Overview
What is Northwest Real Estate Capital Corporation?
Northwest Real Estate Capital Corporation is a nonprofit organization based in Boise, Idaho, committed to providing affordable housing solutions for low-income families. They accomplish this mission by managing and preserving over 100 low-income multifamily housing projects or entities in the Northwest area of the United States, primarily under HUD Section 8, USDA Section 515, and IRS Section 42 low-income housing programs. Through these initiatives, the corporation aims to provide relief and support for the poor and distressed communities. With a total workforce of 493 individuals, Northwest Real Estate Capital Corporation is dedicated to acquiring, managing, and preserving low-income housing for those in need.
Official website here: www.nwrecc.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 92% (Four-Star out of Four Star rating)
Northwest Real Estate Capital Corporation has achieved a strong rating of 92%, which reflects its commendable performance in accountability and finance. The organization boasts an entirely positive score in this category, underlining its effective financial management and transparency. A notable aspect is that 80% of its board members are independent, highlighting a commitment to governance integrity.
The organization demonstrates excellent financial health, with no material diversion of assets reported and a low liabilities to assets ratio of 41.26%. Additionally, its program expense ratio stands at an impressive 85.52%, indicating that a significant portion of its revenue is directed toward its programs. The transparency of its financial statements, which are fully audited, is a positive factor in assessing its credibility.
Despite these strengths, a limitation noted is the absence of a whistleblower policy, which could enhance its operational integrity further. Overall, the organization exhibits robust practices in accountability and finance, making it a reliable choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Northwest Real Estate Capital Corporation legitimate?
Northwest Real Estate Capital Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northwest Real Estate Capital Corporation 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: $1,110,005
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,843,276
For more financial information, click here
Official website here: www.nwrecc.org
What is the mission statement of Northwest Real Estate Capital Corporation?
The Northwest Real Estate Capital Corporation focuses on providing affordable housing solutions for low-income families. They accomplish this through the acquisition, management, and preservation of low-income multi-family housing, primarily under HUD, USDA, and IRS Section 42 programs. The organization's mission is to provide relief for the poor and distressed by offering housing opportunities to those with extremely low, very low, and low incomes. The corporation manages over 100 low-income housing projects and entities, ensuring the preservation and continued availability of affordable housing options for those in need.
Official website here: www.nwrecc.org
What is the revenue of Northwest Real Estate Capital Corporation?
Northwest Real Estate Capital Corporation's revenue in 2023 was $18,272,008.
Official website here: www.nwrecc.org
Who are the executives of Northwest Real Estate Capital Corporation and what are their salaries?
The average compensation at Northwest Real Estate Capital Corporation during 2023 was $12,003. There are 496 employees at Northwest Real Estate Capital Corporation.
Here are 5 key members and their salaries:
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- Other: $0
Official website here: www.nwrecc.org
Where can I find the form 990 for Northwest Real Estate Capital Corporation?
Northwest Real Estate Capital Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.nwrecc.org
Learn more at the official website: www.nwrecc.org
Mission Statement of Northwest Real Estate Capital Corporation
Northwest Real Estate Capital Corporation, a notable organization, is dedicated to providing affordable housing solutions for low-income families. The corporation's primary focus is on acquiring, managing, and preserving low-income multifamily housing, primarily under HUD Section 8, USDA Section 515, and IRS Section 42 programs. This commitment to helping those in need is described in more detail as a mission to provide affordable housing for the relief of the poor and distressed using HUD, USDA, and IRS Section 42 low-income multifamily housing.
Managing over 100 low-income multifamily housing projects or entities in the Northwest area of the United States, Northwest Real Estate Capital Corporation's efforts extend beyond just providing housing. The organization also plays a crucial role in preserving existing affordable housing through the use of the IRS Section 42 Low-Income Housing Tax Credit Program. This multifaceted approach ensures a continuous supply of affordable housing options for eligible families, contributing significantly to their well-being and stability.
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Impact
October, 2024
Northwest Real Estate Capital Corporation significantly impacts the housing landscape for low-income families in the Northwest region of the United States. By acquiring, managing, and preserving low-income multifamily housing, primarily through HUD Section 8, USDA Section 515, and IRS Section 42 programs, the organization addresses critical housing needs for extremely low, very low, and low-income populations.
With over 100 managed projects, the corporation plays a vital role in providing affordable housing solutions that help alleviate the struggles faced by families in need. This not only supports individuals seeking stable living conditions but also contributes to the overall community well-being by fostering environments where low-income families can thrive.
Furthermore, the corporation’s commitment to preserving existing affordable housing ensures that these vital resources remain available for future generations. By leveraging tax credit programs and working closely with government agencies, Northwest Real Estate Capital Corporation not only enhances housing accessibility but also fortifies the social fabric of the communities it serves.
This information is meant to be a general summary of Northwest Real Estate Capital Corporation. 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 2023.
- Investment Income: $1,457,204
- Program Service Revenue: $10,910,238
- Gross Receipts: $18,575,144
Assets and Liabilities:
- Total Assets: $64,500,382
- Total Liabilities: $24,204,052
- Net Assets: $40,296,330
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$4,385,871
MANAGEMENT AND ADMIN
Revenue
$3,226,397
OTHER INCOME
Revenue
$1,947,138
DEVELOPER FEES
Revenue
$1,166,840
LAUNDRY INCOME
Revenue
$38,075
Organization Details
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