Overview
What is Nef Community Investments Inc?
Nef Community Investments Inc, based in Chicago, Illinois, serves a crucial role as the general partner or managing member in low-income housing investment partnerships. They acquire, own, construct, rehabilitate, and operate these projects through various limited liability companies. In addition, they provide asset management services to support these investments. The organization's mission is to help National Equity Fund, Inc. develop and preserve high-quality, low-income rental housing by establishing and managing funds that attract investment capital for eligible housing projects. These investments are facilitated through the acquisition of limited partnership or non-managing member interests in project partnerships or project limited liability companies.
What are the reviews and ratings of this charity?
Nef Community Investments Inc is not currently rated by Charity Navigator, primarily because it is not registered as a 501(c)(3) nonprofit with the IRS, which is a requirement for evaluation. The absence of a rating should not be interpreted negatively or positively, as it reflects the current scope and limitations of the methodologies applied by Charity Navigator.
Historically, Charity Navigator's ratings focused on aspects of accountability and finance but did not evaluate areas like leadership or community impact. Nef Community Investments Inc remains independent and its foundation status falls outside the remit traditionally covered by the Charity Navigator's methodologies.
User reviews from GreatNonprofits are unavailable, and thus, no direct feedback from individuals who have interacted with the organization is accessible for providing further insight into their operations or community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Nef Community Investments Inc legitimate?
Nef Community Investments Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. Nef Community Investments 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Nef Community Investments Inc?
Nef Community Investments Inc plays a crucial role in facilitating the creation and preservation of high-quality, affordable rental housing for low-income individuals. They accomplish this by managing investments in eligible projects and establishing investment funds that attract capital for housing developments qualifying for Low-Income Housing Tax Credits. In their capacity as general partner or managing member, they oversee investor limited partnerships and limited liability companies that acquire interests in project partnerships or project limited liability companies. Nef Community Investments Inc also provides and offers asset management services to support investments in these low-income housing projects.
Who is the CEO of Nef Community Investments Inc?
Matthew Reilein is the President & Ceo (& Director) of Nef Community Investments Inc. The CEO's salary of Nef Community Investments Inc is $0 and their total compensation is $1,028,462.
What is the revenue of Nef Community Investments Inc?
Nef Community Investments Inc's revenue in 2022 was $69,815,195.
Who are the executives of Nef Community Investments Inc and what are their salaries?
Here are 9 key members and their salaries (Nef Community Investments Inc's CEO's salary is $0 and their total compensation is $1,028,462):
- Compensation: $0
- Related: $672,368
- Other: $39,073
- Compensation: $0
- Related: $661,733
- Other: $59,847
- Compensation: $0
- Related: $963,963
- Other: $64,499
- Compensation: $0
- Related: $735,910
- Other: $62,605
- Compensation: $0
- Related: $525,167
- Other: $55,731
- Compensation: $0
- Related: $606,662
- Other: $58,983
- Compensation: $0
- Related: $637,721
- Other: $55,242
- Compensation: $0
- Related: $459,568
- Other: $54,800
- Compensation: $0
- Related: $483,519
- Other: $57,889
Where can I find the form 990 for Nef Community Investments Inc?
Nef Community Investments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Nef Community Investments Inc
Nef Community Investments, Inc. plays a crucial role in the development and preservation of high-quality, affordable rental housing for low-income communities. This mission-driven organization works in tandem with National Equity Fund, Inc. to establish and manage investment funds that attract capital for projects eligible for Low-Income Housing Tax Credits. By serving as the general partner or managing member of various limited liability companies, Nef Community Investments, Inc. facilitates the acquisition of limited partner or non-managing member interests in project partnerships and project limited liability companies. These entities, in turn, acquire, own, construct, rehabilitate, and operate low-income housing projects.
Moreover, Nef Community Investments, Inc. provides essential asset management services to support these investments in low-income housing projects. The organization's expertise lies in its ability to effectively manage these projects and ensure that they meet the necessary standards for affordable housing. By taking on this role, Nef Community Investments, Inc. contributes significantly to the provision of safe and comfortable homes for individuals and families in need. The organization's commitment to the development and preservation of high-quality, affordable housing is a vital step towards addressing the unmet housing needs of low-income communities.
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Impact
October, 2024
Nef Community Investments Inc plays a crucial role in the development and preservation of high-quality low-income rental housing. By managing investments in qualifying projects, they ensure that resources are effectively allocated to create and maintain affordable housing options. Serving as the general partner and managing member for various limited liability companies, the organization facilitates strategic investments in partnership with other entities, promoting projects that construct, rehabilitate, and operate low-income housing.
Through its asset management services, Nef Community Investments Inc provides essential support to these investments, helping to optimize their performance and impact. By attracting capital through investment funds that qualify for low-income housing tax credits, the organization significantly contributes to the availability of affordable housing in underserved communities. Their efforts not only address the immediate need for low-income housing but also enhance the overall quality and sustainability of these vital resources in the housing market.
This information is meant to be a general summary of Nef Community Investments 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: $213,949
- Program Service Revenue: $69,601,246
- Gross Receipts: $69,815,195
Assets and Liabilities:
- Total Assets: $59,322,474
- Total Liabilities: $1,083,739
- Net Assets: $58,238,735
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INC HOUSING REVENUE
Revenue
$69,601,246
Organization Details
Founding Year
1998
Phone
(312) 360-0400Principal Officer
Matthew Reilein
Main Address
10 S RIVERSIDE PLAZA SUITE 1700, CHICAGO, IL, 60606
NTEE Category
Code: L20 - Housing
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