Overview
What is Neighborworks Capital Corporation?
Neighborworks Capital Corporation is a nonprofit organization situated in Silver Spring, Maryland. With a team of 18 dedicated individuals, their primary mission is to supply financing for the acquisition, development, and renovation of affordable homes for sale, rental, and commercial projects. By doing so, they contribute to the provision of affordable housing and the strengthening of communities, serving as a crucial partner to Neighborworks America affiliates. Their flexible capital solutions play a vital role in ensuring the availability of affordable homes for various sectors.
Official website here: www.neighborworkscapital.org
What are the reviews and ratings of this charity?
**Neighborworks Capital Corporation - Rating Summary**
Rating: 91% (Four-Star out of Four Star Rating from Charity Navigator)
Neighborworks Capital Corporation has been awarded a Four-Star rating by Charity Navigator, which highlights its strong commitment to accountability and financial health. The organization excels in various areas, such as maintaining a 100% independent board and high scores in financial efficiency and oversight. Although the rating does not evaluate its impact measurement or leadership adaptability directly, the overall financial management and governance practices indicate a trustworthy and sustainable nonprofit.
The charity's program expense ratio is notably high at 83%, demonstrating a significant commitment to its mission-related activities. However, there are some points of improvement, particularly regarding the availability of its tax form on its website, which has led to a lower score in that metric. This suggests a need for better transparency in disseminating financial information to stakeholders.
While user reviews from GreatNonprofits are not available, the organization's overall profile suggests a robust operation dedicated to serving its community. There is a noted focus on equity strategies, indicating a progressive approach towards inclusivity in its programs. Overall, Neighborworks Capital Corporation presents itself as a reliable choice for potential donors and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Neighborworks Capital Corporation legitimate?
Neighborworks Capital Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Neighborworks 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: $1,067,372
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,249,908
For more financial information, click here
Official website here: www.neighborworkscapital.org
What is the mission statement of Neighborworks Capital Corporation?
Neighborworks Capital Corporation's mission is to supply the flexible financing required by Neighborworks America affiliates to construct and maintain affordable housing units and enhance community development. By providing financing for the acquisition, development, and renovation of affordable homes for sale, rental, and commercial projects, the corporation contributes to the provision of affordable housing and community strengthening. In essence, Neighborworks Capital Corporation helps Neighborworks America affiliates meet their goal of offering affordable housing and fostering community growth.
Official website here: www.neighborworkscapital.org
Who is the CEO of Neighborworks Capital Corporation?
James Peffley is the Treasurer of Neighborworks Capital Corporation. The CEO's salary of Neighborworks Capital Corporation is $98,640 and their total compensation is $98,640.
Official website here: www.neighborworkscapital.org
What is the revenue of Neighborworks Capital Corporation?
Neighborworks Capital Corporation's revenue in 2022 was $8,857,507.
Official website here: www.neighborworkscapital.org
Who are the executives of Neighborworks Capital Corporation and what are their salaries?
The average compensation at Neighborworks Capital Corporation during 2022 was $128,738. There are 18 employees and 10 volunteers at Neighborworks Capital Corporation.
Here are 20 key members and their salaries (Neighborworks Capital Corporation's CEO's salary is $98,640 and their total compensation is $98,640):
- Compensation: $0
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- Compensation: $211,105
- Related: $0
- Other: $12,666
- Compensation: $248,393
- Related: $0
- Other: $28,904
- Compensation: $98,640
- Related: $0
- Other: $0
- Compensation: $206,416
- Related: $0
- Other: $12,385
- Compensation: $205,988
- Related: $0
- Other: $42,875
- Compensation: $144,665
- Related: $0
- Other: $33,099
- Compensation: $130,731
- Related: $0
- Other: $7,957
- Compensation: $109,053
- Related: $0
- Other: $19,338
- Compensation: $127,888
- Related: $0
- Other: $19,439
- Compensation: $133,183
- Related: $0
- Other: $28,224
Official website here: www.neighborworkscapital.org
Where can I find the form 990 for Neighborworks Capital Corporation?
Neighborworks Capital Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.neighborworkscapital.org
Learn more at the official website: www.neighborworkscapital.org
Mission Statement of Neighborworks Capital Corporation
Neighborworks Capital Corporation is dedicated to supplying the necessary flexible capital to Neighborworks America affiliates. This funding is essential for these affiliates to develop and provide affordable housing options, thereby strengthening their communities. In simpler terms, Neighborworks Capital Corporation serves as a financial backbone, enabling its affiliated organizations to construct and renovate affordable homes for both sale and rental, as well as commercial projects. This mission is pivotal in addressing the need for affordable housing, thereby contributing to the overall development and enhancement of communities.
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Impact
July, 2024
Neighborworks Capital Corporation's impact lies in its provision of flexible capital to NeighborWorks America affiliates, enabling them to acquire, develop, and rehabilitate affordable homes for sale, rental, and commercial projects. By providing this financing, NeighborWorks Capital Corporation supports the creation of affordable housing options and helps strengthen communities, particularly in areas where housing affordability is a challenge. This impact directly contributes to addressing housing needs and fostering community development.
This information is meant to be a general summary of Neighborworks 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 2022.
- Investment Income: $33,856
- Program Service Revenue: $4,959,021
- Gross Receipts: $8,857,507
Assets and Liabilities:
- Total Assets: $108,230,565
- Total Liabilities: $52,965,011
- Net Assets: $55,265,554
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$4,401,876
LOAN FEES
Revenue
$550,909
LOAN SERVICE FEE
Revenue
$6,236
Organization Details
Founding Year
2000
Phone
(240) 821-1651Principal Officer
James Peffley
Main Address
8484 GEORGIA AVE SUITE 330, SILVER SPRING, MD, 20910
Website
www.neighborworkscapital.orgNTEE Category
Code: L80 - Housing
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