Overview
What is Nw Homestart Inc?
Nw Homestart Inc, located in Freeport, Illinois, is a dedicated nonprofit organization that aims to foster vibrant and healthy communities in Northern Illinois. Their mission revolves around connecting individuals and families to beneficial and affordable housing resources, and spearheading community-based solutions to local challenges. In practical terms, they provide assistance to families facing foreclosure, helping them find positive resolutions. In 2021, Nw Homestart Inc managed to assist 6 families in avoiding foreclosure, and also offered home rehabilitation grants to 6 families in Rockford and Belvidere. Despite the foreclosure moratorium and forbearance offers by lenders, they continued to offer one-on-one sessions to those in need. The organization is led by a team of 16 employees, demonstrating a strong commitment to their cause.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
Nw Homestart Inc has achieved a strong Four-Star rating from Charity Navigator, reflecting its high performance in accountability and finance. This rating is primarily based on a comprehensive assessment of its financial practices, which includes an impressive score of 94 in Accountability & Finance. The organization demonstrates a commitment to transparency with an independent board, effective financial oversight, and no reported material diversion of assets.
User feedback highlights the positive impact of Nw Homestart in the community, particularly in the Rockford area. Clients and board members have praised the organization for its dedication to building leadership and improving neighborhoods through affordable housing and foreclosure prevention initiatives. The merger of two nonprofit organizations has further strengthened its capabilities and outreach, allowing for a more significant positive influence within the community.
However, while the financial ratings are robust, the organization has not been extensively reviewed by a broader audience. Continued engagement with clients and stakeholders may provide more insights into its operational effectiveness and community impact in the long term.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Nw Homestart Inc legitimate?
Nw Homestart Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nw Homestart 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: $67,520
Professional Fundraising Fees: $0
Other Salaries and Wages: $349,905
For more financial information, click here
What is the mission statement of Nw Homestart Inc?
Nw Homestart Inc's mission is centered around enhancing communities in northern Illinois. They achieve this by linking individuals and families with beneficial and affordable housing resources. Moreover, the organization takes the lead in implementing community-driven solutions to tackle local challenges. Their activities are geared towards preserving home ownership by assisting families facing foreclosure, providing one-on-one sessions, and helping them find positive resolutions. In 2021, Homestart assisted six families in avoiding foreclosure and six families with home rehabilitation grants in Rockford and Belvidere.
Who is the CEO of Nw Homestart Inc?
Claire Rees is the President/Tr of Nw Homestart Inc.
What is the revenue of Nw Homestart Inc?
Nw Homestart Inc's revenue in 2021 was $824,568.
Who are the executives of Nw Homestart Inc and what are their salaries?
The average compensation at Nw Homestart Inc during 2021 was $26,089. There are 16 employees and 32 volunteers at Nw Homestart Inc.
Here are 16 key members and their salaries:
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- Compensation: $67,370
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Where can I find the form 990 for Nw Homestart Inc?
Nw Homestart Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Nw Homestart Inc
Nw Homestart Inc, a nonprofit organization, is dedicated to fostering vibrant and healthy communities in Northern Illinois. They achieve this mission by connecting individuals and families with beneficial and affordable housing resources. Moreover, Nw Homestart Inc leads community-based solutions to address local challenges.
In a nutshell, Nw Homestart Inc serves as a bridge between those in need of housing assistance and the resources required to secure and maintain their homes. By doing so, they contribute to the well-being of their communities, ensuring stable living environments for its inhabitants.
One of Nw Homestart Inc's key initiatives is home ownership preservation. They assist families who are at risk of foreclosure, working with them to find favorable solutions to their predicament. Despite the foreclosure moratorium and lender forbearances in 2021, Nw Homestart Inc was still available to provide one-on-one sessions, assisting six families in avoiding foreclosure. Furthermore, they also helped six families with home rehabilitation grants in Rockford and Belvidere.
In summary, Nw Homestart Inc is a vital resource for individuals and families seeking housing assistance in Northern Illinois. By connecting them to beneficial and affordable housing resources, and leading community-based solutions to local challenges, they strive to create and maintain vibrant, healthy communities.
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Impact
October, 2024
Nw Homestart Inc plays a critical role in fostering vibrant and healthy communities in Northern Illinois by connecting individuals and families to essential housing resources. Their work directly impacts the stability of families facing housing challenges, particularly those at risk of foreclosure. By offering personalized assistance, Nw Homestart helps families navigate complex situations, finding positive resolutions to their financial difficulties.
In 2021, the organization provided crucial support to six families, helping them avoid foreclosure and maintain their homes. In addition, Nw Homestart extended its impact by assisting another six families with home rehabilitation grants, improving living conditions in both Rockford and Belvidere. These efforts not only preserve homeownership but also enhance community well-being and resilience, contributing to the overall health of the neighborhoods they serve. Through community-based solutions, Nw Homestart addresses local challenges and fosters a sense of security and belonging for residents in Northern Illinois.
This information is meant to be a general summary of Nw Homestart 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 2021.
- Investment Income: $572
- Program Service Revenue: $88,789
- Gross Receipts: $843,089
Assets and Liabilities:
- Total Assets: $1,557,352
- Total Liabilities: $365,824
- Net Assets: $1,191,528
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEES FOR SERVICES
Revenue
$83,252
LOAN FEES AND INTEREST
Revenue
$5,537
Organization Details
Founding Year
1997
Phone
(815) 232-6197Principal Officer
Claire Rees
Main Address
307 W MAIN ST, FREEPORT, IL, 610324219
NTEE Category
Code: L20 - Housing
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