Neighborhood Housing Services Of The South Shore Inc
- Assets
- $50.4m
- Revenue
- $138.1m
- Investments
- $198.4k
- Employees
- 90
- Location
- Quincy, MA
- Founding
- 08/1981
- Data as of
- 06/2022
- EIN
- 04-2732439
Organization Overview
Neighborhood Housing Services Of The South Shore Inc, operating under the name Neighborworks Housing Solutions, is located in Quincy, MA. The organization was established in 1981. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Neighborworks Housing Solutions employed 90 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborworks Housing Solutions 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 06/2022, Neighborworks Housing Solutions generated $138.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 69.9% each year . All expenses for the organization totaled $135.8m during the year ending 06/2022. While expenses have increased by 71.1% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE NEIGHBORHOOD REVITALIZATION AND AFFORDABLE HOUSING IN SOUTHEASTERN MASSACHUSETTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL ASSISTANCE INCLUDES THE FOLLOWING: SECTION 8 HOUSING VOUCHER AND OTHER SUBSIDY PROGRAMS THAT SERVE MORE THAN 3,000 DISABLED, ELDERLY, FORMERLY HOMELESS, AND OTHER INDIVIDUALS AND FAMILIES THROUGHOUT SOUTHEASTERN MASSACHUSETTS. CLIENT SERVICES INCLUDES SHORT TERM, LIMITED FINANCIAL ASSISTANCE, WHICH WILL ENABLE FAMILIES TO RETAIN HOUSING, OBTAIN NEW HOUSING OR OTHERWISE AVOID HOMELESSNESS. IT ALSO INCLUDES PROVIDING SHELTER IN DIFFERENT LOCATIONS FOR FAMILIES WHO HAVE BEEN VICTIMS OF DOMESTIC VIOLENCE.
OTHER PROGRAMS INCLUDES THE ORGANIZATION'S AFFORDABLE HOUSING LENDING PROGRAMS AND ITS EDUCATION AND COUNSELING SERVICES
PROPERTY MANAGEMENT INCLUDES THE FOLLOWING: REAL ESTATE OPERATIONS IS THE MANAGEMENT OF PROPERTIES NWHS ACQUIRED, INCLUDING ITS WHOLLY OWNED LIMITED PARTNERSHIPS. THESE EFFORTS ARE AIMED AT ENSURING THAT THE PROPERTIES MEET THE NEEDS OF THEIR LOW TO MODERATE-INCOME RESIDENTS AS WELL AS MAINTAINING THE FINANCIAL VIABILITY OF THESE PROPERTIES IN THE FUTURE.
REAL ESTATE DEVELOPMENT INCLUDES THE FOLLOWING: THE DEVELOPMENT PROGRAM USES FUNDS OBTAINED FROM VARIOUS GOVERNMENT ENTITIES ALONG WITH FUNDS FROM LOCAL MUNICIPALITIES, FOUNDATIONS AND FINANCIAL INSTITUTIONS TO ACQUIRE AND DEVELOP AFFORDABLE HOUSING ON THE SOUTH SHORE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Mcgowan President/chair | OfficerTrustee | 5 | $0 |
Beverly Somerville Vice Chair | OfficerTrustee | 5 | $0 |
David Kilnapp Treasurer | OfficerTrustee | 5 | $0 |
Patrick Neenan Vice Treasurer | OfficerTrustee | 5 | $0 |
Jeff Graeber Clerk | OfficerTrustee | 5 | $0 |
Darryl Mayers Assistant Clerk | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Protiviti Temporary Staffing | 6/29/22 | $2,483,816 |
Macleod General Contractors Inc Construction Contractor | 6/29/22 | $1,796,293 |
Utile Construction Contractor | 6/29/22 | $618,811 |
Rothschild & Associates Real Estate Development Consulting | 6/29/22 | $347,452 |
Wright Technology Group It Consulting | 6/29/22 | $301,281 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $119,594 |
| Related organizations | $0 |
| Government grants | $841,534 |
| All other contributions, gifts, grants, and similar amounts not included above | $568,049 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,529,177 |
| Total Program Service Revenue | $130,337,203 |
| Investment income | $201,016 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,000,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $138,084,403 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $457,264 |
| Compensation of current officers, directors, key employees. | $160,806 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,126,792 |
| Pension plan accruals and contributions | $241,923 |
| Other employee benefits | $669,766 |
| Payroll taxes | $392,123 |
| Fees for services: Management | $468,652 |
| Fees for services: Legal | $16,089 |
| Fees for services: Accounting | $144,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,635 |
| Office expenses | $844,338 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,027,665 |
| Travel | $71,521 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,235 |
| Interest | $153,114 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $798,904 |
| Insurance | $157,691 |
| All other expenses | $6,302,279 |
| Total functional expenses | $135,752,540 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,445,937 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,788,153 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,684,617 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $159,344 |
| Net Land, buildings, and equipment | $24,392,101 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $198,428 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,761,408 |
| Total assets | $50,429,988 |
| Accounts payable and accrued expenses | $3,001,564 |
| Grants payable | $0 |
| Deferred revenue | $9,718,469 |
| 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 | $28,044,453 |
| Unsecured mortgages and notes payable | $955,994 |
| Other liabilities | $30,744 |
| Total liabilities | $41,751,224 |
| Net assets without donor restrictions | $8,291,777 |
| Net assets with donor restrictions | $386,987 |
| 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 | $50,429,988 |