Springfield Neighborhood Housing
- Assets
- $1.2m
- Revenue
- $157.1k
- Investments
- $0.0
- Employees
- 9
- Location
- Springfield, MA
- Founding
- 04/1979
- Data as of
- 12/2017
- EIN
- 04-2658190
Organization Overview
Springfield Neighborhood Housing is located in Springfield, MA. The organization was established in 1979. According to its NTEE Classification (L81) the organization is classified as: Home Improvement & Repairs, under the broad grouping of Housing & Shelter and related organizations. As of 12/2014, Springfield Neighborhood Housing employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Springfield Neighborhood Housing is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2017, Springfield Neighborhood Housing generated $157.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (23.7%) each year. All expenses for the organization totaled $390.5k during the year ending 12/2017. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE HOUSING IN THE CITY OF SPRINGFIELD, MASSACHUSETTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SNHS- THE REVOLVING LOAN FUNDS PROGRAM (RLF) PROVIDES A FULL ARRAY OF MORTGAGE PRODUCTS FOR ALL INCOME RANGES FOR HOMEBUYERS ANYWHERE IN MASSACHUSETTS INCLUDING PURCHASE, REFINANCE OR REHABILITATION MORTGAGES. ADDITIONALLY, THE PROGRAM PROVIDES CURB APPEAL LOANS TO ELIGIBLE HOMEOWNERS IN SPRINGFIELD NEIGHBORHOODS TO IMPROVE THE EXTERIOR APPEARANCE OF THE HOMES. THE CURB APPEAL LOANS ARE FORGIVEN IF THE IMPROVEMENTS ARE MAINTAINED BY THE HOMEOWNER FOR A FIVE YEAR PERIOD.
HOMEOWNERSHIP SERVICES INCLUDE CREDIT COUNSELING AND HOMEOWNERSHIP EDUCATION FOR POTENTIAL BUYERS; TECHNICAL ASSISTANCE TO BORROWERS FROM LOAN INTAKE TO CLOSING; TECHNICAL ASSISTANCE WITH PROPERTY INSPECTIONS AND REHABILITATION SERVICES; AND POST-PURCHASE SERVICES THAT INCLUDE FORECLOSURE INTERVENTION.
REAL ESTATE DEVELOPMENT SERVICES INCLUDE BOTH NEW CONSTRUCTION AND PURCHASE AND REHABILITATION TO PROVIDE AFFORDABLE SINGLE FAMILY OWNER OCCUPIED HOUSING. THESE ACTIVITIES ARE FINANCED BY ACCESSING FEDERAL AND STATE PROGRAMS AND PRIVATE LENDERS. SNHS ACQUIRES BLIGHTED AND ABANDONED PROPERTIES AND RENOVATES EXISTING HOUSES OR BUILDS NEW HOUSES ON VACANT LOTS AS PART OF ITS STRATEGY TO STABILIZE AND STIMULATE DEVELOPMENT WITHIN ITS COMMUNITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ruth Ann Hamilton-Stutts Deputy Director | Officer | 40 | $60,330 |
Charles Rucks Executive Director | Officer | 40 | $32,755 |
Marvenia Shubrick Vice Presient | OfficerTrustee | 0.5 | $0 |
Sophia Jeffery Vice Presient | OfficerTrustee | 0.5 | $0 |
Gladys Oyola Clerk | OfficerTrustee | 0.5 | $0 |
Sonia Colon Treasurer | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $49,493 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $157,052 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $203,295 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $51,923 |
| Payroll taxes | $0 |
| Fees for services: Management | $26,211 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,134 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,867 |
| Office expenses | $7,065 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,713 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,851 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,014 |
| Insurance | $17,448 |
| All other expenses | $0 |
| Total functional expenses | $390,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,648 |
| Savings and temporary cash investments | $316,987 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $391 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $704,332 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,656 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,154,052 |
| Accounts payable and accrued expenses | $29,131 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $138,734 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $167,865 |
| Net assets without donor restrictions | -$149,517 |
| Net assets with donor restrictions | $1,135,704 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $986,187 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Springfield Neighborhood Housing has recieved totaling $36.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $36 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Association For Energy Affordability Inc Bronx, NY | $8,796,586 | $16,696,902 |
Bedford Stuyvesant Restoration Corporation Brooklyn, NY | $66,956,082 | $10,958,396 |
Tioga Opportunities Inc Owego, NY | $6,623,346 | $5,643,781 |
Bluehub Capital Inc Boston, MA | $18,553,228 | $2,089,518 |
Rebuilding Together Nyc Brooklyn, NY | $1,427,304 | $2,371,566 |
Margert Community Corporation Far Rockaway, NY | $3,330,961 | $2,086,587 |
Neighborhood Housing Services Of Brooklyn Cdc Inc Brooklyn, NY | $1,795,417 | $1,982,493 |
Revitalize Community Development Corporation Springfield, MA | $1,147,655 | $1,631,716 |
Lucille Clark Housing Development Fund Co Inc New York, NY | $2,660,768 | $778,673 |
The Parodneck Foundation For Self-H Elp Housing & Community Dvlpnt Inc New York, NY | $15,240,279 | $682,026 |
Stoneleigh Housing Inc Canastota, NY | $1,255,218 | $979,437 |
T A P Inc Troy, NY | $2,760,904 | $1,022,360 |