Overview
What is Neighborhood Housing Services Of Waterbury Inc?
Neighborhood Housing Services of Waterbury Inc, situated in Waterbury, Connecticut, is a dedicated nonprofit organization with a mission to strengthen communities. They accomplish this through affordable and comprehensive housing development, financial education, and advocating for home and community ownership. Their primary focus is on potential homebuyers, providing them with essential tools such as pre- and post-purchase counseling, budgeting and debt management, financial planning, credit repair, and landlord education. For existing homeowners, they offer support through budgeting and spending counseling, refinancing assistance, DIY training, and helping to lower homeownership costs to avoid foreclosure. With a team of 19 dedicated individuals, Neighborhood Housing Services of Waterbury Inc is committed to empowering individuals and families to achieve and maintain the dream of lifelong homeownership, thereby fostering strong neighborhoods and communities.
Official website here: www.nhswaterbury.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Neighborhood Housing Services Of Waterbury Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The high score is based entirely on a thorough evaluation of organizational practices that emphasize transparency and responsible management of resources, indicating that the nonprofit effectively fulfills its mission while maintaining financial integrity.
The organization has demonstrated exceptional governance, with 100% independent board members and a robust oversight structure, including an Audit and Oversight Committee. Its financial ratios are particularly strong, showcasing that a significant portion of its expenses is directed towards programs, with an 87.08% program expense ratio. This highlights the organization’s commitment to delivering impactful services to the community.
No significant limitations were noted in the feedback, reinforcing the organization's positive reputation. All necessary policies, such as conflict of interest and whistleblower policies, are in place, ensuring ethical operations and accountability. Overall, the rating signifies a well-managed nonprofit that is dedicated to its mission and effective in its service delivery.
This AI summary has been generated from information found on Charity Navigator.
Is Neighborhood Housing Services Of Waterbury Inc legitimate?
Neighborhood Housing Services Of Waterbury Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Neighborhood Housing Services Of Waterbury 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: $2,255,760
For more financial information, click here
Official website here: www.nhswaterbury.org
What is the mission statement of Neighborhood Housing Services Of Waterbury Inc?
Neighborhood Housing Services of Waterbury Inc's mission is centered around strengthening communities by promoting affordable and comprehensive housing development. They achieve this through various initiatives, including financial education programs. The organization's primary goal is to encourage homeownership, providing potential homebuyers with necessary tools for success. This is accomplished through pre- and post-purchase counseling, budgeting and debt management workshops, financial planning, credit repair, and landlord education. Additionally, Neighborhood Housing Services of Waterbury Inc offers a homeownership preservation program, which provides assistance to existing homeowners facing challenges with budgeting, refinancing, and avoiding foreclosure. The aim is to help homeowners hold onto their properties and minimize losses.
Official website here: www.nhswaterbury.org
Who is the CEO of Neighborhood Housing Services Of Waterbury Inc?
Monroe Webster is the Secretary of Neighborhood Housing Services Of Waterbury Inc.
Official website here: www.nhswaterbury.org
What is the revenue of Neighborhood Housing Services Of Waterbury Inc?
Neighborhood Housing Services Of Waterbury Inc's revenue in 2022 was $5,392,269.
Official website here: www.nhswaterbury.org
Who are the executives of Neighborhood Housing Services Of Waterbury Inc and what are their salaries?
The average compensation at Neighborhood Housing Services Of Waterbury Inc during 2022 was $118,724. There are 19 employees at Neighborhood Housing Services Of Waterbury Inc.
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Official website here: www.nhswaterbury.org
Where can I find the form 990 for Neighborhood Housing Services Of Waterbury Inc?
Neighborhood Housing Services Of Waterbury Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nhswaterbury.org
Learn more at the official website: www.nhswaterbury.org
Mission Statement of Neighborhood Housing Services Of Waterbury Inc
Neighborhood Housing Services of Waterbury Inc is committed to strengthening neighborhoods and communities by promoting affordable and comprehensive housing development, financial education, and encouraging home and community ownership. This nonprofit organization's mission is centered around the belief that homeownership is a fundamental building block of a strong community. Through their Homeownership Promotion Programs, Neighborhood Housing Services of Waterbury Inc provides potential homebuyers with essential tools to realize their dream of lifelong homeownership. This is accomplished through pre- and post-purchase counseling and workshops, focusing on budgeting and debt management, financial planning and management, credit repair, and landlord education.
In addition to helping potential homeowners, Neighborhood Housing Services of Waterbury Inc also offers a Homeownership Preservation Program. This program combines clinics and counseling services to assist existing homeowners in maintaining their homes during challenging times. By providing budgeting and spending counseling, refinancing help, do-it-yourself training, education on lowering the costs of homeownership, and avoiding foreclosure, among other services, this program helps homeowners keep their homes and minimize losses. In short, Neighborhood Housing Services of Waterbury Inc is dedicated to improving communities by empowering individuals to become successful homeowners and supporting existing homeowners in preserving their homes.
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Impact
July, 2024
Neighborhood Housing Services of Waterbury Inc is dedicated to building strong neighborhoods and communities through affordable housing development and financial education. By empowering potential homebuyers with the necessary tools and knowledge, they help individuals achieve lifelong homeownership. Their programs focus on pre- and post-purchase counseling, budgeting, debt management, financial planning, credit repair, and landlord education. Additionally, their homeownership preservation program offers support to existing homeowners facing challenges, such as foreclosure, by providing counseling, refinancing assistance, cost reduction education, and loan modification help. Through these initiatives, Neighborhood Housing Services of Waterbury Inc has a significant impact on increasing homeownership rates, preserving home ownership, and fostering a sense of community ownership and empowerment in Waterbury, Connecticut.
This information is meant to be a general summary of Neighborhood Housing Services Of Waterbury 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: $329
- Program Service Revenue: $4,765,159
- Gross Receipts: $5,392,269
Assets and Liabilities:
- Total Assets: $6,463,750
- Total Liabilities: $1,254,421
- Net Assets: $5,209,329
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOME OWNERSHIP FEES
Revenue
$4,672,563
RENTAL INCOME
Revenue
$92,596
Organization Details
Founding Year
1980
Phone
(203) 753-1896Principal Officer
Monroe Webster
Main Address
193 GRAND STREET, WATERBURY, CT, 06702
Website
www.nhswaterbury.orgNTEE Category
Code: L80Z - Housing
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