Overview
What is Neighborhood Concepts Inc?
Neighborhood Concepts Inc, based in Huntsville, Alabama, is a nonprofit organization dedicated to promoting equitable housing and economic opportunities for all. With a core focus on affordable multifamily housing, Neighborhood Concepts Inc has ownership interests in various partnerships that collectively manage 943 housing units across Alabama, Georgia, and South Carolina. Their activities extend beyond asset management, encompassing the delivery of resident services, development of new affordable housing, and preservation of existing affordable homes. As of 2022, they were constructing a 198-unit affordable multifamily property. Their mission is to strengthen communities and enhance the lives of residents by advancing equitable housing and economic pathways. With a modest workforce of 5 employees, Neighborhood Concepts Inc plays a significant role in providing affordable housing solutions and fostering community development.
Official website here: www.neighborhoodconcepts.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93% Four-Star out of Four Star Rating
Neighborhood Concepts Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and finance, with a score of 83%. The organization demonstrates high standards in governance, as indicated by its fully independent board and rigorous financial oversight, which significantly contribute to its operational integrity.
The nonprofit excels in its program expense ratio, with nearly 89% of its expenses dedicated to programs, showcasing effective use of funds. Additionally, the organization has received perfect scores for constituent feedback processes, indicating a robust mechanism for collecting and utilizing stakeholder input to improve services and community impact.
While the organization scores well overall, there are some minor areas for improvement in its equity strategies, where it received an 87 out of 100. This indicates a commitment to addressing equity but suggests there may be room for enhancement in data collection and policy implementation regarding equity practices.
This AI summary has been generated from information found on Charity Navigator.
Is Neighborhood Concepts Inc legitimate?
Neighborhood Concepts Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Neighborhood Concepts 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: $130,647
Professional Fundraising Fees: $0
Other Salaries and Wages: $235,191
For more financial information, click here
Official website here: www.neighborhoodconcepts.org
What is the mission statement of Neighborhood Concepts Inc?
Neighborhood Concepts Inc's mission is to strengthen communities by promoting equitable housing and economic opportunities, ensuring that everyone can thrive. They achieve this by investing in partnerships that own affordable multi-family housing units, managing existing properties, delivering resident services, developing new affordable housing, and preserving existing affordable housing. At the end of 2022, they had one 198-unit affordable multi-family property under construction. The organization's activities are aimed at providing equitable housing and economic pathways, ultimately benefiting all communities.
Official website here: www.neighborhoodconcepts.org
Who is the CEO of Neighborhood Concepts Inc?
Mary Ellen Judah is the Chair of Neighborhood Concepts Inc.
Official website here: www.neighborhoodconcepts.org
What is the revenue of Neighborhood Concepts Inc?
Neighborhood Concepts Inc's revenue in 2022 was $2,495,067.
Official website here: www.neighborhoodconcepts.org
Who are the executives of Neighborhood Concepts Inc and what are their salaries?
The average compensation at Neighborhood Concepts Inc during 2022 was $73,168. There are 5 employees and 22 volunteers at Neighborhood Concepts Inc.
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- Compensation: $128,996
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Official website here: www.neighborhoodconcepts.org
Where can I find the form 990 for Neighborhood Concepts Inc?
Neighborhood Concepts Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.neighborhoodconcepts.org
Learn more at the official website: www.neighborhoodconcepts.org
Mission Statement of Neighborhood Concepts Inc
Neighborhood Concepts Inc, a nonprofit organization, is committed to strengthening communities by advancing equitable housing and economic pathways. Their mission is to ensure that all individuals have the opportunity to thrive. Through their initiatives, they aim to facilitate the advancement of affordable housing and economic opportunities, thereby creating more resilient and inclusive communities.
Specifically, Neighborhood Concepts Inc invests in partnerships that collectively own and manage 943 units of affordable multi-family housing across Alabama, Georgia, and South Carolina. The organization manages these properties, delivering essential resident services, and also develops new affordable housing units. Additionally, they work towards preserving existing affordable housing units, as demonstrated by their ongoing construction of a 198-unit property at the end of 2022.
In summary, Neighborhood Concepts Inc's mission is to enhance the lives of individuals by promoting equitable housing and economic opportunities. They do this by investing in affordable housing, offering resident services, and developing new housing units to meet the needs of their communities. Their ultimate goal is to help create thriving, inclusive communities where all individuals can prosper.
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Impact
July, 2024
Neighborhood Concepts Inc strengthens communities through the advancement of equitable housing and economic pathways so all may thrive. They have an ownership interest in partnerships that collectively own 943 units of affordable multifamily housing in Alabama, Georgia, and South Carolina. Their expenses are associated with asset management of the existing portfolio, delivery of resident services, development of new affordable housing, and preservation of affordable housing. In addition, at year-end 2022, NCI had one 198 unit affordable multifamily property under construction. Their impact is seen in providing affordable housing options and supporting economic opportunities for individuals and families in these communities.
This information is meant to be a general summary of Neighborhood Concepts 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: $5,154
- Program Service Revenue: $1,246,709
- Gross Receipts: $2,495,067
Assets and Liabilities:
- Total Assets: $13,240,000
- Total Liabilities: $6,846,788
- Net Assets: $6,393,212
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER & CONSULTING
Revenue
$706,030
LOAN FUND PROGRAM REVE
Revenue
$451,638
ASSET MANAGEMENT FEES
Revenue
$89,041
Organization Details
Founding Year
1988
Phone
(256) 534-0075Principal Officer
Mary Ellen Judah
Main Address
2808 6TH STREET SW, HUNTSVILLE, AL, 35805
Website
www.neighborhoodconcepts.orgNTEE Category
Code: L20Z - Housing
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