Overview
What is Neighborhoods Inc?
Neighborhoods Inc, identified as Neighborworks Lincoln, is a nonprofit organization based in Lincoln, Nebraska. Their primary mission is to revitalize neighborhoods and promote homeownership, thereby contributing to the overall safety and prosperity of the community. They offer a Home Buyer Services program, which includes a HUD-approved pre-purchase course, aimed at preparing individuals for home ownership. This educational program consists of four in-person classes. Neighborworks Lincoln also provides down payment assistance to aid low-to-moderate income borrowers with the necessary down-payment and closing costs. The organization's services extend to assisting home buyers within Lincoln's city limits, with special incentives, such as loan forgiveness, available for buyers purchasing in specific geographic areas. Currently, Neighborworks Lincoln is staffed by 14 dedicated individuals.
Official website here: www.nwlincoln.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Stars)
Neighborhoods Inc has achieved a commendable Four-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. The charity’s overall score is derived entirely from its Accountability & Finance score, demonstrating effective governance and financial management practices. This high rating signifies trustworthiness and responsible stewardship of resources.
The organization boasts a fully independent board, consisting of 18 members, which is a significant strength, as it ensures unbiased decision-making. Furthermore, it has received top scores in various governance aspects, including its audit and oversight committee and the presence of essential policies, such as conflict of interest and whistleblower protections. This level of transparency reinforces its commitment to ethical practices.
However, while the program expense ratio of 65.30% is decent, there is room for improvement in this area, suggesting that a larger portion of funds could be allocated directly to programs. Overall, Neighborhoods Inc showcases a solid financial structure and governance model, making it a reliable choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Neighborhoods Inc legitimate?
Neighborhoods Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Neighborhoods 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: $264,879
Professional Fundraising Fees: $0
Other Salaries and Wages: $374,207
For more financial information, click here
Official website here: www.nwlincoln.org
What is the mission statement of Neighborhoods Inc?
Neighborhoods Inc, through its NeighborWorks Lincoln branch, focuses on revitalizing neighborhoods and promoting homeownership. Their mission is to contribute to a safe and prosperous community by enhancing neighborhoods and supporting individuals in maintaining homeownership. They provide a HUD-approved pre-purchase course to prepare individuals for homeownership, offering a series of four in-person classes. Additionally, the organization offers down payment assistance to help eligible low-to-moderate income borrowers with required down-payments and closing costs. Home purchases can be made anywhere within the city limits, with special incentives, such as loan forgiveness, available for buyers in specific geographic areas.
Official website here: www.nwlincoln.org
Who is the CEO of Neighborhoods Inc?
Wayne Mortensen is the President of Neighborhoods Inc. The CEO's salary of Neighborhoods Inc is $125,000 and their total compensation is $128,750.
Official website here: www.nwlincoln.org
What is the revenue of Neighborhoods Inc?
Neighborhoods Inc's revenue in 2022 was $3,227,395.
Official website here: www.nwlincoln.org
Who are the executives of Neighborhoods Inc and what are their salaries?
The average compensation at Neighborhoods Inc during 2022 was $45,649. There are 14 employees and 450 volunteers at Neighborhoods Inc.
Here are 15 key members and their salaries (Neighborhoods Inc's CEO's salary is $125,000 and their total compensation is $128,750):
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- Compensation: $125,000
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- Other: $3,750
- Compensation: $73,190
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- Other: $10,645
Official website here: www.nwlincoln.org
Where can I find the form 990 for Neighborhoods Inc?
Neighborhoods Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nwlincoln.org
Learn more at the official website: www.nwlincoln.org
Mission Statement of Neighborhoods Inc
Neighborhoods Inc, as an organization, is committed to revitalizing neighborhoods and promoting homeownership in a community. Their mission is to keep Lincoln a safe and prosperous place by revitalizing its neighborhoods. This involves providing necessary resources and support to individuals seeking homeownership. Neighborhoods Inc offers a HUD-approved pre-purchase course designed to prepare individuals for home ownership. This is a series of four in-person classes aimed at equipping individuals with the necessary skills and knowledge for homeownership. Additionally, Neighborhoods Inc provides down payment assistance to low-to-moderate income borrowers. This aid helps qualified individuals meet the required down-payment and closing costs, making homeownership more accessible. The organization offers special incentives, including loan forgiveness, to buyers who purchase homes in specific geographic areas within Lincoln's city limits. Overall, Neighborhoods Inc works to improve the community by revitalizing neighborhoods and making homeownership more attainable.
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Impact
October, 2024
Neighborhoods Inc plays a pivotal role in revitalizing communities and enhancing homeownership in Lincoln, Nebraska. By offering a comprehensive Home Buyer Services program, it prepares individuals for the responsibilities of owning a home through a structured, four-class educational series that is HUD-approved. This program not only equips potential homeowners with essential knowledge but also provides down payment assistance that helps to alleviate the financial barriers faced by low-to-moderate income borrowers.
Additionally, the organization encourages investment in specific geographic areas of Lincoln by offering special incentives, including loan forgiveness, which fosters community development and stability. Through these efforts, Neighborhoods Inc is instrumental in ensuring that Lincoln remains a safe and prosperous community, empowering residents to achieve the dream of homeownership while revitalizing neighborhoods.
This information is meant to be a general summary of Neighborhoods 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: $11,624
- Program Service Revenue: $259,782
- Gross Receipts: $5,533,760
Assets and Liabilities:
- Total Assets: $9,546,765
- Total Liabilities: $853,457
- Net Assets: $8,693,308
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEES
Revenue
$186,970
MANAGEMENT FEES
Revenue
$42,000
LOAN AND EDUCATION FEES
Revenue
$30,812
Organization Details
Founding Year
1986
Phone
(402) 477-7181Principal Officer
Wayne Mortensen
Main Address
2530 Q ST, LINCOLN, NE, 685033538
Website
www.nwlincoln.orgNTEE Category
Code: L800 - Housing
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