Neighborhood Development Alliance Inc
- Assets
- $11.7m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 10
- Location
- Saint Paul, MN
- Founding
- 03/1994
- Data as of
- 06/2023
- EIN
- 41-1658636
Organization Overview
Neighborhood Development Alliance Inc is located in Saint Paul, MN. The organization was established in 1994. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Neighborhood Development Alliance Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Development Alliance 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 06/2023, Neighborhood Development Alliance Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $1.7m during the year ending 06/2023. While expenses have increased by 3.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
NEDA IS A NONPROFIT COMMUNITY DEVELOPMENT CORPORATION WHOSE MISSION IS TO BUILD AFFORDABLE HOUSING AND EMPOWER COMMUNITIES TO CREATE SUSTAINABLITY THROUGH FINANCIAL EDUCATION AND GUIDANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOUSING SERVICES PROVIDED BY NEDA ARE DESCRIBED BELOW: HOME OWNERSHIP ADVISING SERVICES: NEDA IS A BI-LINGUAL (SPANISH/ENGLISH) HUD-CERTIFIED COUNSELING AGENCY PROVIDING BI-LINGUAL PRE-PURCHASE, POST-PURCHASE, AND FORECLOSURE PREVENTION COUNSELING. NEDA OFFERS BI-LINGUAL CREDIT COUNSELING AND FINANCIAL LITERACY COACHING AND WORKSHOPS. THROUGH NEDA CENTRO DE FINANZAS, NEDA ORIGINATES CREDIT BUILDER LOANS AND HOME REHAB LOANS. COMMUNITY DEVELOPMENT: NEDA PROVIDES COMMERCIAL BUILDING REHAB LOANS ON ST. PAUL'S WEST SIDE. REAL ESTATE DEVELOPMENT: BUILDS NEW AND REHABS MULTI-FAMILY AND SINGLE FAMILY HOUSING FOR LOW-INCOME RENTERS AND LOW-INCOME HOMEOWNERS. THROUGH NEDA CENTRO DE FINANZAS, LLC, NEDA ORIGINATES HOME REHAB LOANS AND ADVISES ON SUBSEQUENT REHAB CONSTRUCTION FOR ENERGY EFFICIENT UPGRADES AND CODE COMPLIANCE. NEDA CENTRO DE FINANZAS, LLC IS A WHOLLY OWNED SUBSIDIARY OF NEDA AND A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION.
REAL ESTATE OPERATIONS: THE REAL ESTATE OPERATIONS REPRESENT THOSE ACTIVITIES OF WABASHA CENTER, STRYKER SENIOR HOUSING LLC, AND THE TERRACES, LLC. WABASHA CENTER HOUSES NEDA'S OFFICES AND A CHILD CARE CENTER. THE TERRACES, LLC OWNS MCLEAN (24 UNITS) AND WABASHA TERRACE (11 UNITS) APARTMENTS LOCATED IN ST. PAUL, MINNESOTA. STRYKER SENIOR HOUSING STRYKER SENIOR HOUSING LLC IS AN 55+ AFFORDABLE SENIOR HOUSING COMPLEX CONSISTING OF 57 UNITS OF WHICH 75% ARE FOR THOSE EARNING 30% OF AMI AND AN ADDITIONAL 14 UNITS FOR THOSE WITH INCOMES BELOW 60% AMI. STRYKER SENIOR HOUSING BEGAN LEASING IN DECEMBER 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joannette Cintron President | OfficerTrustee | 1 | $0 |
Heidi Welch Vice President | OfficerTrustee | 1 | $0 |
Hokan Miller Treasurer | OfficerTrustee | 1 | $0 |
Sara Udvig Board Member | Trustee | 1 | $0 |
Roger Hamilton Board Member | Trustee | 1 | $0 |
Karen A Reid Executive Director | Officer | 40 | $72,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $377,573 |
| All other contributions, gifts, grants, and similar amounts not included above | $611,334 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $988,907 |
| Total Program Service Revenue | $828,211 |
| Investment income | $36,690 |
| 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 | $1,853,808 |
| 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. | $89,821 |
| Compensation of current officers, directors, key employees. | $17,964 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $422,185 |
| Pension plan accruals and contributions | $10,283 |
| Other employee benefits | $107,424 |
| Payroll taxes | $36,547 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,072 |
| Fees for services: Accounting | $10,044 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,480 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,254 |
| Advertising and promotion | $5,836 |
| Office expenses | $10,968 |
| Information technology | $33,215 |
| Royalties | $0 |
| Occupancy | $60,951 |
| Travel | $1,020 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,152 |
| Interest | $42,326 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $170,729 |
| Insurance | $71,997 |
| All other expenses | $0 |
| Total functional expenses | $1,653,528 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $266,189 |
| Savings and temporary cash investments | $1,460,037 |
| Pledges and grants receivable | $278,398 |
| Accounts receivable, net | $35,719 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $207,618 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $43,291 |
| Net Land, buildings, and equipment | $8,540,943 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $361,127 |
| Intangible assets | $0 |
| Other assets | $498,699 |
| Total assets | $11,692,021 |
| Accounts payable and accrued expenses | $137,002 |
| Grants payable | $0 |
| Deferred revenue | $23,614 |
| 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 | $11,046,958 |
| Unsecured mortgages and notes payable | $212,815 |
| Other liabilities | $70,440 |
| Total liabilities | $11,490,829 |
| Net assets without donor restrictions | -$343,808 |
| Net assets with donor restrictions | $545,000 |
| 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 | $11,692,021 |