Vanguard Community Development Corporation
- Assets
- $3.2m
- Revenue
- $948.7k
- Investments
- $0.0
- Employees
- 8
- Location
- Detroit, MI
- Founding
- 01/1995
- Data as of
- 12/2022
- EIN
- 38-3201091
Organization Overview
Vanguard Community Development Corporation is located in Detroit, MI. The organization was established in 1995. 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. As of 12/2022, Vanguard Community Development Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vanguard Community 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 12/2022, Vanguard Community Development Corporation generated $948.7k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. 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
VANGUARD'S MISSION IN DETROIT'S HISTORIC NORTH END IS TO CULTIVATE A VIBRANT AND HEALTHY COMMUNITY WHERE PEOPLE LIVE, WORK, AND PLAY. OUR CORE VALUES ARE ECONOMIC EQUITY AND RACIAL EQUITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VANGUARD HAS BUILT 236 AFFORDABLE HOMES INCLUDING 206 IN DETROIT'S HISTORIC NORTH END AND 48 FOR SENIORS. THESE HOMES WERE DEVELOPED TO PROVIDE MUCH NEEDED HOUSING FOR PEOPLE WITH LOW TO MODERATE ECONOMIC MEANS TO ENSURE THAT THESE HOMES ARE CLEAN, SAFE AND ATTRACTIVE. VANGUARD CDC, AVANATH, RMC DEVELOPMENT AND TEKTON HAVE JOINED TOGETHER FOR THE SOLE PURPOSE OF DEVELOPING NORTH END LANDING AS MARKET RATE, AFFORDABLE AND SENIOR HOUSING IN THE SMITH STREET/DELORES BENNETT PARK AREA OF THE HISTORIC NORTH END.
VANGUARD'S COMMUNITY ENGAGEMENT PROGRAM IS DESIGNED TO ORGANIZE COMMUNITY RESIDENTS AND STAKEHOLDERS. WE SERVE AS AN INFORMATION CLEARING HOUSE AND EDUCATION TO OPTIMIZE COMMUNITY ENGAGEMENT IN A RAPIDLY CHANGING NEIGHBORHOOD. WE ORGANIZE RESIDENTS TO CREATE CHANGE. THE PURPOSE IS TO TRANSMIT CRITICALLY NEEDED INFORMATION SO THAT RESIDENTS WILL BE ACTIVELY ENGAGED IN REDEVELOPING THEIR NEIGHBORHOOD AS WELL AS MAKING GOOD STRATEGIC DECISIONS ABOUT SUCH. INCLUDED IN THIS ACTIVITY BEGINNING IN 2021, VANGUARD HAS STARTED THE BEAUTIFICATION OF EAST GRAND BOULEVARD FROM WOODWARD AVE TO I-75. THIS PROJECT WILL LAST THREE (3) YEARS. IT WILL INCLUDE ART, PLACEMAKING, STORYTELLING ABOUT THE HISTORIC AREA, CLEAN AND SAFE ACTIVITIES, FESTIVALS AND MORE.
VANGUARD OPERATES A COMPREHENSIVE ECONOMIC DEVELOPMENT PROGRAM WHICH IS CENTERED ON THE NORTH END COMMERCIAL DISTRICT INCLUDING MILWAUKEE JUNCTION. VANGUARD IMPLEMENTS PROVEN ECONOMIC DEVELOPMENT STRATEGIES AND PROVIDES TECHNICAL ASSISTANCE TO DISTRICT BUSINESSES, RESIDENTS, AND STAKEHOLDERS. VANGUARD SERVES AS THE NORTH END/MILWAUKEE JUNCTION COMMERCIAL DISTRICT MANAGER. AS SUCH, WE PROVIDE A FULL ARRAY OF SERVICES THAT THE COMMUNITY IDENTIFIED AS ESSENTIAL. THESE INCLUDE: COMMERCIAL DISTRICT BRANDING AND PROMOTION, BUILDING AND STAFFING THE DISTRICT BUSINESS ASSOCIATION, EXPANDING AND DEVELOPING WORKFORCE DEVELOPMENT OPPORTUNITIES, SUPPORTING DISTRICT BUSINESSES, CREATING A STRONGER SENSE OF PLACE THROUGH PHYSICAL DEVELOPMENT, LEVERAGING RESOURCES, CREATING GREEN SPACE, PRESERVING AND ELEVATING THE DISTRICT'S RICH, UNIQUE, AFRICAN-AMERICAN HISTORY AND ENSURING ECONOMIC EQUITY AND RACIAL JUSTICE IN ALL DISTRICT DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pamela Martin Turner President And CEO | Officer | 50 | $168,600 |
Everett Stone SVP And CFO | Officer | 55 | $140,599 |
Sonya Delley Director | Trustee | 2 | $0 |
George Eason Director | Trustee | 1 | $0 |
Adam Hollier Director | Trustee | 1 | $0 |
Terrence Wheeler Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $5,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $812,208 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $817,208 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $131,468 |
| 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 | $948,676 |
| 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. | $431,200 |
| Compensation of current officers, directors, key employees. | $55,625 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $186,651 |
| Pension plan accruals and contributions | $134,603 |
| Other employee benefits | $58,247 |
| Payroll taxes | $48,858 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,250 |
| Office expenses | $47,770 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $104,691 |
| Travel | $2,310 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,415 |
| Interest | $26,273 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $105,687 |
| Insurance | $28,444 |
| All other expenses | $233,723 |
| Total functional expenses | $1,463,232 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,425 |
| Savings and temporary cash investments | $154,545 |
| Pledges and grants receivable | $47,869 |
| Accounts receivable, net | $53,911 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $468,887 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $21,089 |
| Net Land, buildings, and equipment | $2,285,292 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $190,915 |
| Total assets | $3,249,933 |
| Accounts payable and accrued expenses | $141,824 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $7,902 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $447,718 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $597,444 |
| Net assets without donor restrictions | $2,252,751 |
| Net assets with donor restrictions | $399,738 |
| 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 | $3,249,933 |