New Development Corporation

Nonprofit profile at a glance

EIN
383326468
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Grand Rapids, MI, USA
Phone
6163617500
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$804,156
Expenses
$520,383
Assets
$713,004
Liabilities
$291,791

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • HELEN LEHMAN (EXECUTIVE DIRECTOR)
  • AJ FOSSEL (PRESIDENT)
  • SHAQUILLE ANTHONY (VICE PRESIDENT)

Highest reported compensation

  • HELEN LEHMAN (EXECUTIVE DIRECTOR): $94,693 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2025

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.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 70% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 88
  • Accountability: 90
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.3%; rating input score 62
  • Program expense ratio: 96.3%; rating input score 96
  • Fundraising efficiency: $11.58 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 15th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 78th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 35.3%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 1.37; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 18.2%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 31.7% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 38.1% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 43.5% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 62.3% of revenue deployed · 96.3% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $501K in reported program spending
  • Leadership: top reported pay $95K · 7 people listed
  • Highest-paid contractors: 3 contractors listed · $611K reported
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.