Urban Neighborhood Development Corporation
- Assets
- $457.1k
- Revenue
- $205.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Akron, OH
- Founding
- 10/1980
- Data as of
- 12/2023
- EIN
- 34-1301009
Organization Overview
Urban Neighborhood Development Corporation is located in Akron, OH. The organization was established in 1980. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Urban Neighborhood Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Urban Neighborhood Development Corporation generated $205.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $13.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (33.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
URBAN NEIGHBORHOOD DEVELOPMENT CORPORATION IS A NON PROFIT ORGANIZATION FOR THE CITY OF AKRON, OHIO. WE CONSTRUCT QUALITY, AFFORDABLE HOUSING IN AKRON. OUR FOCUS IS TO REVITALIZE AND STABILIZE COMMUNITIES WITH SAFE, SECURE HOUSING. WE UPLIFT COMMUNITIES WHERE PEOPLE CAN WORK, LIVE, THRIVE AND PLAY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE URBAN NEIGHBORHOOD DEVELOPMENT CORPORATION (UNDC) IS A NON-PROFIT CORPORATION ADMINISTERED BY THE DEPARTMENT OF PLANNING & URBAN DEVELOPMENT, WHICH CONTRACTS AND OVERSEES THE CONSTRUCTION OF NEW SINGLE-FAMILY HOMES ON SCATTERED SITES AROUND THE CITY. THE OBJECTIVE IS TO PROMOTE THE REVITALIZATION OF THE URBAN NEIGHBORHOODS THROUGH NEW PRIVATE MARKET HOUSING FOR MODERATE AND MIDDLE-INCOME FAMILIES. THE UNDC TYPICALLY BUILDS NEW HOMES ON LOTS WHERE DILAPIDATED STRUCTURES HAVE BEEN DEMOLISHED, RETURNING PREVIOUSLY BLIGHTED NEIGHBORHOODS TO A STABILIZED NEW HOUSING MARKET AREA. THE NEW HOMES ARE GENERALLY PRICED AT MARKET VALUE. EACH NEW HOME FEATURES AT LEAST 3 BEDROOMS, 1-1/2 BATHS, LIVING ROOM, FAMILY ROOM, AND A 2-CAR GARAGE. COMMUNITY DEVELOPMENT FUNDS ARE USED FOR UNDC HOUSES SOLD TO LOW AND MODERATE INCOME FAMILIES. UNDC ALSO UTILIZES AVAILABLE GRANTS AND NEIGHBORHOOD STABILIZATION PROGRAM FUNDS TO BUILD NEW HOUSING WITH BUYER ASSISTANCE. SINCE INCEPTION, THE UNDC HAS BUILT OVER 400 NEW HOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Crasi Trustee | Trustee | 1 | $0 |
David Honig Chair | OfficerTrustee | 1 | $0 |
Jennifer Rodgers Trustee | Trustee | 1 | $0 |
Tamela Skipper Trustee | Trustee | 1 | $0 |
Adele Tubbs Trustee | Trustee | 1 | $0 |
Frederick Wheat Program Mana | Officer | 14 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $550,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $550,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$344,828 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $205,172 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,441 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $83 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,160 |
| All other expenses | $0 |
| Total functional expenses | $13,068 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $388,702 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $68,400 |
| Total assets | $457,102 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $20,460 |
| Other liabilities | $0 |
| Total liabilities | $20,460 |
| Net assets without donor restrictions | $436,642 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $457,102 |