Overview
What is Woonsocket Neighborhood Development Corporation?
Woonsocket Neighborhood Development Corporation, functioning under the name NeighborWorks Blackstone River Valley, is a dedicated nonprofit community development corporation. Their primary mission is to create affordable housing opportunities and enrich neighborhood life in the Blackstone River Valley region. In 2022, they continued the third and fourth phases of the Self-Housing Project, completing fifteen homes, and also advanced other real estate development projects with predevelopment work and funding. The corporation's employee count stands at 64 individuals.
Official website here: www.neighborworksbrv.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% - Three-Star out of Four Star rating
The Woonsocket Neighborhood Development Corporation has received a Three-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial transparency. With an overall score of 87%, the organization excels in key areas such as maintaining a fully independent board and having robust financial oversight. Their program expense ratio is impressive at 90.34%, indicating that the majority of their resources are directed towards their mission-driven activities.
Strengths noted include the presence of a comprehensive set of policies, including conflict of interest and whistleblower policies, along with excellent practices in financial documentation and governance. The organization has not reported any material diversion of assets, which underscores their integrity in financial dealings. Additionally, they have a solid working capital ratio of 2.04 years, suggesting good financial health and sustainability.
While the organization performs well in several aspects, the rating implies that there may still be room for improvement in areas not detailed in the data. However, the overall assessment points to a nonprofit that is effectively managing its resources and governance structure to fulfill its mission.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Woonsocket Neighborhood Development Corporation?
96% of 33 reviewers on Facebook recommend Woonsocket Neighborhood Development Corporation. Here is a summary of their reviews:
Many individuals praise the organization for its commitment to the community, highlighting the positive impact and significant efforts made by the staff. Reviewers often mention the warmth and dedication of the people involved, emphasizing their passion for improving the lives of those in the Blackstone River Valley.
Overall, the sentiment shows strong appreciation for the nonprofit, with individuals feeling optimistic about the services offered and the overall mission. Those who have interacted with the organization express confidence that it effectively addresses the needs of the community.
This AI summary has been generated from reviews found on Facebook.
Is Woonsocket Neighborhood Development Corporation legitimate?
Woonsocket Neighborhood Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Woonsocket Neighborhood Development Corporation 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: $153,632
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,613,824
For more financial information, click here
Official website here: www.neighborworksbrv.org
What is the mission statement of Woonsocket Neighborhood Development Corporation?
The Woonsocket Neighborhood Development Corporation, operating under the name NeighborWorks Blackstone River Valley, is committed to enhancing neighborhood life and making affordable housing opportunities available throughout the Blackstone River Valley. Their primary mission, as Woonsocket Neighborhood Development Corporation (WNDC), is to develop, manage, finance, and preserve decent, safe, and affordable housing for low-income families and individuals in the same region. In 2022, the organization continued its Self-Housing Project with the final fifteen homes and advanced several other real estate development projects through predevelopment work and project funding.
Official website here: www.neighborworksbrv.org
Who is the CEO of Woonsocket Neighborhood Development Corporation?
Joseph Garlick is the Executive Director of Woonsocket Neighborhood Development Corporation.
Official website here: www.neighborworksbrv.org
What is the revenue of Woonsocket Neighborhood Development Corporation?
Woonsocket Neighborhood Development Corporation's revenue in 2022 was $3,749,387.
Official website here: www.neighborworksbrv.org
Who are the executives of Woonsocket Neighborhood Development Corporation and what are their salaries?
The average compensation at Woonsocket Neighborhood Development Corporation during 2022 was $27,616. There are 64 employees and 10 volunteers at Woonsocket Neighborhood Development Corporation.
Here are 14 key members and their salaries:
- Compensation: $118,060
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- Other: $35,572
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Official website here: www.neighborworksbrv.org
Where can I find the form 990 for Woonsocket Neighborhood Development Corporation?
Woonsocket Neighborhood Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.neighborworksbrv.org
Learn more at the official website: www.neighborworksbrv.org
Mission Statement of Woonsocket Neighborhood Development Corporation
Woonsocket Neighborhood Development Corporation, doing business as NeighborWorks Blackstone River Valley (WNDC), is a nonprofit community development corporation committed to enriching neighborhood life and providing affordable housing opportunities throughout the Blackstone River Valley. Their primary purpose is to develop, own, manage, finance, and preserve decent, safe, and affordable housing for low-income families and individuals in the region. By undertaking various real estate development projects and initiatives, WNDC works towards making affordable housing a reality for numerous families and individuals, contributing significantly to community development efforts.
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Impact
October, 2024
Woonsocket Neighborhood Development Corporation (WNDC) significantly enhances community life in the Blackstone River Valley through its focused efforts in real estate development and affordable housing initiatives. By collaborating with residents, businesses, and community institutions, WNDC works to enrich neighborhood environments and create opportunities for low-income families and individuals.
In 2022, WNDC continued to make strides in its self-housing project, completing the final fifteen homes in the third and fourth phases of development. This ongoing project not only addresses the critical need for affordable housing but also fosters a sense of community and stability among residents. Additionally, the corporation has been proactive in developing a pipeline of other real estate projects, advancing predevelopment work, and actively fundraising to support these initiatives.
Through these comprehensive efforts, WNDC plays a pivotal role in improving access to safe, decent, and affordable housing, directly impacting the quality of life for many in the Woonsocket area and the broader Blackstone River Valley region.
This information is meant to be a general summary of Woonsocket Neighborhood Development Corporation. 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: $390,021
- Gross Receipts: $3,749,387
Assets and Liabilities:
- Total Assets: $27,502,471
- Total Liabilities: $21,515,196
- Net Assets: $5,987,275
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESIDENT AND PROGRAM S
Revenue
$162,470
DEVELOPER FEES
Revenue
$124,989
PROJECT REIMBURSEMENTS
Revenue
$72,823
RENTAL INCOME
Revenue
$29,739
Organization Details
Founding Year
1987
Phone
(401) 762-0993Principal Officer
Joseph Garlick
Main Address
719 FRONT STREET 103, WOONSOCKET, RI, 02895
Website
www.neighborworksbrv.orgNTEE Category
Code: L800 - Housing
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