2024-05-03T10:00:34-05:00 2023-06-30 341310124 REA & ASSOCIATES INC 1220 MOORE RD SUITE C AVON OH 44011 990 2022-07-01 341704488 VILLAGE CAPITAL CORPORATION VILL 2168302770 11327 SHAKER BOULEVARD SUITE 500W CLEVELAND OH 44104 MELODIE SANDERS SVP OF FINANCE 2168302770 2024-04-29 1 MELODIE SANDERS 999009999 0 MATTHEW B HIGGINS CPA P01861280 4409842441 2024-04-29 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DIONE ALEXANDER 11327 SHAKER BOULEVARD SUITE 500W CLEVELAND OH 44104 1484314 0 X WWW.CLEVELANDNP.ORG X 1992 OH INVESTING IN THE REVITALIZATION OF NORTHEAST OHIO'S UNDERSERVED COMMUNITIES. 17 16 0 17 0 0 1600000 920000 723620 522351 2122 41963 0 0 2325742 1484314 168800 24000 0 0 347881 468088 0 0 12512 563448 609448 1080129 1101536 1245613 382778 24042217 24649319 16810618 16849274 7231599 7800045 INVESTING IN THE REVITALIZATION OF NORTHEAST OHIO'S UNDERSERVED COMMUNITIES THROUGH COMMERCIAL LENDING MAINLY IN THE CITY OF CLEVELAND AND THE DEVELOPMENT OF MINORITY CONTRACTORS. 0 0 928282 24000 522351 VILLAGE CAPITAL CORPORATION (VCC) BUILDS AND STRENGTHENS UNDERSERVED NEIGHBORHOOD IN NORTHEAST OHIO BY PROVIDING CAPITAL TO STRATEGIC REAL ESTATE DEVELOPMENT PROJECTS THAT SERVE AS A CATALYST FOR REVITALIZATION. OUR LOANS CAPITAL IS DEPLOYED TO PROJECTS THAT: ELIMINATE BLIGHT, PROVIDE QUALITY HOUSING AND COMMERCIAL ASSETS, CREATE JOBS, FOSTER ECONOMIC DIVERSITY AND INCLUSION, AND PROMOTE POSITIVE SOCIAL OUTCOMES FOR RESIDENTS. 928282 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 11 0 0 0 0 0 0 0 0 0 0 0 0 X 17 16 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 OH X THE ORGANIZATION 2168302770 11327 SHAKER BOULEVARD SUITE 500W CLEVELAND OH 44104 DAVID EDDY CHAIRMAN 1.00 1.00 X X 0 0 0 TANIA MENESSE VICE CHAIRMAN 3.00 37.00 X X 0 218502 11929 EMANUEL GLOVER TREASURER 1.00 0.00 X X 0 0 0 LINDA WARREN SECRETARY 1.00 1.00 X X 0 127645 5693 SEAN APICELLA DIRECTOR 1.00 0.00 X 0 0 0 TERRY COYNE DIRECTOR 1.00 0.00 X 0 0 0 DOROTHY CURTIS DIRECTOR 1.00 0.00 X 0 0 0 KEISHA GONZALEZ DIRECTOR 1.00 1.00 X 0 0 0 JOHN HAIRSTON III DIRECTOR 1.00 0.00 X 0 0 0 YVETTE ITTU DIRECTOR 1.00 0.00 X 0 0 0 KAYLEIGH MUSIL DIRECTOR 1.00 0.00 X 0 0 0 KYLE KOLESAR DIRECTOR 1.00 0.00 X 0 0 0 PETER SNAVELY JR DIRECTOR 1.00 0.00 X 0 0 0 MORTON D STANFIELD DIRECTOR 1.00 0.00 X 0 0 0 DEEPA VEDAVYAS DIRECTOR 1.00 0.00 X 0 0 0 GORDON WEAN DIRECTOR 1.00 0.00 X 0 0 0 KANDIS WILLIAMS DIRECTOR 1.00 0.00 X 0 0 0 DIONE ALEXANDER PRESIDENT 40.00 0.00 X 0 138315 12113 MELODIE SANDERS SVP OF FINANCE 4.00 36.00 X 0 7197 162 0 491659 29897 0 0 1 0 0 750000 170000 920000 FEES - PROGRAM SERVICE 900099 386882 386882 INTEREST - PROGRAM SER 900099 135469 135469 522351 41963 41963 1484314 522351 0 41963 24000 24000 415859 320647 88335 6877 1652 1274 351 27 44435 34259 9438 738 6142 4736 1305 101 131339 101270 27899 2170 37538 28944 7974 620 38195 29450 8113 632 1798 1384 381 33 8109 6258 1723 128 16732 12913 3558 261 26699 20589 5672 438 9672 7454 2053 165 320804 320804 4479 3446 949 84 DUES AND SUBSCRIPTIONS 9872 7605 2095 172 MISCELLANEOUS 4211 3249 896 66 1101536 928282 160742 12512 475201 560847 15561214 14974547 45000 14400 14400 0 0 7638809 8908073 321993 205852 24042217 24649319 155422 251279 7250000 7250000 9285000 9285000 120196 62995 16810618 16849274 X 7126599 7752214 105000 47831 7231599 7800045 24042217 24649319 X 382778 185668 X 0 1 X 1 0 X X 1 NEIGHBORHOOD PROGRESS INC 341611055 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14400 14400 0 0 PROGRAM-RELATED LOANS 8908073 F 8908073 RELATED PARTY PAYABLE 62995 62995 X 1669982 185668 185668 1484314 0 1484314 1101536 0 1101536 0 1101536 PART X, LINE 2: THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) PROVIDES GUIDANCE FOR HOW UNCERTAIN INCOME TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE ORGANIZATION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED WHEN CHALLENGED OR WHEN EXAMINED BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THEN-NOT THRESHOLD WOULD BE RECORDED AS A TAX BENEFIT OR EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEAR ENDED JUNE 30, 2023, MANAGEMENT HAS DETERMINED THERE ARE NO UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECOVERY OF LOAN LOSSES 185,668. 1 DNA RISING 2859 COVENTRY ROAD SHAKER HEIGHTS OH 44120 852810320 10000 0 US BANK BLACK WOMEN'S BUSINESS ACCELERATOR MIGLAM 6353 STONEHAVEN LANE BEDFORD HEIGHTS OH 44146 880586860 10000 0 US BANK BLACK WOMEN'S BUSINESS ACCELERATOR PART I, LINE 2: A CONTRACT IS EXECUTED BETWEEN VCC AND ITS' GRANT RECIPIENTS CONTAINING STIPULATIONS THE RECIPIENT MUST MEET. VCC STAFF MEETS PERIODICALLY WITH GRANT RECIPIENTS TO MONITOR PROGRESS. 0 0 0 0 0 0 0 0 0 TANIA MENESSE VICE CHAIRMAN 0 218502 0 0 0 0 0 4370 0 7559 0 230431 0 0 DIONE ALEXANDER PRESIDENT 0 138315 0 0 0 0 0 2766 0 9347 0 150428 0 0 PART I, LINE 3 COMPENSATION IS DETERMINED BY A RELATED ORGANIZATION. THE FOLLOWING METHODS WERE USED: (1) COMPENSATION COMMITTEE; (2) APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION A, LINE 6 NEIGHBORHOOD PROGRESS INC. (NPI) IS THE SOLE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A THE SOLE MEMBER SHALL APPOINT TWO THIRDS (2/3) OF THE DIRECTORS ("APPOINTED DIRECTORS") AND THE REMAINING DIRECTORS SHALL BE ELECTED BY THE BOARD OF DIRECTORS ("ELECTED DIRECTORS"). FORM 990, PART VI, SECTION A, LINE 7B THE VOTING MEMBERS ELECT OR APPOINT ALL OF THE MEMBERS OF THE GOVERNING BODY. SOME OF THE VOTING MEMBERS ARE MEMBERS OF THE GOVERNING BODY THEN SERVING. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY OUR INDEPENDENT ACCOUNTING FIRM, REVIEWED BY THE CHIEF FINANCIAL OFFICER AND THE PRESIDENT OF VCC AND SIGNED BY THE CHIEF FINANCIAL OFFICER. A DRAFT OF FORM 990 IS DISTRIBUTED TO NPI THE CONTROLLING ENTITY AUDIT COMMITTEE AND VCC BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C AT EACH BOARD MEETING, BEFORE DISCUSSION BEGINS ON ANY LOAN DEAL, THE DIRECTORS OF THE BOARD ARE ASKED BY THE PRESIDENT IF ANYONE HAS A CONFLICT OF INTEREST. IN ADDITION, ANNUALLY EACH DIRECTOR OF THE BOARD AS WELL AS SENIOR STAFF MEMBERS MUST COMPLETE AND SIGN A CONFLICT OF INTEREST QUESTIONNAIRE DISCLOSING IN WRITING ANY POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 A SURVEY OF OTHER ORGANIZATIONS IS TAKEN AND EVALUATED IN DETERMINING SALARY LEVEL FOR FORGING INDUSTRY ASSOCIATION PRESIDENT. SALARY OF THE PRESIDENT IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRETORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF TIME AS SET FORTH IN IRC SECTION 6104(D). FORM 990, PART XI, LINE 9: RECOVERY OF LOAN LOSSES 185,668. NEIGHBORHOOD PROGRESS INC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 341611055 GRANTMAKING FOR COMMUNITY DEVELOPMENT OH 501(C)(3) LINE 7 0 NEW VILLAGE CORPORATION 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 341653986 REAL ESTATE DEVELOPMENT TO COMBAT BLIGHT OH 501(C)(3) LINE 7 NEIGHBORHOOD PROGRESS INC 1 SLAVIC VILLAGE RECOVERY LLC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 341344279 RETAIL REAL ESTATE TO COMBAT BLIGHT OH 0 0 STL HOUSING LLC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 571151167 DEVELOPING QUALITY AFFORDABLE HOUSING OH 0 0 ST LUKE'S POINTE HOMEOWNERS ASSOC 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 208546912 HOMEOWNERS' ASSOCIATAION OH C 0 STL GP-1 CORP 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 274725064 DEVELOPING QUALITY AFFORDABLE HOUSING OH C 0 STL GP-2 CORP 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 460730923 DEVELOPING QUALITY AFFORDABLE HOUSING OH C 0 STL GP-3 CORP 11327 SHAKER BLVD SUITE 500W CLEVELAND OH 44104 463194152 RETAIL REAL ESTATE TO COMBAT BLIGHT OH C 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 1 1