Neighborhood Development Corp
- Assets
- $10.9m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 3
- Location
- Des Moines, IA
- Founding
- 07/2000
- Data as of
- 12/2023
- EIN
- 42-1489223
Organization Overview
Neighborhood Development Corp is located in Des Moines, IA. The organization was established in 2000. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Neighborhood Development Corp employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Development Corp 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 12/2023, Neighborhood Development Corp generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.7% each year . All expenses for the organization totaled $2.7m during the year ending 12/2023. While expenses have increased by 4.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NDC WILL SUSTAINABLY ENHANCE NEIGHBORHOODS BY SERVING AS A CATALYST FOR REDEVELOPMENT EFFORTS THAT FOCUS ON CREATING A MIX OF HOUSING AND COMMERCIAL DEVELOPMENT THROUGH COMMUNITY COLLABORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NDC SUSTAINABLY ENHANCES NEIGHBORHOODS BY SERVING AS A CATALYST FOR REDEVELOPMENT EFFORTS THAT FOCUS ON CREATING A MIX OF HOUSING AND COMMERCIAL DEVELOPMENT THROUGH COMMUNITY COLLABORATION.NEIGHBORHOOD DEVELOPMENT CORPORATION FOCUSES ON THREE ESSENTIAL CORE VALUES WHEN DECIDING ON THE DIRECTION WE WILL TAKE MOVING FORWARD WITH ANY PROJECT: COLLABORATION, REVITALIZATION AND CATALYZATION. IT IS IMPERATIVE WE FOLLOW THESE CORE VALUES BECAUSE WITHOUT THEM WE CANNOT FULFILL OUR TRUE POTENTIAL AS AN ORGANIZATION AND ACHIEVE WHAT WE CALL, THE NDC EFFECT. DEVELOPING PROPERTY WITH OUR METHODOLOGY IGNITES THE PROSPERITY AND VALUE COMMUNITIES NEED TO GROW INTO THE FUTURE.WE LEVERAGE OUR EXPERIENCE, PROFESSIONALISM AND KEY PARTNERSHIPS WITH GOVERNMENT, GENERAL CONTRACTORS AND CITY PLANNERS IN THE INDUSTRY TO PROVIDE INNOVATIVE SOLUTIONS TO UNDERSERVED COMMUNITIES.IN 2023, THE ORGANIZATION INVESTED $2.5 MILLION DOLLARS THAT WILL RESULT IN $46 MILLION WORTH OF COMMERCIAL REDEVELOPMENT IN DES MOINES NEIGHBORHOODS. THIS WILL PROVIDE UNDERSERVED AREAS WITH ATTAINABLE HOUSING AND COMMERCIAL SERVICES THAT DO NOT EXIST TODAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jake Lundgren President | OfficerTrustee | 1 | $0 |
Holly Olson Vice President | OfficerTrustee | 1 | $0 |
Bret Vandelune Past President | Trustee | 1 | $0 |
Whitney Baethke Director | OfficerTrustee | 1 | $0 |
Bill Gray Community Leader | Trustee | 1 | $0 |
Mel Pins Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Estes Construction General Contractor | 12/30/18 | $345,626 |
Blue Ribbon Builders Llc General Contractor | 12/30/18 | $243,575 |
Tesdell Electric Ltd General Contractor | 12/30/18 | $187,117 |
Ramms Construction Llc General Contractor | 12/30/18 | $177,278 |
Pic Inc General Contractor | 12/30/18 | $145,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,406,041 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,406,041 |
| Total Program Service Revenue | $16,740 |
| Investment income | $1,103 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$98,792 |
| 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 | $5,325,092 |
| 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. | $290,248 |
| Compensation of current officers, directors, key employees. | $145,775 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,189 |
| Pension plan accruals and contributions | $9,817 |
| Other employee benefits | $3,900 |
| Payroll taxes | $26,502 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,140 |
| Fees for services: Accounting | $41,860 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,489 |
| Office expenses | $31,708 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $146,704 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,061 |
| Insurance | $51,498 |
| All other expenses | $4,296 |
| Total functional expenses | $2,689,025 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,573,810 |
| Savings and temporary cash investments | $251,102 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $489,518 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,748,560 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,540 |
| Other assets | $5,794,653 |
| Total assets | $10,862,183 |
| Accounts payable and accrued expenses | $864,725 |
| 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 | $4,594,373 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,603 |
| Total liabilities | $5,476,701 |
| Net assets without donor restrictions | $732,525 |
| Net assets with donor restrictions | $4,652,957 |
| 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 | $10,862,183 |