2024-09-13T20:39:07-05:00 2023-12-31 261600907 ROOF GERDES ERLBACHER PLC 2721 SW 30TH ST DES MOINES IA 50321 990 2023-01-01 421489223 NEIGHBORHOOD DEVELOPMENT CORPORATION NEIG 5152448600 2331 UNIVERSITY AVENUE STE 202 DES MOINES IA 50311 ABBEY GILROY EXECUTIVE DIRECTOR 5152448600 2024-08-26 1 0 RYAN ROOF P00810965 5153625672 2023 2024-08-08 14:25:15Z ABBEY GILROY 2331 UNIVERSITY AVENUE STE 202 DES MOINES IA 50311 5818089 0 X NDCDSM.ORG X 1999 IA NDC WILL SUSTAINABLY ENHANCE NEIGHBORHOODS BY SERVING AS A CATALYST FOR REDEVELOPMENT EFFORTS THAT FOCUS ON CREATING A MIX OF HOUSING AND COMMERCIAL DEVELOPMENT THROUGH COMMUNITY COLLABORATION. 10 10 3 0 0 0 1306468 5406041 502103 16740 0 1103 38350 -98792 1846921 5325092 36823 0 0 0 340044 404656 0 0 0 1091998 2284369 1468865 2689025 378056 2636067 8334749 10862183 5955334 5476701 2379415 5385482 X TO ENHANCE NEIGHBORHOODS AND COMBAT COMMUNITY DETERIORATION THROUGH REDEVELOPMENT EFFORTS SPECIFICALLY DESIGNED TO CREATE HOUSING, SMALL BUSINESS, AND JOB CREATION OPPORTUNITIES FOR RESIDENTS OF POLK COUNTY, IOWA. 0 0 2421524 -80949 NDC SUSTAINABLY ENHANCES NEIGHBORHOODS BY SERVING AS A CATALYST FOR REDEVELOPMENT EFFORTS THAT FOCUS ON CREATING A MIX OF HOUSING AND COMMERCIAL DEVELOPMENT THROUGH COMMUNITY COLLABORATION.NEIGHBORHOOD DEVELOPMENT CORPORATION FOCUSES ON THREE ESSENTIAL CORE VALUES WHEN DECIDING ON THE DIRECTION WE WILL TAKE MOVING FORWARD WITH ANY PROJECT: COLLABORATION, REVITALIZATION AND CATALYZATION. IT IS IMPERATIVE WE FOLLOW THESE CORE VALUES BECAUSE WITHOUT THEM WE CANNOT FULFILL OUR TRUE POTENTIAL AS AN ORGANIZATION AND ACHIEVE WHAT WE CALL, THE NDC EFFECT. DEVELOPING PROPERTY WITH OUR METHODOLOGY IGNITES THE PROSPERITY AND VALUE COMMUNITIES NEED TO GROW INTO THE FUTURE.WE LEVERAGE OUR EXPERIENCE, PROFESSIONALISM AND KEY PARTNERSHIPS WITH GOVERNMENT, GENERAL CONTRACTORS AND CITY PLANNERS IN THE INDUSTRY TO PROVIDE INNOVATIVE SOLUTIONS TO UNDERSERVED COMMUNITIES.IN 2023, THE ORGANIZATION INVESTED $2.5 MILLION DOLLARS THAT WILL RESULT IN $46 MILLION WORTH OF COMMERCIAL REDEVELOPMENT IN DES MOINES NEIGHBORHOODS. THIS WILL PROVIDE UNDERSERVED AREAS WITH ATTAINABLE HOUSING AND COMMERCIAL SERVICES THAT DO NOT EXIST TODAY. 2421524 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 8 0 1 3 1 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X RYAN ROOF 5153625672 2721 SW 30TH ST DES MOINES IA 50321 JAKE LUNDGREN PRESIDENT 1.00 X X 0 0 0 HOLLY OLSON VICE PRESIDENT 1.00 X X 0 0 0 BRET VANDELUNE PAST PRESIDENT 1.00 X 0 0 0 WHITNEY BAETHKE DIRECTOR 1.00 X X 0 0 0 BILL GRAY COMMUNITY LEADER 1.00 X 0 0 0 MEL PINS DIRECTOR 1.00 X 0 0 0 ANNA SQUIRE SECRETARY 1.00 X 0 0 0 MIKE LUDWIG DIRECTOR 1.00 X X 0 0 0 CARL VOSS TREASURER 1.00 X 0 0 0 STEPHANIE MURPHY DIRECTOR 1.00 X 0 0 0 ABBEY GILROY EXECUTIVE DIRECTOR 40.00 X 160849 0 0 SADIE TRYTTEN DIRECTOR OF REAL ESTATE 40.00 X 129399 0 0 290248 0 0 2 0 1 0 0 5406041 5406041 DEVELOPMENT FEE INCOME 531390 16740 16740 16740 1103 1103 394205 492997 -98792 -98792 -98792 5325092 -80949 0 0 290248 144473 145775 74189 74189 9817 5890 3927 3900 2340 1560 26502 15901 10601 4140 4140 41860 4600 37260 4489 4489 31708 9973 21735 146704 146704 12061 11588 473 51498 22704 28794 GAP FINANCING 1849446 1849446 PROPERTY TAXES 91393 91393 LOSS ON INVESTMENT DISP 37000 37000 OTHER 9774 3427 6347 4296 1896 2400 2689025 2421524 267501 0 1421027 1573810 251102 15101 489518 3333292 584732 3855894 2748560 74000 4540 2968727 5794653 8334749 10862183 183048 864725 5741435 4594373 30851 17603 5955334 5476701 X 716648 732525 1662767 4652957 2379415 5385482 8334749 10862183 X 2636067 370000 X 0 1 X 1 0 X 1050000 1597755 2045217 1306468 5406041 11405481 1050000 1597755 2045217 1306468 5406041 11405481 11405481 -441988 -466155 382265 540453 16740 31315 11436796 0.99730 0.86260 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 208856 208856 2752136 372587 2379549 273325 113246 160079 98975 98899 76 2748560 REDEVELOPMENT PROPERTIES 5394653 OTHER RECEIVABLES - TAX CREDITS 400000 5794653 TENANT RENT DEPOSITS 17603 17603 X 5771798 492997 492997 5278801 46291 46291 5325092 3135729 492997 492997 2642732 46293 46293 2689025 PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) FOR AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS AND DETERMINED THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAX AUTHORITIES; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR TAX YEARS PRIOR TO 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED UNDER EXPENSES FOR THE FINANCIALS PART XI, LINE 4B - OTHER ADJUSTMENTS: SELF RENTAL PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NOT INCLUDED UNDER 990 EXPENSES PART XII, LINE 4B - OTHER ADJUSTMENTS: SELF RENTAL X 0 0 0 1 0 0 0 0 0 ABBEY GILROY EXECUTIVE DIRECTOR 140100 0 20749 0 0 0 0 0 0 0 160849 0 0 0 SADIE TRYTTEN DIRECTOR OF REAL ESTATE 98605 0 30794 0 0 0 0 0 0 0 129399 0 0 0 PART I, LINE 3 SALARIES ARE APROVED BY BOARD PART I, LINE 5 TRANSACTION EARNINGS ARE EARNED BASED ON PROJECT REVENUE, CONTINGENT ON BOARD APPROVAL FORM 990, PART III, LINE 1 VISION TO PROVIDE OUR COMMUNITY WITH SELF-SUSTAINING & PROSPEROUS NEIGHBORHOODS. NEIGHBORHOOD DEVELOPMENT CORPORATION IS A COMMUNITY FOCUSED, NON-PROFIT ON A MISSION TO PROMOTE SUSTAINABLE REDEVELOPMENT AND REVITALIZATION IN DES MOINES. NDC WAS CREATED IN 1999 AS PART OF AN INITIATIVE BETWEEN THE CITY OF DES MOINES AND POLK COUNTY TO IGNITE REVITALIZATION OF COMMERCIAL NODES IN DES MOINES EXISTING NEIGHBORHOODS. THIS PUBLIC INVESTMENT HAS ALLOWED NDC TO PROVIDE HOUSING AND SERVICES TO UNDERSERVED NEIGHBORHOODS FOR OVER 25 YEARS. THE MISSION OF THE ORGANIZATION ALLOWS FOR REDEVELOPMENT AND OCCUPANCY OF UNDERUTILIZED PROPERTIES, THE INCREASE OF PROPERTY VALUES AND COLLABORATION THROUGH PUBLIC/PRIVATE PARTNERSHIPS TO FURTHER SPREAD THE MISSION THROUGHOUT THE COMMUNITY. EVERY PROJECT NDC UNDERTAKES IS DRIVEN BY A PURPOSE TO BRING GREATER VALUE, CONNECTIVITY AND UTILITY TO THE NEIGHBORHOODS AND COMMUNITIES WE SERVE. WE LEVERAGE OUR EXPERIENCE, PROFESSIONALISM AND KEY PARTNERSHIPS WITH GOVERNMENT, NEIGHBORHOOD LEADERS, DESIGNERS, BUILDERS AND CITY PLANNERS TO PROVIDE INNOVATIVE SOLUTIONS TO UNDERSERVED AREAS. NDC FOCUSES ON THREE ESSENTIAL CORE VALUES WHEN DECIDING ON THE DIRECTION THEY WILL TAKE MOVING FORWARD WITH ANY PROJECT: COLLABORATION, REVITALIZATION AND CATALYZATION. IT IS IMPERATIVE THESE CORE VALUES ARE FOLLOWED SO THE TRUE POTENTIAL AS AN ORGANIZATION AND ACHIEVE CAN BE FULFILLED TO WHAT THEY CALL, THE NDC EFFECT. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS REVIEWS THE 990 PRIOR TO FILING WITH THE IRS DURING ITS QUARTERLY BOARD MEETING FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED BY THE BOARD ON AN ANNUAL BASIS FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS FORM 990, PART VI, SECTION C, LINE 19 THESE ARE AVAILABLE TO THE PUBLIC UPON REQUEST FORM 990, PART XI, LINE 9: EQUITY CONTRIBUTION IN PARK INDY LLC 370000. COLD STORAGE REHAB LLC 2331 UNIVERSITY AVE STE 202 DES MOINES IA 50311 421489223 REAL ESTATE REDEVELOPMENT IA 474584 1646957 NEIGHBORHOOD DEVELOPMENT CORPORATION FRANKLIN REHAB LLC 2331 UNIVERSITY AVE STE 202 DES MOINES IA 50311 871901532 REAL ESTATE REDEVELOPMENT IA 3429105 1288032 NEIGHBORHOOD DEVELOPMENT CORPORATION FW REHAB LLC 2331 UNIVERSITY AVE STE 202 DES MOINES IA 50311 421489223 REAL ESTATE REDEVELOPMENT IA 47628 224650 NEIGHBORHOOD DEVELOPMENT CORPORATION HULL AVENUE REVITALIZATION LLC 2331 UNIVERSITY AVE STE 202 DES MOINES IA 50311 421489223 REAL ESTATE REDEVELOPMENT IA -1074 242308 NEIGHBORHOOD DEVELOPMENT CORPORATION SW 9TH LLC 2331 UNIVERSITY AVE STE 202 DES MOINES IA 50311 421489223 REAL ESTATE REDEVELOPMENT IA -109042 1103840 NEIGHBORHOOD DEVELOPMENT CORPORATION PARK INDY LLC 2331 UNIVERSITY AVE STE 202 DES MOINES IA 50311 871709462 REAL ESTATE DEVELOPMENT IA NEIGHBORHOOD DEVELOPMENT CORPORATION RELATED -11069 1150555 0 0 0.62000 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 VARSITY CINEMA LLC D 2352750 YEAR END LOAN BALANCE PARK INDY LLC B 370000 RECEIPTS