Neighborhood Reinvestment Corp
- Assets
- $101.0m
- Revenue
- $232.4m
- Investments
- $2.5m
- Employees
- 352
- Location
- Washington, DC
- Founding
- 03/1980
- Data as of
- 09/2023
- EIN
- 52-1148078
Organization Overview
Neighborhood Reinvestment Corp, operating under the name Neighborworks America, is located in Washington, DC. The organization was established in 1980. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Neighborworks America employed 352 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborworks America 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 America generated $232.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $220.0m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Neighborworks America has awarded 3,927 individual grants totaling $1,077,506,461. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CREATE OPPORTUNITIES FOR PEOPLE TO LIVE IN AFFORDABLE HOMES, IMPROVE THEIR LIVES AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAPACITY BUILDING: CAPACITY BUILDING REFERS TO THE PRACTICAL ASSISTANCE THE CORPORATION PROVIDES TO STRENGTHEN THE PERFORMANCE OF NEIGHBORWORKS ORGANIZATIONS TO RESPOND MOST EFFECTIVELY AND EFFICIENTLY TO THE NEEDS OF THEIR COMMUNITIES. THE CORPORATION EXPANDS THE CAPACITY OF NETWORK MEMBERS BY PROVIDING ONSITE TECHNICAL ASSISTANCE AND LIMITED FUNDING.
PRESERVING AFFORDABLE HOUSING: ORGANIZATIONS CONSTRUCT NEW HOUSING, REPAIR AND RENOVATE EXISTING HOUSING, PROMOTE HOMEOWNERSHIP, AND FURTHER MIXED-INCOME AFFORDABLE HOUSING OPPORTUNITIES. THE CORPORATION ALSO SUPPORTS THE ORGANIZATIONS' HAZARD ABATEMENT, ENERGY CONSERVATION, POST PURCHASE COUNSELING, AND FORECLOSURE PREVENTION ACTIVITIES. EQUITY CAPITAL, IN THE FORM OF HIGHLY FLEXIBLE CORPORATION GRANTS TO LOCAL ORGANIZATIONS' REVOLVING LOAN FUNDS, IS ALSO VITALLY IMPORTANT. REVOLVING LOAN FUNDS ARE USED TO SUPPORT HOME REPAIRS, DOWN-PAYMENT AND CLOSING-COST ASSISTANCE, ENERGY CONSERVATION REPAIRS, COMMERCIAL AND SMALL BUSINESS LOANS, PREDEVELOPMENT COSTS, ACQUISITION OF PROBLEM PROPERTIES, AND A HOST OF OTHER INITIATIVES.
HOUSING COUNSELING STABILITY PROGRAM: THE AMERICAN RESCUE PLAN PROVIDED FUNDING TO NEIGHBORWORKS AMERICA TO DESIGN AND ADMINISTER IT'S HOUSING STABILITY COUNSELING PROGRAM (HSCP). THE HSCP IS ADMINISTERED NATIONWIDE AND AIMS TO HELP ELIGIBLE NONPROFIT AGENCIES THAT PROVIDE DIRECT COUNSELING SERVICES TO INDIVIDUALS AND FAMILIES FACING HOUSING INSTABILITY SUCH AS EVICTION, FORECLOSURE, AND HOMELESSNESS. THE HSCP INCREASES THE CAPACITY OF NEIGHBORWORKS AMERICA TO PROVIDE A HIGHER-LEVEL HOUSING COUNSELING THROUGH HUD-APPROVED HOUSING COUNSELING AGENCIES, STATE HOUSING FINANCE AGENCIES (SHFA), AND NEIGHBORWORKS ORGANIZATIONS (NWOS).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan M Ifill Executive VP & COO | Officer | 40 | $207,136 |
Marietta E Rodriguez President & CEO | Officer | 40 | $216,951 |
Rutledge A Simmons Evp & General Counsel/sec | Officer | 40 | $192,890 |
Joan M Straussman Rvp, Northeast Region | 40 | $183,601 | |
Kemba M Esmond Evp & Chief Financial Off. | Officer | 40 | $201,046 |
Valerie Navy-Daniels Svp, Resource Development | 40 | $182,679 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Attain Consulting Group Llc Consulting | 9/29/23 | $1,051,532 |
Dayra Watkis Dba Danalex Techno Svc Consulting | 9/29/23 | $244,575 |
Terrapin Systems Llc Dba Terpsys Technologysolutions | 9/29/23 | $226,566 |
Db Latimore Professional Services G Consulting | 9/29/23 | $182,750 |
The Robert Joseph Group Llc Consulting | 9/29/23 | $157,030 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $207,803,116 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,693,097 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $222,496,213 |
| Total Program Service Revenue | $5,545,480 |
| Investment income | $3,565,328 |
| 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 | $232,444,681 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $141,619,446 |
| 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. | $1,874,200 |
| Compensation of current officers, directors, key employees. | $1,726,194 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,490,314 |
| Pension plan accruals and contributions | $3,249,356 |
| Other employee benefits | $6,796,971 |
| Payroll taxes | $2,599,224 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $269,925 |
| Fees for services: Accounting | $96,628 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,240,073 |
| Advertising and promotion | $0 |
| Office expenses | $9,447,898 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,638,460 |
| Travel | $1,561,726 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $789,537 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,311,532 |
| Insurance | $0 |
| All other expenses | $2,603 |
| Total functional expenses | $219,987,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $56,346,531 |
| Pledges and grants receivable | $3,675,620 |
| Accounts receivable, net | $1,585,113 |
| 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 | $2,431,026 |
| Net Land, buildings, and equipment | $1,852,443 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,512,533 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,595,798 |
| Total assets | $100,999,064 |
| Accounts payable and accrued expenses | $9,432,322 |
| Grants payable | $1,083,291 |
| Deferred revenue | $33,242,097 |
| 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 | $36,968,022 |
| Total liabilities | $80,725,732 |
| Net assets without donor restrictions | $12,592,332 |
| Net assets with donor restrictions | $7,681,000 |
| 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 | $100,999,064 |
Grants Awarded
Over the last fiscal year, Neighborhood Reinvestment Corp has awarded $136,613,728 in support to 326 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY HOUSING CAPITAL INC PURPOSE: GENERAL SUPPORT | $3,000,000 |
NEIGHBORWORKS CAPITAL CORPORATION PURPOSE: GENERAL SUPPORT | $3,000,000 |
MONEY MANAGEMENT INTERNATIONAL INC PURPOSE: GENERAL SUPPORT | $2,432,896 |
ILLINOIS HOUSING DEVELOPMENT AUTHORITY PURPOSE: GENERAL SUPPORT | $2,746,920 |
NATIONAL FDN FOR CREDIT COUNSELING INC PURPOSE: GENERAL SUPPORT | $2,086,007 |
GREENPATH INC PURPOSE: GENERAL SUPPORT | $1,614,549 |