Nhs Neighborhood Redevelopment Corporation
- Assets
- $17.5m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 52
- Location
- Los Angeles, CA
- Founding
- 12/1997
- Data as of
- 06/2022
- EIN
- 95-4646848
Organization Overview
Nhs Neighborhood Redevelopment Corporation is located in Los Angeles, CA. The organization was established in 1997. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Nhs Neighborhood Redevelopment Corporation employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nhs Neighborhood Redevelopment Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
NHS NEIGHBORHOOD REDEVELOPMENT CORPORATION (NRC) CONTINUES ITS COMMITMENT TO STRENGTHEN LOW TO MODERATE INCOME COMMUNITIES THROUGH THE DEVELOPMENT OF AFFORDABLE AND SUSTAINABLE HOMEOWNERSHIP OPPORTUNITIES. FOR THIS FISCAL YEAR, NRC SERVED 10,068 CLIENTS. COUNSELING AND FINANCIAL LITERACY EDUCATION, ALONG WITH HOMEOWNERSHIP PROMOTION AND PRESERVATION SERVICES WERE PROVIDED TO 2,314 CLIENTS. NRC REINVESTED MORE THAN $45 MILLION AFFORDABLE LOANS AND PROTECTED OVER $1.3 BILLION IN HOME EQUITY THROUGH MORTGAGE RELIEF AND FORECLOSURE PREVENTION EFFORTS. NRC ALSO CONTINUED TO SERVE FAMILIES AND SMALL BUSINESSES THROUGH EXTENSIVE NEIGHBORHOOD REVITALIZATION WORK AND COMMUNITY EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sal Mendoza Chairman | OfficerTrustee | 1 | $0 |
Steve Herman Vice Chairman | OfficerTrustee | 1 | $0 |
Gloria Tang Secretary / Treasurer | OfficerTrustee | 1 | $0 |
Zeeda Daniele Board Member | Trustee | 1 | $0 |
Rigoberto Reyes Board Member | Trustee | 1 | $0 |
Ron Turner Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shield Casework Llc King Solomon Village & Wedc Project Cont | 6/29/22 | $273,385 |
Verdugo Construction Nrc Rehab Project Contractor | 6/29/22 | $181,156 |
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 | $1,327,126 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,327,126 |
| Total Program Service Revenue | $210,250 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $135,626 |
| Net Gain/Loss on Asset Sales | -$205,407 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,467,595 |
| 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. | $210,576 |
| Compensation of current officers, directors, key employees. | $19,680 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $901,803 |
| Pension plan accruals and contributions | $20,802 |
| Other employee benefits | $83,448 |
| Payroll taxes | $85,960 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,747 |
| Fees for services: Accounting | $16,667 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,029 |
| Advertising and promotion | $0 |
| Office expenses | $155,722 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,835 |
| Travel | $4,260 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,071 |
| Interest | $194,153 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $152,321 |
| Insurance | $0 |
| All other expenses | $58,297 |
| Total functional expenses | $3,159,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,247,604 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $39,805 |
| Accounts receivable, net | $371,192 |
| 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 | $21,476 |
| Net Land, buildings, and equipment | $15,829,426 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,509,503 |
| Accounts payable and accrued expenses | $156,240 |
| Grants payable | $0 |
| Deferred revenue | $832 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $695,885 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,839,486 |
| Unsecured mortgages and notes payable | $665,889 |
| Other liabilities | $2,138,749 |
| Total liabilities | $6,497,081 |
| Net assets without donor restrictions | -$525,184 |
| Net assets with donor restrictions | $11,537,606 |
| 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 | $17,509,503 |