Skip to the page content
Your donations
Passes our checks

New Village Corporation

EIN 34-1653986 · Cleveland, OH

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood85 out of 100GovernanceStrong95 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

AS A WHOLLY-OWNED SUBSIDIARY OF NEIGHBORHOOD PROGRESS, INC. (NPI), NEW VILLAGE CORPORATION (NVC) DEVELOPS CATALYTIC REAL ESTATE PROJECTS IN JOINT VENTURES WITH COMMUNITY BASED 501(C)(3) DEVELOPMENT CORPORATIONS AND PRIVATE INVESTORS. NEW VILLAGE CORPORATION SUPPORTS PROJECTS THAT ARE EITHER TOO LARGE FOR A NON-PROFIT 501(C)(3) COMMUNITY DEVELOPMENT CORPORATION ("CDC") TO TAKE ON OR TOO RISKY FOR A PRIVATE DEVELOPER. NVC WORKS DIRECTLY WITH 501(C)(3) CDCS AND PRIVATE DEVELOPERS TO HELP SECURE RESOURCES THAT ASSIST IN HANDLING COMPLEX REAL ESTATE DEVELOPMENT PROJECTS. NVC PROVIDES TECHNICAL ASSISTANCE, INCLUDING ARRANGING PROJECT FINANCING. PROJECTS UNDERTAKEN FURTHER THE ORGANIZATION'S CHARITABLE PURPOSES BY COMBATING COMMUNITY DETERIORATION IN DISTRESSED COMMUNITIES.

Income
$5.9 million
Spending
$4.0 million
Spent on programs
89%
Reserves
16.5 months of spending
Largest source of income
donations and private grants, 62%
Employees
0
Volunteers
9
Highest pay
$247,685, vice chairperson

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 85 out of 100. Higher than 67% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    35 of 35

    Spendable reserves would cover 16.5 months of spending.

  • Debt

    5 of 20

    It owes 60% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 33% of income.

  • Income trend

    15 of 15

    Income rose 71% on the year before.

  • Spending floor

    15 of 15

    89% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 95 out of 100. Higher than 62% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    25 of 25

    9 of 9 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $3.5 million spent. NEW VILLAGE CORPORATION ("NVC") FOCUSES ITS REAL ESTATE DEVELOPMENT IN PLACES WHERE ITS ACTIVITY WILL RELIEVE BLIGHT, ECONOMIC DISTRESS, AND COMMUNITY DETERIORATION IN THE SERVICE OF UNDERSERVED COMMUNITIES IN THE CITY OF CLEVELAND. NVC IS CURRENTLY INVOLVED IN AN ACQUISITION, REHABILITATION, AND FOR-SALE SINGLE-FAMILY HOUSING PROGRAM WITH SLAVIC VILLAGE DEVELOPMENT, A 501(C)(3) ORGANIZATION. IT IS CURRENTLY WORKING ON A STRATEGY TO REVIVE THE FAILED NEW CONSTRUCTION MARKET IN THE BUCKEYE NEIGHBORHOOD OF CLEVELAND, WHERE THE COMPANY OWNS ENOUGH LAND TO FACILITATE THE CONSTRUCTION OF AROUND 40 NEW UNITS. ESTABLISHED IN 1990, NVC IS A WHOLLY-OWNED REAL ESTATE DEVELOPMENT SUBSIDIARY OF NEIGHBORHOOD PROGRESS, INC., A NON-PROFIT ORGANIZATION FORMED TO FOSTER COMMUNITIES OF CHOICE AND OPPORTUNITY THROUGHOUT CLEVELAND. SINCE 1990, NVC HAS DEVELOPED OVER 800 UNITS OF NEW OR REHABBED HOUSING AND 1.28 MILLION SQUARE FEET OF NEW OR REHABBED COMMERCIAL SPACE WORTH OVER $213 MILLION. AMONG ITS COMPLETED PROJECTS ARE: THE AWARD-WINNING SAINT LUKE'S MANOR PHASE I AND BICENTENNIAL VILLAGE DEVELOPMENT NORTH PARK PLACE DAVE'S SUPERMARKET IN OHIO CITY AND SLAVIC VILLAGE CENTRAL COMMONS LEE-HARVARD SHOPPING CENTER ORCHARD PARK FRIES & SCHUELE APARTMENTS CARROLL AVENUE CONDOMINIUMS ARBOR PARK PLACE SHOPPING CENTER. IN AUGUST 2022, NVC ACQUIRED SHAKER SQUARE IN PARTNERSHIP WITH BURTEN BELL CARR DEVELOPMENT, MADE POSSIBLE BY THE CITY OF CLEVELAND PROVIDING $12 MILLION IN LOW-INTEREST LOANS TO ACQUIRE AND SUPPORT THE PROJECT. IN JUNE 2024 LOCAL FOCAL LLC WAS FORMED TO ACQUIRE, OWN, MANAGE, AND ULTIMATELY SELL TO QUALIFIED BUYERS SINGLE FAMILY HOMES IN VARIOUS UNDERSERVED NEIGHBORHOODS THROUGHOUT THE CITY OF CLEVELAND AS PART OF AN OVERALL MIDDLE NEIGHBORHOODS INITIATIVE. BASED ON THE CITY OF CLEVELAND'S NEIGHBORHOOD TYPOLOGY INDEX, LOCAL FOCAL LLC WILL BE FOCUSING ITS INVESTMENTS IN CLEVELAND'S MIDDLE NEIGHBORHOODS, INCLUDING COLLINWOOD, LEE-HARVARD, OLD BROOKLYN, AND WEST PARK.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since October 1990.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.