Neighborhood Housing Services Of Waterbury Inc
- Assets
- $4.4m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 26
- Location
- Waterbury, CT
- Founding
- 11/1980
- Data as of
- 12/2021
- EIN
- 06-1022915
Organization Overview
Neighborhood Housing Services Of Waterbury Inc is located in Waterbury, CT. The organization was established in 1980. 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 12/2021, Neighborhood Housing Services Of Waterbury Inc employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Housing Services Of Waterbury 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 12/2021, Neighborhood Housing Services Of Waterbury Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 4.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
BUILD STRONG NEIGHBORHOODS AND COMMUNITIES OF CHOICE THROUGH AFFORDABLE AND COMPREHENSIVE HOUSING DEVELOPMENT, FINANCIAL EDUCATION, AND FURTHERING HOME AND COMMUNITY OWNERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOMEOWNERSHIP IS THE CORNERSTONE OF A STRONG COMMUNITY. THROUGH NEIGHBORHOOD HOUSING SERVICES OF WATERBURY'S (NHSW) HOMEOWNERSHIP PROMOTION PROGRAMS, POTENTIAL HOMEBUYERS ARE PROVIDED WITH THE TOOLS NECESSARY TO SUCCEED AND MAKE THEIR DREAMS OF LIFELONG HOMEOWNERSHIP A REALITY THROUGH PRE- AND POST-PURCHASE COUNSELING AND CLASSES, BUDGETING AND DEBT MANAGEMENT, FINANCIAL PLANNING AND MANAGEMENT, CREDIT REPAIR, AND LANDLORD EDUCATION. THE HOMEOWNERSHIP PRESERVATION PROGRAM COMBINES CLINICS AND COUNSELING SERVICES TO HELP EXISTING HOMEOWNERS HOLD ON TO THEIR HOMES WHEN CHALLENGE ARISE THROUGH WITH BUDGETING AND SPENDING COUNSELING AND REFINANCING HELP, DO-IT-YOURSELF TRAINING AND EDUCATION ON LOWERING THE COSTS OF OWNING A HOME; AND AVOID FORECLOSURE, MINIMIZE LOSSES AND RECEIVE HELP WITH LOAN MODIFICATIONS. IN 2019, NHSW WORKED WITH 1,239 CLIENTS FOR EDUCATION AND COUNSELING, 286 HOMEOWNERS WERE CREATED, 12 HOUSEHOLDS WERE ABLE TO PREVENT FORECLOSURE. COMMUNITY BUILDING AND ENGAGEMENT ACTIVITIES WORK IN TANDEM WITH REAL ESTATE ACTIVITIES AND ARE KEY FOR EFFECTIVE COMMUNITY DEVELOPMENT AND NECESSARY TO BUILDING HEALTHY COMMUNITIES BY BUILDING RESIDENT LEADERSHIP, STRENGTHENING RESIDENT LED ASSOCIATIONS, AND PROMOTING COMMUNITY BUILDING ACTIVITIES.
NEIGHBORHOOD HOUSING SERVICES OF WATERBURY IS COMMITTED TO PROVIDING HOMEOWNERSHIP AND HOME PRESERVATION SERVICES TO INDIVIDUALS AND FAMILIES. IN 2020, WE PROVIDED SERVICES TO ALMOST 1,900 HOUSEHOLDS, OF WHICH 700+RECEIVED HELP SECURING RENTAL PAYMENT ASSISTANCE DURING COVID AND 203 NEW HOMEOWNERS WERE CREATED. NHSW MANAGES AN AFFORDABLE RENTAL APARTMENT DEVELOPMENT IN THE NORTH END OF WATERBURY, CONSISTING OF 10 TOWNHOUSE STYLE, TWO- AND THREE-STORY, 3 BEDROOM, 2 BATHS UNITS AVERAGING 1,252 SQ. FT. PER UNIT. ADDITIONALLY, NHSW OWNS THE LAND FOR A 51 AFFORDABLE HOMEOWNERSHIP DEVELOPMENT CALLED OLD FARM RIDGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Aurigemma Secretary | OfficerTrustee | 2 | $0 |
Nancy B Fay Treasurer | OfficerTrustee | 2 | $0 |
Raechel Guest President | OfficerTrustee | 2 | $0 |
Francis Guerrera Vice Preside | OfficerTrustee | 2 | $0 |
Michelle Grull Director | Trustee | 2 | $0 |
Warren Leach Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $480,065 |
| All other contributions, gifts, grants, and similar amounts not included above | $245,388 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $725,453 |
| Total Program Service Revenue | $667,551 |
| Investment income | $415 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,021 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,389,491 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $629,995 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,430 |
| Payroll taxes | $46,750 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $143,812 |
| Advertising and promotion | $718 |
| Office expenses | $16,807 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,093 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,045 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $127,511 |
| Insurance | $28,179 |
| All other expenses | $1,116 |
| Total functional expenses | $1,101,054 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $522,514 |
| Savings and temporary cash investments | $373,003 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $497,741 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $811,153 |
| Prepaid expenses and deferred charges | $11,432 |
| Net Land, buildings, and equipment | $2,195,775 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,411,618 |
| Accounts payable and accrued expenses | $175,533 |
| Grants payable | $0 |
| Deferred revenue | $727,196 |
| 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 | $733 |
| Other liabilities | $767,672 |
| Total liabilities | $1,671,134 |
| Net assets without donor restrictions | $1,909,312 |
| Net assets with donor restrictions | $831,172 |
| 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 | $4,411,618 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Neighborhood Housing Services Of Waterbury Inc has recieved totaling $416,931.
| Awarding Organization | Amount |
|---|---|
Leever Foundation Inc Reston, VA PURPOSE: COMMUNITY PROGRAMS | $154,657 |
Connecticut Community Foundation Inc Waterbury, CT PURPOSE: GIVE LOCAL 2021; RENTAL RELIEF; CDA REVOLVING LOAN FUND; URBAN FORESTRY PROGRAM; YOUTH FINANCIAL EDUCATION ACADEMY | $111,162 |
William Caspar Graustein Memorial Fund Hamden, CT PURPOSE: GENERAL OPERATING SUPPORT FOR UNGROUP SOCIETY | $50,000 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $40,000 |
William Caspar Graustein Memorial Fund Hamden, CT PURPOSE: THE UNGROUP SOCIETY: COMMUNITY IN EDUCATION TEACHING PARTNERSHIP | $25,000 |
American Savings Foundation Inc New Britain, CT PURPOSE: PROGRAM GRANTS - HOMEOWNERSHIP EDUCATION & LOSS PREVENTION PROGRAM 2021 | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Womens Housing And Economic Development Corporation Bronx, NY | $29,527,353 | $27,859,543 |
Joint Ownership Entity New York City Corp New York, NY | $155,995,039 | $17,434,025 |
Breaking Ground Housing Development Fund Corporation New York, NY | $193,138,085 | $25,961,669 |
Highland Park Community Development Corporation Brooklyn, NY | $3,265,910 | $15,414,103 |
Centerboard Inc Lynn, MA | $21,186,335 | $15,673,773 |
Interstate I Affordable Housing Inc New York, NY | $783,725 | $8,991,908 |
Ascendant Neighborhood Development Corporation New York, NY | $39,528,943 | $4,446,577 |
Housing Works Services Inc Brooklyn, NY | $2,273,707 | $4,786,590 |
Willow Gardens Inc New Rochelle, NY | $20,661,774 | $5,354,577 |
United Residents In Academy Homes Ii Inc Roxbury, MA | $30,056,643 | $8,930,600 |
Pratt Area Community Council Inc Broooklyn, NY | $10,567,531 | $5,512,215 |
Homeowners Rehab Inc Cambridge, MA | $114,049,178 | $6,783,220 |