Neighborhood Associates Corporation
- Assets
- $6.1m
- Revenue
- $545.8k
- Investments
- $0.0
- Employees
- 6
- Location
- Laura, MD
- Founding
- 11/2004
- Data as of
- 12/2023
- EIN
- 38-3654131
Organization Overview
Neighborhood Associates Corporation is located in Laura, MD. The organization was established in 2004. According to its NTEE Classification (P28) the organization is classified as: Neighborhood Centers, under the broad grouping of Human Services and related organizations. As of 12/2023, Neighborhood Associates Corporation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Associates 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 12/2023, Neighborhood Associates Corporation generated $545.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $975.9k during the year ending 12/2023. 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
TO IMPROVE URBAN NEIGHBORHOODS BY PROVIDING AFFORDABLE HOUSING AND CITIZEN-BASED PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SUPPORTS THE PRESERVATION AND ACTIVITIES OF LOW AND MODERATE-INCOME HOUSING THROUGH RELEVANT PARTNERSHIPS IN FLORIDA, KENTUCKY, MARYLAND, NORTH CAROLINA, PENNSYLVANIA, VIRGINIA, AND THE DISTRICT OF COLUMBIA
.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bobby Austin President/ceo Thru April 2024 | OfficerTrustee | 40 | $75,000 |
Gloria Cousar Board Member Through April 2024 | Trustee | 1 | $0 |
Marilyn Melkonian Chair Deceased March 2024 | OfficerTrustee | 2 | $0 |
Robert Hackett Vice Chair Through April 2024 | OfficerTrustee | 1 | $0 |
Ron Grzywinksi Treasurer Through April 2024 | OfficerTrustee | 1 | $0 |
Charles Tini Governor As Of April 2024 | OfficerTrustee | 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 | $125,147 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $125,147 |
| Total Program Service Revenue | $416,500 |
| Investment income | $4,129 |
| 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 | $545,776 |
| 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. | $75,000 |
| Compensation of current officers, directors, key employees. | $18,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $185,067 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $74,584 |
| Payroll taxes | $27,623 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $309 |
| Fees for services: Accounting | $6,080 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $77,630 |
| Advertising and promotion | $2,589 |
| Office expenses | $9,919 |
| Information technology | $2,923 |
| Royalties | $0 |
| Occupancy | $167,301 |
| Travel | $6,710 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $693 |
| Interest | $71,391 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $99,508 |
| Insurance | $40,208 |
| All other expenses | $0 |
| Total functional expenses | $975,896 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,937 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,555 |
| 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 | $115,603 |
| Net Land, buildings, and equipment | $5,682,526 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,055,621 |
| Accounts payable and accrued expenses | $44,702 |
| Grants payable | $0 |
| Deferred revenue | $32,556 |
| 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 | $5,622,523 |
| Unsecured mortgages and notes payable | $122,884 |
| Other liabilities | $0 |
| Total liabilities | $5,822,665 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $232,956 |
| Total liabilities and net assets/fund balances | $6,055,621 |
Grants Awarded
Over the last fiscal year, Neighborhood Associates Corporation has awarded $31,610 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ASSOCIATION OF FLORIDA TEACHING ARTS PURPOSE: Programming for youth | $13,590 |
DREAMS OF WILMINGTON INC PURPOSE: Youth Programming | $12,090 |
LOUISVILLE CENTRAL COMMUNITY CENTER PURPOSE: Youth Programming | $5,930 |