Nazareth Housing Development
- Assets
- $1.3m
- Revenue
- $542.8k
- Investments
- $0.0
- Employees
- 4
- Location
- Akron, OH
- Founding
- 06/2001
- Data as of
- 12/2022
- EIN
- 34-1908695
Organization Overview
Nazareth Housing Development is located in Akron, OH. The organization was established in 2001. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Nazareth Housing Development employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nazareth Housing Development 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 12/2022, Nazareth Housing Development generated $542.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $562.3k during the year ending 12/2022. 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
PERFORM AS AN ENVIRONMENTALLY, FISCALLY AND LOCALLY RESPONSIBLE CORPORATE CITIZEN, AS EVIDENCED BY THE AGENCY'S WORK AND POLICIES: ~REDUCE THE IMPACT OF BUILDING PROJECTS ON THE ENVIRONMENT AND PROTECT THE MUNICIPALITY'S RESOURCES BY CORRECTING AND PLACING INTO SERVICE EXISTING HOUSING STOCK. ~STEWARD THE ORGANIZATION'S RESOURCES WITH AN EXCEPTIONALLY CAPABLE BOARD OF DIRECTORS; HIGHLY SKILLED STAFF: AND EXTENSIVE USE OF VOLUNTEERS. ~STEWARD THE CLIENTS' RESOURCES BY PROVIDING BELOW MARKET RENTS WITH THE CAREFUL USE OF GRANT FUNDS. FURTHER STEWARD RESOURCES BY PLACING ENERGY EFFICIENT FURNACES, WINDOWS AND APPLIANCES IN HOMES AND ASSISTING WITH FINANCIAL LITERACY. ~FURTHER STRENGTHEN NEIGHBORHOODS BY SUPPORTING LOCAL BUSINESSES; HIRING LOCAL CONTRACTORS; SOURCING MATERIALS FROM LOCAL VENDORS; AND BY RE-USING MATERIALS WHEN FEASIBLE. -STRENGTHEN THE LARGER COMMUNITY WITH EFFECTIVE COLLABORATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REHABILITATE VACANT AND/OR ABANDONED HOUSES FOR RENT, LEASE OR PURCHASE BY LOW TO MODERATE INCOME FAMILIES IN SUMMIT COUNTY, OHIO. BRING HOUSES UP TO CURRENT BUILDING CODE STANDARDS; ENSURE SAFE PROPERTY-SPECIFIC WATER TREATMENT SYSTEMS (WELL/SEPTIC); INCREASE ENERGY EFFICIENCY; UPDATE INTERIOR FINISHES AND REDESIGN INTERIORS AS FEASIBLE TO CREATE SAFE, CONTEMPORARY HOMES; BUILD NEW HOMES AS NECESSARY. REMOVE HAZARDOUS LEAD FOR LOW TO MODERATE INCOME HOMEOWNERS WITH YOUNG CHILDREN IN THE CITY OF AKRON AND SOUTHERN SUMMIT COUNTY. MODIFY HOMES FOR LOW INCOME INDIVIDUALS TO IMPROVE ACCESSABILITY/MOBILITY AND ASSIST WITH INDEPENDENT LIVING, AS FUNDS ALLOW.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nanci Self Executive Di | Officer | 40 | $31,667 |
Robert Brecht Treasurer | OfficerTrustee | 2 | $0 |
James Reddick Director, Re | Trustee | 1 | $0 |
Jennifer Robinson Director | Trustee | 1 | $0 |
Keith R Stahl President | OfficerTrustee | 2 | $0 |
Robert J Warner Vice-Pres./s | OfficerTrustee | 2 | $0 |
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 | $45,655 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $45,655 |
| Total Program Service Revenue | $496,405 |
| 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 | $542,810 |
| 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. | $31,667 |
| Compensation of current officers, directors, key employees. | $4,697 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $58,882 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,434 |
| Payroll taxes | $6,932 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,997 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $721 |
| Information technology | $2,479 |
| Royalties | $0 |
| Occupancy | $5,595 |
| Travel | $80 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,750 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,457 |
| Insurance | $17,258 |
| All other expenses | $1,422 |
| Total functional expenses | $562,256 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,270 |
| Savings and temporary cash investments | $10,631 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,448 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $8,746 |
| Prepaid expenses and deferred charges | $1,324 |
| Net Land, buildings, and equipment | $1,234,580 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,317,999 |
| Accounts payable and accrued expenses | $51,308 |
| Grants payable | $0 |
| Deferred revenue | $8,773 |
| 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 | $20,000 |
| Other liabilities | $12,341 |
| Total liabilities | $92,422 |
| Net assets without donor restrictions | $1,212,547 |
| Net assets with donor restrictions | $13,030 |
| 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 | $1,317,999 |