NEW LEVEL COMMUNITY DEVELOPMENT CORPORATION

EIN: 621873654 501(c)(3) Community Improvement

NASHVILLE, TN

Total Revenue
$2,391,681
Total Expenses
$748,253
Total Assets
$8,229,336
Net Assets
$6,642,120
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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
TN
Principal Officer
TERESA SKIPPER
Tax Period
2023-01-01 to 2023-12-31

NEW LEVEL COMMUNITY DEVELOPMENT CORPORATION, founded in 2001, is a community nonprofit in the Community Improvement sector that reported $2.4M in total revenue in fiscal year 2023. Revenue surged 117% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 69% operating margin.

Mission

NEW LEVEL COMMUNITY DEVELOPMENT CORPORATION ADVOCATES FOR LOW-TO-MODERATE INCOME COMMUNITY BY WORKING WITH LEGISLATORS, OTHER NON-PROFITS, AND PRIVATE DEVELOPERS TO CREATE MORE AFFORDABLE HOMES IN NASHVILLE.

Program Service Accomplishments

Program 1
Expenses: $516,561 Revenue: $244,285

THE AFFORDABLE HOUSING PROGRAM WORKS WITH COMMUNITY PARTNERS TO PROVIDE HOMES FOR PEOPLE WITH LOW TO MODERATE INCOMES IN NEED OF AFFORDABLE HOUSING. PROGRAMS INCLUDE HOME OWNERSHIP WITH DOWN PAYMENT...

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THE AFFORDABLE HOUSING PROGRAM WORKS WITH COMMUNITY PARTNERS TO PROVIDE HOMES FOR PEOPLE WITH LOW TO MODERATE INCOMES IN NEED OF AFFORDABLE HOUSING. PROGRAMS INCLUDE HOME OWNERSHIP WITH DOWN PAYMENT ASSISTANCE AND AFFORDABLE RENTAL UNITS. THE CORPORATION USES OFFICE SPACE DONATED BY MT ZION BAPTIST CHURCH, WHICH HAS BEEN RECORDED AS AN IN-KIND DONATION. THE RECORDED FAIR MARKET VALUE OF THE PORTION OF THIS DONATION RELATED TO AFFORDABLE AND RENTAL HOUSING IS $2,716.

Program 2

HOME BUYER EDUCATION IS A 1 DAY, 6 HOUR COURSE OFFERED ONCE PER MONTH FROM JANUARY THROUGH OCTOBER, AND IS TAUGHT BY TRAINED CERTIFIED INSTRUCTORS. THEY ALSO PROVIDE A 1 HOUR PRIVATE CONSULTATION...

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HOME BUYER EDUCATION IS A 1 DAY, 6 HOUR COURSE OFFERED ONCE PER MONTH FROM JANUARY THROUGH OCTOBER, AND IS TAUGHT BY TRAINED CERTIFIED INSTRUCTORS. THEY ALSO PROVIDE A 1 HOUR PRIVATE CONSULTATION. THE CURRICULUM USED IS PROVIDED BY NEIGHBOR WORKS AMERICA. IN ADDITION, HOUSING COUNSELING IS PROVIDED AS NEEDED TO ASSIST INDIVIDUALS.

Program 3

FINANCIAL EDUCATION IS PROVIDED THROUGH INDIVIDUAL COACHING SESSIONS. SOME INDIVIDUALS WHO COMPLETE THE REQUIRED 10 HOURS OF FINANCIAL EDUCATION COURSE WORK AND MEET ELIGIBILITY REQUIREMENTS ENTER...

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FINANCIAL EDUCATION IS PROVIDED THROUGH INDIVIDUAL COACHING SESSIONS. SOME INDIVIDUALS WHO COMPLETE THE REQUIRED 10 HOURS OF FINANCIAL EDUCATION COURSE WORK AND MEET ELIGIBILITY REQUIREMENTS ENTER INTO A MATCHING SAVINGS PROGRAM TO HELP THEM ESTABLISH SAVINGS HABITS AND BEGIN TO BUILD ASSETS. ONCE THEY REACH THEIR SAVINGS GOAL, THEY MAY RECEIVE MATCH DOLLARS TO HELP THEM PURCHASE A HOME, START A SMALL BUSINESS, OR CONTINUE THEIR POST SECONDARY EDUCATION. THE CORPORATION USES OFFICE SPACE DONATED BY MT ZION BAPTIST CHURCH, WHICH HAS BEEN RECORDED AS AN IN-KIND DONATION. THE RECORDED FAIR MARKET VALUE OF THE PORTION OF THIS DONATION RELATED TO FINANCIAL EDUCATION IS $27,158.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $90,732
Program Service Revenue $2,244,802
Investment Income $12,132
Other Revenue $44,015
TOTAL REVENUE $2,391,681

Expense Breakdown

Grants Paid $0
Salaries & Benefits $328,293
Fundraising Expenses $0
Program Expenses $516,561
Other Expenses $419,960
TOTAL EXPENSES $748,253

Year-over-Year Comparison

2023 2022 Change
Revenue $2,391,681 $1,102,707 +1.2%
Expenses $748,253 $546,487 +0.4%
Net Income $1,643,428 $556,220 +2.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
4
Volunteers
12

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
5
$99,000
Total Directors
10
$99,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TERESA SKIPPER EXECUTIVE DIRECTOR 50.00
Officer Director
$99,000 $0 $99,000
BARRY GREER DIRECTOR 1.00
Director
$0 $0 $0
BRIAN BRADSHAW DIRECTOR 1.00
Director
$0 $0 $0
SHANNON FITZPATRIC DIRECTOR 1.00
Director
$0 $0 $0
LUIS PARODI DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL LUMMUS DIRECTOR 1.00
Director
$0 $0 $0
BRIAN JORDAN PRESIDENT 2.00
Officer Director
$0 $0 $0
JEFF RUPRIGHT TREASURER 2.00
Officer Director
$0 $0 $0
LENEIVA HEAD SECRETARY 2.00
Officer Director
$0 $0 $0
PAULA ROBERTS VICE PRESIDENT 2.00
Officer 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 $2,391,681 $748,253 $8,229,336 $1,643,428
2022 $1,102,707 $546,487 $15,237,547 $556,220
2021 $735,618 $481,063 $14,695,815 $254,555
2020 $1,572,998 $508,647 $4,696,110 $1,064,351
2019 $1,110,513 $747,318 $3,689,009 $363,195
2018 $531,062 $344,715 $2,892,114 $186,347
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