New Development Corporation FY2022 filing
Helps low-income people buy and keep homes, improving neighborhoods. For fiscal year 2022 it reported $219K in revenue, $221K in expenses, and $96K in net assets.Pt I
- Founded
- 1996
- Type
- Public charity (501(c)(3)) · Housing
- Location
- Grand Rapids, MI
- Website
- www.newdevelopmentcorp.org
- Filings
- 6 on file (2020–2022)
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Summary of the Filing
Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Helen Lehman’s $64K as Executive Director is at the 55th percentile of top reported officer pay among 851 $100K–1M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Helen Lehman | $64,477 | $55,235 | $58,615 | $47,879 | $36,315 | $26,203 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Where the work happens
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.
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.
Tax preparation program- assist LOW/MODERATE income tax filers complete and file income tax returns. Help individuals benefit from the michigan homestead property tax credit. This program returns dollars to the community to assist with home ownership and maintenance.
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Statement of Revenue
Statement of Functional Expenses
Balance Sheet
Financial Metrics
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
| Metric | This org | Peer median | Percentile |
|---|---|---|---|
| Program ratio | 94% | — | — |
| Overhead ratio | 6% | — | — |
| Fundraising cost ratio | 0% | — | — |
| Revenue growth | 23% | — | — |
| Investment management fee ratio | 0% | — | — |
| Legal fee ratio | 0% | — | — |
| Accounting fee ratio | 1% | — | — |
| Fundraising fee ratio | 0% | — | — |
Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.
Grants
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Filings & Schedule Manifest
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Sources
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