Neighborhoods Inc
- Assets
- $10.9m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 18
- Location
- Lincoln, NE
- Founding
- 04/1986
- Data as of
- 09/2023
- EIN
- 36-3430278
Organization Overview
Neighborhoods Inc, operating under the name Neighborworks Lincoln, is located in Lincoln, NE. The organization was established in 1986. 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 09/2023, Neighborworks Lincoln employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborworks Lincoln 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 09/2023, Neighborworks Lincoln generated $2.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $1.8m during the year ending 09/2023. While expenses have increased by 3.4% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NEIGHBORWORKS LINCOLN REVITALIZES NEIGHBORHOODS AND SUPPORTS HOMEOWNERSHIP KEEPING LINCOLN A SAFE AND PROSPEROUS COMMUNITY.
Describe the Organization's Program Activity:
HOME BUYER SERVICES - NWL PROVIDES A HUD-APPROVED PRE-PURCHASE COURSE DESIGNED TO PREPARE INDIVIDUALS FOR HOME OWNERSHIP. THE HOMEBUYER EDUCATION PROGRAM IS A SERIES OF 4 IN PERSON CLASSES. NWL PROVIDES DOWN PAYMENT ASSISTANCE TO HELP WITH THE REQUIRED DOWN-PAYMENT AND CLOSING COSTS TO QUALIFIED LOW-TO-MODERATE INCOME BORROWERS. HOMES CAN BE PURCHASED ANYWHERE WITHIN LINCOLN'S CITY LIMITS BUT SPECIAL INCENTIVES, INCLUDING LOAN FORGIVENESS, ARE AVAILABLE TO BUYERS WHO PURCHASE IN SPECIFIC GEOGRAPHIC AREAS.
REAL ESTATE DEVELOPMENT - NWL BUILDS A VARIETY OF NEW HOMES EACH YEAR OFFERED FIRST TO INDIVIDUALS WHO HAVE COMPLETED THE HOMEBUYER EDUCATION PROGRAM. IN ADDITION TO BUILDING NEW HOMES, NWL PURCHASES AND EXTENSIVELY RENOVATES EXISTING HOMES THAT ARE ALSO PRIORITIZED FOR BUYERS THAT HAVE COMPLETED THE HOMEBUYER EDUCATION PROGRAM.
COMMUNITY BUILDING - NWL STRENGTHENS NEIGHBORHOODS ACROSS LINCOLN BY INCREASING LEADERSHIP CAPACITY. RESIDENTS EQUIPPED WITH THE TOOLS THEY NEED TO CREATE INCLUSIVE COMMUNITIES ARE LINCOLN'S BEST AMBASSADORS. THE COMMUNITY BUILDING PROGRAM CULTIVATES RELATIONSHIPS TO HELP IMPROVE QUALITY OF LIFE FOR ALL LINCOLN RESIDENTS THROUGH APPRECIATIVE INQUIRY AND AN ASSET-BASED COMMUNITY DEVELOPMENT APPROACH. ANOTHER KEY FOCUS OF NWL IS THE CENTERING OF HISTORICALLY MARGINALIZED NEIGHBORHOODS AND THE FACILITATION OF POWER TRANSFER FROM INSTITUTIONS TO RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Gerrard President | OfficerTrustee | 1 | $0 |
Adelle Burk Vice President | OfficerTrustee | 1 | $0 |
Michael Thompson Secretary | OfficerTrustee | 1 | $0 |
Tom Klein Treasurer | OfficerTrustee | 1 | $0 |
Greg Baker Director | OfficerTrustee | 1 | $0 |
Desarie Ball Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clover Remodeling Remodeling | 9/29/23 | $228,244 |
Hbe Llp Accounting | 9/29/23 | $154,419 |
D2 & E Llc Dba De Builders Building | 9/29/23 | $222,944 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,195,040 |
| All other contributions, gifts, grants, and similar amounts not included above | $644,381 |
| Noncash contributions included in lines 1a–1f | $63,685 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,839,421 |
| Total Program Service Revenue | $378,099 |
| Investment income | $37,915 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,861 |
| 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 | -$772,269 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,499,027 |
| 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. | $211,325 |
| Compensation of current officers, directors, key employees. | $57,586 |
| Compensation to disqualified persons | $575,566 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $73,439 |
| Payroll taxes | $57,567 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,770 |
| Fees for services: Accounting | $177,081 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $48,237 |
| Office expenses | $1,015 |
| Information technology | $15,513 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,398 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,809 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,123 |
| Insurance | $43,785 |
| All other expenses | $120,399 |
| Total functional expenses | $1,832,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,202,722 |
| Savings and temporary cash investments | $45,037 |
| Pledges and grants receivable | $677,633 |
| Accounts receivable, net | $39,982 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,959,153 |
| Inventories for sale or use | $2,027,426 |
| Prepaid expenses and deferred charges | $13,473 |
| Net Land, buildings, and equipment | $1,012,954 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | -$54,486 |
| Intangible assets | $0 |
| Other assets | $15,076 |
| Total assets | $10,938,970 |
| Accounts payable and accrued expenses | $434,105 |
| 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 | $1,145,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,579,105 |
| Net assets without donor restrictions | $3,099,758 |
| Net assets with donor restrictions | $6,260,107 |
| 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 | $10,938,970 |