Neighborhood Capital Corporation
- Assets
- $106.8m
- Revenue
- $10.3m
- Investments
- $0.0
- Employees
- 21
- Location
- Silver Spring, MD
- Founding
- 03/2001
- Data as of
- 12/2021
- 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 12/2021, Neighborhood Capital Corporation employed 21 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 12/2021, Neighborhood Capital Corporation generated $10.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $4.8m during the year ending 12/2021. While expenses have increased by 7.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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 |
|---|---|---|---|
James Ferris CEO | Officer | 38 | $285,679 |
Elizabeth O'leary Chief Portfolio Officer | Officer | 38 | $198,459 |
Dana Moore CFO | Officer | 22.5 | $197,112 |
Stephen Peelor Chief Loan Officer | Officer | 38 | $196,859 |
Adam Coile Senior Portfolio Manager | 38 | $132,052 | |
Tamar Sarkisian Senior Loan Officer | 38 | $127,060 |
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 | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,330,265 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,330,265 |
| Total Program Service Revenue | $5,759,296 |
| Investment income | $16,747 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,006 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,287,510 |
| 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. | $528,636 |
| Compensation of current officers, directors, key employees. | $88,473 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,350,338 |
| Pension plan accruals and contributions | $74,940 |
| Other employee benefits | $133,624 |
| Payroll taxes | $127,869 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $68,158 |
| Fees for services: Accounting | $49,642 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $91,019 |
| Fees for services: Other | $150,509 |
| Advertising and promotion | $98,864 |
| Office expenses | $47,849 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $134,147 |
| Travel | $4,440 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,751 |
| Interest | $1,656,210 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,691 |
| Insurance | $26,854 |
| All other expenses | $6,786 |
| Total functional expenses | $4,769,343 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,506,759 |
| Savings and temporary cash investments | $5,800,940 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,606 |
| 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 | $56,944 |
| Net Land, buildings, and equipment | $73,626 |
| Investments—publicly traded securities | $528,356 |
| Investments—other securities | $0 |
| Investments—program-related | $96,575,770 |
| Intangible assets | $0 |
| Other assets | $242,352 |
| Total assets | $106,804,353 |
| Accounts payable and accrued expenses | $471,566 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $110,783 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $54,822,896 |
| Other liabilities | $0 |
| Total liabilities | $55,405,245 |
| Net assets without donor restrictions | $25,033,425 |
| 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 | $106,804,353 |
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 |
San Francisco, CA PURPOSE: GRANT TO HELP COVER PREDEVELOPMENT COSTS INCURRED BY EMERALD CITIES SAN FRANCISCO | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Neighborhood Capital Corporation has recieved totaling $2,500,000.
| Awarding Organization | Amount |
|---|---|
Neighborhood Reinvestment Corp Washington, DC PURPOSE: GENERAL SUPPORT | $2,500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Housing Counseling Services Inc Washington, DC | $4,430,833 | $16,498,572 |
Beyond Owners Group Inc Willow Street, PA | $131,731,512 | $8,827,345 |
People Incorporated Housing Group Abingdon, VA | $23,796,045 | $13,192,041 |
Manna Inc Washington, DC | $18,457,194 | $8,787,591 |
Habitat For Humanity International Inc Charlottesville, VA | $30,158,834 | $8,198,441 |
Housing Assistance Council Washington, DC | $50,242,099 | $11,554,116 |
University Properties Inc East Stroudsburg, PA | $58,514,914 | $5,926,957 |
Echelon Housing Inc North Bethesda, MD | $23,861,150 | $4,416,757 |
Rebuilding Together Pittsburgh Pittsburgh, PA | $2,584,527 | $5,910,311 |
Pennsylvania Community Real Estate Corporation Philadelphia, PA | $2,208,755 | $5,682,149 |
Comprehensive Housing Assistance Inc Baltimore, MD | $35,424,449 | $4,587,920 |
Neighborhood Capital Corporation Silver Spring, MD | $106,804,353 | $10,287,510 |