Neighborgood Partners Inc

Organization Overview

Neighborgood Partners Inc is located in Dover, DE. The organization was established in 1958. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 09/2023, Neighborgood Partners Inc employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborgood Partners 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 09/2023, Neighborgood Partners Inc generated $7.9m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $5.8m during the year ending 09/2023. While expenses have increased by 1.7% per year over the past 4 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO STRENGTHEN COMMUNITIES THROUGH HOUSING, LENDING AND EDUCATION FOR LOW TO MODERATE INCOME HOUSEHOLDS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LOAN FUND: NEIGHBORGOOD PARTNERS IS CERTIFIED BY THE TREASURY DEPARTMENT AS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) AND AS SUCH HAS A LOAN FUND WHICH LENDS PRIMARILY TO NONPROFIT BORROWERS ON THE DELMARVA PENINSULA FOR THE PURPOSES OF AFFORDABLE HOUSING, COMMUNITY FACILITIES AND ECONOMIC DEVELOPMENT. LOAN PURPOSES ARE TYPICALLY PREDEVELOPMENT, ACQUISITION, AND/OR CONSTRUCTION FOR SINGLE-FAMILY AND MULTI-FAMILY HOUSING, NEIGHBORHOOD REVITALIZATION AND COMMUNITY-BASED FACILITIES, AS WELL AS WORKING CAPITAL. LOANS ARE UNDERWRITTEN BY STAFF AND APPROVED BY THE LOAN FUND COMMITTEE OF THE BOARD. NEIGHBORGOOD PARTNERS, AS A SHORT-TERM LENDER, SEEKS INVESTMENTS AND LOAN PARTICIPATIONS FOR CAPITAL TO LEND. ACTIVITY INCLUDES 22 NEW LOANS, TOTALING $15.2 MILLION WITH 60 LOANS BEING SERVICED OVERALL.


SEE SCHEDULE O, STATEMENT 2


HOMEOWNERSHIP: NEIGHBORGOOD PARTNERS IS A HUD-CERTIFIED HOUSING COUNSELING AGENCY AND AS SUCH PROVIDE COMPREHENSIVE HOMEOWNERSHIP COUNSELING AND EDUCATION SERVICES TO LOW AND MODERATE INCOME HOUSEHOLDS IN DELAWARE. WITH TRAINED AND CERTIFIED COUNSELORS, NEIGHBORGOOD PARTNERS PROVIDES A FULL-SERVICE "PREPARING FOR HOMEOWNERSHIP" CURRICULUM IN GROUP AND INDIVIDUAL SESSIONS GEARED TOWARDS ASSISTING RENTER HOUSEHOLDS TO BECOME MORTGAGE-READY AS FIRST-TIME HOMEBUYERS. HOUSEHOLDS PARTICIPATE, BECOME INFORMED CONSUMERS, AND WORK TO BECOME ELIGIBLE FOR ACCESS TO SOUND MORTGAGE PRODUCTS. ACTIVITY INCLUDED 640 HOUSEHOLDS COUNSELED AND 224 HOUSEHOLDS ACHIEVING HOMEOWNERSHIP.


SELF-HELP HOUSING TECHNICAL AND MANAGEMENT ASSISTANCE: NEIGHBORGOOD PARTNERS PROVIDES TECHNICAL AND MANAGEMENT ASSISTANCE (T&MA) TO LOCAL SELF-HELP HOUSING GRANTEES IN A 21 STATE REGION OF THE NORTHEAST AND NORTH CENTRAL AREAS OF THE UNITED STATES THROUGH A CONTRACT WITH USDA'S RURAL HOUSING SERVICE. STAFF TRAINING, QUARTERLY REVIEW MEETINGS, NEWSLETTERS, APPLICATION PREPARATION AND REVIEWS, PROGRESS MONITORING, PROBLEM SOLVING, AND OTHER SUPPORT IS PROVIDED TO SELF-HELP HOUSING GRANTEES TO BUILD OR REPAIR 50-75 HOMES A YEAR USING PARTICIPANT FAMILY SWEAT EQUITY. FAMILIES ARE LOW AND VERY LOW INCOME TYPICALLY USING THE RD 502 MORTGAGE PROGRAM FOR BUILDING MATERIALS AND THE FAMILIES PROVIDE THE LABOR. NEIGHBORGOOD PARTNERS ACTS AS AN INTERMEDIARY PROVIDING THE SUPPORT SERVICES TO THE GRANTEES WHO IN TURN OVERSEE AND ASSIST THE PARTICIPATING FAMILIES IN BUILDING THEIR HOMES. ACTIVITY INCLUDED MANAGEMENT AND TECHNICAL SUPPORT TO 9 SELF-HELP GRANTEES AND 61 HOUSES WERE BUILT.


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Board, Officers & Key Employees

Name (title)Compensation
Karen Speakman
Executive Director
$123,360
J Randall Kunkle
President
$0
John G Moore
Vice President
$0
Anthony Deprima
Treasurer
$0
Tracey Harvey
Secretary
$0
Kim Adams
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $6,038,340
All other contributions, gifts, grants, and similar amounts not included above$491,793
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$6,530,133
Total Program Service Revenue$1,140,343
Investment income $228,101
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 $7,900,254

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