Overview
What is The Neighborhood Developers Inc?
The Neighborhood Developers Inc., based in Chelsea, Massachusetts, is a nonprofit organization dedicated to improving local communities. Their primary mission is to establish robust neighborhoods, empowering residents to secure stable housing, attain economic mobility, and shape their own futures. They employ four investment strategies: real estate development to expand affordable housing and foster equitable neighborhoods, community building to cultivate leadership and self-advocacy, financial capabilities and workforce development to boost family prosperity, and resident services to ensure TND property residents thrive in various aspects of life. The organization manages 539 affordable apartments and seven commercial spaces, providing affordable rents for local businesses. Their property management is handled by a third-party vendor, Winn Residential, working alongside TND's resident services and asset management teams to maintain high-quality affordable housing.
Official website here: www.theneighborhooddevelopers.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% - Three-Star out of Four Star rating from Charity Navigator.
The Neighborhood Developers Inc has received a strong overall rating of 85%, showcasing its solid performance in accountability and finance, alongside an impressive score for culture and community. The organization stands out in areas such as feedback collection, usage, and practices, all scoring a perfect 100, indicating a high level of engagement with stakeholders and a commitment to integrating their feedback into operations.
With a notable accountability and finance score of 83%, the organization demonstrates effective management of its resources. The program expense ratio of 77.58% suggests a significant portion of its budget is directed towards programs rather than administrative costs. However, the liabilities to assets ratio of 67.48% may raise some concerns regarding financial leverage and sustainability in the long term.
Despite these strengths, there may be opportunities for improvement in the financial aspect, particularly in balancing assets and liabilities. Overall, The Neighborhood Developers Inc appears to be a well-managed nonprofit with a strong commitment to community engagement and responsiveness.
This AI summary has been generated from information found on Charity Navigator.
Is The Neighborhood Developers Inc legitimate?
The Neighborhood Developers Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Neighborhood Developers 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:
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Professional Fundraising Fees: $35,175
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Official website here: www.theneighborhooddevelopers.org
What is the mission statement of The Neighborhood Developers Inc?
The Neighborhood Developers Inc, abbreviated as TND, is committed to establishing strong neighborhoods that empower community members. Their mission is to help individuals secure a stable home and achieve economic mobility, ultimately enabling them to shape their own future. TND employs four investment strategies to build equitable neighborhoods. These strategies include real estate development to expand affordable housing inventory, community building to foster leadership development and self-advocacy, financial capabilities and workforce development to boost family prosperity, and resident services to ensure the success of TND property residents in various aspects of their lives. These initiatives are carried out in collaboration with their Connect Partners.
Official website here: www.theneighborhooddevelopers.org
Who is the CEO of The Neighborhood Developers Inc?
Rafael Mares is the President of The Neighborhood Developers Inc.
Official website here: www.theneighborhooddevelopers.org
What is the revenue of The Neighborhood Developers Inc?
The Neighborhood Developers Inc's revenue in 2021 was $7,961,454.
Official website here: www.theneighborhooddevelopers.org
Who are the executives of The Neighborhood Developers Inc and what are their salaries?
There 370 volunteers at The Neighborhood Developers Inc.
Here are 15 key members and their salaries:
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- Compensation: $168,000
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- Other: $25,374
Official website here: www.theneighborhooddevelopers.org
Where can I find the form 990 for The Neighborhood Developers Inc?
The Neighborhood Developers Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.theneighborhooddevelopers.org
Learn more at the official website: www.theneighborhooddevelopers.org
Mission Statement of The Neighborhood Developers Inc
The Neighborhood Developers Inc, a nonprofit organization, is committed to building strong and just neighborhoods, enabling community members to secure a stable home and achieve economic mobility, ultimately determining their own future. To accomplish this mission, The Neighborhood Developers Inc employs four investment strategies. Firstly, they engage in real estate development to expand the inventory of affordable housing and construct equitable neighborhoods. Secondly, they focus on community building, fostering leadership development and self-advocacy through organizing efforts. Thirdly, they collaborate with their Connect Partners to deliver financial capabilities and workforce development programs, aiming to increase family prosperity. Lastly, they provide resident services to ensure the success of the residents living in their properties in various aspects of life, including home, school, work, and the community.
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Impact
July, 2024
The Neighborhood Developers Inc's impact is evident in its dedication to creating strong neighborhoods that empower community members to secure stable homes, achieve economic mobility, and determine their own futures. Through their real estate development initiatives, TND expands affordable housing inventory and builds equitable neighborhoods. Their focus on community building fosters leadership development and self-advocacy among residents. Additionally, TND offers financial capabilities and workforce development programs in collaboration with their partners to increase family prosperity. By providing resident services, TND ensures that individuals and families living in their properties succeed in various aspects of their lives, including home, school, work, and community engagement. Through their efforts, TND plays a crucial role in addressing housing affordability and supporting the overall well-being of the community in Chelsea, MA.
This information is meant to be a general summary of The Neighborhood Developers 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 2021.
- Investment Income: $324,000
- Program Service Revenue: $3,199,827
- Gross Receipts: $7,961,454
Assets and Liabilities:
- Total Assets: $68,146,151
- Total Liabilities: $57,164,257
- Net Assets: $10,981,894
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPMENT FEES
Revenue
$1,132,070
RENTAL INCOME
Revenue
$800,420
TENANT SERVICE AND ASS
Revenue
$764,266
INTEREST ON NOTE RECEI
Revenue
$503,071
Organization Details
Founding Year
1978
Phone
(617) 889-1375Principal Officer
Rafael Mares
Main Address
4 GERRISH AVENUE, CHELSEA, MA, 02150
NTEE Category
Code: L200 - Housing
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