Overview
What is Near East Area Renewal Inc?
Near East Area Renewal Inc, located in Indianapolis, Indiana, is a dedicated nonprofit organization with a mission to improve community living. They focus on acquiring and rehabilitating single-family homes on the Near East Side of Indianapolis, ultimately selling them to eligible families. Beyond housing, the organization works towards neighborhood renewal, creative placemaking, economic development, and environmental justice. Through collaborative efforts with neighbors, Near East Area Renewal Inc aims to address local quality of life challenges, creating great places for the community. The organization currently employs a team of four individuals.
Official website here: www.nearindy.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Near East Area Renewal Inc has achieved a commendable Four-Star rating from Charity Navigator, indicating strong performance in its accountability and financial practices. The organization received an impressive score of 96% in Accountability & Finance, signifying that it maintains transparency and effective management of resources. The rating reflects the charity's commitment to upholding high standards, with no material diversion of assets reported.
The nonprofit boasts a fully independent board, with all twelve members being independent, which enhances governance and decision-making. Furthermore, it has established robust financial oversight measures, including an audit committee and various policies related to conflict of interest and whistleblower protections, which are essential for fostering trust among stakeholders. The organization also demonstrates a healthy financial position, with a low liabilities-to-assets ratio of 6.44% and a strong program expense ratio of 77.09%, indicating that a significant portion of funds is directed towards its programs.
While the data reflects a strong operational framework, potential donors and stakeholders should continue to monitor the charity's activities and outcomes to ensure that the high standards indicated by its rating are consistently met over time. Overall, Near East Area Renewal Inc presents itself as a responsible and transparent organization dedicated to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Near East Area Renewal Inc legitimate?
Near East Area Renewal Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Near East Area Renewal 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: $87,985
Professional Fundraising Fees: $0
Other Salaries and Wages: $198,623
For more financial information, click here
Official website here: www.nearindy.org
What is the mission statement of Near East Area Renewal Inc?
Near East Area Renewal Inc, often referred to as NEAR, strives to foster community growth by creating exceptional living spaces in collaboration with neighbors. This mission is realized through various initiatives, including equitable housing, neighborhood renewal, creative placemaking, economic development, and environmental justice. NEAR engages with local communities and brings people together to tackle quality of life challenges collectively. The organization's work primarily focuses on acquiring and rehabilitating single-family homes in order to sell them to eligible families on the Near East Side of Indianapolis, contributing to the overall improvement of the community.
Official website here: www.nearindy.org
Who is the CEO of Near East Area Renewal Inc?
John Franklin Hay is the Director of Near East Area Renewal Inc.
Official website here: www.nearindy.org
What is the revenue of Near East Area Renewal Inc?
Near East Area Renewal Inc's revenue in 2023 was $600,174.
Official website here: www.nearindy.org
Who are the executives of Near East Area Renewal Inc and what are their salaries?
The average compensation at Near East Area Renewal Inc during 2023 was $71,652. There are 4 employees and 12 volunteers at Near East Area Renewal Inc.
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- Compensation: $78,896
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- Other: $7,515
Official website here: www.nearindy.org
Where can I find the form 990 for Near East Area Renewal Inc?
Near East Area Renewal Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.nearindy.org
Learn more at the official website: www.nearindy.org
Mission Statement of Near East Area Renewal Inc
Near East Area Renewal, often referred to as NEAR, is dedicated to uplifting communities by creating outstanding living spaces in partnership with local residents. This mission is accomplished through several avenues, including equitable housing, neighborhood revitalization, creative placemaking, economic development, and environmental justice. By collaborating with neighbors and bringing people together, NEAR addresses various challenges impacting the quality of life in these communities.
In essence, NEAR's mission is to foster a sense of belonging and improve living conditions by rehabilitating single-family homes in the Near East Side of Indianapolis. The organization gathers and coordinates resources to acquire and renovate these homes, eventually selling them to eligible families. This approach not only provides affordable housing options but also contributes to the overall renewal and enhancement of the neighborhoods where NEAR operates.
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Impact
July, 2024
Near East Area Renewal Inc's impact is significant in Indianapolis, particularly on the Near East Side. Through their work in acquiring and rehabilitating homes, they are actively contributing to neighborhood renewal and equitable housing opportunities. By bringing together neighbors and coordinating resources, NEAR is helping to create great places for families in the community. Their focus on economic development and environmental justice further enhances the quality of life in the area, making a tangible difference in the lives of residents.
This information is meant to be a general summary of Near East Area Renewal 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 2023.
- Investment Income: -$109,265
- Program Service Revenue: $61,296
- Gross Receipts: $1,675,498
Assets and Liabilities:
- Total Assets: $4,648,570
- Total Liabilities: $299,618
- Net Assets: $4,348,952
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEES
Revenue
$61,296
Organization Details
Founding Year
2003
Phone
(317) 941-6327Principal Officer
John Franklin Hay
Main Address
960 N RURAL STREET, INDIANAPOLIS, IN, 46201
Website
www.nearindy.orgNTEE Category
Code: L81 - Housing
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