Neighborhood Development Corporation
- Assets
- $968.8k
- Revenue
- -$46.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Tupelo, MS
- Founding
- 12/1999
- Data as of
- 12/2023
- EIN
- 64-0894608
Organization Overview
Neighborhood Development Corporation, operating under the name Neighborhood Development Corporatio, is located in Tupelo, MS. The organization was established in 1999. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Development Corporatio is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NEIGHBORHOOD DEVELOPMENT CORPORATION (NDC) IS A NON-PROFIT, TAX EXEMPT, HOUSING ORGANIZATION CREATED TO PROMOTE THE REDEVELOPMENT OF DETERIORATING NEIGHBORHOODS IN TUPELO AND THROUGHOUT LEE COUNTY, FOCUSING ON EDUCATION, ASSISTANCE, AND REVITALIZATION. NDCS NUMEROUS PROGRAMS AND SERVICES ARE CHANGING LIVES AND NEIGHBORHOODS, DEVELOPING RESIDENTIAL LEADERSHIP, INCREASING HOME OWNERSHIP FOR LOW AND MODERATE INCOME FAMILIES, AND BUILDING COMMUNITY. GOVERNED BY A LOCAL BOARD OF DIRECTORS, NDC IS PARTNERING WITH LOCAL, STATE, AND NATIONAL AGENCIES AND ORGANIZATIONS, AS WELL AS PRIVATE DEVELOPERS, TO PROMOTE REDEVELOPMENT EFFORTS IN NEIGHBORHOODS. CERTIFIED AS A COMMUNITY DEVELOPMENT HOUSING ORGANIZATION (CHDO) BY THE MISSISSIPPI DEVELOPMENT AUTHORITY, AND PENDING APPROVAL AS A NEIGHBORWORKS NETWORK BY NEIGHBORWORKSAMERICA, NDC IS POSITIONED TO BE A STRONG CATALYST IN THE PROVISION OF AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PARTICIPATES IN A VARIETY OF NEIGHBORHOOD REVITALIZATION EFFORTS, INCLUDING SPONSORING HOMEBUYER EDUCATION AND FINANCIAL MANAGEMENT CLASSES AND WORKS IN PARTNERSHIP WITH LOCAL NEIGHBORHOOD ASSOCIATIONS IN ORDER TO PROMOTE HEALTHY COMMUNITIES THROUGH THE NEIGHBORWORKS SYSTEM. IN ADDITION TO THE FOREGOING, THE CITY OF TUPELO NAMED THE ORGANIZATION AS GRANTEE IN THE NEIGHBORHOOD REVITALIZATION PROJECT ON WEST JACKSON STREET IN TUPELO, MISSISSIPPI AND THE ORGANIZATION ACQUIRED AND DEMOLISHED DISTRESSED PROPERTIES AND IS SELLING, AT LOW COST, THE CLEARED LOTS TO LOCAL DEVELOPERS TO CONSTRUCT LOW AND MODERATE INCOME PROPERTIES IN THESE AREAS. IN ADDITION, THE ORGANIZATION IS ALSO CONSTRUCTING HOUSING ON REAL ESTATE OWNED BY THE ORGANIZATION FOR THAT SAME PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard E Alvarez Treasurer | Trustee | $0 | |
Larry Coggin Director | Trustee | $0 | |
Traci Davis Director | Trustee | $0 | |
Pat Falkner Director | Trustee | $0 | |
Louis C Marascalco III Director | Trustee | $0 | |
Jeff King Director | Trustee | $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 | $16,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,000 |
| Total Program Service Revenue | $0 |
| Investment income | $221 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$62,341 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$46,120 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,619 |
| Fees for services: Accounting | $1,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $27 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,028 |
| All other expenses | $0 |
| Total functional expenses | $19,771 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,953 |
| Savings and temporary cash investments | $121,858 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $14,400 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $802,544 |
| Total assets | $968,755 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $968,755 |
| 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 | $968,755 |
Grants Awarded
Over the last fiscal year, Neighborhood Development Corporation has awarded $51,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HABITAT FOR HUMANITY PURPOSE: TO TRANSFER LOTS | $16,000 |
HABITAT FOR HUMANITY PURPOSE: TO ASSIST | $35,000 |