Neighborhood Development Corp
- Assets
- $6.8m
- Revenue
- $2.5m
- Investments
- $111.0k
- Employees
- 2
- Location
- Des Moines, IA
- Founding
- 07/2000
- Data as of
- 12/2021
- EIN
- 42-1489223
Organization Overview
Neighborhood Development Corp is located in Des Moines, IA. The organization was established in 2000. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Neighborhood Development Corp employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Development Corp 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 12/2021, Neighborhood Development Corp generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $1.3m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ACQUISTION AND REDEVELOPMENT OF DETERIORATED PROPERTIES IN POLK COUNTY, IOWA
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUISITION OF COMMERCIAL AND RESIDENTIAL PROPERTIES FOR FUTURE DEVELOPMENT CONSISTENT WITH GOVERNMENT APPROVED DEVELOPMENT PLANS IN AN EFFOR TO COMBAT COMMUNITY DETERIORATION AND TO ASSIST IN THE CREATION OF HOUSING, SMALL BUSINESS, AND EMPLOYMENT OPPORTUNITIES IN LOW TO MODERATE INCOME CENSUS TRACKS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abbey Gilroy Executive Director | 40 | $142,778 | |
Sadie Trytten Employee | 40 | $112,883 | |
Bret Vandelune Treasurer | OfficerTrustee | 1 | $0 |
Brian Clark President | OfficerTrustee | 1 | $0 |
Erin Olson-Douglas Secretary | OfficerTrustee | 1 | $0 |
Chris Johansen Vice President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ramms Construction Llc General Contractor | 12/30/18 | $177,278 |
Pic Inc General Contractor | 12/30/18 | $145,000 |
Estes Construction General Contractor | 12/30/18 | $345,626 |
Blue Ribbon Builders Llc General Contractor | 12/30/18 | $243,575 |
Tesdell Electric Ltd General Contractor | 12/30/18 | $187,117 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,960,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $85,217 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,045,217 |
| Total Program Service Revenue | $352,991 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,495,754 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $20,300 |
| 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 | $255,662 |
| Pension plan accruals and contributions | $11,252 |
| Other employee benefits | $22,370 |
| Payroll taxes | $18,965 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,852 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $460 |
| Office expenses | $15,537 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,943 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $188,588 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $106,864 |
| Insurance | $48,997 |
| All other expenses | $109,126 |
| Total functional expenses | $1,338,719 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $704,876 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $351,369 |
| 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 | $4,416,189 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $111,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,219,743 |
| Total assets | $6,803,177 |
| Accounts payable and accrued expenses | $750,413 |
| 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 | $4,012,350 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $39,055 |
| Total liabilities | $4,801,818 |
| Net assets without donor restrictions | $1,571,079 |
| Net assets with donor restrictions | $430,280 |
| 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 | $6,803,177 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Neighborhood Development Corp has recieved totaling $65,900.
| Awarding Organization | Amount |
|---|---|
Invest Dsm Des Moines, IA PURPOSE: DEVELOPER GRANT | $65,900 |
Endowment Analysis
| Beg. Balance | $213,805 |
| Earnings | $143 |
| Net Contributions | $1,050,000 |
| Other Expense | $1,135,616 |
| Ending Balance | $128,332 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beyond Housing Inc Pine Lawn, MO | $38,518,173 | $15,419,086 |
Holy Name Housing Corporation Omaha, NE | $22,109,474 | $11,884,709 |
Center For Veterans Issues Inc Milwaukee, WI | $5,642,001 | $8,532,002 |
Neighborworks Home Partners Saint Paul, MN | $22,327,379 | $11,840,532 |
Full Circle Communities Inc Chicago, IL | $146,223,116 | $65,892,596 |
Little Earth Of United Tribes Housing Corporation Minneapolis, MN | $16,435,271 | $3,915,477 |
Heartland Housing Inc Chicago, IL | $62,362,364 | $6,250,781 |
Habitat For Humanity International Inc Wheaton, IL | $6,181,970 | $4,027,950 |
Invest Dsm Des Moines, IA | $13,108,701 | $110,576 |
Daytons Bluff Neighborhood Housing Services Inc Saint Paul, MN | $22,257,418 | $1,487,305 |
Heartland Independent Living Center Owensville, MO | $2,130,293 | $2,069,322 |
Neighborhood Development Corp Des Moines, IA | $6,803,177 | $2,495,754 |