Overview
What is Nueva Esperanza Housing And Economic Development Corporation?
Nueva Esperanza Housing and Economic Development Corporation, based in North Philadelphia, Pennsylvania, is a nonprofit organization primarily focused on serving the Hispanic community. Its primary objective is to enhance the physical, economic, and social environment within the area bounded by Roosevelt Boulevard, 9th Street, Erie Avenue, and Front Street in Philadelphia. To achieve this, the corporation addresses the needs of low-income individuals, particularly in providing housing options, through rental and ownership programs. The organization also engages in community economic development activities on a not-for-profit and charitable basis. Its mission is to transform Hunting Park into a vibrant destination and model neighborhood by empowering its community, fostering engagement, promoting development, and enhancing education.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84%, Three-Star out of Four Star Rating
Nueva Esperanza Housing and Economic Development Corporation has achieved an 84% score, indicating a solid performance in accountability and finance. The charity is noted for having a majority of independent board members, with 71% independence, which contributes positively to its governance. Additionally, the organization maintains comprehensive policies for conflict of interest, whistleblower protections, and document retention, reflecting strong operational oversight.
Financially, the organization shows a high program expense ratio of 95.02%, denoting that a significant portion of its resources is directed toward its programs rather than administrative costs. However, the liabilities to assets ratio stands at 63.62%, suggesting that the organization may face financial obligations that could impact its sustainability in the long term.
Overall, Nueva Esperanza demonstrates robust accountability practices and a commitment to its mission, though potential stakeholders should consider the implications of its liabilities when evaluating its financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Nueva Esperanza Housing And Economic Development Corporation legitimate?
Nueva Esperanza Housing And Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nueva Esperanza Housing And Economic 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: $110,003
Professional Fundraising Fees: $0
Other Salaries and Wages: $343,322
For more financial information, click here
What is the mission statement of Nueva Esperanza Housing And Economic Development Corporation?
Nueva Esperanza Housing and Economic Development Corporation's mission is to enhance the living conditions of lower-income individuals by constructing, renovating, and improving facilities. This is achieved through rental and homeownership programs, as well as community economic development initiatives. The organization's primary goal is to improve the physical, economic, and social environment of a specific area, focusing on addressing the needs of the local community. NEHED aims to transform a designated neighborhood into a thriving and model community by empowering its people, fostering community engagement, promoting economic and physical development, and encouraging education.
Who is the CEO of Nueva Esperanza Housing And Economic Development Corporation?
Artemio Rodriguez is the Board Chair - Member of Nueva Esperanza Housing And Economic Development Corporation.
What is the revenue of Nueva Esperanza Housing And Economic Development Corporation?
Nueva Esperanza Housing And Economic Development Corporation's revenue in 2022 was $1,212,448.
Who are the executives of Nueva Esperanza Housing And Economic Development Corporation and what are their salaries?
The average compensation at Nueva Esperanza Housing And Economic Development Corporation during 2022 was $45,332. There are 10 employees and 3 volunteers at Nueva Esperanza Housing And Economic Development Corporation.
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $344,391
- Other: $77,709
- Compensation: $0
- Related: $230,335
- Other: $46,475
- Compensation: $0
- Related: $167,170
- Other: $21,659
- Compensation: $92,151
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Nueva Esperanza Housing And Economic Development Corporation?
Nueva Esperanza Housing And Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Nueva Esperanza Housing And Economic Development Corporation
Nueva Esperanza Housing and Economic Development Corporation, a non-profit organization, is dedicated to improving the living conditions of lower-income individuals in its community. With a primary focus on the Hispanic population of North Philadelphia, the corporation aims to enhance the physical, economic, and social environment within a specified area. To achieve this, Nueva Esperanza engages in various activities, including the provision of affordable housing options through rental and homeownership programs. Their mission extends beyond physical improvement, as they are also committed to fostering community engagement, economic development, and education within the area. By empowering its people and addressing their needs, the organization strives to transform the neighborhood of Hunting Park into a model community, improving the quality of life for its residents.
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Impact
October, 2024
Nueva Esperanza Housing And Economic Development Corporation plays a crucial role in enhancing the quality of life for lower-income individuals and families in North Philadelphia, particularly within the Hispanic community. By building, rehabilitating, and improving housing facilities, it ensures that affordable and quality rental and homeownership options are accessible to those in need.
The organization focuses on a defined area in Hunting Park, aiming to address the physical, economic, and social challenges faced by residents. Through community engagement and empowerment initiatives, Nueva Esperanza fosters a sense of belonging and ownership among community members, encouraging them to participate actively in neighborhood development.
Their approach encompasses not only housing but also broader economic development efforts that aim to transform local infrastructure, creating a vibrant, attractive community that serves as a model for others. Education programs are also pivotal, empowering residents with the knowledge and skills necessary to improve their circumstances and contribute to the community's overall growth.
Overall, Nueva Esperanza is instrumental in shaping a future where the Hunting Park area is not only livable but thrives as a destination, uplifting its residents and promoting sustainable development.
This information is meant to be a general summary of Nueva Esperanza Housing And Economic 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: $68,428
- Gross Receipts: $1,212,448
Assets and Liabilities:
- Total Assets: $3,759,474
- Total Liabilities: $1,392,353
- Net Assets: $2,367,121
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$68,428
Organization Details
Founding Year
1998
Phone
(215) 324-0746Principal Officer
Artemio Rodriguez
Main Address
4261 North 5th Street, Philadelphia, PA, 19140
NTEE Category
Code: L20 - Housing
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