Neighborhood Of Affordable Housing Inc
- Assets
- $28.4m
- Revenue
- $10.8m
- Investments
- $0.0
- Employees
- 25
- Location
- East Boston, MA
- Founding
- 06/1988
- Data as of
- 12/2023
- EIN
- 04-2964630
Organization Overview
Neighborhood Of Affordable Housing Inc is located in East Boston, MA. The organization was established in 1988. 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 Of Affordable Housing Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Of Affordable Housing 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 Of Affordable Housing Inc generated $10.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.7% each year . All expenses for the organization totaled $11.8m during the year ending 12/2023. While expenses have increased by 17.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE NEIGHBORHOOD OF AFFORDABLE HOUSING INC.'S (NOAH), A COMMUNITY DEVELOPMENT CORPORATION, PROMOTES EQUITY, COMMUNITY COHESION, ENVIRONMENTAL JUSTICE, AND ECONOMIC RESILIENCY. WE INCREASE ACCESS TO AFFORDABLE HOUSING, CREATE SOCIAL AND ECONOMIC OPPORTUNITIES, AND EMPOWER RESIDENTS TO BE LEADERS OF CHANGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOAH RENTAL HOUSING COUNSELING/HOMELESSNESS PREVENTION PROGRAMMING: THIS FREE, BILINGUAL PROGRAM IS COMPRISED OF SEVERAL RELATED SERVICE LINES, ALL WORKING TO HELP NO-, LOW- OR MODERATE-INCOME HOUSEHOLDS MOVE ALONG THE HOUSING SPECTRUM FROM BEING EITHER HOMELESS OR AT RISK OF HOMELESSNESS TO BEING ABLE TO OBTAIN SHELTER OR ELSE TO RETAIN OR OBTAIN APARTMENT HOMES. THESE SERVICE LINES INCLUDE: -EHAP (EMERGENCY HOUSING ASSISTANCE PROGRAM) - SERVES NEWLY HOMELESS DISASTER VICTIMS; PROVIDES SHORT-TERM EMERGENCY HOTEL STAYS IMMEDIATELY FOLLOWING ANY SUCH RED CROSS ASSISTANCE, AS WELL AS MOVE-IN GRANTS PAID TO THE NEW LANDLORD (DEPOSIT FOR FIRST/ OR LAST MONTH RENT UP TO $3,200); ALSO PROVIDES COUNSELING/CASE MANAGEMENT, AS NEEDED. THIS EHAP PROGRAM WAS FIRST ESTABLISHED IN 2020 AND BENEFITED 3,500 GRANT RECIPIENTS THUS FAR AND WILL CONTINUE INTO 2024.-FSNP (FAMILY SAFETY NET) - SERVES RECENTLY HOMELESS FAMILIES WITH MINOR CHILDREN; PROVIDES SHORT-TERM EMERGENCY HOTEL STAYS, REFERRALS, AND/OR COUNSELING/CASE MANAGEMENT ASSISTANCE IN TRANSITIONING TO SHELTER OR HOUSING-FAP (FINANCIAL ASSISTANCE) - SERVES HOMELESS OR THOSE AT RISK OF HOMELESSNESS; PROVIDES RENTAL FUNDING GRANTS PAID TO LANDLORDS TO PREVENT EVICTIONS 'UPSTREAM' (PREFERRED) OR FOR FIRST OR LAST AND DEPOSIT FOR NEW APARTMENTS UP TO $2,500-HOMELESSNESS PREVENTION - PROVIDES COUNSELING AND/OR CASE MANAGEMENT FOR HOUSEHOLDS AT RISK OF HOMELESSNESS SOON, BUT NOT IMMEDIATELY OR FOR THOSE WHO DO NOT MEET THE CRITERIA OF THE THREE SERVICE LINES ABOVE-COVID-19 RENT RELIEF - SERVES HOUSEHOLDS NEGATIVELY IMPACTED FINANCIALLY BY COVID-19; PROVIDES RENT PAYMENTS TO LANDLORDS TO KEEP HOUSEHOLDS IN THEIR APARTMENT HOMES THROUGH PAYING RENTAL ARREARS AND/OR FUTURE STIPENDS; ALSO PAYS LATE UTILITY BILLS UP TO $1,500 AND/OR MOVE-IN COSTS.
RENTAL: PROVIDES AFFORDABLE HOUSING TO PEOPLE IN NEED.
REAL ESTATE AND ECONOMIC DEVELOPMENT: DEVELOP AFFORDABLE HOUSING OWNERSHIP AND RENTAL UNITS FOR LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Bryant Board Member/president (as Of 8/2023) | OfficerTrustee | 0.25 | $0 |
Orlando Pacheco President (until 8/2023) | OfficerTrustee | 0.25 | $0 |
Celsa Moreno-Barker Vice President | OfficerTrustee | 0.25 | $0 |
Megan Reagon Treasurer | OfficerTrustee | 0.25 | $0 |
Robert Schmidt Secretary/ Clerk | OfficerTrustee | 0.25 | $0 |
Ana Alonzo Board Member | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dellbrook Construction Llc Union Block Project | 12/30/23 | $1,733,922 |
Landmark Structures Corp Aileron Homeownership Project | 12/30/23 | $1,210,769 |
Jc Calle Construction Rental Properties | 12/30/23 | $245,353 |
Ganek Architects Incorporated Union Block Project | 12/30/23 | $155,062 |
Sasha Merveille Housing Counseling | 12/30/23 | $103,725 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $115,973 |
| Membership dues | $0 |
| Fundraising events | $6,357 |
| Related organizations | $0 |
| Government grants | $8,220,175 |
| All other contributions, gifts, grants, and similar amounts not included above | $187,464 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,529,969 |
| Total Program Service Revenue | $2,260,900 |
| 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 | $10,832,448 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,438,118 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $344,574 |
| Compensation of current officers, directors, key employees. | $9,955 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,601,640 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $222,252 |
| Payroll taxes | $162,566 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,795 |
| Fees for services: Accounting | $75,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $355,964 |
| Advertising and promotion | $5,790 |
| Office expenses | $116,893 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,436,397 |
| Travel | $42,721 |
| 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 | $467,946 |
| Insurance | $380,343 |
| All other expenses | $0 |
| Total functional expenses | $11,789,454 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,297,899 |
| Savings and temporary cash investments | $1,330,726 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,122,339 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $112,731 |
| Net Land, buildings, and equipment | $16,764,609 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,740,568 |
| Total assets | $28,368,872 |
| Accounts payable and accrued expenses | $607,224 |
| 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 | $21,155,185 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,531,446 |
| Total liabilities | $27,293,855 |
| Net assets without donor restrictions | -$457,543 |
| Net assets with donor restrictions | $1,532,560 |
| 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 | $28,368,872 |