Neighborhood Housing Services Of Waterbury Inc

Organization Overview

Neighborhood Housing Services Of Waterbury Inc is located in Waterbury, CT. The organization was established in 1980. 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 12/2021, Neighborhood Housing Services Of Waterbury Inc employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Housing Services Of Waterbury 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 12/2021, Neighborhood Housing Services Of Waterbury Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 4.8% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

BUILD STRONG NEIGHBORHOODS AND COMMUNITIES OF CHOICE THROUGH AFFORDABLE AND COMPREHENSIVE HOUSING DEVELOPMENT, FINANCIAL EDUCATION, AND FURTHERING HOME AND COMMUNITY OWNERSHIP.

Describe the Organization's Program Activity:

Part 3 - Line 4a

HOMEOWNERSHIP IS THE CORNERSTONE OF A STRONG COMMUNITY. THROUGH NEIGHBORHOOD HOUSING SERVICES OF WATERBURY'S (NHSW) HOMEOWNERSHIP PROMOTION PROGRAMS, POTENTIAL HOMEBUYERS ARE PROVIDED WITH THE TOOLS NECESSARY TO SUCCEED AND MAKE THEIR DREAMS OF LIFELONG HOMEOWNERSHIP A REALITY THROUGH PRE- AND POST-PURCHASE COUNSELING AND CLASSES, BUDGETING AND DEBT MANAGEMENT, FINANCIAL PLANNING AND MANAGEMENT, CREDIT REPAIR, AND LANDLORD EDUCATION. THE HOMEOWNERSHIP PRESERVATION PROGRAM COMBINES CLINICS AND COUNSELING SERVICES TO HELP EXISTING HOMEOWNERS HOLD ON TO THEIR HOMES WHEN CHALLENGE ARISE THROUGH WITH BUDGETING AND SPENDING COUNSELING AND REFINANCING HELP, DO-IT-YOURSELF TRAINING AND EDUCATION ON LOWERING THE COSTS OF OWNING A HOME; AND AVOID FORECLOSURE, MINIMIZE LOSSES AND RECEIVE HELP WITH LOAN MODIFICATIONS. IN 2019, NHSW WORKED WITH 1,239 CLIENTS FOR EDUCATION AND COUNSELING, 286 HOMEOWNERS WERE CREATED, 12 HOUSEHOLDS WERE ABLE TO PREVENT FORECLOSURE. COMMUNITY BUILDING AND ENGAGEMENT ACTIVITIES WORK IN TANDEM WITH REAL ESTATE ACTIVITIES AND ARE KEY FOR EFFECTIVE COMMUNITY DEVELOPMENT AND NECESSARY TO BUILDING HEALTHY COMMUNITIES BY BUILDING RESIDENT LEADERSHIP, STRENGTHENING RESIDENT LED ASSOCIATIONS, AND PROMOTING COMMUNITY BUILDING ACTIVITIES.


NEIGHBORHOOD HOUSING SERVICES OF WATERBURY IS COMMITTED TO PROVIDING HOMEOWNERSHIP AND HOME PRESERVATION SERVICES TO INDIVIDUALS AND FAMILIES. IN 2020, WE PROVIDED SERVICES TO ALMOST 1,900 HOUSEHOLDS, OF WHICH 700+RECEIVED HELP SECURING RENTAL PAYMENT ASSISTANCE DURING COVID AND 203 NEW HOMEOWNERS WERE CREATED. NHSW MANAGES AN AFFORDABLE RENTAL APARTMENT DEVELOPMENT IN THE NORTH END OF WATERBURY, CONSISTING OF 10 TOWNHOUSE STYLE, TWO- AND THREE-STORY, 3 BEDROOM, 2 BATHS UNITS AVERAGING 1,252 SQ. FT. PER UNIT. ADDITIONALLY, NHSW OWNS THE LAND FOR A 51 AFFORDABLE HOMEOWNERSHIP DEVELOPMENT CALLED OLD FARM RIDGE.


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Board, Officers & Key Employees

Name (title)Compensation
David Aurigemma
Secretary
$0
Nancy B Fay
Treasurer
$0
Raechel Guest
President
$0
Francis Guerrera
Vice Preside
$0
Michelle Grull
Director
$0
Warren Leach
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $480,065
All other contributions, gifts, grants, and similar amounts not included above$245,388
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$725,453
Total Program Service Revenue$667,551
Investment income $415
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$1,021
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,389,491

Grants Recieved

Over the last fiscal year, we have identified 14 grants that Neighborhood Housing Services Of Waterbury Inc has recieved totaling $416,931.

Awarding OrganizationAmount
Leever Foundation Inc

Reston, VA

PURPOSE: COMMUNITY PROGRAMS

$154,657
Connecticut Community Foundation Inc

Waterbury, CT

PURPOSE: GIVE LOCAL 2021; RENTAL RELIEF; CDA REVOLVING LOAN FUND; URBAN FORESTRY PROGRAM; YOUTH FINANCIAL EDUCATION ACADEMY

$111,162
William Caspar Graustein Memorial Fund

Hamden, CT

PURPOSE: GENERAL OPERATING SUPPORT FOR UNGROUP SOCIETY

$50,000
Local Initiatives Support Corporation

New York, NY

PURPOSE: SEE PART IV

$40,000
William Caspar Graustein Memorial Fund

Hamden, CT

PURPOSE: THE UNGROUP SOCIETY: COMMUNITY IN EDUCATION TEACHING PARTNERSHIP

$25,000
American Savings Foundation Inc

New Britain, CT

PURPOSE: PROGRAM GRANTS - HOMEOWNERSHIP EDUCATION & LOSS PREVENTION PROGRAM 2021

$12,000
View Grant Recipient Profile

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