Neighborhood Concepts Inc
- Assets
- $14.1m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 7
- Location
- Huntsville, AL
- Founding
- 04/1989
- Data as of
- 12/2023
- EIN
- 57-0897928
Organization Overview
Neighborhood Concepts Inc is located in Huntsville, AL. The organization was established in 1989. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Neighborhood Concepts Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Concepts 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 12/2023, Neighborhood Concepts Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.2% each year . All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 12.7% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NEIGHBORHOOD CONCEPTS STRENGTHENS COMMUNITIES THROUGH THE (CONT'D ON SCHEDULE O) ADVANCEMENT OF EQUITABLE HOUSING AND ECONOMIC PATHWAYS SO ALL MAY THRIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING: NEIGHBORHOOD CONCEPTS, INC. HAS AN OWNERSHIP INTEREST IN PARTNERSHIPS THAT COLLECTIVELY OWN 1,197 UNITS OF AFFORDABLE MULTIFAMILY HOUSING IN ALABAMA, GEORGIA, AND SOUTH CAROLINA. EXPENSES ARE ASSOCIATED WITH ASSET MANAGEMENT OF THE EXISTING PORTFOLIO, DELIVERY OF RESIDENT SERVICES, DEVELOPMENT OF NEW AFFORDABLE HOUSING AND PRESERVATION OF AFFORDABLE HOUSING.
ECONOMIC DEVELOPMENT: THROUGH ITS WHOLLY OWNED REVOLVING LOAN FUND, NEIGHBORHOOD CONCEPTS, INC. MADE $1,953,760 IN LOANS TO SMALL BUSINESSES AND ENTREPRENEURS IN NORTH ALABAMA FOR START-UP CAPITAL, EQUIPMENT AND WORKING CAPITAL IN 2023. AT YEAR-END, 50% OF LOANS IN PORTFOLIO WERE BUSINESSES OWNED BY MINORITIES, 47% BY WOMEN-OWNED BUSINESSES AND 7% WERE OWNED BY LOW-INCOME INDIVIDUALS. ADDITIONALLY, 71% OF PORTFOLIO DOLLARS WERE LENT TO BUSINESSES LOCATED IN UNDERSERVED CENSUS TRACTS.
ADVOCACY: NEIGHBORHOOD CONCEPTS ADVOCATES FOR OPPORTUNITIES AND PROGRAMS THAT SUPPORT THE CREATION OF AFFORDABLE HOUSING AND THE ADVANCEMENT OF ECONOMIC OPPORTUNITIES FOR UNDERSERVED PEOPLE AND IN UNDERSERVED COMMUNITIES. ADVOCACY EFFORTS INCLUDE EDUCATION AND AWARENESS AS WELL AS POLICY SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanna Broad White Member | Trustee | 1 | $0 |
Bill Mcdowell Secretary | OfficerTrustee | 1 | $0 |
Stephen Norris Vice Chair | OfficerTrustee | 1 | $0 |
Ronald Childress Member | Trustee | 0.5 | $0 |
Jordan Kull Member | Trustee | 0.5 | $0 |
Jason Baldwin Treasurer | OfficerTrustee | 0.5 | $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 | $17,761 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,761 |
| Total Program Service Revenue | $1,399,604 |
| Investment income | $52,330 |
| 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 | $1,531,411 |
| 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. | $170,004 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $241,515 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $28,682 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,230 |
| Fees for services: Accounting | $23,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $103,416 |
| Advertising and promotion | $9,611 |
| Office expenses | $17,686 |
| Information technology | $5,482 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,738 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,484 |
| Interest | $219,287 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,205 |
| Insurance | $32,746 |
| All other expenses | $34,288 |
| Total functional expenses | $1,294,251 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,026,828 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,500 |
| Accounts receivable, net | $175,433 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,564,414 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,223 |
| Net Land, buildings, and equipment | $349,443 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,140,841 |
| Accounts payable and accrued expenses | $88,049 |
| 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 | $7,778,796 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $32,571 |
| Total liabilities | $7,899,416 |
| Net assets without donor restrictions | $6,210,806 |
| Net assets with donor restrictions | $30,619 |
| 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 | $14,140,841 |
Grants Awarded
Over the last fiscal year, Neighborhood Concepts Inc has awarded $25,687 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PEEK A BABY 4D BOUTIQUE LLC PURPOSE: PROVIDE FUNDING TO HELP WITH COSTS ASSOCIATED WITH COVID SHUTDOWN AND PROVIDE PPE FOR WORKERS AND CUSTOMERS | $10,247 |
KIDTOPIA PURPOSE: PROVIDE FUNDING TO HELP WITH COSTS ASSOCIATED WITH COVID SHUTDOWN AND PROVIDE PPE FOR WORKERS AND CUSTOMERS | $15,440 |