Neighborhood Finance Corporation

Analysis

Neighborhood Finance Corporation is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in May 1990, 36 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Neighborhood Finance Corporation reported income of $11.6m and spending of $7.2m, leaving 38% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.7m to $11.6m (+8.1%), an average of +2.0% a year. The sharpest change came in the year to December 2023, when income rose by 70%. Over the whole period it spent 72% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Neighborhood Finance Corporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IA. Charities of a similar size with the same main cause include Utility Emergency Services Fund ($11.5m), Western Region Nonprofit Housing Corporation ($11.6m) and Community Rebuilders ($11.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $460k (6.4% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $101.2m against liabilities of $40.1m, net assets of $61.1m. It reported 23 employees.