Nonprofit · EIN 38-3326468
NEW DEVELOPMENT CORPORATION
Tax-exempt · GRAND RAPIDS, MI 49505
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $804,156 | $520,383 | $283,773 | $713,004 | $291,791 | $421,213 |
| December 31, 2024 | 990 | $725,350 | $618,706 | $106,644 | $569,010 | $431,570 | $137,440 |
| December 31, 2023 | 990 | $334,395 | $398,663 | -$64,268 | $83,016 | $52,193 | $30,823 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $28,654
- Program service revenue
- $775,502
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $350,338
- Compensation of officers, directors and key employees
- $95,192
- Other salaries and wages
- $38,022
- Salaries, compensation and benefits (total)
- $141,163
- Professional fundraising fees
- $0
- Accounting fees
- $3,950
- Occupancy
- $9,067
- Travel
- $709
- Depreciation
- $1,216
- Program services (functional)
- $500,953
- Management and general (functional)
- $16,956
- Fundraising (functional)
- $2,474
Balance sheet and other
- Total assets, start of year
- $569,010
- Total assets, end of year
- $713,004
- Total liabilities, end of year
- $291,791
- Net assets, end of year
- $421,213
- Land, buildings and equipment
- $1,000
- Gross receipts
- $804,156
- Employees
- 5
- Volunteers
- 22
- Year formed
- 1996
- State of legal domicile
- MI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| HELEN LEHMAN | EXECUTIVE DIRECTOR Key employee, Highest-paid employee | 35 | $64,477 | $30,216 |
| KATE DORSEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ERIC JOBE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AJ FOSSEL | PRESIDENT Officer | 2 | $0 | $0 |
| REGINA BRADLEY | SECRETARY Officer | 2 | $0 | $0 |
| CAROL HENNESSEY | TREASURER Officer | 2 | $0 | $0 |
| SHAQUILLE ANTHONY | VICE PRESIDENT Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| HELEN LEHMAN | EXECUTIVE DIRECTOR Key employee, Highest-paid employee | 32 | $55,235 | $25,826 |
| KATE DORSEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ERIC JOBE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AJ FOSSEL | PRESIDENT Officer | 2 | $0 | $0 |
| REGINA BRADLEY | SECRETARY Officer | 2 | $0 | $0 |
| CAROL HENNESSEY | TREASURER Officer | 2 | $0 | $0 |
| SHAQUILLE ANTHONY | VICE PRESIDENT Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 10 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| HELEN LEHMAN | EXECUTIVE DIRECTOR Key employee | 32 | $58,615 | $22,856 |
| SARAH PEGMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATE DORSEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ERIC JOBE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KELSEY ROBINSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JILL ROTHWELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AJ FOSSEL | PRESIDENT Officer | 2 | $0 | $0 |
| REGINA BRADLEY | SECRETARY Officer | 2 | $0 | $0 |
| CAROL HENNESSEY | TREASURER Officer | 2 | $0 | $0 |
| SHAQUILLE ANTHONY | VICE PRESIDENT Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 205 CARRIER ST NE, GRAND RAPIDS, MI 49505-4970
- In care of
- % HELEN LEHMAN
- Principal officer (990 for 2025)
- AJ Fossel, 321 Page St NE, Grand Rapids, MI 49505
- Signed the 990
- Alma Jean Fossel, Board President
- Phone
- (616) 361-7500
- Website
- WWW.NEWDEVELOPMENTCORP.ORG
- Return prepared by
- Jankowiak Consulting LLC
Mission
PROMOTE HOME OWNERSHIP & AFFORDABLE HOUSING TO ALLEVIATE NEIGHBORHOOD BLIGHT IN TARGETED LOW AND MODERATE INCOME ARES. WORK WITH LOW-INCOME INDIVIDUALS TO HELP THEM OBTAIN AND RETAIN HOME OWNERSHIP, FACILITATE HOMEOWNER REPAIR GRANTS AND TAX RETURN PREPARATION.
Program accomplishments
- REHABILITATION OF DILAPIDATED HOMES TO BRING TO CITY CODE. PRICE AND SELL HOME TO INCOME-QUALIFIED BUYERS. THE HOMES ARE RETURNED TO PRIVATE OWNERSHIP AND OCCUPIED BY QUALIFIED OWNERS. THE CITY TAX BASE IS INCREASED BY RISING HOME VALUE AS WELL AS AN INCREASE IN VALUE OF SURROUNDING PROPERTIES. HOMES ARE AFFORDABLY PRICED AT MARKET VALUE ALLOWING LOW/MODERATE INDIVIDUALS TO ACQUIRE STABLE, QUALITY HOUSING. ONE HOME SOLD DURING 2024. Multiple homes in construction at the end of 2024.Expenses $150,615 · revenue $443,398
- 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 $14,500 · grants $14,500
- 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 $285k for energy-efficiency incentives.Expenses $335,838 · grants $335,838 · revenue $507,675
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 38-3326468
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1998
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20)
- Assets (IRS master file)
- $713,004
- Income (IRS master file)
- $804,156
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $804,156 | $520,383 | $713,004 | IRS |
| 990 | December 2024 | $725,350 | $618,706 | $569,010 | IRS |
| 990 | December 2023 | $334,395 | $398,663 | $83,016 | XML |
| 990 | December 2022 | $219,208 | $221,467 | $144,845 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 38-3326468).
Questions about NEW DEVELOPMENT CORPORATION
- What is the EIN of NEW DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of NEW DEVELOPMENT CORPORATION is 38-3326468.
- Is NEW DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to NEW DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEW DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEW DEVELOPMENT CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEW DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of NEW DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 names AJ Fossel.
- Who are the officers and directors of NEW DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 7 people; 1 received compensation from the organization, the highest $64,477 (HELEN LEHMAN, EXECUTIVE DIRECTOR).
- How much revenue does NEW DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $804,156, expenses of $520,383 and total assets of $713,004 at year end.
Other nonprofits in GRAND RAPIDS
- HOPE NETWORK EIN 90-0805115 · last filed 990 for 2025
- BARUCH SLS INC EIN 38-3375365 · last filed 990 for 2024
- CLARK RETIREMENT COMMUNITY INC EIN 38-1366932 · last filed 990 for 2024
- COVENANT LIVING OF THE GREAT LAKES EIN 38-3244636 · last filed 990 for 2025
- COMMUNITY REBUILDERS EIN 38-3094108 · last filed 990 for 2025
- ICCF COMMUNITY HOME EIN 38-1903026 · last filed 990 for 2024
- HOPE-SPECTRUM HEALTH CC EIN 38-3317919 · last filed 990 for 2023
- DWELLING PLACE OF GRAND RAPIDS NONPROFIT HOUSING CORPORATION EIN 38-2313832 · last filed 990 for 2024
All nonprofits in GRAND RAPIDS · Michigan · Housing and shelter