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Nonprofiteer
← VILLAGE DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by VILLAGE DEVELOPMENT CORPORATION.

Totals

Total revenue
$204,493
Total expenses
$54,768
Contributions and grants received
$11,645
Grants paid
$0
Program service revenue
$27,441
Investment income
$142,586
Other revenue
$22,821
Total assets, end of year
$210,990
Total liabilities, end of year
$25,000
Net assets or fund balances, end of year
$185,990
Program services expenses (Part IX)
$52,516
Management and general expenses
$2,252
Fundraising expenses
$0
Program service expenses (Part III)
$52,516

Program services were 95.9% 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.

  • 1f · All other contributions, gifts and grants

    $11,645

  • 1g · Noncash contributions included above

    $10,000

  • 2a · Program service revenue: Rental

    total $27,441 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    other assets $192,586

  • 7b · Less cost or other basis and sales expenses

    other assets $50,000

  • 7c · Gain or loss

    other assets $142,586

  • 7d · Net gain or loss

    total $142,586 · related or exempt $142,586 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Insurance proceeds

    total $22,821 · related or exempt $22,821 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $22,821

Functional expenses

Part IX, the statement of functional expenses.

  • 13 · Office expenses

    total $2,252 · program services $0 · management and general $2,252 · fundraising $0

  • 16 · Occupancy

    total $32,015 · program services $32,015 · management and general $0 · fundraising $0

  • 20 · Interest

    total $875 · program services $875 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Cofee House Expense

    total $1,435 · program services $1,435 · management and general $0 · fundraising $0

  • 24b · Other expenses: Property taxes

    total $5,267 · program services $5,267 · management and general $0 · fundraising $0

  • 24c · Other expenses: Pocket Park expense

    total $3,046 · program services $3,046 · management and general $0 · fundraising $0

  • 24d · Other expenses: Apartment Maintenance

    total $9,878 · program services $9,878 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $23,190 · end of year $160,990

  • 7 · Other notes and loans receivable

    end of year $50,000

  • 10c · Land, buildings and equipment, net

    beginning of year $49,378

  • 24 · Unsecured notes and loans payable

    beginning of year $35,000 · end of year $25,000

  • 25 · Other liabilities

    beginning of year $1,950

  • 27 · Net assets without donor restrictions

    beginning of year $35,618 · end of year $185,990

Mission and programs · 2024

Mission

The mission of the Village Development Corporation is to continually revitalize the community by increasing home hownership, supporting business development, and by eliminating blight.

  • Rented property at 638 East Epworth

    Expenses $48,035 · Revenue $27,441

  • Neighborhood Coffee House

    Expenses $1,435

  • Pocket Park

    Expenses $3,046

As filed on the 2024 return.

Listed in Part VII

  • Paul Rudemiller

    President

    Total calculated
    $0
    Hours/week
    2

  • Brennan McNulty

    Vice President

    Total calculated
    $0
    Hours/week
    2

  • Dave Evans

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Steven Mingus

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Bill Carson

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jerry Moore

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Kathy Resnick

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Philip Murphy

    Trustee

    Total calculated
    $0
    Hours/week
    2

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
2024
Filed
30 September 2025
IRS schema version
2024v5.2
Source object
202503219349325470

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