Form 990 for tax year 2024

Filed by NORTHSIDE DEVELOPMENT CORPORATION.

Totals

Total revenue: $2,994,117
Total expenses: $2,992,391
Contributions and grants received: $2,781,378
Grants paid: $527,073
Program service revenue: $113,584
Investment income: $230,950
Other revenue: -$131,795
Total assets, end of year: $27,115,720
Total liabilities, end of year: $9,769,439
Net assets or fund balances, end of year: $17,346,281
Program services expenses (Part IX): $2,607,307
Management and general expenses: $340,202
Fundraising expenses: $44,882
Program service expenses (Part III): $2,607,307

Program services were 87.1% 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.

1f · All other contributions, gifts and grants

$2,781,378
2a · Program service revenue: PROGRAM SERVICE REVENUE

total $113,584 · related or exempt $113,584
3 · Investment income

total $230,950 · excluded $230,950
10a · Gross sales of inventory

$571,150
10b · Cost of goods sold

$780,182
10c · Net income from sales of inventory

total -$209,032 · related or exempt -$209,032
11a · Other revenue: OTHER REVENUE

total $77,237 · related or exempt $77,237
11e · Other revenue, total

$77,237

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $403,891 · program services $403,891
2 · Grants to domestic individuals

total $123,182 · program services $123,182
5 · Compensation of officers, directors and key employees

total $83,194 · program services $54,203 · management and general $25,120 · fundraising $3,871
7 · Other salaries and wages

total $330,209 · program services $217,093 · management and general $97,609 · fundraising $15,507
11a · Fees: management

total $163,872 · program services $31,466 · management and general $115,656 · fundraising $16,750
11b · Fees: legal

total $6,325 · program services $6,325
11g · Fees: other

total $1,982 · management and general $1,982
12 · Advertising and promotion

total $10,493 · program services $1,739 · fundraising $8,754
16 · Occupancy

total $61,899 · program services $61,899
19 · Conferences, conventions and meetings

total $86,317 · program services $57,461 · management and general $28,856
20 · Interest

total $340,102 · program services $340,102
22 · Depreciation, depletion and amortization

total $76,773 · program services $65,895 · management and general $10,878
23 · Insurance

total $19,162 · program services $19,144 · management and general $18
24a · Other expenses: OTHER DIRECT EXPENSES

total $1,023,088 · program services $1,023,088
24b · Other expenses: REPAIRS AND MAINTENANCE

total $107,677 · program services $107,677
24c · Other expenses: SUPPLIES AND GENERAL

total $69,329 · program services $9,246 · management and general $60,083
24d · Other expenses: COMMUNITY OUTREACH

total $35,537 · program services $35,537
24e · All other expenses

total $49,359 · program services $49,359

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $296,073 · end of year $700,596
2 · Savings and temporary cash investments

beginning of year $346,884 · end of year $100,279
4 · Accounts receivable

beginning of year $62,878 · end of year $221,021
7 · Other notes and loans receivable

beginning of year $19,812,800 · end of year $19,800,300
8 · Inventories for sale or use

beginning of year $2,184,044 · end of year $1,524,344
9 · Prepaid expenses and deferred charges

end of year $3,901
10a · Land, buildings and equipment: cost or other basis

$1,164,195
10b · Land, buildings and equipment: accumulated depreciation

$510,693
10c · Land, buildings and equipment, net

beginning of year $749,231 · end of year $653,502
14 · Intangible assets

beginning of year $29,809 · end of year $12,360
15 · Other assets

beginning of year $3,945,853 · end of year $4,099,417
17 · Accounts payable and accrued expenses

beginning of year $85,279 · end of year $78,678
23 · Secured mortgages and notes payable

beginning of year $6,734,973 · end of year $7,123,126
24 · Unsecured notes and loans payable

beginning of year $397,761 · end of year $74,302
25 · Other liabilities

beginning of year $2,865,004 · end of year $2,493,333
27 · Net assets without donor restrictions

beginning of year $17,265,540 · end of year $17,046,281
28 · Net assets with donor restrictions

beginning of year $79,015 · end of year $300,000

Mission and programs · 2024

Mission

THE NORTHSIDE INITIATIVE IS WORKING TO FUNDAMENTALLY TRANSFORM THE NORTHSIDE NEIGHBORHOOD INTO A COMMUNITY OF CHOICE, WHERE CURRENT RESIDENTS CHOOSE TO STAY AND NEW PEOPLE CHOOSE TO MOVE. RESIDENTS WHO WANT TO STAY AND MAKE A BETTER LIFE FOR THEMSELVES IN THE NORTHSIDE WILL HAVE EVERY OPPORTUNITY TO DO SO. THE NORTHSIDE INITIATIVE HAS BEEN DESCRIBED AS THE MOST AMBITIOUS REDEVELOPMENT IN SPARTANBURG'S HISTORY. RESIDENTS AND STAKEHOLDERS AT ALL LEVELS WERE KEY TO THE DEVELOPMENT OF THIS IMPLEMENTATION PLAN.

REDEVELOPMENT OF PROPERTIES - LANDSCAPING, UTILITY BILLING, BOARD-UP COSTS, PROFESSIONAL FEES AND OTHER EXPENSES RELATED TO PURCHASED PROPERTIES.

Expenses $293,633 · Revenue $113,584
NORTHSIDE STATION - A MIXED USE MIXED INCOME HOUSING AND COMMERCIAL DEVELOPMENT PROJECT THAT INCLUDES MARKET-RATE AND AFFORDABLE HOUSING AND A COMMERCIAL COMPONENT FOR A CLINIC, RETAIL AND OFFICE SPACE. NORTHSIDE STATION APARTMENTS - AN AFFORDABLE HOUSING DEVELOPMENT WITH APPROXIMATELY 90 UNITS IN THE NORTHSIDE COMMUNITY.

Expenses $346,759
FRANKLIN SCHOOL - A PROJECT TO DEVELOP A NEW EARLY LEARNING SCHOOL IN THE NORTHSIDE COMMUNITY.

Expenses $77,000 · Grants $77,000
RECREATIONAL CENTER - CONTRIBUTIONS TO TK GREGG RECREATION CENTER AND FOOTBALL FIELD LOCATED IN THE NORTHSIDE. ADEN WAREHOUSES - A PROJECT TO ACQUIRE THE WAREHOUSES AT 300 ADEN STREET WITH PLANS TO REMEDIATE THE PROPERTIES IN CONJUNCTION WITH THE CITY OF SPARTANBURG IN A MANNER SUFFICIENT TO ENCOURAGE FUTURE DEVELOPMENT. NEIGHBORHOOD IMPROVEMENT PROGRAM - PROVIDES FUNDING AND CASE MANAGEMENT TO REHABILITATE OWNER OCCUPIED HOUSING WITHIN THE NORTHSIDE NEIGHBORHOOD. HOMEOWNERS THAT QUALIFY CAN RECEIVE UP TO 25,000 IN A FORGIVABLE LOAN FOR HOME REPAIRS. THE GOAL IS TO SUPPORT EXISTING LOW AND MODERATE INCOME RESIDENTS WITH NEEDED HOME REPAIRS AND IMPROVE THE OVERALL COMMUNITY. VOYAGER COMMUNITY LEADERSHIP - RESIDENT LEADERS SUPPORTING THE IMPLEMENTATION OF THE NORTHSIDE TRANSFORMATION PLAN. CASE MANAGEMENT - PROVIDES SUPPORTIVE SERVICES TO NORTHSIDE RESIDENTS THROUGH ONE ON ONE AND GROUP CASE MANAGEMENT SERVICES TO INCLUDE BUT NOT LIMITED TO FINANCIAL WELLNESS, EDUCATION, AND EMPLOYMENT OPPORTUNITIES THROUGH PARTNERSHIPS AND ACCESS TO SMALL AND MICRO BUSINESS EDUCATION AND FUNDING OPPORTUNITIES. CLEVELAND ACADEMY OF LEADERSHIP SUPPORT AND PROGRAMMING - PROVIDES FINANCIAL SUPPORT FOR PROGRAMMING FOR EDUCATION AND ENRICHMENT OPPORTUNITIES FOR STUDENTS. START ME - AN ENTREPRENEURSHIP ACCELERATOR PROGRAM THAT PROVIDES PARTICIPANTS WITH 14 WEEKS OF BUSINESS TRAINING. THIS PROGRAM IS AN INITIATIVE TO HELP LOCALS FORM SUCCESSFUL SMALL BUSINESSES WITHIN THE COMMUNITY.

Expenses $1,889,915 · Grants $450,073

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

Listed in Part VII

Michael WilliamsonMICHAEL WILLIAMSON

EXECUTIVE DI

Total calculated

$124,256

From this org

$112,813

From related orgs

$0

Other

$11,443

Hours/week

40
Catherine Bass BlackCATHERINE BASS BLACK

VICE CHAIR

Total calculated

$0

Hours/week

2.3
Larry CrudupLARRY CRUDUP

TRUSTEE

Total calculated

$0

Hours/week

2.3
Shaunte EvansSHAUNTE EVANS

TRUSTEE

Total calculated

$0

Hours/week

2.3
Reggie GeterREGGIE GETER

SECRETARY

Total calculated

$0

Hours/week

2.3
Troy HannaTROY HANNA

TRUSTEE

Total calculated

$0

Hours/week

2.3
Laura HenthornLAURA HENTHORN

TRUSTEE

Total calculated

$0

Hours/week

2.3
Wanda Cheeks HolmesWANDA CHEEKS HOLMES

TRUSTEE

Total calculated

$0

Hours/week

2.3
William Barnet IIIWILLIAM BARNET III

TRUSTEE

Total calculated

$0

Hours/week

2.3 + 2 related
Meredith LindseyMEREDITH LINDSEY

TRUSTEE

Total calculated

$0

Hours/week

2.3
Tamara MakupsonTAMARA MAKUPSON

TRUSTEE

Total calculated

$0

Hours/week

2.3
Alex PowellALEX POWELL

TREASURER

Total calculated

$0

Hours/week

2.3
Carey RothschildCAREY ROTHSCHILD

TRUSTEE

Total calculated

$0

Hours/week

2.3 + 2 related
Tim SchmitzTIM SCHMITZ

TRUSTEE

Total calculated

$0

Hours/week

2.3 + 2 related
Loretta SingletonLORETTA SINGLETON

TRUSTEE

Total calculated

$0

Hours/week

2.3
Chris StoryCHRIS STORY

TRUSTEE

Total calculated

$0

Hours/week

2.3
Molly Talbot-MetzMOLLY TALBOT-METZ

TRUSTEE

Total calculated

$0

Hours/week

2.3
John VerreaultJOHN VERREAULT

CHAIR

Total calculated

$0

Hours/week

2.3
Teresa WrayTERESA WRAY

TRUSTEE

Total calculated

$0

Hours/week

2.3

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

SPARTANBURG SCHOOL DIST 7

$326,891

CLEVELAND ACADEMY
FRANKLIN SCHOOL FACILITIES CORP

$77,000

PRE K SCHOOL

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.

FRANKLIN SCHOOL FACILITIES CORP

501C3 · DEVELOPMNT · SC
ADEN WAREHOUSES

NA · DEVELOPMNT · SC

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

NORTHSIDE COMMUNITY FACILITIES COMPANY LLC

C CORP · DEVELOPMEN · SC · 100% owned · share of income -$105,897 · share of assets $12,291,177
NORTHSIDE HOUSING I LLC

C CORP · DEVELOPMEN · SC · 19% owned

Provenance

Return type: form_990
Tax year: 2024
Filed: 11 May 2026
IRS schema version: 2024v5.0
Source object: 202611359349302621

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