Neighborhood Capital Corporation
- Assets
- $108.2m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 18
- Location
- Silver Spring, MD
- Founding
- 03/2001
- Data as of
- 12/2022
- EIN
- 84-1542593
Organization Overview
Neighborhood Capital Corporation is located in Silver Spring, MD. The organization was established in 2001. 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 12/2022, Neighborhood Capital Corporation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Capital Corporation 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 12/2022, Neighborhood Capital Corporation generated $8.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $5.0m during the year ending 12/2022. While expenses have increased by 8.7% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
NEIGHBORWORKS CAPITAL DELIVERS THE FLEXIBLE CAPITAL NEEDED BY NEIGHBORWORKS AMERICA AFFILIATES TO PROVIDE AFFORDABLE HOMES AND STRENGTHEN COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING FINANCING FOR THE ACQUISITION, DEVELOPMENT, AND REHABILITATION OF AFFORDABLE HOMES FOR SALE, RENTAL AND COMMERCIAL PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caroline Horton Treasurer | OfficerTrustee | 1 | $0 |
Charlotte Crow Director | Trustee | 1 | $0 |
Fred Dodson Director | Trustee | 1 | $0 |
Grace Chionuma Director | Trustee | 1 | $0 |
Jeanne Pinado President | OfficerTrustee | 1 | $0 |
Jeff Reed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Klein Hornig Llp Legal Services | 12/30/19 | $159,050 |
Compass Advisors Llc Consulting | 12/30/19 | $143,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $589,496 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,125,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,714,496 |
| Total Program Service Revenue | $4,959,021 |
| Investment income | $33,856 |
| 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 | $8,857,507 |
| 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. | $1,067,372 |
| Compensation of current officers, directors, key employees. | $185,146 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,249,908 |
| Pension plan accruals and contributions | $70,425 |
| Other employee benefits | $150,371 |
| Payroll taxes | $156,092 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,281 |
| Fees for services: Accounting | $66,548 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $54,105 |
| Fees for services: Other | $186,780 |
| Advertising and promotion | $58,962 |
| Office expenses | $54,219 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $146,125 |
| Travel | $86,855 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,960 |
| Interest | $1,275,697 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,686 |
| Insurance | $37,361 |
| All other expenses | $41,463 |
| Total functional expenses | $4,991,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,808,198 |
| Savings and temporary cash investments | $9,053,607 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $75,246 |
| 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 | $80,327 |
| Net Land, buildings, and equipment | $47,721 |
| Investments—publicly traded securities | $529,544 |
| Investments—other securities | $0 |
| Investments—program-related | $93,841,311 |
| Intangible assets | $561,499 |
| Other assets | $233,112 |
| Total assets | $108,230,565 |
| Accounts payable and accrued expenses | $1,059,247 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,566,402 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $49,339,362 |
| Other liabilities | $0 |
| Total liabilities | $52,965,011 |
| Net assets without donor restrictions | $28,899,871 |
| Net assets with donor restrictions | $26,365,683 |
| 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 | $108,230,565 |
Grants Awarded
Over the last fiscal year, Neighborhood Capital Corporation has awarded $75,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
AHEAD INC PURPOSE: GRANT FUNDS FOR SOLAR ARRAY FOR COMMUNITY LIVING AT LLOYDS HILL, BETHLEHEM, NH | $50,000 |
CHINATOWN COMMUNITY DEVELOPMENT CENTER PURPOSE: GRANT TO HELP COVER PREDEVELOPMENT COSTS INCURRED BY EMERALD CITIES SAN FRANCISCO | $25,000 |