Neighborhood Improvement Development Corporation Inc
- Assets
- $3.9m
- Revenue
- $265.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 02/1976
- Data as of
- 12/2022
- EIN
- 23-7380888
Organization Overview
Neighborhood Improvement Development Corporation Inc is located in Milwaukee, WI. The organization was established in 1976. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Improvement Development Corporation Inc 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 12/2022, Neighborhood Improvement Development Corporation Inc generated $265.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $311.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.0%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENCOURAGE PRIVATE LENDING INSTITUTIONS AND PROPERTY OWNERS TO MAKE IMPROVEMENTS TO THE COMMUNITY'S HOMES AND BUSINESSES. THE CORPORATION IS MANAGED BY A BOARD OF DIRECTORS MADE UP OF MEMBERS FORM THE PUBLIC AND PRIVATE SECTORS. THE CITY OF MILWAUKEE INCLUDES THE CORPORATION AS A COMPONENT UNIT ENTERPRISE FUND IN ITS COMPREHENSIVE ANNUAL FINANCIAL REPORT. THIS COMPONENT UNITY DESIGNATION IS BASED ON THE OVERSIGHT RESPONSIBILITIES AND FINANCIAL ACCOUNTABILITY OF THE CITY IN CONNECTION WITH THE GRANT PROGRAMS ADMINISTRATED BY THE CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEIGHBORHOOD REVITALIZATION - ENCOURAGE PRIVATE LENDING INSTITUTIONS AND PROPERTY OWNERS TO MAKE IMPROVEMENTS TO THE COMMUNITY'S HOMES AND BUSINESSES.
HOUSING PRODUCTION - ALL EXPENSES RELATED TO THE REHABILITATION AND RESALE OF HOUSES IN LOW-INCOME AREAS TO LOW-INCOME INDIVIDUALS WHO OTHERWISE WOULD LIKELY NOT QUALIFY FOR BANK FINANCING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Milele Coggs Board Member | Trustee | 0.5 | $0 |
James Witkowiak Chair | OfficerTrustee | 0.5 | $0 |
Darryl Johnson Vice Chair | OfficerTrustee | 0.5 | $0 |
Miguel Pasqueira Secretary-Treasurer | Trustee | 0.5 | $0 |
Carla Cross Board Member | Trustee | 0.5 | $0 |
Frank Cumberbatch Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $58,592 |
| All other contributions, gifts, grants, and similar amounts not included above | $110,650 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $169,242 |
| Total Program Service Revenue | $56,499 |
| Investment income | $4,636 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,827 |
| Net Gain/Loss on Asset Sales | $20,139 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $265,267 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $121,531 |
| Grants and other assistance to domestic individuals. | $80,000 |
| 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 | $19,000 |
| 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 | $19,386 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,823 |
| Travel | $11,094 |
| 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 | $1,250 |
| All other expenses | $0 |
| Total functional expenses | $311,356 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,413,047 |
| Savings and temporary cash investments | $776,366 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $56,887 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $41,317 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $505,011 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,097,712 |
| Total assets | $3,890,340 |
| Accounts payable and accrued expenses | $50,838 |
| Grants payable | $0 |
| Deferred revenue | $164,211 |
| 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 | $0 |
| Other liabilities | $735,322 |
| Total liabilities | $950,371 |
| Net assets without donor restrictions | $2,322,300 |
| Net assets with donor restrictions | $617,669 |
| 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 | $3,890,340 |
Grants Awarded
Over the last fiscal year, Neighborhood Improvement Development Corporation Inc has awarded $101,905 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HEALTHY NEIGHBORS PURPOSE: COMMUNITY REHABILITATION | $75,405 |
BISHOP CREEK TID PURPOSE: COMMUNITY REHABILITATION | $21,500 |
METCALFE TID PURPOSE: COMMUNITY REHABILITATION | $5,000 |