2024-05-15T14:45:17-05:00 2023-06-30 341310124 REA & ASSOCIATES INC 1220 MOORE RD SUITE C AVON OH 44011 990 2022-07-01 341653986 NEW VILLAGE CORPORATION NEWV 2162388712 11327 SHAKER BOULEVARD 500W CLEVELAND OH 44104 MELODIE SANDERS CHIEF FINANCIAL OFFICER 2162388712 2024-05-14 1 MELODIE SANDERS 999009999 1 MATTHEW B HIGGINS CPA P01861280 4409842441 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MELODIE SANDERS 11327 SHAKER BOULEVARD 500W CLEVELAND OH 44104 7203569 0 X WWW.CLEVELANDNP.ORG X 1990 OH NON-PROFIT DEVELOPER SPECIALIZING IN CHALLENGING PROJECTS IN URBAN ENVIRONMENTS WHICH SPURS ADDITIONAL PRIVATE INVESTMENTS. 8 7 0 8 0 0 17450 4824280 297984 405642 5442 6843 208921 1966804 529797 7203569 0 0 0 0 235895 173700 0 0 0 329003 2587552 564898 2761252 -35101 4442317 7440000 21685616 772963 10908630 6667037 10776986 X AS A WHOLLY-OWNED SUBSIDIARY OF NEIGHBORHOOD PROGRESS, INC. (NPI), NEW VILLAGE CORPORATION (NVC) DEVELOPS CATALYTIC REAL ESTATE PROJECTS IN JOINT VENTURES WITH COMMUNITY BASED 501(C)(3) DEVELOPMENT CORPORATIONS AND PRIVATE INVESTORS. NEW VILLAGE CORPORATION SUPPORTS PROJECTS THAT ARE EITHER TOO LARGE FOR A NON-PROFIT 501(C)(3) COMMUNITY DEVELOPMENT CORPORATION ("CDC") TO TAKE ON OR TOO RISKY FOR A PRIVATE DEVELOPER. NVC WORKS DIRECTLY WITH 501(C)(3) CDCS AND PRIVATE DEVELOPERS TO HELP SECURE RESOURCES THAT ASSIST IN HANDLING COMPLEX REAL ESTATE DEVELOPMENT PROJECTS. NVC PROVIDES TECHNICAL ASSISTANCE, INCLUDING ARRANGING PROJECT FINANCING. PROJECTS UNDERTAKEN FURTHER THE ORGANIZATION'S CHARITABLE PURPOSES BY COMBATING COMMUNITY DETERIORATION IN DISTRESSED COMMUNITIES. 0 0 2521892 2372446 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. 2521892 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 1 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 1 0 0 0 1 14 0 0 1 1 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 OH X THE ORGANIZATION 2162388712 11327 SHAKER BOULEVARD 500W CLEVELAND OH 44104 TANIA MENESSE VICE CHAIRPERSON 1.00 39.00 X X 0 218718 11734 ISABEL DEROBERTS TRUSTEE 1.00 X 0 0 0 AUGUST FLUKER TREASURER 1.00 X X 0 0 0 DORIVETTE NOLAN SECRETARY 1.00 X X 0 0 0 JASON RUSSELL TRUSTEE 1.00 X 0 0 0 SEAN MCDERMOTT CHAIR 1.00 X X 0 0 0 LISA MCGOVERN TRUSTEE 1.00 X 0 0 0 JASON PHILLIPS TRUSTEE 1.00 X 0 0 0 MELODIE SANDERS SR. VP OF FINANCE / CFO 9.00 31.00 X 0 7215 65 BRIANA PERRY PRESIDENT 9.00 31.00 X 0 55633 6280 LINDA WARREN THRU OCT 2022 PRESIDENT 9.00 31.00 X 0 127825 4451 0 409391 22530 0 1 1 0 0 4824280 4824280 PROGRAM SERVICE REVENUE 531310 400238 400238 MANAGEMENT FEES 531310 5404 5404 405642 6843 6843 1966804 0 1966804 1966804 1966804 7203569 2372446 0 6843 X 140899 128685 12214 2818 2574 244 19003 17356 1647 10980 10028 952 167961 153401 14560 29100 26577 2523 466342 425917 40425 76172 69569 6603 29031 26514 2517 899725 821732 77993 466104 425700 40404 48655 44437 4218 90838 82964 7874 REPAIRS AND MAINTENANCE 313624 286438 27186 2761252 2521892 239360 0 760549 3493935 480727 122171 221541 396207 321897 17282 6708 14148749 317947 1558065 13830802 2275211 3580961 1804728 254832 7440000 21685616 123323 475351 125796 3200 300000 10162639 223844 267440 772963 10908630 X 5893229 6373921 773808 4403065 6667037 10776986 7440000 21685616 X 4442317 -189277 -143091 X 0 1 X 1 0 X 1623234 285025 174752 17450 4824280 6924741 1623234 285025 174752 17450 4824280 6924741 759198 6165543 31896 9173 5442 6843 53354 45000 45000 7023095 3358821 0.87790 0.63860 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE - 2021 AMOUNT: $ 45,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3357370 3357370 10769229 308696 10460533 22150 9251 12899 13830802 INVESTMENT IN ST. LUKE'S HOSPITAL - PHASE 1 2373034 C OTHER INVESTMENTS 220000 C PROPERTY HELD FOR SALE 987927 C 3580961 OTHER LIABILITIES 12001 SECURITY DEPOSITS 28236 RELATED PARTY PAYABLES 227203 267440 X 7203569 0 7203569 0 7203569 2904343 143091 143091 2761252 0 2761252 PART X, LINE 2: THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) PROVIDES GUIDANCE FOR HOW UNCERTAIN INCOME TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE ORGANIZATION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED WHEN CHALLENGED OR WHEN EXAMINED BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE LIKELY THAN NOT THRESHOLD WOULD BE RECORDED AS A TAX BENEFIT OR EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED JUNE 30, 2023, MANAGEMENT HAS DETERMINED THERE ARE NO UNCERTAIN TAX POSITIONS. PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT 143,091. 0 0 0 0 0 0 0 0 0 TANIA MENESSE VICE CHAIRPERSON 0 218502 0 0 0 216 0 4400 0 7334 0 230452 0 0 LINDA WARREN THRU OCT 2022 PRESIDENT 0 127645 0 0 0 180 0 1834 0 2617 0 132276 0 0 PART I, LINE 3 COMPENSATION IS DETERMINED BY A RELATED ORGANIZATION. THE FOLLOWING METHODS WERE USED: COMPENSATION COMMITTEE: APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 6 NEIGHBORHOOD PROGRESS, INC. IS THE SOLE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A NEIGHBORHOOD PROGRESS, INC.'S CEO SITS ON THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B NEIGHBORHOOD PROGRESS, INC., THE SOLE STOCKHOLDER, APPROVES CHANGES IN THE GOVERNING DOCUMENTS, MERGERS, SALES OF SUBSTANTIALLY ALL ASSETS, AND DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER AND THE PRESIDENT OF NVC AND SIGNED BY THE CHIEF FINANCIAL OFFICER. A DRAFT OF FORM 990 IS DISTRIBUTED TO THE NPI, THE CONTROLLING ENTITY AUDIT COMMITTEE, AND NVC BOARD PRIOR TO FILING. THIS POLICY ALSO APPLIES TO ALL OF THE ORGANIZATION'S DISREGARDED ENTITIES. FORM 990, PART VI, SECTION B, LINE 12C AT EACH MEETING OF THE BOARD OF TRUSTEES, THE TRUSTEES ARE ASKED BY THE PRESIDENT IF ANYONE HAS A CONFLICT OF INTEREST. IN ADDITION, ANNUALLY EACH TRUSTEE AS WELL AS SENIOR STAFF MEMBERS MUST COMPLETE AND SIGN A CONFLICT OF INTEREST QUESTIONNAIRE DISCLOSING IN WRITING ANY POTENTIAL CONFLICTS OF INTEREST. THIS POLICY ALSO APPLIES TO ALL OF THE ORGANIZATION'S DISREGARDED ENTITIES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 425,917. MANAGEMENT AND GENERAL EXPENSES 40,425. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 466,342. FORM 990, PART XI, LINE 9: BAD DEBT -143,091. SAINT LUKE'S INVESTMENT FUND LLC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 INVESTMENT FUND DE NEW VILLAGE CORPORATION STL-NVC RESIDENTIAL LLC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 582681308 REAL ESTATE DEVELOPMENT TO COMBAT BLIGHT OH -127743 NEW VILLAGE CORPORATION LAND ASSEMBLY FOR NEIGH DEV LTD 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 421735958 REAL ESTATE DEVELOPMENT TO COMBAT BLIGHT OH 795985 NEW VILLAGE CORPORATION HCLT HOLDINGS LLC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 842216548 LAND TRUST HOLDING PROPERTY FOR DEVELOPMENT OH 25712 708717 NEW VILLAGE CORPORATION NEW VILLAGE RP-LP LLC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 EQUITY INTEREST MANAGEMENT OH 220000 NEW VILLAGE CORPORATION SAINT LUKE'S PHASE III LLC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 611717963 RESIDENTIAL REAL ESTATE TO COMBAT BLIGHT OH 128792 1862870 NEW VILLAGE CORPORATION STL DEVELOPMENT LLC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 522382835 RESIDENTIAL REAL ESTATE TO COMBAT BLIGHT OH 4031846 NEW VILLAGE CORPORATION NEIGHBORHOOD PROGRESS INC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 341611055 GRANTMAKING FOR REVITALIZING ECONOMICALLY DISTRESSED NEIGHBORHOODS OH 501(C)(3) LINE 7 0 VILLAGE CAPITAL CORPORATION 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 341704488 LENDING FOR COMMUNITY DEVELOPMENT OH 501(C)(3) LINE 12A, I NEIGHBORHOOD PROGRESS INC 1 SLAVIC VILLAGE RECOVERY LLC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 341344279 RETAIL REAL ESTATE TO COMBAT BLIGHT OH EXCLUDED 0 0 0.51000 STL HOUSING LLC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 571151167 DEVELOPING QUALITY AFFORDABLE HOUSING OH EXCLUDED 0 0 0.50000 SH SQ LLC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 882678368 PROPERTY MANAGEMENT SERVICE OH NEW VILLAGE CORPORATION EXCLUDED 0 -636060 0 0.90000 ST LUKE'S POINTE HOMEOWNERS ASSOC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 208546912 HOMEOWNERS' ASSOCIATAION OH STL HOUSING LLC C 0.69880 0 STL GP-1 CORP 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 274725064 DEVELOPING QUALITY AFFORDABLE HOUSING OH STL DEVELOPMENT LLC C 1.00000 0 STL GP-2 CORP 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 460730923 DEVELOPING QUALITY AFFORDABLE HOUSING OH STL DEVELOPMENT LLC C 1.00000 0 STL GP-3 CORP 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 463194152 DEVELOPING QUALITY AFFORDABLE HOUSING OH STL DEVELOPMENT LLC C 1.00000 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 CLEVELAND NEIGHBORHOOD PROGRESS C 327000 CASH