NonprofitsNew Development Corporation

Housing & Shelter

New Development Corporation

GRAND RAPIDS, MI

Total revenue

$725K

Total expenses

$619K

Net assets

$137K

Grants received

$77K

6 grants

EIN

383326468

Tax year

2024

Mission

Promote home ownership & affordable housing, alleviate neighborhood blight in targeted low & moderate income area, work with low income individuals to help them obtain and maintain home ownership.

Programs

3 programs

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.

Expenses: $67KGrants: $67K

MI Hope- The MI-HOPE program aims to improve the health and safety of Michigan households by providing funding for repairs and maintenance for single family homes. Included in this program's revenue is $104k for energy-efficiency incentives.

Expenses: $373KGrants: $373K

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.

Expenses: $555

Financials

FY 2024

Revenue

Contributions & grants$126K
Program service revenue$599K
Investment income
Other revenue
Total revenue$725K

Expenses

Grants paid$441K
Salaries & benefits$154K
Fundraising
Other expenses$24K
Total expenses$619K
Total assets$569K
Net assets$137K

People

7 listed

NameRoleCompensation

KATE DORSEY

DIRECTOR

Board

1 hrs/wk

ERIC JOBE

DIRECTOR

Board

1 hrs/wk

AJ FOSSEL

PRESIDENT

Board

2 hrs/wk

REGINA BRADLEY

SECRETARY

Board

2 hrs/wk

CAROL HENNESSEY

TREASURER

Board

2 hrs/wk

SHAQUILLE ANTHONY

VICE PRESIDENT

Board

1 hrs/wk

HELEN LEHMAN

EXECUTIVE DIRECTOR

Staff

$55K

32 hrs/wk

Independent contractors

Rasmussen Exteriors

Exterior home work (both for sale and repairs under MI Hope)

$117K

Grants received

Showing 6 of 6

FromAmountPurposeYear
$10K
General support for programs, operations and other charitable purposes
2023
$25K
See Attached General Explanation
2022
$10K
support for at risk housing assistance
2022
$20K
See Attached General Explanation
2021
$10K
See Attached General Explanation
2020
$2K
GENERAL SUPPORT
2018

Funded by

$77K from 3 funders · 6 grants · 2018–2023

Flagstar Foundation Inc

$55K · 3 grants · 2020–2022

The Chicago Community Trust

$20K · 2 grants · 2022–2023

James And Shirley Balk Foundation

$2K · 1 grant · 2018

Details

EIN383326468
NTEE codeL20
Subsection03
Ruling date1998-01
Formed1996
Employees8
Volunteers27
NEW DEVELOPMENT CORPORATION — Mission, Financials & Grants Received | Grantivo