Overview
What is New Opportunities Community Housing Development Corp?
New Opportunities Community Housing Development Corp, based in Buffalo, New York, is a nonprofit organization dedicated to promoting homeownership opportunities for individuals with modest incomes. Their primary mission is to either acquire and renovate, or construct, single-family homes, thereby contributing to affordable housing within the Western New York region. This commitment to decent and reasonably priced housing reflects their goal of bettering the living conditions for those who fall under the low and moderate income category.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 38%, Zero-Star out of Four Star rating.
New Opportunities Community Housing Development Corp has received a low score from Charity Navigator, indicating significant challenges in its accountability and financial practices. The rating is based entirely on one beacon score, which highlights the lack of independent board members, absence of key policies such as conflict of interest and whistleblower policies, and an incomplete transparency in its online presence.
Despite these issues, the nonprofit does demonstrate strength in its program expenses, achieving a high ratio of 83.93%. This suggests that the majority of its funds are directed towards its programs rather than administrative costs. However, the organization's lack of financial oversight and missing documentation on its website raises concerns about its governance and operational integrity.
Overall, while the organization appears to be effective in its program delivery, the severe deficiencies in governance and transparency are significant drawbacks that potential donors and supporters should consider. Improvements in these areas would be essential for building trust and enhancing its operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is New Opportunities Community Housing Development Corp legitimate?
New Opportunities Community Housing Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Opportunities Community Housing Development Corp 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: $0
For more financial information, click here
What is the mission statement of New Opportunities Community Housing Development Corp?
The mission of New Opportunities Community Housing Development Corp is centered around providing decent and affordable housing options for individuals with low and moderate income. This organization actively works towards acquiring, rehabilitating, or constructing single-family homes, thereby creating prospects for home ownership in this income bracket. Their primary goal is to contribute positively to the housing needs of this particular demographic.
What is the revenue of New Opportunities Community Housing Development Corp?
New Opportunities Community Housing Development Corp's revenue in 2024 was $8,872.
Who are the executives of New Opportunities Community Housing Development Corp and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $148,067
- Other: $7,470
- Compensation: $0
- Related: $135,523
- Other: $13,283
- Compensation: $0
- Related: $196,021
- Other: $25,080
- Compensation: $0
- Related: $41,156
- Other: $9,456
- Compensation: $0
- Related: $151,821
- Other: $7,620
- Compensation: $0
- Related: $55,751
- Other: $7,518
Where can I find the form 990 for New Opportunities Community Housing Development Corp?
New Opportunities Community Housing Development Corp's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of New Opportunities Community Housing Development Corp
New Opportunities Community Housing Development Corp is committed to a mission of providing decent and affordable housing opportunities for individuals with low and moderate income in their respective communities. This nonprofit organization actively works towards acquiring, rehabilitating, or constructing single-family homes to establish homeownership prospects for those in need. By undertaking such projects, New Opportunities Community Housing Development Corp aims to make a significant impact on the lives of those who may otherwise struggle to secure suitable housing, thereby contributing to a more equitable society.
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Impact
August, 2024
New Opportunities Community Housing Development Corp has a significant impact on the Western New York community by providing decent and affordable housing options to low and moderate-income individuals. Through their efforts in acquiring, rehabilitating, and constructing single-family homes, they have enabled many individuals to achieve home ownership opportunities that might have otherwise been out of reach. By addressing the housing needs of this population, New Opportunities Community Housing Development Corp contributes to creating stable and thriving communities in Buffalo, NY.
This information is meant to be a general summary of New Opportunities Community Housing Development Corp. 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 2024.
- Investment Income: $3,501
- Program Service Revenue: $4,450
- Gross Receipts: $8,872
Assets and Liabilities:
- Total Assets: $1,209,578
- Total Liabilities: $953,450
- Net Assets: $256,128
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEES
Revenue
$4,450
Organization Details
Founding Year
1993
Principal Officer
Michael Riegel
NTEE Category
Code: L20 - Housing
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