Neighborhood Development Center Inc
- Assets
- $31.6m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 53
- Location
- Saint Paul, MN
- Founding
- 05/1993
- Data as of
- 12/2021
- EIN
- 41-1738791
Organization Overview
Neighborhood Development Center Inc is located in Saint Paul, MN. The organization was established in 1993. According to its NTEE Classification (P21) the organization is classified as: American Red Cross, under the broad grouping of Human Services and related organizations. As of 12/2021, Neighborhood Development Center Inc employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Development Center 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 12/2021, Neighborhood Development Center Inc generated $8.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $6.9m during the year ending 12/2021. While expenses have increased by 11.8% per year over the past 7 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.
Since 2020, Neighborhood Development Center Inc has awarded 315 individual grants totaling $3,519,687. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
NDC'S MISSION STATEMENT IS TO EMPOWER ENTREPRENEURS AND COMMUNITY PARTNERS TO TRANSFORM LOW-INCOME NEIGHBORHOOD ECONOMIES FROM WITHIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REAL ESTATE DEVELOPMENT INITIATIVE PROGRAM - ENCOURAGES NEIGHBORHOOD REVITALIZATION, PROPERTY OWNERSHIP, AND BUSINESS OWNERSHIP BY ENTREPRENEURS WITHIN SPECIFIC PRIORITY LOW-INCOME NEIGHBORHOODS.
LENDING AND FINANCING PROGRAM - PROVIDES FUNDS TO START-UP AND EXISTING BUSINESSES. IN 2021, NDC HAD A $10 MILLION DOLLAR REVOLVING LOAN FUND. LOANS WERE PROVIDED TO BUSINESSES THAT MET CERTAIN GEOGRAPHICAL AND INCOME CRITERIA. A PORTION OF AVAILABLE FUNDS WAS USED FOR ISLAMICALLY ACCEPTABLE FINANCING. NDC APPROVED 26 LOANS IN 2021, TOTALING $2,736,975, IN PRIORITY AND OTHER NEIGHBORHOODS, AS FOLLOWS: 10 SMALL BUSINESS LOANS (LARGER THAN $50K) 16 MICROLOANS ($50K OR LESS)IN ADDITION, NDC PROCESSED 62 PAYCHECK PROTECTION PROGRAM (PPP) LOANS, TOTALING $2,024,649, AND PRESERVING 357 JOBS.ALSO, THE LENDING DEPARTMENT ADMINISTERED TWO GRANT PROGRAMS IN 2021 THE NDC EMERGENCY GRANTS PROGRAM, WHERE 54 BUSINESSES RECEIVED GRANTS TOTALING $144,500. THE MAIN STREET COVID RELIEF GRANTS PROGRAM, WHERE 58 BUSINESSES RECEIVED $10K TO $15K GRANTS TOTALING $625,000. * 28 NDC LOANS (19) AND GRANTS (9) TOTALING $1,098,000
TECHNICAL ASSISTANCE PROGRAM - SUPPORTS THE GROWTH OF NEW AND EXISTING BUSINESSES IN THE COMMUNITY. IN 2021, NDC PROVIDED 4,836 HOURS OF BUSINESS SERVICES TO 318 BUSINESSES IN ITS PRIORITY AND OTHER NEIGHBORHOODS.
ENTREPRENEUR TRAINING PROGRAM - OFFERS WEEKLY SESSIONS WHICH TRAIN PARTICIPANTS TO OWN AND OPERATE THEIR OWN BUSINESSES. BY THE END OF THE TRAINING SESSION, PARTICIPANTS WILL HAVE DEVELOPED A BUSINESS PLAN AND HAVE HAD INDIVIDUAL SESSIONS WITH A PROFESSIONAL TRAINING CONSULTANT. NDC WORKS WITH NEIGHBORHOOD PARTNERS TO ENHANCE THEIR CAPACITY TO CREATE AND CONDUCT ECONOMIC DEVELOPMENT INITIATIVES WITHIN THEIR OWN COMMUNITIES. IN 2021, NDC AND ITS NEIGHBORHOOD PARTNERS OFFERED 14 ENTREPRENEUR TRAINING CLASSES TO 151 ENROLLED ASPIRING ENTREPRENEURS FROM VARIOUS ETHNIC GROUPS AND NEIGHBORHOODS. IN ADDITION, ASPIRING ENTREPRENEURS RECEIVED 564 HOURS OF ONE-ON-ONE TRAINING CONSULTATIONS. DURING THE SAME YEAR, NDC ALSO OFFERED 41 BUSINESS-RELATED WORKSHOPS TO 279 ENTREPRENEURS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Renay Dossman Executive Director | Officer | 40 | $198,830 |
Mihailo Temali CEO | Officer | 40 | $194,454 |
Kathy Moriarty Chief Administrative Officer | 40 | $106,605 | |
Lachelle Cunningham Chair | OfficerTrustee | 1 | $0 |
Terri Fleming Vice Chair | OfficerTrustee | 1 | $0 |
Mike Mckee Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $68,410 |
| Related organizations | $0 |
| Government grants | $4,116,926 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,759,631 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,944,967 |
| Total Program Service Revenue | $1,234,486 |
| Investment income | $688 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$1,915 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$12,189 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,166,037 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,591,012 |
| 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. | $569,674 |
| Compensation of current officers, directors, key employees. | $257,393 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,979,369 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $404,948 |
| Payroll taxes | $178,287 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,593 |
| Fees for services: Accounting | $25,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $649,769 |
| Advertising and promotion | $0 |
| Office expenses | $399,058 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $119,737 |
| Travel | $13,264 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,271 |
| Interest | $132,832 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $63,080 |
| Insurance | $31,947 |
| All other expenses | $8,958 |
| Total functional expenses | $6,906,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,280,929 |
| Savings and temporary cash investments | $6,438,573 |
| Pledges and grants receivable | $1,832,790 |
| Accounts receivable, net | $556,118 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,370,254 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $57,366 |
| Net Land, buildings, and equipment | $2,069,873 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $31,605,903 |
| Accounts payable and accrued expenses | $1,183,556 |
| Grants payable | $0 |
| Deferred revenue | $54,824 |
| 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 | $12,642,993 |
| Unsecured mortgages and notes payable | $293,293 |
| Other liabilities | $67,015 |
| Total liabilities | $14,241,681 |
| Net assets without donor restrictions | $10,977,451 |
| Net assets with donor restrictions | $6,386,771 |
| 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 | $31,605,903 |
Grants Awarded
Over the last fiscal year, Neighborhood Development Center Inc has awarded $961,187 in support to 86 organizations.
| Grant Recipient | Amount |
|---|---|
EAST SIDE NEIGHBORHOOD DEVELOPMENT CO PURPOSE: GRANT DOLLARS TO SUPPORT EAST SIDE OF ST. PAUL -US BANK FOUNDATION GRANT | $67,500 |
URBAN 29 LLC PURPOSE: GRANT DISB. - REBUILDING FOR THE FUTURE | $25,000 |
BORROWER - BAKED LLC DBA THE KITCHEN PURPOSE: UNITED WAY GRANT TO ASSIST WITH FINAL BUDGET EXPENSES | $25,000 |
SCHREIBER MULLANEY CONSTR CO INC PURPOSE: MAINSTREET RELIEF GRANT BATCH #1 | $15,000 |
SHUANG CHENG RESTAURANT PURPOSE: MAINSTREET RELIEF GRANT BATCH #1 | $15,000 |
LONG CHENG MEATS PURPOSE: MAINSTREET RELIEF GRANT BATCH #1 | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 29 grants that Neighborhood Development Center Inc has recieved totaling $3,021,997.
| Awarding Organization | Amount |
|---|---|
Otto Bremer Trust St Paul, MN PURPOSE: CBFC EMERGENCY FUND | $750,000 |
Otto Bremer Trust St Paul, MN PURPOSE: COVID-19 RECOVERY FOR NEIGHBORHOOD SMALL BUSINESSES | $500,000 |
Impactassets Inc Bethesda, MD PURPOSE: TO SUPPORT THE BUILDING FROM WITHIN ALLIANCE | $188,400 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR GENERAL OPERATING SUPPORT | $175,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR GENERAL OPERATING SUPPORT | $175,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR GENERAL OPERATING SUPPORT | $175,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dow Rummel Village Sioux Falls, SD | $76,421,386 | $18,523,416 |
Montgomery Place Chicago, IL | $31,885,880 | $16,111,662 |
Region 3b Area Agency On Aging Battle Creek, MI | $12,282,051 | $21,229,876 |
Human Resources Development Institute Inc Chicago, IL | $14,371,854 | $24,270,043 |
Martin Health Center Inc Cedar Falls, IA | $21,811,733 | $19,618,814 |
Bishop Spencer Place Inc Kansas City, MO | $31,543,334 | $13,908,229 |
Wayzata Bay Senior Housing Inc Roseville, MN | $167,500,836 | $19,706,381 |
Evergreen Retirement Community Inc Oshkosh, WI | $46,606,171 | $19,424,837 |
Jewish Community Center St Louis, MO | $73,670,376 | $21,790,226 |
Catholic Charities Of The Diocese Of St Cloud St Cloud, MN | $15,523,133 | $20,074,695 |
Valley Area Agency On Aging Flint, MI | $15,690,297 | $21,105,409 |
Apostolic Christian Lifepoints Inc Morton, IL | $42,471,151 | $22,063,470 |