625,849
Grants paid
$0
Program service revenue
$518,709
Investment income
$0
Other revenue
$0
Total assets, end of year
$10,640,048
Total liabilities, end of year
$8,736,844
Net assets or fund balances, end of year
$1,903,204
Program services expenses (Part IX)
$1,089,895
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,089,895

Program services were 100.0% 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.

  • 1d · Related organizations

    $76,704

  • 1e · Government grants (contributions)

    $549,145

  • 2a · Program service revenue: RENTAL INCOME

    total $518,709 · related or exempt $518,709

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $132,196 · program services $132,196

  • 22 · Depreciation, depletion and amortization

    total $518,660 · program services $518,660

  • 24a · Other expenses: OPERATING EXPENSES

    total $380,395 · program services $380,395

  • 24b · Other expenses: PROPERTY TAX EXPENSE

    total $58,644 · program services $58,644

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $231,791 · end of year $63,446

  • 2 · Savings and temporary cash investments

    beginning of year $778 · end of year $138,537

  • 4 · Accounts receivable

    beginning of year $283,956 · end of year $101,940

  • 9 · Prepaid expenses and deferred charges

    end of year $3,350

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

    $11,327,761

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

    $1,025,929

  • 10c · Land, buildings and equipment, net

    beginning of year $10,133,904 · end of year $10,301,832

  • 15 · Other assets

    beginning of year $18,445 · end of year $30,943

  • 17 · Accounts payable and accrued expenses

    beginning of year $185,937 · end of year $56,337

  • 23 · Secured mortgages and notes payable

    beginning of year $8,634,396 · end of year $8,680,507

  • 27 · Net assets without donor restrictions

    beginning of year $1,848,541 · end of year $1,903,204

Mission and programs · 2023

Mission

ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF, TO SUPPORT THE FUNCTIONS OF, AND TO ASSIST IN CARRYING OUT THE PURPOSES OF THE NEIGHBORHOOD DEVELOPMENT CENTER BY PROVIDING FINANCIAL AND ADMINISTRATIVE SUPPORT, THROUGH OWNERSHIP, DEVELOPMENT AND OPERATION OF A TRAINING CENTER AND BUSINESS INCUBATOR TO BE USED BY THE CLIENTS OF NEIGHBORHOOD DEVELOPMENT CENTER.

  • WORKFORCE TRAINING CENTER - DURING 2020, A WORKFORCE TRAINING CENTER WAS CONSTRUCTED IN SAINT PAUL, MN WHICH IS NOW BEING USED BY NEIGHBORHOOD DEVELOPMENT CENTER'S CLIENTS TO PROVIDE INTEGRATED BUSINESS SERVICES FOR LOCAL ENTREPRENEURS IN LOW-INCOME NEIGHBORHOODS.

    Expenses $1,089,895 · Revenue $518,709

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mihailo Temali

    PRESIDENT

    Total calculated
    $204,627
    From this org
    $0
    From related orgs
    $178,241
    Other
    $26,386
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $178,241 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $26,386 related
    Filer's total
    $0 + $204,627 related

  • Ben Johnson

    SECRETARY/TREASURER

    Total calculated
    $138,518
    From this org
    $0
    From related orgs
    $112,639
    Other
    $25,879
    Hours/week
    1

  • Renay Dossman

    VICE PRESIDENT

    Total calculated
    $253,873
    From this org
    $0
    From related orgs
    $224,725
    Other
    $29,148
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $224,725 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $29,148 related
    Filer's total
    $0 + $253,873 related

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
17 October 2024
IRS schema version
2023v5.1
Source object
202413199349316131

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