Northside Development Corporation
- Assets
- $27.5m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 9
- Location
- Spartanburg, SC
- Founding
- 01/2013
- Data as of
- 06/2022
- EIN
- 30-0698663
Organization Overview
Northside Development Corporation is located in Spartanburg, SC. The organization was established in 2013. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Northside Development Corporation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northside 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 06/2022, Northside Development Corporation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $1.7m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Northside Development Corporation has awarded 23 individual grants totaling $6,155,428. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REDEVELOPMENT OF PROPERTIES - LANDSCAPING, UTILITY BILLING, BOARD-UP COSTS, PROFESSIONAL FEES AND OTHER EXPENSES RELATED TO PURCHASED PROPERTIES.
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.
FRANKLIN SCHOOL - A PROJECT TO DEVELOP A NEW EARLY LEARNING SCHOOL IN THE NORTHSIDE COMMUNITY.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Williamson Executive Di | Officer | 40 | $100,301 |
Laura Henthorn Treasurer | OfficerTrustee | 2.3 | $0 |
William Barnet III Chair | OfficerTrustee | 2.3 | $0 |
Chris Story Secretary | OfficerTrustee | 2.3 | $0 |
Mary L Thomas Vice Chair | OfficerTrustee | 2.3 | $0 |
Catherine Bass Black Trustee | Trustee | 2.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Par Grading & Hauling Developer | 6/29/22 | $710,402 |
Mp Services Contractor | 6/29/22 | $172,795 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,872,654 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,872,654 |
| Total Program Service Revenue | $89,094 |
| Investment income | $191,126 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$96,455 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$547,367 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,778,258 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $242,257 |
| Grants and other assistance to domestic individuals. | $11,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $101,854 |
| Compensation of current officers, directors, key employees. | $11,083 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $156,692 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $189,861 |
| Fees for services: Legal | $3,587 |
| Fees for services: Accounting | $43,358 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $198 |
| Advertising and promotion | $6,624 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,671 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,258 |
| Interest | $391,990 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,398 |
| Insurance | $18,057 |
| All other expenses | $60,177 |
| Total functional expenses | $1,723,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,609,560 |
| Savings and temporary cash investments | $1,019,873 |
| Pledges and grants receivable | $589,473 |
| Accounts receivable, net | $37,139 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $19,591,800 |
| Inventories for sale or use | $1,684,122 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,124,580 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $64,708 |
| Other assets | $803,589 |
| Total assets | $27,524,844 |
| Accounts payable and accrued expenses | $381,576 |
| 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 | $7,485,263 |
| Unsecured mortgages and notes payable | $14,873 |
| Other liabilities | $685,000 |
| Total liabilities | $8,566,712 |
| Net assets without donor restrictions | $18,205,137 |
| Net assets with donor restrictions | $752,995 |
| 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 | $27,524,844 |
Grants Awarded
Over the last fiscal year, Northside Development Corporation has awarded $242,257 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Greenwood, SC PURPOSE: SCHOOL OPERATION | $150,000 |
SPARTANBURG SCHOOL DIST 7 PURPOSE: CLEVELAND ACADEMY | $56,257 |
Greenwood, SC PURPOSE: LOAN INTEREST | $36,000 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Northside Development Corporation has recieved totaling $617,512.
| Awarding Organization | Amount |
|---|---|
Spartanburg County Foundation Spartanburg, SC PURPOSE: GENERAL SUPPORT | $350,000 |
Duke Endowment Charlotte, NC PURPOSE: TO CONTINUE TO SUPPORT A NEIGHBORHOOD-BASED EARLY CHILDHOOD INITIATIVE IN SPARTANBURG, S.C. | $200,000 |
Sisters Of Charity Foundation Of South Carolina Cleveland, OH PURPOSE: Social Services | $37,500 |
Balmer Foundation Inc Spartanburg, SC PURPOSE: GENERAL SUPPORT | $20,000 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $12 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
South Carolina I-77 Alliance Richburg, SC | $4,361,702 | $6,505,378 |
Access To Capital For Entrepreneurs Inc Cleveland, GA | $88,796,114 | $11,013,240 |
Columbia Metropolitan Convention And Visitors Bureau Columbia, SC | $6,376,262 | $4,843,981 |
Srs Community Reuse Organization Aiken, SC | $6,557,053 | $4,875,445 |
Grove Park Foundation Inc Atlanta, GA | $25,190,874 | $3,791,912 |
Rowen Foundation Inc Lawrenceville, GA | $75,583,362 | $5,573 |
Mdc Inc Durham, NC | $4,444,816 | $5,223,210 |
Palmetto Economic Development Corp Columbia, SC | $2,291,624 | $3,424,081 |
Fayetteville Area Convention & Visitors Bureau Inc Fayetteville, NC | $1,870,197 | $2,954,828 |
Upstate South Carolina Alliance Inc Greenville, SC | $3,024,516 | $2,638,082 |