Overview
What is New Neighborhoods Inc?
New Neighborhoods Inc, established in Connecticut, is a nonprofit organization dedicated to enhancing living conditions for low and moderate-income individuals and families. They achieve this by owning and managing over 440 residential units across Stamford, Norwalk, and Danbury. Their housing portfolio includes supportive, veteran, and senior units, catering to diverse community needs. The organization's primary mission is to develop, redevelop, and improve quality housing in Connecticut, with a particular focus on Lower Fairfield County. They also contribute to the planning and improvement of low and moderate-income communities, employing a workforce of 64 individuals in their endeavors.
Official website here: www.nnistamford.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
New Neighborhoods Inc has earned a Three-Star rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. The charity's score is based entirely on its accountability practices, which shows a strong commitment to transparency and responsible management of funds.
The organization demonstrates impressive governance with a fully independent board and effective policies in place such as conflict of interest and whistleblower protections. Their program expense ratio of 75.69% highlights that a significant majority of their resources are directed toward program services, which is a positive indicator for donors looking to maximize impact.
However, while the accountability score is commendable, the overall rating reflects a lack of additional beacons such as results or impact evaluations. This limitation may suggest a need for further information regarding the organization's effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is New Neighborhoods Inc legitimate?
New Neighborhoods Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Neighborhoods 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.
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For more financial information, click here
Official website here: www.nnistamford.org
What is the mission statement of New Neighborhoods Inc?
New Neighborhoods Inc's mission is centered around developing, redeveloping, owning, and managing high-quality housing for individuals and families with low to moderate incomes. The organization also works to assist in the planning, re-planning, development, and improvement of low and moderate income communities. This mission is specifically focused on communities within Connecticut, with a particular emphasis on Lower Fairfield County. New Neighborhoods Inc owns several real estate companies and partnerships, which provide housing for over 440 individuals and families, including supportive, veteran, and senior living units in Stamford, Norwalk, and Danbury, Connecticut.
Official website here: www.nnistamford.org
Who is the CEO of New Neighborhoods Inc?
William J Healy Ii is the Past Chairman of New Neighborhoods Inc. The CEO's salary of New Neighborhoods Inc is $214,287 and their total compensation is $257,316.
Official website here: www.nnistamford.org
What is the revenue of New Neighborhoods Inc?
New Neighborhoods Inc's revenue in 2022 was $5,439,205.
Official website here: www.nnistamford.org
Who are the executives of New Neighborhoods Inc and what are their salaries?
There are 64 employees at New Neighborhoods Inc.
Here are 14 key members and their salaries (New Neighborhoods Inc's CEO's salary is $214,287 and their total compensation is $257,316):
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- Compensation: $214,287
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- Other: $43,029
Official website here: www.nnistamford.org
Where can I find the form 990 for New Neighborhoods Inc?
New Neighborhoods Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nnistamford.org
Learn more at the official website: www.nnistamford.org
Mission Statement of New Neighborhoods Inc
New Neighborhoods Inc, a nonprofit organization, is committed to making a difference in the lives of low and moderate income individuals and families. Their primary mission is to develop, redevelop, own, and manage quality housing for this demographic, and to contribute to the planning, re-planning, development, and improvement of low and moderate income communities. With a focus on Lower Fairfield County in Connecticut, New Neighborhoods Inc is dedicated to enhancing these communities by providing affordable and high-quality living spaces.
The organization owns several real estate companies and partnerships, which collectively manage over 440 units. These units are rented out to low and moderate income individuals and families, and New Neighborhoods Inc offers a variety of housing options, such as supportive, veteran, and senior units. By providing affordable housing, New Neighborhoods Inc is not only helping individuals and families secure a place to call home, but it is also contributing to the overall well-being of its communities. The organization's work in developing and redeveloping housing, as well as its focus on improving low and moderate income communities, demonstrates its deep commitment to social responsibility and making a positive impact in the lives of those who need it most.
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Impact
July, 2024
New Neighborhoods Inc has a significant impact on low and moderate income individuals and families in Connecticut, specifically in Lower Fairfield County. By developing, owning, and managing quality housing, New Neighborhoods Inc provides affordable and safe living spaces for those in need. Their focus on supportive, veteran, and senior units ensures that vulnerable populations are taken care of. Additionally, the organization's efforts to assist in planning, redevelopment, and improvement of low to moderate income communities contribute to the overall betterment of these neighborhoods. Through their work, New Neighborhoods Inc positively impacts the lives of many residents in Stamford, Norwalk, and Danbury, CT.
This information is meant to be a general summary of New Neighborhoods 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.
- Program Service Revenue: $5,028,671
- Gross Receipts: $5,439,205
Assets and Liabilities:
- Total Assets: $33,755,919
- Total Liabilities: $31,766,948
- Net Assets: $1,988,971
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE FROM LO
Revenue
$2,911,130
PAYROLL REIMBURSEMENTS
Revenue
$1,582,097
MANAGEMENT FEES
Revenue
$535,444
Organization Details
Founding Year
1967
Phone
(203) 359-2215Principal Officer
William J Healy Ii
Main Address
76 PROGRESS DRIVE, STAMFORD, CT, 06902
Website
www.nnistamford.orgNTEE Category
Code: L25 - Housing
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