2025-01-28T08:38:37-08:00 2023-12-31 204004313 SHERMAN FINANCIAL MANAGEMENT LLC 10321 AVENHAM WAY HENRICO VA 23238 990 2023-01-01 831107639 NEW HILL DEVELOPMENT CORPORATION NEWH 4344659164 401 EAST MARKET ST SUITE 14 CHARLOTTESVILLE VA 22902 YOLUNDA HARRELL President & CEO 2025-01-15 true true Terry P Sherman CPA P01270400 8043057957 2023 2025-03-06 01:10:19Z YOLUNDA HARRELL 401 EAST MARKET ST SUITE 14 CHARLOTTESVILLE VA 22902 490100 false X newhilldev.org X 2018 VA To expand economic opportunities to grow wealth and home ownership in the Charlottesville Black community through financial coaching, entrepreneurial support, economic development and asset building. 14 13 3 25 0 316559 279345 47988 189107 0 90605 21648 455152 490100 26000 0 0 30875 137002 0 54865 400177 443818 457052 580820 -1900 -90720 87250 393266 45625 442361 41625 -49095 To expand economic opportunities to grow wealth and home ownership in the Charlottesville Black community through financial coaching, entrepreneurial support, economic development and asset building. false false 190547 Economic Development: Building on our success from last year, 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, has continued to make a substantial impact. During 2023, our pilot commercial kitchen served 12 entrepreneurial enterprises and proudly facilitated the creation of 25,638 meals, a testament to the growth and vitality of our initiative. 186425 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. 87402 In 2023 the Financial Capability program served 198 clients, actively counseled 161 individuals and provided a total of 521 financial empowerment services. During the year, participants demonstrated significant progress: 57% of participants increased their credit score by an average of 34-points, with 65% of participants achieving increase of 30-points or more. Participants bolstered their savings by an average of $500 while concurrently reducing their debt an average of $605.Housing: During 2023, we conducted 64 coaching sessions over 12 workshops and facilitated $428,000 in capital access specifically directed towards enabling mortgages. These milestones underscore our commitment to empowering individuals through tailored guidance and tangible financial resources. 464374 true true false false false false false false false false true false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 8 0 true 3 false false false false false false false false 0 false false false false false false false X 14 13 false false false false false false false true true false false false true true true true true false false false VA X Yolunda Harrell 4342208072 401 East Market St Suite 14 Charlottesville VA 22902 YOLUNDA HARRELL President & CEO 50.00 0.00 X X 68670 0 8159 CARUSO BROWN Interim Chair 1.00 0.00 X X 0 0 0 KAREN KLICK Vice Chair 1.00 0.00 X X 0 0 0 SHAWN MCGOWEN Treasurer 1.00 0.00 X X 0 0 0 RAMONA CHAPMAN Secretary 1.00 0.00 X X 0 0 0 ANNE BROWN Director 1.00 0.00 X 0 0 0 SHYMORA COOPER Director 1.00 0.00 X 0 0 0 DR A RASHARD DACUS Director 1.00 0.00 X 0 0 0 LESTER JACKSON Director 1.00 0.00 X 0 0 0 ELIZABETH KENNAN Director 1.00 0.00 X 0 0 0 QUINCY CARPENTER Director 1.00 0.00 X 0 0 0 TARA BOYD Director 1.00 0.00 X 0 0 0 LINDA MELTON Director 1.00 0.00 X 0 0 0 DR TAMARA RYAN Past Chair 1.00 0.00 X 0 0 0 HOLLIE LEE Director 1.00 0.00 X 0 0 0 68670 8159 0 false false false 0 72350 206995 279345 Food service 722310 189107 189107 189107 0 0 0 21648 21648 21648 21648 0 0 0 0 0 490100 189107 21648 X 0 0 0 0 76829 57622 11524 7683 0 51974 51974 0 0 8199 7180 607 412 0 283 283 7201 7201 0 0 0 231588 190658 40930 13842 675 13167 5780 3810 1305 665 9107 3164 5943 0 78242 70141 5401 2700 0 0 6782 3576 3206 4568 3738 830 0 225 225 7674 738 6936 Direct food costs 69223 69223 Engagement 4783 772 1536 2475 Bank fees; credit card proc 2098 2098 Training / recruiting 986 986 1436 1103 333 580820 464374 61581 54865 87250 87841 0 0 31157 0 0 0 0 0 2645 225 2420 0 0 0 0 271848 87250 393266 45625 46200 1911 394250 45625 442361 X 11625 -49095 30000 41625 -49095 87250 393266 -90720 X true X false false false X 591889 122398 246970 316559 279345 1557161 0 0 591889 122398 246970 316559 279345 1557161 0 1557161 0 0 21605 21648 43253 1600414 0.97300 0.98370 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2645 225 2420 2420 Beacon Kitchen construction 246266 Security deposits 25582 271848 Form 990, Part VI, Section B, Line 11b Draft of Form 990 reviewed by President and other Board members prior to filing. Form 990, Part VI, Section B, Line 12c Directors are required to update their disclosure forms annually. Form 990, Part VI, Section C, Line 19 The Organization makes available all documents required by law.