Program areas at New Development Corporation
Rehabilitation of dilapidated homes to bring to city code. Price and sell home to income-qualified buyers. The homes are returned to private ownership and occupied by qualified owners. The city tax base is increased by rising home value as well as an increase in value of surrounding properties. Homes are affordably priced at market value allowing low/moderate individuals to acquire stable, quality housing. One home sold during 2023.
Tax preparation program- assist low/moderate income tax filers complete and file income tax returns. Help individuals benefit from the Michigan homestead property tax credit. This program returns dollars to the community to assist with home ownership and maintenance.
Nep project- neighborhood enhancement program awards small grants to income-eligible homeowners for "curb appeal" repairs to their homes. This program is funded through mshda.
Who funds New Development Corporation
Grants from foundations and other nonprofits
| Grantmaker | Grantmaker tax period | Description | Amount |
|---|
| Flagstar Foundation | 2022-12 | See Attached General Explanation | $25,000 |
Personnel at New Development Corporation
| Name | Title | Compensation | Date of data |
|---|
| Helen Lehman | Executive Director | $58,615 | 2024-08-10 |
| Alma Jean Fossel | Board President | | 2024-05-22 |
| Aj Fossel | President | $0 | 2023-12-31 |
| Regina Bradley | Secretary | $0 | 2023-12-31 |
| Carol Hennessey | Treasurer | $0 | 2023-12-31 |
| ...and 1 more key personnel |
Financials for New Development Corporation
| Revenues | FYE 12/2023 | FYE 12/2022 | % Change |
|---|
| Total grants, contributions, etc. | $123,270 | $99,717 | 23.6% |
| Program services | $211,123 | $119,488 | 76.7% |
| Investment income and dividends | $2 | $3 | -33.3% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $0 | $0 | - |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $334,395 | $219,208 | 52.5% |
Organizations like New Development Corporation
| Organization | Type | Location | Revenue |
|---|
| Lowell Community Development Corporation | 501(c)(3) | Fresno, CA | $1,090,500 |
| Frayser Community Development Corporation | 501(c)(3) | Memphis, TN | $1,364,611 |
| Danville Neighborhood Development Corporation | 501(c)(3) | Danville, VA | $368,572 |
| Summit Hill Community Development Corporation | 501(c)(3) | Bloomington, IN | $1,030,154 |
| Mount Pleasant Now Development Corpation | 501(c)(3) | Cleveland, OH | $483,363 |
| Grandmont Rosedale Development Corporation | 501(c)(3) | Detroit, MI | $876,933 |
| Row House Community Development Corporation | 501(c)(3) | Houston, TX | $452,061 |
| Charleston Area Community Development Ment Corporation | 501(c)(3) | Charleston, SC | $401,399 |
| Bethursday Development Corporation | 501(c)(3) | Atlanta, GA | $198,551 |
| Desales Community Development | 501(c)(3) | Saint Louis, MO | $1,657,631 |
Data update history
December 26, 2023
Received grants
Identified 1 new grant, including a grant for $25,000 from Flagstar Foundation August 23, 2023
Posted financials
Added Form 990 for fiscal year 2022
August 19, 2023
Updated personnel
Identified 2 new personnel
August 19, 2023
Used new vendors
Identified 1 new vendor, including
August 9, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsHousing and shelter organizationsCharities
Issues
Human servicesHousing
Characteristics
Partially liquidatedState / local levelReceives government fundingTax deductible donationsAccepts online donations
General information
- Address
- 205 Carrier St Ne
- Grand Rapids, MI 49505
- Metro area
- Grand Rapids-Kentwood, MI
- County
- Kent County, MI
- Website URL
- newdevelopmentcorp.org/Â
- Phone
- (616) 361-7500
IRS details
- EIN
- 38-3326468
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 1996
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- L25: Housing Rehabilitation
- NAICS code, primary
- 926110: Economic Development Corporations and Economic Program Organizations
- Parent/child status
- Independent
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