New Level Community Development Corporation
- Assets
- $8.2m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 4
- Location
- Nashville, TN
- Founding
- 02/2003
- Data as of
- 12/2023
- EIN
- 62-1873654
Organization Overview
New Level Community Development Corporation is located in Nashville, TN. The organization was established in 2003. 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 12/2023, New Level Community Development Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Level 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 12/2023, New Level Community Development Corporation generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 20.9% each year . All expenses for the organization totaled $748.3k during the year ending 12/2023. While expenses have increased by 10.1% per year over the past 9 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
NEW LEVEL COMMUNITY DEVELOPMENT CORPORATION ADVOCATES FOR LOW-TO-MODERATE INCOME COMMUNITY BY WORKING WITH LEGISLATORS, OTHER NON-PROFITS, AND PRIVATE DEVELOPERS TO CREATE MORE AFFORDABLE HOMES IN NASHVILLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AFFORDABLE HOUSING PROGRAM WORKS WITH COMMUNITY PARTNERS TO PROVIDE HOMES FOR PEOPLE WITH LOW TO MODERATE INCOMES IN NEED OF AFFORDABLE HOUSING. PROGRAMS INCLUDE HOME OWNERSHIP WITH DOWN PAYMENT ASSISTANCE AND AFFORDABLE RENTAL UNITS. THE CORPORATION USES OFFICE SPACE DONATED BY MT ZION BAPTIST CHURCH, WHICH HAS BEEN RECORDED AS AN IN-KIND DONATION. THE RECORDED FAIR MARKET VALUE OF THE PORTION OF THIS DONATION RELATED TO AFFORDABLE AND RENTAL HOUSING IS $2,716.
HOME BUYER EDUCATION IS A 1 DAY, 6 HOUR COURSE OFFERED ONCE PER MONTH FROM JANUARY THROUGH OCTOBER, AND IS TAUGHT BY TRAINED CERTIFIED INSTRUCTORS. THEY ALSO PROVIDE A 1 HOUR PRIVATE CONSULTATION. THE CURRICULUM USED IS PROVIDED BY NEIGHBOR WORKS AMERICA. IN ADDITION, HOUSING COUNSELING IS PROVIDED AS NEEDED TO ASSIST INDIVIDUALS.
FINANCIAL EDUCATION IS PROVIDED THROUGH INDIVIDUAL COACHING SESSIONS. SOME INDIVIDUALS WHO COMPLETE THE REQUIRED 10 HOURS OF FINANCIAL EDUCATION COURSE WORK AND MEET ELIGIBILITY REQUIREMENTS ENTER INTO A MATCHING SAVINGS PROGRAM TO HELP THEM ESTABLISH SAVINGS HABITS AND BEGIN TO BUILD ASSETS. ONCE THEY REACH THEIR SAVINGS GOAL, THEY MAY RECEIVE MATCH DOLLARS TO HELP THEM PURCHASE A HOME, START A SMALL BUSINESS, OR CONTINUE THEIR POST SECONDARY EDUCATION. THE CORPORATION USES OFFICE SPACE DONATED BY MT ZION BAPTIST CHURCH, WHICH HAS BEEN RECORDED AS AN IN-KIND DONATION. THE RECORDED FAIR MARKET VALUE OF THE PORTION OF THIS DONATION RELATED TO FINANCIAL EDUCATION IS $27,158.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Skipper Executive Director | OfficerTrustee | 50 | $99,000 |
Barry Greer Director | Trustee | 1 | $0 |
Brian Bradshaw Director | Trustee | 1 | $0 |
Shannon Fitzpatric Director | Trustee | 1 | $0 |
Luis Parodi Director | Trustee | 1 | $0 |
Michael Lummus Director | Trustee | 1 | $0 |
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 | $90,732 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $90,732 |
| Total Program Service Revenue | $2,244,802 |
| Investment income | $12,132 |
| 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 | $2,391,681 |
| 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. | $99,000 |
| Compensation of current officers, directors, key employees. | $49,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $194,664 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $34,629 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,796 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,106 |
| Advertising and promotion | $0 |
| Office expenses | $13,585 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,236 |
| Travel | $5,874 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,529 |
| Insurance | $46,316 |
| All other expenses | $35,653 |
| Total functional expenses | $748,253 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,888,602 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $53,860 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $169,700 |
| Inventories for sale or use | $4,526,829 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,590,345 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,229,336 |
| Accounts payable and accrued expenses | $386,687 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $1,146,667 |
| Other liabilities | $53,862 |
| Total liabilities | $1,587,216 |
| Net assets without donor restrictions | $6,642,120 |
| Net assets with donor restrictions | $0 |
| 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 | $8,229,336 |