Neighborhood Assistance Corporation Of America
- Assets
- $273.3m
- Revenue
- $42.3m
- Investments
- $100.0
- Employees
- 544
- Location
- Boston, MA
- Founding
- 11/1995
- Data as of
- 12/2022
- EIN
- 04-3244616
Organization Overview
Neighborhood Assistance Corporation Of America is located in Boston, MA. The organization was established in 1995. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Neighborhood Assistance Corporation Of America employed 544 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Assistance Corporation Of America is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Neighborhood Assistance Corporation Of America generated $42.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $21.5m during the year ending 12/2022. While expenses have increased by 1.7% per year over the past 8 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 STABILIZE COMMUNITIES THROUGH AFFORDABLE HOME OWNERSHIP AND COMMUNITY ADVOCACY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NACA'S MISSION IS TO STABILIZE COMMUNITIES THROUGH AFFORDABLE HOMEOWNERSHIP AND COMMUNITY ADVOCACY. NACA PROVIDES UNPRECEDENTED HOMEOWNERSHIP OPPORTUNITIES FOR PRIMARILY LOW AND MODERATE INCOME PEOPLE AND PEOPLE PURCHASING IN LOW AND MODERATE INCOME COMMUNITIES. THIS IS PRIMARILY THROUGH EDUCATION, MORTGAGE ASSISTANCE AND MORTGAGE ORIGINATION IN COMBINATION WITH ACCESS TO AFFORDABLE MORTGAGES. NACA ALSO ASSISTS HOMEOWNERS WHO HAVE AN UNAFFORDABLE MORTGAGE. NACA'S ADVOCACY INCLUDES NEIGHBORHOOD STABILIZATION INITIATIVES AND ACTIVITIES OPPOSING PREDATORY AND DISCRIMINATORY LENDING PRACTICES. NACA ALSO ADDRESSES OTHER ISSUES OF ECONOMIC JUSTICE AND FINANCIAL EXPLOITATION OF PRIMARILY LOW AND MODERATE INDIVIDUALS AND COMMUNITIES. PARTICIPANTS CAN BECOME NACA MEMBERS AND ACCESS THE MORTGAGE PRODUCT AVAILABLE THROUGH NACA AND RECEIVE ADDITIONAL SERVICES INCLUDING EXTENSIVE POST-PURCHASE ASSISTANCE TO PREVENT THE FORECLOSURE ON THEIR HOME. NACA IS OPEN TO ALL RESIDENTS IN THE COMMUNITIES WHERE NACA HAS ESTABLISHED ITS PRESENCE OR PROVIDES SERVICES. NACA'S NATIONAL OFFICE IS LOCATED IN BOSTON, MASSACHUSETTS WITH LOCAL OFFICES SERVICING INDIVIDUALS AND COMMUNITIES THROUGHOUT THE UNITED STATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Marks Pres/ceo/dir | OfficerTrustee | 40 | $234,890 |
Scott Nguyen Software Dev | 40 | $171,695 | |
Erick Exum Mortgage Dep | 40 | $150,010 | |
Guadalupe Soria Dir. Of Ment | 40 | $140,457 | |
Diego Luque Operations M | 40 | $131,175 | |
Marissa Landrau-Pirazzi Clerk | Officer | 40 | $111,251 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adkins Kelston Zavez Legal | 12/30/22 | $297,152 |
Jerome Washington Re Agent | 12/30/22 | $147,220 |
Sawyer Labar Llc Re Agent | 12/30/22 | $113,210 |
Fierberg National Law Group Legal | 12/30/22 | $151,961 |
Kenneth Clarke Re Agent | 12/30/22 | $108,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $40,266,221 |
| Investment income | $2,047,436 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,849 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,309,808 |
| 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. | $346,141 |
| Compensation of current officers, directors, key employees. | $173,070 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,006,897 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,350,688 |
| Payroll taxes | $845,321 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $597,171 |
| Fees for services: Accounting | $44,619 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $59,929 |
| Fees for services: Other | $402,485 |
| Advertising and promotion | $525,994 |
| Office expenses | $776,709 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,196,558 |
| Travel | $487,159 |
| 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 | $18,349 |
| Insurance | $361,872 |
| All other expenses | $66,390 |
| Total functional expenses | $21,454,246 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,715,508 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $57,087,687 |
| 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 | $356,880 |
| Net Land, buildings, and equipment | $756,608 |
| Investments—publicly traded securities | $139,972,815 |
| Investments—other securities | $100 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $73,410,336 |
| Total assets | $273,299,934 |
| Accounts payable and accrued expenses | $2,308,437 |
| Grants payable | $0 |
| Deferred revenue | $57,047,081 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,268,230 |
| Total liabilities | $63,623,748 |
| Net assets without donor restrictions | $209,176,186 |
| Net assets with donor restrictions | $500,000 |
| 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 | $273,299,934 |