Civic Intelligence

New Hill Development Corporation

EIN 83-1107639 • 501(c)3 • Charlottesville, VA

Profile

To expand economic opportunities to grow wealth and home ownership in the Charlottesville Black community through financial coaching, entrepreneurial support, economic development and asset building.

Refreshing map…

401 East Market St Suite 14Charlottesville, VA 22902

newhilldev.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

88th percentile

0.69x

Higher debt load relative to assets than 88% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

89th percentile

1.21x

Higher debt load relative to revenue than 89% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

91st percentile

57%

Higher net margin than 91% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

99th percentile

556%

Faster asset growth than 99% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

93rd percentile

117%

Faster revenue growth than 93% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$3,753,296

Up $3,360,030 (+854%) from 2023

Liabilities

Up

$2,581,238

Up $2,138,877 (+484%) from 2023

Net Assets

Up

$1,172,058

Up $1,221,153 (+2487%) from 2023

Operations
Liabilities / Revenue89th percentileNet Margin91st percentile

Revenue

Up

$2,137,477

Up $1,647,377 (+336%) from 2023

Expenses

Up

$916,324

Up $335,504 (+58%) from 2023

Net Income

Up

$1,221,153

Up $1,311,873 (+1446%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth99th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2019: $77,398Liabilities 2019: $0Net Assets 2019: $77,3982019Assets 2020: $62,658Liabilities 2020: $0Net Assets 2020: $62,6582020Assets 2021: $164,025Liabilities 2021: $120,500Net Assets 2021: $43,5252021Assets 2022: $87,250Liabilities 2022: $45,625Net Assets 2022: $41,6252022Assets 2023: $393,266Liabilities 2023: $442,361Net Assets 2023: -$49,0952023Assets 2024: $3,753,296Liabilities 2024: $2,581,238Net Assets 2024: $1,172,0582024

Highlighted filing

2024

Assets$3,753,296
Liabilities$2,581,238
Net Assets$1,172,058
Open 2024 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $591,889Expenses 2019: $510,035Net Income 2019: $81,8542019Revenue 2020: $122,398Expenses 2020: $137,138Net Income 2020: -$14,7402020Revenue 2021: $246,970Expenses 2021: $266,103Net Income 2021: -$19,1332021Revenue 2022: $455,152Expenses 2022: $457,052Net Income 2022: -$1,9002022Revenue 2023: $490,100Expenses 2023: $580,820Net Income 2023: -$90,7202023Revenue 2024: $2,137,477Expenses 2024: $916,324Net Income 2024: $1,221,1532024

Highlighted filing

2024

Revenue$2,137,477
Expenses$916,324
Net Income$1,221,153
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,753,296
Liabilities
$2,581,238
Net assets
$1,172,058
Revenue
$2,137,477
Expenses
$916,324
Net income
$1,221,153
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.75$2.58$1.17$2.14$0.92$1.22
2023Detailed filing. Detailed filing data is available for this year.$0.39$0.44$0.05$0.49$0.58$0.09
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.05$0.04$0.46$0.46$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.16$0.12$0.04$0.25$0.27$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.12$0.14$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.08$0.00$0.08$0.59$0.51$0.08
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$2,137,477
Mission and Program Overview

Mission

To expand economic opportunities to grow wealth and home ownership in the Charlottesville Black community through financial coaching, entrepreneurial support, economic development and asset building.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$87,841$396,634▲ $308,793
Land, Buildings, and Equipment, Net$2,420$27,562▲ $25,142
Accounts Receivable$31,157$13,818▼ $17,339
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$393,266$3,753,296▲ $3,360,030
Other Assets Total$271,848$3,315,282▲ $3,043,434
Liabilities
Mortgage Notes Payable Secured by Investment Property$394,250$2,132,543▲ $1,738,293
Deferred Revenue$1,911$249,000▲ $247,089
Accounts Payable and Accrued Expenses$46,200$199,695▲ $153,495
Total Liabilities$442,361$2,581,238▲ $2,138,877
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-49,095$1,172,058▲ $1,221,153
Total Net Assets Fund Balance$-49,095$1,172,058▲ $1,221,153
Total Liabilities and Net Assets / Fund Balance$393,266$3,753,296▲ $3,360,030

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$27,562$754$28,316
Other Assets Org$25,582--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Yolunda HarrellPresident & CEOFT$82,629$8,415$91,044

Board Members and Trustees

NameTitle
Anne Baker BrownChair
Caruso BrownPast Chair
Karen KlickVice Chair
Dr Tamara RyanDirector
Dr a Rashard DacusDirector
Elizabeth KennanDirector
Hollie LeeDirector
Jerrod SmithDirector
Lester JacksonDirector
Linda MeltonDirector
Quincy CarpenterDirector
Shymora CooperDirector
Tara BoydDirector
Ramona ChapmanSecretary
Shawn McgowenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,819,922
Program Service Revenue
$300,665
Investment Income
$0
Other Revenue
$16,890
All Other Contributions
$930,076
Change in Net Assets
$1,221,153
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$607,578
Salaries, Compensation, and Employee Benefits$308,746
Total Fundraising Expense$76,062
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$127,873$8,158$53,497$189,528
Other Salaries and Wages$110,532$76,598-$187,130
Current Officers, Directors, Trustees, and Key Employees$54,626$18,209$18,209$91,044
Occupancy$72,006$13,207-$85,213
Interest-$61,960-$61,960
Fees for Services Accounting-$27,384-$27,384
Payroll Taxes$13,444$4,357$4,356$22,157
Office Expenses$14,269$3,958-$18,227
Insurance$1,476$15,957-$17,433
Information Technology$5,888$8,567-$14,455
Advertising$325$12,034-$12,359
Conferences and Meetings-$10,330-$10,330
Other Employee Benefits$5,049$3,366-$8,415
Fees for Services Legal$5,000--$5,000
Other Expenses$3,683$781-$4,464
Depreciation Depletion-$529-$529
All Other Expenses$111$373-$484
Total Functional Expenses$572,997$267,265$76,062$916,324
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Draft of Form 990 reviewed by President and other Board members prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Directors are required to update their disclosure forms annually.”

Form 990, Part VI, Section C, Line 19

“The Organization makes available all documents required by law.”

Filing and Contact Details

Filer

Filer Name
New Hill Development Corporation
EIN
83-1107639
Phone
4344659164
Address
401 EAST MARKET ST SUITE 14, CHARLOTTESVILLE, VA 22902

Signing Officer

Name
Yolunda Harrell
Title
President & CEO
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yolunda Harrell
Formed
2018
Legal Domicile
Va
Voting Board Members
15
Independent Board Members
14
Employees
9
Volunteers
25

Preparer

Firm
Sherman Financial Management LLC
Address
10321 AVENHAM WAY, HENRICO, VA 23238
Preparer
Terry Sherman
Phone
8043057957
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IRS990/Form990PartVIISectionAGrp/TitleTxt0President & CEO
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IRS990/Form990PartVIISectionAGrp/TitleTxt4Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
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IRS990/MissionDesc0To expand economic opportunities to grow wealth and home ownership in the Charlottesville Black community through financial coaching, entrepreneurial support, economic development and asset building.
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IRS990/OtherExpensesGrp/Desc0Catering costs- BEACON Kitchen
IRS990/OtherExpensesGrp/Desc1Bank fees; credit card proc
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IRS990/ProgSrvcAccomActy2Grp/Desc0Through 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. This partnership, which concluded at the end of 2024, significantly advanced New Hill's commitment to increasing financial capability and economic stability among low-to-moderate-income residents.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Black 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.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt081001
IRS990/ProgSrvcAccomActyOtherGrp/Desc0Continuation of 4a - The buildout represents a major milestone in creating accessible, affordable, and culturally-grounded infrastructure for small food-based businesses in the Charlottesville region.Expansion of Youth Meal Services:New Hill continued to grow its meal production and delivery program, which provides nutritious food to local youth through partnerships with community organizations. In 2024, we expanded our service to two additional Boys & Girls Clubs - James River (Scotsville) and the Albemarle County/Charlottesville (ACC) Club. With this growth, Ne Hill served more than 30,000 meals to children in 2024, ensuring consistent access to healthy food and supporting families across the region.
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