Overview
What is North East Housing Initiative Inc?
North East Housing Initiative Inc, based in Baltimore, Maryland, is a dedicated nonprofit organization. Their primary mission is to foster community development by constructing affordable housing for residents whose income falls below 60% of the local median income (AMI). Over the years, they have successfully acquired and rehabilitated 10 properties, transforming nine of them into homes. These homes have then been sold, contributing to the growth of the community. With a team of 11 dedicated individuals, North East Housing Initiative Inc is continuously working towards their goal of providing affordable housing and strengthening their community.
Is North East Housing Initiative Inc legitimate?
North East Housing Initiative Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. North East Housing Initiative 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: $85,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $944,085
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What is the mission statement of North East Housing Initiative Inc?
North East Housing Initiative Inc is committed to building community by developing affordable housing for residents with income levels at or below 60% of the area median income (AMI). Their mission is to make a significant impact, one home at a time, by providing affordable living spaces. To date, they have acquired 10 properties for development and renovation, successfully completing rehabilitation on nine of these homes and selling seven of them to eligible families.
Who is the CEO of North East Housing Initiative Inc?
Garrick R Good is the Executive Director of North East Housing Initiative Inc.
What is the revenue of North East Housing Initiative Inc?
North East Housing Initiative Inc's revenue in 2022 was $3,163,612.
Who are the executives of North East Housing Initiative Inc and what are their salaries?
The average compensation at North East Housing Initiative Inc during 2022 was $93,553. There are 11 employees at North East Housing Initiative Inc.
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Where can I find the form 990 for North East Housing Initiative Inc?
North East Housing Initiative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of North East Housing Initiative Inc
North East Housing Initiative Inc is committed to building a stronger community by constructing affordable housing for residents whose income falls below 60% of the area median income (AMI). This nonprofit organization takes a hands-on approach, focusing on the development of homes for individuals who may otherwise struggle to secure affordable housing options. By acquiring and rehabilitating properties, North East Housing Initiative Inc has successfully transformed 9 homes, subsequently selling 7 of them to eligible residents. This dedication to providing affordable housing not only enhances the living conditions of these individuals but also contributes to the overall well-being and stability of the community.
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Impact
July, 2024
North East Housing Initiative Inc's impact can be seen in the tangible results they have achieved in their mission to build community through the development of affordable housing. They have acquired 10 properties for development and sale, completed rehabilitation on 9 homes, and successfully sold 7 homes. This demonstrates their commitment to providing affordable housing options for residents at or below 60% of the area median income in Baltimore, MD. Through their focus on housing development, they are making a direct and positive impact on the community, addressing the need for affordable housing in the area.
This information is meant to be a general summary of North East Housing Initiative 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.
- Program Service Revenue: $1,063,612
- Gross Receipts: $3,163,612
Assets and Liabilities:
- Total Assets: $6,021,770
- Total Liabilities: $1,653,962
- Net Assets: $4,367,808
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$13,612
HOME SALES
Revenue
$1,050,000
Organization Details
Founding Year
2014
Principal Officer
Garrick R Good
Main Address
5307 BELAIR RD, BALTIMORE, MD, 212065109
NTEE Category
Code: L20 - Housing
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