Overview
What is Bristol Neighborhood Development Corp?
Bristol Neighborhood Development Corp is a nonprofit organization situated in Bristol, Connecticut. Their primary mission is to promote and facilitate the development and redevelopment of public housing and the revitalization of blighted properties within the city. This involves owning and managing 22 residential units that are leased to low and moderate-income families. By providing affordable housing, the organization strives to contribute to the stability of the city by restoring neglected properties. With a small team of one employee, Bristol Neighborhood Development Corp plays a significant role in enhancing the living conditions of local residents.
Official website here: www.bndco.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
Bristol Neighborhood Development Corp has received an 88% score from Charity Navigator, translating to a Three-Star rating. This score is derived solely from its Accountability & Finance metrics, indicating a strong emphasis on responsible financial management and governance practices. The organization benefits from having a fully independent board, effective financial oversight, and a high program expense ratio, reflecting its commitment to utilizing funds for mission-related activities.
Notable strengths include the charity's compliance with several accountability standards, such as having no material diversion of assets and maintaining transparency through documented board meeting minutes. However, there are areas needing improvement; specifically, the absence of whistleblower and document retention policies has been highlighted, which could impact overall governance effectiveness if not addressed.
While the organization demonstrates solid accountability and transparency, the lack of certain policies suggests room for enhancement in governance practices. Overall, Bristol Neighborhood Development Corp shows a strong performance in financial management but should consider implementing additional governance measures to bolster its operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Bristol Neighborhood Development Corp legitimate?
Bristol Neighborhood Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bristol Neighborhood 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: $35,242
For more financial information, click here
Official website here: www.bndco.net
What is the mission statement of Bristol Neighborhood Development Corp?
The Bristol Neighborhood Development Corp is dedicated to providing affordable housing solutions for low and moderate-income families. One of their primary objectives is to contribute to the stabilization of their community by refurbishing dilapidated properties. In line with this mission, they facilitate the development and redevelopment of public housing and rehabilitate blighted properties within their city. The corporation also manages 22 residential units, which are leased to families within the specified income bracket.
Official website here: www.bndco.net
Who is the CEO of Bristol Neighborhood Development Corp?
Mitzy Rowe is the Chair of Bristol Neighborhood Development Corp.
Official website here: www.bndco.net
What is the revenue of Bristol Neighborhood Development Corp?
Bristol Neighborhood Development Corp's revenue in 2022 was $728,473.
Official website here: www.bndco.net
Who are the executives of Bristol Neighborhood Development Corp and what are their salaries?
The average compensation at Bristol Neighborhood Development Corp during 2022 was $35,242. There is 1 employee and 5 volunteers at Bristol Neighborhood Development Corp.
Here are 5 key members and their salaries:
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- Other: $0
Official website here: www.bndco.net
Where can I find the form 990 for Bristol Neighborhood Development Corp?
Bristol Neighborhood Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bndco.net
Learn more at the official website: www.bndco.net
Mission Statement of Bristol Neighborhood Development Corp
Bristol Neighborhood Development Corp, a nonprofit organization, is committed to providing affordable housing solutions for low and moderate-income families. Their mission is twofold: firstly, they aim to stabilize cities by revitalizing blighted properties. This initiative involves rehabilitating these properties, transforming them into safe and livable spaces for families in need. Secondly, the organization manages 22 residential units, leasing them to families who fall within the low and moderate-income bracket. By offering affordable housing options, Bristol Neighborhood Development Corp contributes to the well-being of its community, ensuring that its inhabitants have stable living conditions and a sense of security. The organization's work is instrumental in promoting and facilitating the development and redevelopment of public housing, making a significant impact on the lives of many families.
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Impact
October, 2024
Bristol Neighborhood Development Corp plays a vital role in enhancing the quality of life for low and moderate-income families in Bristol. By focusing on the provision of affordable housing, the organization helps to ensure that these families have access to safe and stable living conditions.
In addition to offering residential units, it actively engages in the rehabilitation of blighted properties, contributing to the overall revitalization of the city. Through these efforts, the organization aids in stabilizing neighborhoods, combating urban decay, and improving the local community's aesthetic and economic vitality.
By managing 22 residential units and facilitating the development and redevelopment of public housing, Bristol Neighborhood Development Corp fosters a sense of community and belonging. Its commitment to affordable housing not only supports individual families but also plays a crucial role in the broader community improvement efforts throughout Bristol.
This information is meant to be a general summary of Bristol Neighborhood 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 2022.
- Investment Income: $261,301
- Program Service Revenue: $275,127
- Gross Receipts: $1,181,475
Assets and Liabilities:
- Total Assets: $3,080,514
- Total Liabilities: $518,403
- Net Assets: $2,562,111
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$275,127
Organization Details
Founding Year
2008
Phone
(860) 585-2033Principal Officer
Mitzy Rowe
Main Address
31 QUAKER LANE SUITE 2, BRISTOL, CT, 06010
Website
www.bndco.netNTEE Category
Code: S30 - Community improvement
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