Overview
What is Neighborgood Partners Inc?
Neighborgood Partners Inc, located in Dover, Delaware, is a recognized Community Development Financial Institution (CDFI). Their primary mission is to bolster local communities by providing affordable housing, funding for community facilities, and fostering economic development. The nonprofit specializes in lending, primarily to nonprofit organizations on the Delmarva Peninsula. Loan purposes typically include predevelopment, acquisition, and construction for housing projects, neighborhood revitalization, and community-based facilities. They also offer working capital loans. Neighborgood Partners, functioning as a short-term lender, seeks investments and loan participations to expand their lending capacity. The organization's overall goal is to enhance communities for low to moderate income households. (113 words)
Official website here: www.neighborgoodpartners.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 96%, Four-Star out of Four Star rating.
Neighborgood Partners Inc has received a commendable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. The organization excelled particularly in the Accountability & Finance category, scoring 96%. This reflects a strong governance structure, with 100% independent board members and comprehensive policies in place regarding conflict of interest and whistleblower protections.
The organization's financials appear solid, with a program expense ratio of 87.79%, showing that a significant majority of its resources are directed towards its programs. Additionally, the absence of any material diversion of assets and effective oversight mechanisms, such as an audit and oversight committee, further enhance its credibility. However, while the liabilities to assets ratio stands at 55.90%, this aspect may require ongoing monitoring to ensure long-term financial stability.
Overall, Neighborgood Partners Inc demonstrates a commitment to transparency and responsible financial management, which can instill confidence in potential donors and beneficiaries alike. Its strong governance and financial metrics support its mission effectively, although attention to its liabilities is advisable for sustained success.
This AI summary has been generated from information found on Charity Navigator.
Is Neighborgood Partners Inc legitimate?
Neighborgood Partners Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Neighborgood Partners 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: $2,460,179
For more financial information, click here
Official website here: www.neighborgoodpartners.org
What is the mission statement of Neighborgood Partners Inc?
NeighborGood Partners Inc's mission is centered around strengthening communities. They achieve this goal through the provision of housing, lending, and educational services to low to moderate income households. As a Community Development Financial Institution (CDFI), they have a Loan Fund that primarily lends to nonprofit organizations for affordable housing, community facilities, and economic development projects. Their loan purposes often include predevelopment, acquisition, and construction for single-family and multi-family housing, neighborhood revitalization, and community-based facilities. NeighborGood Partners actively seeks investments and loan participations to expand their lending capacity. Their activities have resulted in 18 new loans totaling $7.16 million, with a total of 51 loans being serviced.
Official website here: www.neighborgoodpartners.org
Who is the CEO of Neighborgood Partners Inc?
Karen B Speakman is the Principal Officer of Neighborgood Partners Inc.
Official website here: www.neighborgoodpartners.org
What is the revenue of Neighborgood Partners Inc?
Neighborgood Partners Inc's revenue in 2022 was $5,835,824.
Official website here: www.neighborgoodpartners.org
Who are the executives of Neighborgood Partners Inc and what are their salaries?
The average compensation at Neighborgood Partners Inc during 2022 was $53,482. There are 46 employees and 35 volunteers at Neighborgood Partners Inc.
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Official website here: www.neighborgoodpartners.org
Where can I find the form 990 for Neighborgood Partners Inc?
Neighborgood Partners Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.neighborgoodpartners.org
Learn more at the official website: www.neighborgoodpartners.org
Mission Statement of Neighborgood Partners Inc
NeighborGood Partners Inc is committed to strengthening communities by focusing on housing, lending, and education for low to moderate income households. Their mission, in essence, is to enhance community resilience through these three key areas. They operate as a Community Development Financial Institution (CDFI), which enables them to provide loans primarily for the development of affordable housing, community facilities, and economic development initiatives. Their loan purposes often encompass predevelopment, acquisition, and construction for single-family and multi-family housing, neighborhood revitalization, and community-based facilities. By providing these essential resources, NeighborGood Partners contributes to the long-term sustainability of the communities they serve. Additionally, they actively seek investments and loan participations to amplify their capacity to lend, thereby reinforcing their commitment to community growth and development.
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Impact
July, 2024
Neighborgood Partners Inc's impact can be seen through its efforts to strengthen communities by providing housing, lending, and education resources to low to moderate income households. As a certified Community Development Financial Institution (CDFI) by the Treasury Department, NeighborGood Partners operates a Loan Fund that primarily lends to nonprofit borrowers on the Delmarva Peninsula for affordable housing, community facilities, and economic development projects. This includes providing loans for purposes such as predevelopment, acquisition, and construction of single-family and multi-family housing, neighborhood revitalization, community-based facilities, and working capital.
In the past year, Neighborgood Partners has approved 18 new loans totaling $7.16 million, with a total of 51 loans being serviced overall. These investments have directly contributed to the improvement of housing options, community facilities, and economic opportunities for individuals and families in need. Through their work, Neighborgood Partners is playing a significant role in fostering positive change and advancing the well-being of underserved communities.
This information is meant to be a general summary of Neighborgood Partners 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: $8,928
- Program Service Revenue: $1,384,982
- Gross Receipts: $5,835,824
Assets and Liabilities:
- Total Assets: $39,111,935
- Total Liabilities: $21,864,866
- Net Assets: $17,247,069
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Fees Income
Revenue
$689,972
Loan Fund Interest Income
Revenue
$695,010
Organization Details
Founding Year
1955
Phone
(302) 678-9400Principal Officer
Karen B Speakman
Main Address
363 Saulsbury Road, Dover, DE, 19904
Website
www.neighborgoodpartners.orgNTEE Category
Code: K20Z - Food
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