The Neighborhood Developers Inc
- Assets
- $34.9m
- Revenue
- $8.3m
- Investments
- $0.0
- Employees
- 39
- Location
- Chelsea, MA
- Founding
- 02/1979
- Data as of
- 12/2023
- EIN
- 04-2660283
Organization Overview
The Neighborhood Developers Inc is located in Chelsea, MA. The organization was established in 1979. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Neighborhood Developers Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Developers Inc 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 12/2023, Neighborhood Developers Inc generated $8.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $8.7m during the year ending 12/2023. While expenses have increased by 5.0% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Neighborhood Developers Inc has awarded 50 individual grants totaling $2,197,440. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE NEIGHBORHOOD DEVELOPERS, INC. (TND) IS TO CREATE STRONG NEIGHBORHOODS ENABLING COMMUNITY MEMBERS TO SECURE A STABLE HOME, ACHIEVE ECONOMIC MOBILITY,AND DETERMINE THEIR OWN FUTURE. TND EMPLOYS FOUR INVESTMENT STRATEGIES TO BUILD STRONG AND JUST NEIGHBORHOODS: REAL ESTATE DEVELOPMENT TO EXPAND AFFORDABLE HOUSING INVENTORY AND BUILD EQUITABLE NEIGHBORHOODS; COMMUNITY BUILDING TO FOSTER LEADERSHIP DEVELOPMENT IN ORGANIZING FOR SELF ADVOCACY; FINANCIAL CAPABILITIES AND WORKFORCE DEVELOPMENT TO INCREASE FAMILY PROSPERITY, DELIVERED IN COLLABORATION WITH OUR CONNECT PARTNERS; AND RESIDENT SERVICES, SO THAT THE RESIDENTS OF TND PROPERTIES SUCCEED AT HOME, SCHOOL, WORK AND IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL PROPERTIES - THE RENTAL PROPERTIES THROUGH 2021, TND OWNED AND MANAGED 611 RESIDENTIAL APARTMENTS THAT PROVIDE AN AFFORDABLE HOME FOR LOW-AND-MODERATE-INCOME INDIVIDUALS AND FAMILIES. A THIRD PARTY VENDOR, WINN RESIDENTIAL, PROVIDES PROPERTY MANAGEMENT SERVICES ON OUR BEHALF AND WORKS CLOSELY WITH TND'S RESIDENT SERVICES AND ASSET MANAGEMENT TEAMS TO ENSURE THAT OUR PROPERTIES PROVIDE RESIDENTS WITH A HIGH-QUALITY AFFORDABLE HOME. TND'S PROPERTIES ALSO INCLUDE EIGHT COMMERCIAL SPACES, PROVIDING AFFORDABLE RENTS FOR CHELSEA BUSINESSES.
RENTAL PROPERTIES - THE RENTAL PROPERTIES THROUGH 2021, TND OWNED AND MANAGED 611 RESIDENTIAL APARTMENTS THAT PROVIDE AN AFFORDABLE HOME FOR LOW-AND-MODERATE-INCOME INDIVIDUALS AND FAMILIES. A THIRD PARTY VENDOR, WINN RESIDENTIAL, PROVIDES PROPERTY MANAGEMENT SERVICES ON OUR BEHALF AND WORKS CLOSELY WITH TND'S RESIDENT SERVICES AND ASSET MANAGEMENT TEAMS TO ENSURE THAT OUR PROPERTIES PROVIDE RESIDENTS WITH A HIGH-QUALITY AFFORDABLE HOME. TND'S PROPERTIES ALSO INCLUDE EIGHT COMMERCIAL SPACES, PROVIDING AFFORDABLE RENTS FOR CHELSEA BUSINESSES.
CONNECT - THE CONNECT PROGRAM HELPS ADDRESS DISPLACEMENT AMONG LOW-INCOME INDIVIDUALS AND FAMILIES BY STABILIZING THEIR FINANCIAL OUTLOOK AND PROVIDING TOOLS TO HELP THESE HOUSEHOLDS MANAGE, AND GROW THEIR INCOME THROUGH FINANCIAL CAPABILITY, WORKFORCE DEVELOPMENT, AND HOUSING AND INCOME STABILIZATION PROGRAMMING. SERVICES TO THE COMMUNITY START WITH A RESOURCE HOTLINE, AND INCLUDE RESOURCES FOR RENTAL AND UTILITIES ASSISTANCE, FINANCIAL COACHING, MASSHEALTH, SNAP, WORKFORCE DEVELOPMENT AND TAX PREPARATION.
CONNECT - THE CONNECT PROGRAM HELPS ADDRESS DISPLACEMENT AMONG LOW-INCOME INDIVIDUALS AND FAMILIES BY STABILIZING THEIR FINANCIAL OUTLOOK AND PROVIDING TOOLS TO HELP THESE HOUSEHOLDS MANAGE, AND GROW THEIR INCOME THROUGH FINANCIAL CAPABILITY, WORKFORCE DEVELOPMENT, AND HOUSING AND INCOME STABILIZATION PROGRAMMING. SERVICES TO THE COMMUNITY START WITH A RESOURCE HOTLINE, AND INCLUDE RESOURCES FOR RENTAL AND UTILITIES ASSISTANCE, FINANCIAL COACHING, MASSHEALTH, SNAP, WORKFORCE DEVELOPMENT AND TAX PREPARATION.
REAL ESTATE DEVELOPMENT- THE REAL ESTATE DEVELOPMENT PROGRAM PRODUCES AND PRESERVES AFFORDABLE AND MIXED INCOME MULTI-FAMILY RENTAL PROPERTIES AND HOMES FOR SALE. THE HOMES THAT TND PRODUCES PRIMARILY BENEFIT LOW-INCOME HOUSEHOLDS EARNING 60% OR LESS OF THE AREA MEDIAN INCOME. TND HAS A GOAL TO BUILD OR PRESERVE 325 HOMES BETWEEN 2020-2024. THROUGH 2023, TND HAS PRODUCED 231 HOMES AND HAS 128 MORE HOMES IN DEVELOPMENT.
REAL ESTATE DEVELOPMENT- THE REAL ESTATE DEVELOPMENT PROGRAM PRODUCES AND PRESERVES AFFORDABLE AND MIXED INCOME MULTI-FAMILY RENTAL PROPERTIES AND HOMES FOR SALE. THE HOMES THAT TND PRODUCES PRIMARILY BENEFIT LOW-INCOME HOUSEHOLDS EARNING 60% OR LESS OF THE AREA MEDIAN INCOME. TND HAS A GOAL TO BUILD OR PRESERVE 325 HOMES BETWEEN 2020-2024. THROUGH 2023, TND HAS PRODUCED 231 HOMES AND HAS 128 MORE HOMES IN DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alice Murillo Director | Trustee | 1 | $0 |
Peter Hollands Director | Trustee | 1 | $0 |
Kristen Janjar Director | Trustee | 1 | $0 |
Charlene Bauer Treasurer | OfficerTrustee | 1 | $0 |
Dakeya Christmas Vice President | OfficerTrustee | 1 | $0 |
Faye Dookharan President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Opportunity Communities Llc Management Services | 12/30/23 | $2,358,826 |
Insperity Hr Consulting Services | 12/30/23 | $2,727,596 |
Cohnreznick Accounting Consulting Fees | 12/30/23 | $158,345 |
Insperity Hr Consulting Services | 12/30/23 | $2,727,596 |
Cohnreznick Accounting Consulting Fees | 12/30/23 | $158,345 |
Opportunity Communities Llc Management Services | 12/30/23 | $2,358,826 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $389,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $513,261 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,182,976 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,085,237 |
| Total Program Service Revenue | $6,038,740 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,814,400 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,309,577 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,015,425 |
| 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. | $225,430 |
| Compensation of current officers, directors, key employees. | $44,922 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,175,600 |
| Pension plan accruals and contributions | $73,001 |
| Other employee benefits | $247,374 |
| Payroll taxes | $166,129 |
| Fees for services: Management | $90,430 |
| Fees for services: Legal | $14,862 |
| Fees for services: Accounting | $264,280 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $30,169 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,185,476 |
| Advertising and promotion | $0 |
| Office expenses | $688,901 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $957,924 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $530,748 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $8,665,749 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,385,061 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $337,967 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,569,250 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $117,680 |
| Net Land, buildings, and equipment | $14,347,942 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $316,948 |
| Other assets | $10,822,307 |
| Total assets | $34,897,155 |
| Accounts payable and accrued expenses | $534,267 |
| Grants payable | $0 |
| Deferred revenue | $3,058,501 |
| 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 | $19,292,483 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $499,901 |
| Total liabilities | $23,385,152 |
| Net assets without donor restrictions | $8,820,800 |
| Net assets with donor restrictions | $2,691,203 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $34,897,155 |
Grants Awarded
Over the last fiscal year, The Neighborhood Developers Inc has awarded $552,694 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
WOMEN ENCOURAGING EMPOWERMENT INC PURPOSE: WORKFORCE DEVELOPMENT | $67,250 |
LA COLABORATIVA PURPOSE: RENTAL ASSISTANCE APPLICATION PREP | $83,997 |
MACIR INC PURPOSE: WORKFORCE DEVELOPMENT | $62,500 |
REVERE COMMUNITY SCHOOL PURPOSE: WORKFORCE DEVELOPMENT | $51,600 |
LAS PACERITAS PURPOSE: WORKFORCE DEVELOPMENT | $11,000 |
WOMEN ENCOURAGING EMPOWERMENT INC PURPOSE: WORKFORCE DEVELOPMENT | $67,250 |