Overview
What is Neighborhood Development Corporation?
Neighborhood Development Corporation is a nonprofit organization based in Akron, Ohio, specifically located at 662 Wolf Ledges Parkway. Their primary mission is to offer housing assistance to eligible low-income individuals and families, enabling them to secure safe and affordable housing. This mission is achieved through housing payments, demonstrating innovative techniques, materials, and building layouts in both construction and rehabilitation projects. The organization's purpose extends beyond providing affordable housing, as they strive to showcase innovative housing concepts and approaches.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 60%, Two-Star out of Four Star Rating
The Neighborhood Development Corporation has received a Two-Star rating from Charity Navigator, reflecting a 60% score primarily driven by its Accountability & Finance metrics. While the organization demonstrates strong governance with 100% independent board members and a high program expense ratio, indicating a commitment to its mission, it falls short in several critical financial transparency areas, particularly the absence of financial statements.
Strengths of the organization include a solid board structure and an effective conflict of interest policy, alongside proper documentation of board meeting minutes. Additionally, the corporation has effectively demonstrated a commitment to utilizing its funds for programming, with a program expense ratio of 92.96%. However, the lack of financial statements and missing policies, such as those for whistleblowing and document retention, raise concerns regarding its overall accountability.
Ultimately, while the Neighborhood Development Corporation shows promise with its governance and programmatic focus, the significant gaps in financial reporting and transparency hinder its overall score. This suggests that potential donors and stakeholders may want to seek further information about its financial health and operational practices before contributing or engaging with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Neighborhood Development Corporation legitimate?
Neighborhood Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $513,866
For more financial information, click here
What is the mission statement of Neighborhood Development Corporation?
The Neighborhood Development Corporation's mission is centered around providing affordable housing options for individuals and families with lower income levels. The organization strives to achieve this by showcasing innovative techniques, materials, and building layouts in the construction and rehabilitation of these homes. By doing so, they aim to demonstrate the potential of these methods in the realm of housing and construction. The corporation also offers housing assistance payments to eligible individuals, enabling them to secure safe and economical housing solutions.
Who is the CEO of Neighborhood Development Corporation?
Albert Bragg Jr is the Executive Director of Neighborhood Development Corporation.
What is the revenue of Neighborhood Development Corporation?
Neighborhood Development Corporation's revenue in 2022 was $3,690,930.
Who are the executives of Neighborhood Development Corporation and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Neighborhood Development Corporation?
Neighborhood Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Neighborhood Development Corporation
Neighborhood Development Corporation, as a nonprofit organization, is committed to providing affordable and low-cost housing solutions. The corporation demonstrates innovative techniques, materials, and building layouts in its housing projects, construction, and renovations. Its mission is to make a significant impact in the housing sector by showcasing innovative methods and designs, thereby making housing more accessible and affordable for individuals and families who are financially disadvantaged. Through its housing assistance programs, the organization provides financial aid in the form of housing assistance payments to eligible low-income individuals and families, enabling them to secure safe and reasonably priced housing.
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Impact
October, 2024
Neighborhood Development Corporation significantly impacts the community by providing low and moderate-cost housing options. By focusing on innovative construction techniques, materials, and building layouts, the organization not only enhances the quality of housing but also promotes efficiency and sustainability in construction practices. The housing assistance programs offered enable eligible low-income individuals and families to access safe and affordable homes, improving their living conditions and overall quality of life. In Akron, Ohio, this initiative plays a crucial role in addressing housing needs and fostering community development.
This information is meant to be a general summary of 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: $3,479,527
- Gross Receipts: $3,690,930
Assets and Liabilities:
- Total Assets: $15,968,395
- Total Liabilities: $13,734,565
- Net Assets: $2,233,830
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM INCOME
Revenue
$186,786
RENTAL INCOME
Revenue
$2,695,292
DEVELOPMENT FEES
Revenue
$597,449
Organization Details
Founding Year
2000
Principal Officer
Albert Bragg Jr
Main Address
662 WOLF LEDGES PARKWAY, Akron, OH, 44311
NTEE Category
Code: L20Z - Housing
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