Overview
What is New Orleans Redevelopment Unlimited Inc?
New Orleans Redevelopment Unlimited Inc., established in 2004, is a nonprofit organization dedicated to eliminating and preventing slum development, promoting neighborhood revitalization, and eradicating blight. Its mission encompasses blight removal, community development, and constructing affordable housing for the disadvantaged. By acquiring and restoring blighted properties, Noru makes them commercially viable, either through sales or transfer to low-income residents. Additionally, the organization collaborates with NORA in various construction projects to provide housing for low-income residents under a cooperative agreement.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
New Orleans Redevelopment Unlimited Inc has received a Three-Star rating from Charity Navigator, reflecting a solid performance in the area of Accountability & Finance. The organization has demonstrated strong governance practices, with an independent board comprising eight members and robust oversight through its audit committee. These elements contribute positively to its overall accountability score of 79%.
The organization shows a commendable commitment to financial transparency, as evidenced by its high program expense ratio of 96.74%, indicating that a significant portion of its budget is directed towards its mission-related activities. Additionally, it has policies in place for conflict of interest, whistleblowing, and document retention, further enhancing its governance framework.
However, the charity did receive a score of zero out of 15 for its liabilities to assets ratio, which suggests potential financial vulnerabilities that could be addressed. While the organization excels in many areas, this particular aspect may raise concerns regarding its financial stability in the long term. Overall, New Orleans Redevelopment Unlimited Inc is positioned as a responsible nonprofit with a strong focus on accountability.
This AI summary has been generated from information found on Charity Navigator.
Is New Orleans Redevelopment Unlimited Inc legitimate?
New Orleans Redevelopment Unlimited Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Orleans Redevelopment Unlimited Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $151,590
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What is the mission statement of New Orleans Redevelopment Unlimited Inc?
New Orleans Redevelopment Unlimited Inc., established in 2004, is dedicated to addressing issues related to slums and blight. Their primary mission is to prevent the development or spread of such areas and promote neighborhood revitalization. They actively work towards eliminating blight, revitalizing communities, and constructing affordable housing. The organization also engages in blight removal by restoring abandoned properties to commercial use or transferring them to low-income residents. Furthermore, New Orleans Redevelopment Unlimited Inc. collaborates with NORA on various housing projects for low-income residents through a cooperative agreement.
Who is the CEO of New Orleans Redevelopment Unlimited Inc?
Wayne Woods is the Member of New Orleans Redevelopment Unlimited Inc.
What is the revenue of New Orleans Redevelopment Unlimited Inc?
New Orleans Redevelopment Unlimited Inc's revenue in 2022 was $2,084,618.
Who are the executives of New Orleans Redevelopment Unlimited Inc and what are their salaries?
Here are 4 key members and their salaries:
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- Other: $0
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Where can I find the form 990 for New Orleans Redevelopment Unlimited Inc?
New Orleans Redevelopment Unlimited Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of New Orleans Redevelopment Unlimited Inc
New Orleans Redevelopment Unlimited Inc, or Noru, was established with a mission to combat and halt the emergence of slums, stimulate neighborhood revitalization, and eliminate blight. This nonprofit organization aims to promote community development and construct affordable housing for disadvantaged individuals. By restoring blighted properties, Noru encourages commerce, either through direct sales or transfers to low-income residents. Furthermore, Noru participates in various construction projects associated with housing for low-income residents, in collaboration with NORA, through a cooperative agreement. By undertaking these activities, Noru strives to enhance the living conditions of its community members and contribute to the overall development of the area.
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Impact
July, 2024
New Orleans Redevelopment Unlimited Inc's impact lies in its efforts to eliminate and prevent the development or spread of slums, promote neighborhood revitalization, blight removal, community development, and construction of affordable housing in New Orleans. Through its work, Noru restores blighted properties to commerce through sales or transfer to low-income residents, contributing to the improvement of living conditions and revitalization of communities. Additionally, Noru's participation in construction projects involving housing for low-income residents through a cooperative agreement with NORA further underscores its commitment to addressing housing challenges and promoting affordable housing options in the city.
This information is meant to be a general summary of New Orleans Redevelopment Unlimited Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $69,518
- Gross Receipts: $2,084,618
Assets and Liabilities:
- Total Assets: $6,803,233
- Total Liabilities: $6,653,272
- Net Assets: $149,961
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Organization Details
Founding Year
2007
Phone
(504) 658-4400Principal Officer
Wayne Woods
Main Address
1409 ORETHA CASTLE HALEY BLVD, NEW ORLEANS, LA, 70113
NTEE Category
Code: L22 - Housing
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