Overview
What is Neighborhood Housing Services Of Chicago Inc?
Neighborhood Housing Services of Chicago Inc., abbreviated as NHS, is a nonprofit organization committed to transforming underinvested neighborhoods and improving the lives of low- to moderate-income communities in the Chicago region. They provide various services, including community building, counseling, education, policy development, and real estate development and lending. Their work is primarily focused on preparing new homeowners for success, connecting residents to available resources, developing resident leaders, and building community partnerships. NHS offers counseling and education services to potential homebuyers, foreclosure intervention services, financial coaching, and educational workshops. They also support the preservation, repair, and improvement of residential housing by connecting residents to loan and grant opportunities. With a team of 82 employees, NHS serves over 4,900 households and provides resources citywide in Chicago, with neighborhood-based offices in various locations.
Official website here: www.nhschicago.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 51% (One-Star out of Four Star rating)
Neighborhood Housing Services Of Chicago Inc received a One-Star rating, reflecting significant concerns in its accountability and financial management. While the organization boasts a strong culture and community score of 83, indicating good engagement with its mission and constituents, it struggles with financial efficiency, evidenced by a low program expense ratio of 41.65% and a concerning liabilities to assets ratio of 99.16%. These factors suggest that the organization may not be utilizing its resources effectively to further its programs.
On the positive side, the organization has a fully independent board, with 100% of its members free from conflicts of interest, which is a strong indicator of governance quality. Additionally, it has robust policies in place for oversight, including an audit committee and various compliance measures. These strengths are essential for building trust with stakeholders and ensuring accountability.
However, the financial indicators raise red flags about sustainability and operational effectiveness. The organization's fundraising efficiency ratio of $0.18 implies that a significant portion of funds raised may not be going directly to programmatic efforts, which could impact its long-term viability. Overall, while Neighborhood Housing Services Of Chicago Inc shows promise in governance and community engagement, serious financial concerns need to be addressed to improve its overall impact.
This AI summary has been generated from information found on Charity Navigator.
Is Neighborhood Housing Services Of Chicago Inc legitimate?
Neighborhood Housing Services Of Chicago Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Neighborhood Housing Services Of Chicago 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: $708,287
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,431,525
For more financial information, click here
Official website here: www.nhschicago.org
What is the mission statement of Neighborhood Housing Services Of Chicago Inc?
Neighborhood Housing Services of Chicago Inc is a housing and community development organization that aims to improve neighborhoods by offering community building, counseling, education, policy, and real estate development and lending services. Their mission is to provide opportunities for individuals to live in affordable homes, enhance their lives, and strengthen their communities. To fulfill this mission, they employ various strategies, including educating and preparing new homeowners for success, offering foreclosure intervention services, financial coaching, and educational workshops. They also connect residents to available resources such as home purchase and improvement loans and public grant opportunities to preserve, repair, and improve residential housing. Additionally, they support resident leaders in targeted communities and build partnerships with various stakeholders to foster community development.
Official website here: www.nhschicago.org
Who is the CEO of Neighborhood Housing Services Of Chicago Inc?
Dwayne Shipp is the Interim Chairperson of Neighborhood Housing Services Of Chicago Inc. The CEO's salary of Neighborhood Housing Services Of Chicago Inc is $204,715 and their total compensation is $227,573.
Official website here: www.nhschicago.org
What is the revenue of Neighborhood Housing Services Of Chicago Inc?
Neighborhood Housing Services Of Chicago Inc's revenue in 2022 was $4,608,937.
Official website here: www.nhschicago.org
Who are the executives of Neighborhood Housing Services Of Chicago Inc and what are their salaries?
The average compensation at Neighborhood Housing Services Of Chicago Inc during 2022 was $38,290. There are 82 employees and 275 volunteers at Neighborhood Housing Services Of Chicago Inc.
Here are 19 key members and their salaries (Neighborhood Housing Services Of Chicago Inc's CEO's salary is $204,715 and their total compensation is $227,573):
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- Other: $11,030
- Compensation: $204,715
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- Other: $22,858
Official website here: www.nhschicago.org
Where can I find the form 990 for Neighborhood Housing Services Of Chicago Inc?
Neighborhood Housing Services Of Chicago Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nhschicago.org
Learn more at the official website: www.nhschicago.org
Mission Statement of Neighborhood Housing Services Of Chicago Inc
Neighborhood Housing Services of Chicago Inc, a housing and community development organization, strives to transform neighborhoods by employing community building, counseling, education, policy, and real estate development and lending. Their mission is centered around creating opportunities for individuals to reside in affordable homes, improve their lives, and strengthen their communities. To achieve this, Neighborhood Housing Services of Chicago Inc deploys a range of products, services, and strategies.
Primarily, they educate and prepare new homeowners for success, offering foreclosure intervention services, financial coaching, and educational workshops. Their goal is to sustain homeownership for these individuals. Furthermore, they connect residents to available resources such as home purchase and improvement loans, and public grant opportunities to encourage the preservation, repair, and improvement of residential housing.
Additionally, Neighborhood Housing Services of Chicago Inc supports resident leaders in targeted geographies, aiming to develop and sustain powerful and enduring community partnerships. These partnerships encompass community residents, government, financial institutions, private sector partners, and other community-based partners, all working together to improve their neighborhoods.
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Impact
October, 2024
Neighborhood Housing Services of Chicago Inc. (NHS) plays a crucial role in transforming neighborhoods and improving the quality of life for residents in Chicago. By focusing on low- and moderate-income communities, NHS addresses systemic issues in housing and community development through a multi-faceted approach that includes counseling, education, policy advocacy, and real estate development.
With neighborhood offices strategically located in areas such as Auburn Gresham, Englewood, and North Lawndale, NHS serves over 4,900 households, with approximately 80% of clients falling within low- to moderate-income brackets. The organization equips potential homeowners with the knowledge and resources necessary for successful homeownership. In the past year, NHS provided classroom education to over 1,500 aspiring homebuyers and offered one-on-one pre-purchase counseling to more than 1,100 individuals, significantly enhancing their ability to navigate the complexities of homebuying.
Moreover, NHS is proactive in stabilizing existing homeowners at risk of foreclosure, having intervened with approximately 969 individuals facing this threat. Their services not only aim to prevent loss of housing but also empower communities to sustain homeownership and promote financial stability.
Through its innovative partnerships and community engagement strategies, NHS builds strong relationships between residents, governmental bodies, and financial institutions. By fostering resident leadership and encouraging collaboration across various sectors, NHS strengthens community ties and builds collective power. This collaborative approach helps to secure public grants and facilitates access to home improvement loans, ensuring that residents can preserve and enhance their living environments.
NHS's commitment to adapting to the evolving needs of Chicago’s neighborhoods and its focus on education, resources, and community building collectively contribute to a more equitable landscape in housing, significantly impacting the community’s ability to thrive and grow.
This information is meant to be a general summary of Neighborhood Housing Services Of Chicago 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: $14,203
- Program Service Revenue: $1,677,098
- Gross Receipts: $4,703,600
Assets and Liabilities:
- Total Assets: $8,439,088
- Total Liabilities: $10,296,906
- Net Assets: -$1,857,818
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACTUAL SERVICES
Revenue
$1,677,098
Organization Details
Founding Year
1975
Phone
(773) 329-4010Principal Officer
Dwayne Shipp
Main Address
1279 N MILWAUKEE AVE, CHICAGO, IL, 60622
Website
www.nhschicago.orgNTEE Category
Code: L200 - Housing
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