EIN 34-1653986

New Village Corporation

IRS 501(c) type
501(c)(3)
Num. employees
0
State
Year formed
1990
Most recent tax filings
2023-06-01
NTEE code, primary
Description
New Village Corporation specializes in developing challenging real estate projects in urban environments to stimulate private investment. It operates as a subsidiary of Neighborhood Progress, Inc. and partners with community-based development corporations and private investors to develop catalytic projects. The corporation's mission is to alleviate blight, economic distress, and community deterioration in underserved areas of Cleveland. Currently, NVC is actively involved in several real estate development projects.
Total revenues
$7,203,569
2023
Total expenses
$2,761,252
2023
Total assets
$21,685,616
2023
Num. employees
0
2023

Program areas at New Village Corporation

New Village Corporation ("nvc") focuses its real estate development in places where its activity will relieve blight, economic distress, and community deterioration in the service of underserved communities in the city of cleveland. Nvc is currently involved in an acquisition, rehabilitation, and for-sale single-family housing program with slavic Village development, a 501(c)(3) organization. It is currently working on a strategy to revive the failed New construction market in the buckeye neighborhood of cleveland, where the company owns enough land to facilitate the construction of around 40 New units. Established in 1990, nvc is a wholly-owned real estate development subsidiary of neighborhood progress, inc., a non-profit organization formed to foster communities of choice and opportunity throughout cleveland. Since 1990, nvc has developed over 800 units of New or rehabbed housing and 1.28 million square feet of New or rehabbed commercial space worth over $213 million. Among its completed projects are: the award-winning saint luke's manor phase i and bicentennial Village development north park place dave's supermarket in Ohio city and slavic Village central commons lee-harvard shopping center orchard park fries & schuele apartments carroll avenue condominiums arbor park place shopping center. In august 2022, nvc acquired shaker square in partnership with burten bell carr development, made possible by the city of cleveland providing $12 million in low-interest loans to acquire and support the project.

Who funds New Village Corporation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
George Gund FoundationShaker Square Project.$500,000
Cleveland Neighborhood ProgressShaker Square Marketing, Research & Development$327,000

Personnel at New Village Corporation

NameTitleCompensation
Melodie SandersChief Financial Officer
Edward StockhausenVice President of Advocacy and Public Policy
Colleen GilsonVice President of CDC Advancement
Linda Warren S.Vice President of Placemaking
Justin FlemingDirector of Real Estate Services
...and 19 more key personnel

Financials for New Village Corporation

RevenuesFYE 06/2023
Total grants, contributions, etc.$4,824,280
Program services$405,642
Investment income and dividends$6,843
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$1,966,804
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$0
Total revenues$7,203,569

Form 990s for New Village Corporation

Fiscal year endingDate received by IRSFormPDF link
2023-062024-05-15990View PDF
2022-062023-05-15990View PDF
2021-062022-07-11990View PDF
2020-062021-05-18990View PDF
2019-062021-02-09990View PDF
...and 9 more Form 990s
Data update history
April 27, 2024
Used new vendors
Identified 2 new vendors, including , and
December 23, 2023
Received grants
Identified 1 new grant, including a grant for $500,000 from George Gund Foundation
July 7, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 30, 2023
Updated personnel
Identified 4 new personnel
June 26, 2023
Received grants
Identified 1 new grant, including a grant for $17,450 from Cleveland Neighborhood Progress
Nonprofit Types
Business and community development organizationsReal estate organizationsHeadquarter / parent organizationsCharities
Issues
Community improvementEconomic developmentBusiness and industry
Characteristics
State / local levelManagement and technical assistanceTax deductible donationsNo full-time employeesAccepts online donations
General information
Address
11327 Shaker Blvd 500w
Cleveland, OH 44104
Metro area
Cleveland-Elyria, OH
County
Cuyahoga County, OH
Website URL
clevelandnp.org/ 
Phone
(216) 238-8712
IRS details
EIN
34-1653986
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1990
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S30: Economic Development
NAICS code, primary
5313: Real Estate Services
Parent/child status
Central organization
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