Overview
What is Network For Oregon Affordable Housing?
Network for Oregon Affordable Housing (NOAH) is a certified nonprofit community development financial institution (CDFI) based in Portland, Oregon. Established with a mission to increase the state's supply of affordable housing while strengthening its communities, NOAH provides flexible financing, strategic partnerships, and creative solutions. During the 2021/2022 fiscal year, NOAH closed 14 permanent loans for a total value of $34.8 million, resulting in the creation or preservation of 748 units of housing. Their loan products primarily serve households earning below 60% of the area median income. NOAH's subsidiary, MPower Oregon, focuses on sustainable, affordable housing strategies through efficiency upgrades in multi-family properties. Additionally, NOAH facilitates the Oregon Housing Preservation Project, a statewide collaboration dedicated to preserving at-risk, publicly subsidized housing.
Official website here: www.noah-housing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
The Network For Oregon Affordable Housing has earned an 81% score from Charity Navigator, reflecting a strong emphasis on Accountability & Finance. The organization exhibits excellent governance practices, including a fully independent board and comprehensive financial oversight mechanisms in place. However, there are notable weaknesses in their financial health, specifically concerning their liabilities to assets ratio, which did not meet expectations.
There is significant provision of program expenses, showcasing a commitment to their primary mission. They have robust policies for conflict of interest, whistleblower protections, and document retention, indicating a high level of operational transparency. However, the absence of their tax form on their website may raise concerns about transparency for potential donors and stakeholders.
Not Available
This AI summary has been generated from information found on Charity Navigator.
Is Network For Oregon Affordable Housing legitimate?
Network For Oregon Affordable Housing is a legitimate nonprofit organization registered as a 501(c)(3) entity. Network For Oregon Affordable Housing 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: $280,347
Professional Fundraising Fees: $0
Other Salaries and Wages: $972,757
For more financial information, click here
Official website here: www.noah-housing.org
What is the mission statement of Network For Oregon Affordable Housing?
Network for Oregon Affordable Housing, a certified nonprofit community development financial institution (CDFI), strives to enhance communities by providing flexible financing, fostering strategic partnerships, and implementing creative solutions to build and preserve affordable housing in Oregon. Established with the objective of increasing the state's affordable housing supply, the organization offers a range of loan products to support the acquisition, renovation, and construction of affordable housing properties, primarily serving households with income below 60% of the area median income. Through its subsidiary, MPOWER Oregon, the organization focuses on strategies for sustainable, affordable housing, specifically through coordination and financing of energy efficiency upgrades in multi-family properties. Network for Oregon Affordable Housing also plays a role in the Oregon Housing Preservation Project, a collaboration of public and private stakeholders dedicated to preserving Oregon's at-risk, publicly subsidized housing.
Official website here: www.noah-housing.org
Who is the CEO of Network For Oregon Affordable Housing?
William A Van Vliet is the Chair of Network For Oregon Affordable Housing.
Official website here: www.noah-housing.org
What is the revenue of Network For Oregon Affordable Housing?
Network For Oregon Affordable Housing's revenue in 2022 was $8,548,248.
Official website here: www.noah-housing.org
Who are the executives of Network For Oregon Affordable Housing and what are their salaries?
The average compensation at Network For Oregon Affordable Housing during 2022 was $78,319. There are 16 employees and 22 volunteers at Network For Oregon Affordable Housing.
Here are 19 key members and their salaries:
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- Compensation: $105,720
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- Other: $17,932
Official website here: www.noah-housing.org
Where can I find the form 990 for Network For Oregon Affordable Housing?
Network For Oregon Affordable Housing's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.noah-housing.org
Learn more at the official website: www.noah-housing.org
Mission Statement of Network For Oregon Affordable Housing
Network for Oregon Affordable Housing, abbreviated as NOAH, is a certified nonprofit community development financial institution (CDFI) with a mission to strengthen Oregon communities. This organization was established with the goal of increasing the state's supply of affordable housing and enhancing the overall well-being of Oregon communities. NOAH achieves this mission through flexible financing, strategic partnerships, and innovative solutions, focusing on the construction and preservation of affordable housing properties.
Primarily serving households whose income falls below 60% of the area median income, NOAH offers a variety of loan products. These loan products support the acquisition, renovation, and construction of affordable housing properties, which ultimately provides homes for individuals and families in need. In addition to its primary mission, NOAH has a subsidiary called MPower Oregon. This subsidiary focuses on sustainable, affordable housing strategies, especially through the coordination and financing of energy efficiency upgrades in multi-family properties.
Furthermore, Network for Oregon Affordable Housing plays a significant role in the Oregon Housing Preservation Project, a statewide collaboration of public and private stakeholders. The project is dedicated to preserving Oregon's at-risk, publicly subsidized housing, ensuring that these properties remain accessible and affordable for those who need them most. In summary, the mission of Network for Oregon Affordable Housing is to strengthen Oregon communities by increasing the supply of affordable housing through various financing options and collaborative efforts.
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Impact
July, 2024
Network For Oregon Affordable Housing's impact includes closing fourteen permanent loans totaling $34.8 million, which created or preserved 748 units of housing during the fiscal year 2021/2022. Additionally, there were sixteen commitments totaling $37.2 million supporting 552 units, and eleven loans in process worth $24 million. Through strategic partnerships and creative solutions, NOAH is actively working to increase the supply of affordable housing in Oregon, particularly for households earning below 60% of the area median income. Its efforts not only address the immediate need for affordable housing but also focus on sustainable solutions, such as efficiency upgrades in multi-family properties. NOAH's work in facilitating collaborations like the Oregon Housing Preservation Project demonstrates its commitment to preserving at-risk, publicly subsidized housing across the state.
This information is meant to be a general summary of Network For Oregon Affordable Housing. 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: $460,270
- Program Service Revenue: $6,085,095
- Gross Receipts: $12,688,714
Assets and Liabilities:
- Total Assets: $195,654,493
- Total Liabilities: $172,172,955
- Net Assets: $23,481,538
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MORTGAGE INTEREST
Revenue
$5,620,206
LOAN SERVICING FEES
Revenue
$404,732
BOND SERVICING FEES
Revenue
$26,191
OTHER FEES
Revenue
$17,631
LOAN FEES
Revenue
$12,653
Organization Details
Founding Year
1990
Phone
(503) 223-3211Principal Officer
William A Van Vliet
Main Address
1020 SW TAYLOR STREET 585, PORTLAND, OR, 97205
Website
www.noah-housing.orgNTEE Category
Code: L200 - Housing
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