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← WILMINGTON NEIGHBORHOOD CONSERVANCY LAND BANK CORPORATION

Form 990 for tax year 2024

Filed by WILMINGTON NEIGHBORHOOD CONSERVANCY LAND BANK CORPORATION.

Totals

Total revenue
$5,888,451
Total expenses
$2,299,306
Contributions and grants received
$7,205,983
Grants paid
$0
Program service revenue
$0
Investment income
-$1,317,532
Other revenue
$0
Total assets, end of year
$9,052,955
Total liabilities, end of year
$2,897,470
Net assets or fund balances, end of year
$6,155,485
Program services expenses (Part IX)
$2,048,743
Management and general expenses
$149,574
Fundraising expenses
$100,989
Program service expenses (Part III)
$2,048,743

Program services were 89.1% 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)

    $6,812,450

  • 1f · All other contributions, gifts and grants

    $393,533

  • 1g · Noncash contributions included above

    $10,200

  • 3 · Investment income

    total $18,041 · excluded $18,041

  • 7a · Gross sales of assets other than inventory

    other assets $1,613,153

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

    other assets $2,948,726

  • 7c · Gain or loss

    other assets -$1,335,573

  • 7d · Net gain or loss

    total -$1,335,573 · related or exempt -$1,335,573

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $146,191 · program services $116,953 · management and general $14,619 · fundraising $14,619

  • 7 · Other salaries and wages

    total $182,200 · program services $96,000 · management and general $12,000 · fundraising $74,200

  • 8 · Pension plan contributions

    total $3,171 · program services $2,537 · management and general $317 · fundraising $317

  • 9 · Other employee benefits

    total $13,311 · program services $10,649 · management and general $1,331 · fundraising $1,331

  • 10 · Payroll taxes

    total $23,501 · program services $14,994 · management and general $1,874 · fundraising $6,633

  • 11b · Fees: legal

    total $9,005 · program services $7,414 · management and general $1,591

  • 11c · Fees: accounting

    total $94,944 · management and general $94,944

  • 11g · Fees: other

    total $60,091 · program services $53,577 · management and general $6,514

  • 12 · Advertising and promotion

    total $16,953 · program services $16,953

  • 13 · Office expenses

    total $8,653 · program services $6,923 · management and general $865 · fundraising $865

  • 14 · Information technology

    total $6,860 · program services $5,488 · management and general $686 · fundraising $686

  • 16 · Occupancy

    total $23,376 · program services $18,700 · management and general $2,338 · fundraising $2,338

  • 17 · Travel

    total $1,886 · management and general $1,886

  • 20 · Interest

    total $260 · management and general $260

  • 22 · Depreciation, depletion and amortization

    total $749 · program services $749

  • 23 · Insurance

    total $47,595 · program services $37,246 · management and general $10,349

  • 24a · Other expenses: SUBSIDY ALLOWANCE ON PR

    total $1,266,372 · program services $1,266,372

  • 24b · Other expenses: PROPERTY MAINTENANCE CO

    total $301,622 · program services $301,622

  • 24c · Other expenses: POLLUTION REMEDIATION E

    total $92,566 · program services $92,566

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,930,053 · end of year $4,606,833

  • 2 · Savings and temporary cash investments

    end of year $518,790

  • 3 · Pledges and grants receivable

    beginning of year $137,248 · end of year $125,000

  • 7 · Other notes and loans receivable

    end of year $62,500

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,265 · end of year $15,915

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

    $1,301,871

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

    $14,978

  • 10c · Land, buildings and equipment, net

    beginning of year $749 · end of year $1,286,893

  • 15 · Other assets

    beginning of year $1,592,992 · end of year $2,437,024

  • 17 · Accounts payable and accrued expenses

    beginning of year $184,033 · end of year $269,351

  • 19 · Deferred revenue

    beginning of year $1,484,704 · end of year $2,541,473

  • 23 · Secured mortgages and notes payable

    beginning of year $592,500

  • 25 · Other liabilities

    beginning of year $87,306 · end of year $86,646

  • 27 · Net assets without donor restrictions

    beginning of year $2,255,586 · end of year $5,973,068

  • 28 · Net assets with donor restrictions

    beginning of year $74,178 · end of year $182,417

Mission and programs · 2024

Mission

THE MISSION OF THE WILMINGTON NEIGHBORHOOD CONSERVANCY LAND BANK (WNCLB) IS TO RETURN VACANT, DILAPIDATED, ABANDONED, AND DELINQUENT PROPERTIES TO PRODUCTIVE USE IN ORDER TO STRENGTHEN AND REVITALIZE OUR NEIGHBORHOODS AND SPUR ECONOMIC DEVELOPMENT.WE ACCOMPLISH OUR MISSION IN A WAY THAT: - IS PURPOSEFUL, TRANSPARENT, AND FOR THE PUBLIC GOOD; - IMPROVES THE COORDINATION OF RESOURCES AND EFFORTS WITHIN AND BETWEEN GOVERNMENTS, COMMUNITY ORGANIZATIONS, AND THE PRIVATE SECTOR; - IS BOTH ECONOMICALLY EFFICIENT AND SUSTAINABLE; - REFLECTS THE GOALS AND OBJECTIVES OF THE CITY'S COMPREHENSIVE DEVELOMPENT PLAN; AND - INVESTS IN EXISTING NEIGHBORHOODS.

Activities or mission (Part I)

THE MISSION OF THE WILMINGTON NEIGHBORHOOD CONSERVANCY LAND BANK (WNCLB) IS TO RETURN VACANT, DILAPIDATED, ABANDONED, AND DELINQUENT PROPERTIES TO PRODUCTIVE USE IN ORDER TO STRENGTHEN AND REVITALIZE OUR NEIGHBORHOODS AND SPUR ECONOMIC DEVELOPMENT.WE ACCOMPLISH OUR MISSION IN A WAY THAT: - IS PURPOSEFUL, TRANSPARENT, AND FOR THE PUBLIC GOOD; - IMPROVES THE COORDINATION OF RESOURCES AND EFFORTS WITHIN AND BETWEEN GOVERNMENTS, COMMUNITY ORGANIZATIONS, AND THE PRIVATE SECTOR; - IS BOTH ECONOMICALLY EFFICIENT AND SUSTAINABLE; - REFLECTS THE GOALS AND OBJECTIVES OF THE CITY'S COMPREHENSIVE DEVELOPMENT PLAN; AND - INVESTS IN EXISTING NEIGHBORHOODS.

  • RETURN VACANT, DILAPIDATED, ABANDONED, AND DELINQUENT PROPERTIES TO PRODUCTIVE USE IN ORDER TO STRENGTHEN AND REVITALIZE OUR NEIGHBORHOODS AND SPUR ECONOMIC DEVELOPMENT.

    Expenses $2,048,743 · Revenue -$1,335,573

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard J Gessner Jr

    CHAIR

    Total calculated
    $0
    Hours/week
    10

  • Raheemah Jabbar-Bey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert L Weir

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ernest Congo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Christopher C Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tom Ogden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Maria Cabrera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Cassandra Marshall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Vandell Hampton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Timothy Lucas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Ross

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ray Fitzgerald

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kevin Smith

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Susan Frank

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Hal Schneikert

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Ray Saccomandi

    CHIEF OPERATING OFFICER

    Total calculated
    $146,191
    From this org
    $125,000
    From related orgs
    $0
    Other
    $21,191
    Hours/week
    40

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.

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.

  • CITY OF WILMINGTON DELAWARE

    GOVERNMENT ENTITY · PRIMARY LOCAL GOVERNMENT · DE

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202543169349303114

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