New Hill Development Corporation
Empowering Charlottesville's Black community with financial coaching, business help, and asset building for wealth and homeownership. For fiscal year 2024 it reported $2.1M in revenue, $916K in expenses, and $1.2M in net assets.Pt I
- Type
- Public charity (501(c)(3)) · Human Services
- Location
- Charlottesvle, VA
- Website
- newhilldev.org
- Filings
- 6 on file (2019–2024)
More identity details & actions ⌄
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Summary of the Filing
Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Compensation history total reportable pay by year · 2 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|
| Yolunda Harrell | $82,629 | $68,670 | $30,875 | $17,000 | — | — |
| Yolunda Harrell | — | — | — | — | $23,000 | $52,000 |
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
In 2024, New Hill Development Corporation made significant progress across its core program areas, with a focus on expanding economic opportunity, strengthening community partnerships, and completing critical infrastructure that supports Black and under-resourced entrepreneurs.BEACON Kitchen Construction:Throughout 2024, New Hill…
Through our partnersip with Operation HOPE, New Hill provided financial coaching and education to more than 75 adults in 2024. Participants received individualized guidance on budgeting, credit improvement, debt reduction, and long-term financial planning.
Black Business Incubator (bbi)
Culinary Training & Applied Learning:As part of our Black Business Incubator program, entrepreneurs engaged in real-world experience by supporting meal production for partner sites, This hands-on training strengthened culinary, operations, and business skills while simultaneously expanding community impact.
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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 | 63% | — | — |
| Overhead ratio | 29% | — | — |
| Fundraising cost ratio | 4% | — | — |
| Revenue growth | 336% | — | — |
| Investment management fee ratio | 0% | — | — |
| Legal fee ratio | 0.5% | — | — |
| Accounting fee ratio | 3% | — | — |
| 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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