NEIGHBORHOOD IMPROVEMENT DEVELOPME… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1973

Legal Domicile

Principal Officer

DAVID SCHROEDER

Phone

4142865608

Tax Period

2023-01-01 to 2023-12-31

NEIGHBORHOOD IMPROVEMENT DEVELOPMENT CORPORATION, founded in 1973, is a small nonprofit in the Housing & Shelter sector that reported $195K in total revenue in fiscal year 2023. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $236K exceeded revenue, resulting in a 21% operating deficit.

Mission

THE NEIGHBORHOOD IMPROVEMENT DEVELOPMENT CORPORATION (THE CORPORATION) IS A NONPROFIT CORPORATION ESTABLISHED BY THE CITY OF MILWAUKEE, WISCONSIN (THE CITY), TO PROMOTE REINVESTMENT IN BOTH HOUSING AND COMMERCIAL STRUCTURES WITHIN THE CITY. THE CORPORATION'S PROGRAMS ENCOURAGE PRIVATE LENDING INSTITUTIONS AND PROPERTY OWNERS TO MAKE IMPROVEMENTS TO THE COMMUNITY'S HOMES AND BUSINESSES. THE CORPORATION IS MANAGED BY A BOARD OF DIRECTORS MADE UP OF MEMBERS FROM THE PUBLIC AND PRIVATE SECTORS. THE CITY OF MILWAUKEE INCLUDES THE CORPORATION AS A COMPONENT UNIT ENTERPRISE FUND IN ITS COMPREHENSIVE ANNUAL FINANCIAL REPORT. THIS COMPONENT UNIT DESIGNATION IS BASED ON THE OVERSIGHT RESPONSIBILITIES AND FINANCIAL ACCOUNTABILITY OF THE CITY IN CONNECTION WITH THE GRANT PROGRAMS ADMINISTERED BY THE CORPORATION.

Program Service Accomplishments

Program 1

Expenses: $147,159 Revenue: $4,753

NEIGHBORHOOD REVITALIZATION - ENCOURAGE PRIVATE LENDING INSTITUTIONS AND PROPERTY OWNERS TO MAKE IMPROVEMENTS TO THE COMMUNITY'S HOMES AND BUSINESSES.

Program 2

Expenses: $26,218 Revenue: $36,647

HOUSING PRODUCTION - ALL EXPENSES RELATED TO THE REHABILITATION AND RESALE OF HOUSES IN LOW-INCOME AREAS TO LOW-INCOME INDIVIDUALS WHO OTHERWISE WOULD LIKELY NOT QUALIFY FOR BANK FINANCING.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $149,332

Program Service Revenue $41,400

Investment Income $-14,251

Other Revenue $18,822

TOTAL REVENUE $195,303

Expense Breakdown

Grants Paid $119,407

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $173,377

Other Expenses $116,184

TOTAL EXPENSES $235,591

Year-over-Year Comparison

	2023	2022	Change
Revenue	$195,303	$265,267	-0.3%
Expenses	$235,591	$311,356	-0.2%
Net Income	$-40,288	$-46,089	-0.1%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$78,802

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MILELE COGGS	BOARD MEMBER	0.50	Director	$0	$0	$78,802
JAMES WITKOWIAK	CHAIR	0.50	Officer Director	$0	$0	$0
DARRYL JOHNSON	VICE CHAIR	0.50	Officer Director	$0	$0	$0
MIGUEL PASQUEIRA	SECRETARY/TREASURER	0.50	Director	$0	$0	$0
CARLA CROSS	BOARD MEMBER	0.50	Director	$0	$0	$0
FRANK CUMBERBATCH	BOARD MEMBER	0.50	Director	$0	$0	$0
FRED CURZAN	BOARD MEMBER	0.50	Director	$0	$0	$0
OBIAGELI NWABUZOR	BOARD MEMBER	0.50	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$195,303	$235,591	$4,175,584	$-40,288
2022	$265,267	$311,356	$3,890,340	$-46,089
2021	$220,351	$245,125	$3,866,325	$-24,774
2020	$214,395	$11,845	$3,641,623	$202,550
2019	$143,758	$124,807	$3,740,307	$18,951
2018	$197,415	$204,353	$3,613,972	$-6,938

NEIGHBORHOOD IMPROVEMENT DEVELOPMENT CORPORATION