Overview
What is Neighborhood Housing Services Of The Lehigh Valley Inc?
Neighborhood Housing Services Of The Lehigh Valley Inc, based in Reading, Pennsylvania, is a nonprofit organization committed to promoting affordable housing and home ownership. They administer the Home Ownership Outreach Program (HOOP) in several areas, assisting eligible first-time homebuyers with down payment and closing costs. The organization facilitates soft second and/or third liens against properties in Allentown and Lehigh County to secure loan repayment or forgiveness. Despite some past-due loans, their loan portfolio has remained strong, reflecting their continued success. Their mission is to enhance financial stability for families and individuals by creating and preserving opportunities for homeownership and decent, safe, and affordable housing. In 2022, they administered a single forgivable loan worth $2,800 for first-time homebuyers in Allentown or Lehigh County. Overall, Neighborhood Housing Services Of The Lehigh Valley Inc is dedicated to making homeownership accessible and affordable for all people in their community.
Official website here: www.nhslv.org
Is Neighborhood Housing Services Of The Lehigh Valley Inc legitimate?
Neighborhood Housing Services Of The Lehigh Valley Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Neighborhood Housing Services Of The Lehigh Valley 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:
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For more financial information, click here
Official website here: www.nhslv.org
What is the mission statement of Neighborhood Housing Services Of The Lehigh Valley Inc?
Neighborhood Housing Services Of The Lehigh Valley Inc's mission is centered around enhancing financial stability for families and individuals by offering programs and services. Their primary goal is to create and preserve opportunities for affordable housing and homeownership. They accomplish this through initiatives such as administering homebuyer mortgage programs and providing soft second and third liens to assist first-time homebuyers with down payments and closing costs. In 2022, they administered a forgivable loan of $2,800 in Allentown or Lehigh County. Despite some past-due loans, their loan portfolio remained robust relative to the national economy. Their activities contribute to making housing more accessible and affordable for various individuals.
Official website here: www.nhslv.org
Who is the CEO of Neighborhood Housing Services Of The Lehigh Valley Inc?
Stephen Gieringer is the President of Neighborhood Housing Services Of The Lehigh Valley Inc. The CEO's salary of Neighborhood Housing Services Of The Lehigh Valley Inc is $0 and their total compensation is $155,070.
Official website here: www.nhslv.org
What is the revenue of Neighborhood Housing Services Of The Lehigh Valley Inc?
Neighborhood Housing Services Of The Lehigh Valley Inc's revenue in 2022 was $86,685.
Official website here: www.nhslv.org
Who are the executives of Neighborhood Housing Services Of The Lehigh Valley Inc and what are their salaries?
There 19 volunteers at Neighborhood Housing Services Of The Lehigh Valley Inc.
Here are 20 key members and their salaries (Neighborhood Housing Services Of The Lehigh Valley Inc's CEO's salary is $0 and their total compensation is $155,070):
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- Related: $132,874
- Other: $22,196
Official website here: www.nhslv.org
Where can I find the form 990 for Neighborhood Housing Services Of The Lehigh Valley Inc?
Neighborhood Housing Services Of The Lehigh Valley Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nhslv.org
Learn more at the official website: www.nhslv.org
Mission Statement of Neighborhood Housing Services Of The Lehigh Valley Inc
Neighborhood Housing Services of the Lehigh Valley Inc is committed to enhancing the financial stability of families and individuals by offering programs and services that foster opportunities for affordable housing and homeownership. Their mission is multifaceted, aiming to provide affordable housing options and facilitate homeownership for all people.
To achieve this, Neighborhood Housing Services of the Lehigh Valley Inc administers the Home Ownership Outreach Program (HOOP) in various cities and counties. Their staff qualifies applicants for this mortgage program, which includes providing soft second and/or third liens against properties to secure loans for first-time homebuyers who fall within the approved low-to-moderate HUD income guidelines. These funds are primarily used to assist with down payments and closing costs, making homeownership more accessible for eligible individuals.
In their efforts to promote affordable housing and homeownership, Neighborhood Housing Services of the Lehigh Valley Inc also works to maintain a strong loan portfolio. Despite a higher number of past-due loans, they managed to keep their portfolio in good shape relative to the national economy. As of December 31, 2022, only six loans were past due, out of a total portfolio of 102 loans. This demonstrates their commitment to supporting homeowners and helping them navigate financial challenges.
In summary, Neighborhood Housing Services of the Lehigh Valley Inc is dedicated to enhancing the financial stability of families and individuals by providing programs and services that create and preserve opportunities for affordable housing and homeownership. Their mission is achieved through administering the HOOP program and offering financial assistance to eligible first-time homebuyers, while also maintaining a strong loan portfolio to support homeowners facing financial challenges.
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Impact
October, 2024
Neighborhood Housing Services of the Lehigh Valley Inc. plays a crucial role in enhancing the financial stability of families and individuals through various affordable housing initiatives. The organization actively facilitates programs that help make homeownership accessible, particularly for first-time buyers who meet low-to-moderate income guidelines.
In 2022, the organization successfully administered a forgivable loan program, enabling a first-time homebuyer to secure a total of $2,800 in assistance for purchasing a home in Allentown or Lehigh County. This critical financial support helps alleviate the burden of down payment and closing costs, which can be significant barriers for many aspiring homeowners. Furthermore, the organization has maintained a robust loan portfolio, reflecting its stability in a challenging economic landscape, with only a small number of loans past due.
Through programs such as the Home Ownership Outreach Program (HOOP), individuals in Allentown, Bethlehem, Easton, and surrounding areas benefit from targeted assistance designed to promote sustainable homeownership. The organization not only helps people achieve their dream of owning a home but also contributes to the overall health of the local housing market by creating opportunities for decent, safe, and affordable housing. This impact reverberates throughout the community, fostering financial security and promoting a sense of stability among families.
This information is meant to be a general summary of Neighborhood Housing Services Of The Lehigh Valley 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: $46,000
- Program Service Revenue: $40,522
- Gross Receipts: $86,685
Assets and Liabilities:
- Total Assets: $783,707
- Total Liabilities: $490,974
- Net Assets: $292,733
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MORTGAGE INTEREST
Revenue
$30,686
FEE REVENUE
Revenue
$9,836
Organization Details
Founding Year
1980
Phone
(610) 437-4571Principal Officer
Stephen Gieringer
Main Address
213 N 5TH STREET, READING, PA, 19601
Website
www.nhslv.orgNTEE Category
Code: L80Z - Housing
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