Neighborhood Lending Services Inc
- Assets
- $30.8m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 01/1989
- Data as of
- 03/2022
- EIN
- 36-3471392
Organization Overview
Neighborhood Lending Services Inc is located in Chicago, IL. The organization was established in 1989. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Lending Services 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 03/2022, Neighborhood Lending Services Inc generated $4.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $4.9m during the year ending 03/2022. 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
REVITALIZE UNDERSERVED CHICAGO NEIGHBORHOODS BY ORIGINATING AFFORDABLE FIXED-RATE MORTGAGE LOANS FOR LOW- AND MODERATE-INCOME BORROWERS THROUGHOUT CHICAGO, KANE COUNTY, AND SOUTH SUBURBAN COOK COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEIGHBORHOOD LENDING SERVICES, INC. (NLS) IS AN ILLINOIS RESIDENTIAL MORTGAGE LICENSE (#M000661) AND AN EQUAL OPPORTUNITY HOUSING LENDER, INCORPORATED IN 1987 TO PROVIDE AFFORDABLE FINANCING FOR HOME PURCHASE, HOME IMPROVEMENTS OR REFINANCE LOANS TO HELP BORROWERS BUY, FIX, AND KEEP THEIR HOMES. NLS ORIGINATES AFFORDABLE FIXED-RATE LOANS FOR BORROWERS IN THE CITY OF CHICAGO AND SOUTH SUBURBAN COOK COUNTY. NLS OFFERS FIRST MORTGAGES FOR HOME PURCHASE, PURCHASE-REHAB, REFINANCE AND REFINANCE-REHAB AND HOME IMPROVEMENT. THROUGH ITS PARTNERSHIPS WITH THE CITY OF CHICAGO, NLS ALSO OFFERS FORGIVABLE AND DEFERRED LOANS IN TANDEM WITH OTHER NLS LOAN PRODUCTS. THE MAJORITY OF OUR LOANS AND GRANTS WENT TO LOW-MODERATE INCOME NEIGHBORHOODS IN CHICAGO AND SOUTH SUBURBAN COOK COUNTY.
DURING FISCAL 2022 THE ORGANIZATION DISBURSED MORTGAGE AND RENTAL ASSISTANCE IN THE AMOUNT OF $1,352,145 TO ELIGIBLE INDIVIDUALS SO THAT THOSE PERSONS AND FAMILIES COULD CONTINUE TO BE HOUSED IN PLACE WITHOUT THE DISRUPTION OF RELOCATING AND THE RISK OF HOMELESSNESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Tucker President | OfficerTrustee | 5 | $0 |
Thomas Fitzgibbon Jr Secretary | OfficerTrustee | 5 | $0 |
Anthony Simpkins Chief Executive Officer | Officer | 10 | $0 |
Dwayne Shipp Director Of Finance | Officer | 10 | $0 |
Donna Clarke Chief Operating Officer | Officer | 10 | $0 |
Robin Coffey Chief Credit Officer | Officer | 30 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mike's Construction Inc Construction | 3/30/18 | $411,756 |
Modena General Contractors Inc Construction | 3/30/18 | $373,101 |
Bm Construction & Remodeling Inc Construction | 3/30/18 | $646,935 |
Columbus Construction Construction | 3/30/18 | $332,441 |
American Asbestos Solutions Construction | 3/30/18 | $324,690 |
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 | $100,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,000 |
| Total Program Service Revenue | $4,806,140 |
| 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 | $4,912,824 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,352,145 |
| 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 | $1,803,522 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,858 |
| Payroll taxes | $1,887 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $117,208 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,268 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,750 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $234,633 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,891,111 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,160,095 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,957,799 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,669,728 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $780 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,030,619 |
| Total assets | $30,819,021 |
| Accounts payable and accrued expenses | $1,199,028 |
| Grants payable | $0 |
| Deferred revenue | $7,157,516 |
| 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 | $3,000,000 |
| Unsecured mortgages and notes payable | $6,448,623 |
| Other liabilities | $493,775 |
| Total liabilities | $18,298,942 |
| Net assets without donor restrictions | $8,822,123 |
| Net assets with donor restrictions | $3,697,956 |
| 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 | $30,819,021 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Energy Services Inc Madison, WI | $8,275,764 | $17,473,845 |
Neighborhood Lending Services Inc Chicago, IL | $30,819,021 | $4,912,824 |
Bickerdike Redevelopment Corporation Chicago, IL | $86,161,772 | $4,493,644 |
Project Home Inc Madison, WI | $5,333,055 | $4,173,429 |
Wisconsin Native Loan Fund Inc Lac Du Flambeau, WI | $5,661,202 | $1,436,627 |
Hope Of Evansville Inc Evansville, IN | $1,278,111 | $550,592 |
Energy Assistance Foundation Decatur, IL | $2,534,598 | $752,015 |
United Neighborhoods Inc Hammond, IN | $1,715,145 | $339,107 |
East Central Iowa Housing Trust Fund Cedar Rapids, IA | $351,251 | $389,643 |
Two Rivers Council Foundation Quincy, IL | $455,052 | $383,235 |
Marquette Bank Affordable Housing Foundation Chicago, IL | $1,432,844 | $100,609 |
Chariton Valley Regional Housing Trust Fund Inc Centerville, IA | $1,328,374 | $578,135 |