New Hill Development Corporation

Organization Overview

New Hill Development Corporation is located in Charlottesville, VA. The organization was established in 2018. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hill 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 12/2021, New Hill Development Corporation generated $247.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (25.3%) each year. All expenses for the organization totaled $266.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (19.5%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO EXPAND ECONOMIC OPPORTUNITIES TO GROW WEALTH AND HOME OWNERSHIP IN THE CHARLOTTESVILLE BLACK COMMUNITY THROUGH FINANCIAL COACHING, ENTREPRENEURIAL SUPPORT, ECONOMIC DEVELOPMENT AND ASSET BUILDING.

Describe the Organization's Program Activity:

Part 3 - Line 4a

IN 2021 THE FINANCIAL CAPABILITY PROGRAM SERVED 360 CLIENTS WITH 1,832 FINANCIAL EMPOWERMENT SERVICES, TO INCLUDE CREDIT MONEY MANAGEMENT AND FIRST TIME HOMEBUYER WORKSHOPS. MAINTAINED 49 CLIENTS IN ACTIVE FINANCIAL COACHING THROUGHOUT THE YEAR. OF THE 94 CLIENTS THAT HAD BOTH AN AT-ENTRY AND A SECONDARY FINANCIAL SNAPSHOT, 74% IMPROVED THEIR CREDIT SCORE. THE AVERAGE FICO SCORE INCREASE WAS 15 POINTS FOR PARTICIPANTS; 34% ACHIEVED A CREDIT SCORE ABOVE PRIME (FICO SCORE OF 660 OR ABOVE). THE PROGRAM HAS RESULTED IN ALMOST $3 MILLION IN TOTAL MORTGAGES SOUGHT FOR HOMES IN THE CHARLOTTESVILLE AREA.


EARLY IN 2021 ASSUMED MANAGEMENT AND OVERSIGHT OF THE COMMUNITY KITCHEN PROGRAM, FORMERLY FRONTLINE FOODS. THE PROGRAM PROVIDES FOOD ASSISTANCE FOR THE COMMUNITY WHILST SIMULTANEOUSLY OFFERING FINANCIAL SUPPORT TO RESTAURANTS OWNED BY PEOPLE OF COLOR. RECEIVED UNANIMOUS APPROVAL FROM CHARLOTTESVILLE CITY PLANNERS AND CITY COUNCIL TO APPEND TO THE CITY'S COMPREHENSIVE PLAN, THE ORGANIZATION'S STARR HILL VISION PLAN, A ROADMAP FOR ADVANCING ECONOMIC JUSTICE IN CHARLOTTESVILLE, DEVELOPED WITH THE ENGAGEMENT OF MORE THAN 200 AREA RESIDENTS AND MERCHANTS OF THE BLACK COMMUNITY. ESTABLISHED RESTAURANT REVITALIZATION FUND IN PARTNERSHIP WITH SMALL BUSINESS ADMINISTRATION.


AWARDED A $150,000 GRANT FROM THE GOVERNOR'S OFFICE THROUGH THE BUSINESS RESURGENCE INITIATIVE AIMED AT REVITALIZING BUSINESS DISTRICTS IN RESPONSE TO THE EFFECTS OF THE PANDEMIC.LAUNCHED FIRST PHASE OF THE BLACK ENTREPRENEURIAL ADVANCEMENT AND COMMUNITY OPPORTUNITY NETWORK (BEACON) PROGRAM, A BUSINESS INCUBATOR THAT STRIVES TO ADVANCE OPPORTUNITIES AND PROVIDE RESOURCES FOR BLACK ENTREPRENEURS IN CHARLOTTESVILLE SEEKING TO LAUNCH OR SCALE THEIR BUSINESSES. BEGAN WORK ON CREATING THE CURRICULUM FOR THE FOOD BUSINESS BOOTCAMP TO INCLUDE AN ONLINE LEARNING PLATFORM ON THINKIFIC. BOOTCAMPS WILL BEGIN NEXT YEAR.


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Board, Officers & Key Employees

Name (title)Compensation
Yolunda Harrell
President & CEO
$17,000
Anne Brown
Secretary
$0
Melvin Burruss
Chair
$0
Karen Klick
Vice Chair
$0
Caruso Brown
Treasurer
$0
Elizabeth Kennan
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $50,000
All other contributions, gifts, grants, and similar amounts not included above$196,970
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$246,970
Total Program Service Revenue$0
Investment income $0
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 $246,970

Grants Recieved

Over the last fiscal year, we have identified 6 grants that New Hill Development Corporation has recieved totaling $127,527.

Awarding OrganizationAmount
Charlottesville Area Community Foundation

Charlottesville, VA

PURPOSE: COMMUNITY KITCHEN MEAL PROGRAM, AND FOR HIRING A PROJECT MANAGER TO ADVANCE A COMMUNITY GROCERY STORE COOPERATIVE

$100,000
Charlottesville Area Community Foundation

Charlottesville, VA

PURPOSE: 2021 ENRICHING COMMUNITIES GRANT

$10,000
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: OPERATIONAL SUPPORT

$10,000
Charlottesville Area Community Foundation

Charlottesville, VA

PURPOSE: BAMAWORKS 2021 GRANT

$7,000
Trent Family Foundation

Charlotte, NC

PURPOSE: GENERAL OPERATIONS

$500
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$27
View Grant Recipient Profile

Peer Organizations

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