Overview
What is Neighborhood Housing Services Of Duluth One Roof Lending?
Neighborhood Housing Services of Duluth One Roof Lending is a nonprofit organization situated in Duluth, Minnesota, specifically at 12 EAST 4TH STREET. Their primary mission is to facilitate home ownership and preservation for individuals with lower income levels. They achieve this through various below-market-rate home renovation lending products, aiming to revitalize the aging housing stock in the community and ensure the success of lower income homeowners. In addition, One Roof also provides purchase assistance loans for income-qualified buyers who have attended homebuyer education classes and are purchasing within 30 miles of Duluth. Furthermore, on behalf of the City of Superior, Wisconsin, One Roof offers deferred loans to income-eligible households in that community. Individuals can access One Roof's lending services through their website or in person at their office. In 2022, One Roof deployed $1.9 million in new loans, contributing to the betterment of their community's housing situation.
Official website here: www.1roofhousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93%
Neighborhood Housing Services of Duluth One Roof Lending has achieved an impressive Four-Star out of Four Star rating from Charity Navigator, reflecting strong performance in accountability and finance. The organization scored 93% overall, indicating a robust financial health and transparency, which is critical for donor confidence and community trust.
The nonprofit boasts a fully independent board, with all eight members meeting the independence criteria, and a total of 15 independent board members, showcasing a commitment to governance and oversight. Furthermore, it has excellent scores in areas such as financial audits and conflict of interest policies, highlighting its dedication to ethical practices and thorough oversight mechanisms.
On the financial front, the organization reports a program expense ratio of 100%, indicating that all of its expenditures directly support its mission. However, while the liabilities to assets ratio is relatively healthy at 54.52%, this aspect could be monitored for long-term financial sustainability. Overall, the data suggests that Neighborhood Housing Services of Duluth One Roof Lending is a well-managed organization with a clear focus on its community goals.
This AI summary has been generated from information found on Charity Navigator.
Is Neighborhood Housing Services Of Duluth One Roof Lending legitimate?
Neighborhood Housing Services Of Duluth One Roof Lending is a legitimate nonprofit organization registered as a 501(c)(3) entity. Neighborhood Housing Services Of Duluth One Roof Lending 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: $18,509
Professional Fundraising Fees: $0
Other Salaries and Wages: $306,718
For more financial information, click here
Official website here: www.1roofhousing.org
What is the mission statement of Neighborhood Housing Services Of Duluth One Roof Lending?
Neighborhood Housing Services of Duluth One Roof Lending's mission is centered around providing financing solutions for individuals of lower income. This mission aims to assist these individuals in finding, purchasing, and improving their homes, applicable to both single-family homes and rental housing situations. The organization offers a variety of below-market rate home renovation lending products to revitalize aging housing stock and support the success of lower income homeowners. Additionally, One Roof provides purchase assistance loans for income-qualified buyers who have completed homebuyer education classes and are purchasing within a 30-mile radius of Duluth. In alliance with the City of Superior, Wisconsin, One Roof also offers deferred loans to income-eligible households in that community. Their lending services can be accessed through their website or in person at their office. In 2022, One Roof deployed $1.9 million in new loans, furthering their mission to support lower income homeowners.
Official website here: www.1roofhousing.org
Who is the CEO of Neighborhood Housing Services Of Duluth One Roof Lending?
Jeff Corey is the Secretary of Neighborhood Housing Services Of Duluth One Roof Lending.
Official website here: www.1roofhousing.org
What is the revenue of Neighborhood Housing Services Of Duluth One Roof Lending?
Neighborhood Housing Services Of Duluth One Roof Lending's revenue in 2022 was $1,142,937.
Official website here: www.1roofhousing.org
Who are the executives of Neighborhood Housing Services Of Duluth One Roof Lending and what are their salaries?
Here are 17 key members and their salaries:
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- Related: $78,207
- Other: $4,909
Official website here: www.1roofhousing.org
Where can I find the form 990 for Neighborhood Housing Services Of Duluth One Roof Lending?
Neighborhood Housing Services Of Duluth One Roof Lending's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.1roofhousing.org
Learn more at the official website: www.1roofhousing.org
Mission Statement of Neighborhood Housing Services Of Duluth One Roof Lending
Neighborhood Housing Services of Duluth One Roof Lending is committed to providing financing that aids individuals of lower income in securing, purchasing, and enhancing their homes, encompassing both single-family homes and rental housing situations. Their mission is twofold: firstly, they offer below-market-rate home renovation lending products to revitalize the aging housing stock within their community and ensure the success of their lower-income homeowners. Secondly, they provide purchase assistance loans to income-qualified buyers who have completed homebuyer education classes and plan to purchase within 30 miles of Duluth. Additionally, on behalf of the city of Superior, Wisconsin, they offer deferred loans to income-eligible households in that community. Their lending services can be accessed through their website or in person at their office. In 2022, they deployed $1.9 million in new loans, demonstrating their ongoing commitment to this cause.
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Impact
July, 2024
Neighborhood Housing Services Of Duluth One Roof Lending's impact is significant in providing financing opportunities for lower-income individuals to find, purchase, and improve their homes. By offering below-market rate home renovation loans and purchase assistance loans, they contribute to the preservation of homeownership and the revitalization of the community's housing stock. Additionally, their services extend to income-qualified buyers within a 30-mile radius of Duluth and include deferred loans for eligible households in Superior, Wisconsin. In 2022 alone, they deployed $1.9 million in new loans, demonstrating their commitment to supporting affordable housing initiatives and community improvement.
This information is meant to be a general summary of Neighborhood Housing Services Of Duluth One Roof Lending. 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: $79
- Program Service Revenue: $238,375
- Gross Receipts: $1,142,937
Assets and Liabilities:
- Total Assets: $6,505,287
- Total Liabilities: $3,509,314
- Net Assets: $2,995,973
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$208,443
LOAN FEES
Revenue
$29,932
Organization Details
Founding Year
1983
Phone
(218) 727-5372Principal Officer
Jeff Corey
Main Address
12 EAST 4TH STREET, DULUTH, MN, 55805
Website
www.1roofhousing.orgNTEE Category
Code: S200 - Community improvement
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