EIN 83-1107639

New Hill Development Corporation

IRS 501(c) type
501(c)(3)
Num. employees
0
Year formed
2018
Most recent tax filings
2022-12-01
Description
New Hill DC advances economic opportunities, wealth building, and home ownership for Charlottesville's black community through coaching, entrepreneurial support, and asset development.
Total revenues
$455,152
2022
Total expenses
$457,052
2022
Total assets
$87,250
2022
Num. employees
0
2022

Program areas at New Hill Development Corporation

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.
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.
In 2022 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.

Who funds New Hill Development Corporation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Fidelity Investments Charitable Gift FundFor Grant Recipient's Exempt Purposes$50,500
Fulton Forward FoundationBuilding A Firm Foundation: Financial Capability Programming in Charlottesville Va Through New Hill Development Corporation$50,000
Truist FoundationGeneral Operating$50,000
...and 5 more grants received

Personnel at New Hill Development Corporation

NameTitleCompensation
Yolunda HarrellPresident and Chief Executive Officer$30,875
Caruso BrownInterim Chair / Treasurer$0
Shawn McGowenTreasurer / Director$0
Karen KlickVice Chair / Director$0
Ramona ChapmanSecretary / Director$0
...and 1 more key personnel

Financials for New Hill Development Corporation

RevenuesFYE 12/2022
Total grants, contributions, etc.$316,559
Program services$47,988
Investment income and dividends$0
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$21,605
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$69,000
Total revenues$455,152

Form 990s for New Hill Development Corporation

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-15990View PDF
2021-122022-11-15990View PDF
2020-122021-11-11990View PDF
2019-122021-04-06990View PDF
Data update history
July 10, 2024
Received grants
Identified 3 new grant, including a grant for $50,000 from Fulton Forward Foundation
January 19, 2024
Posted financials
Added Form 990 for fiscal year 2022
December 26, 2023
Received grants
Identified 3 new grant, including a grant for $50,000 from Truist Foundation
July 29, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 6, 2023
Updated personnel
Identified 4 new personnel
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsCharities
Issues
Human servicesCommunity improvementAfrican Americans
Characteristics
State / local levelReceives government fundingTax deductible donationsNo full-time employeesAccepts online donations
General information
Address
401 E Market St Suite 14
Charlottesville, VA 22902
Metro area
Charlottesville, VA
County
Charlottesville city, VA
Website URL
newhilldev.org/ 
Phone
(434) 465-9164
IRS details
EIN
83-1107639
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2018
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S20: Community, Neighborhood Development, Improvement
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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