Form 990 for tax year 2024
Filed by NEIGHBORHOOD BUILDING CORPORATION.
Totals
- Total revenue
- $5,417,303
- Total expenses
- $5,664,583
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $5,417,274
- Investment income
- $29
- Other revenue
- $0
- Total assets, end of year
- $1,151,750
- Total liabilities, end of year
- $1,399,030
- Net assets or fund balances, end of year
- -$247,280
- Program services expenses (Part IX)
- $5,537,210
- Management and general expenses
- $127,373
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $5,537,210
Program services were 97.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: CONTRACT REVENUE
total $5,417,274 · related or exempt $5,417,274
-
3 · Investment income
total $29 · excluded $29
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $338,606 · program services $233,946 · management and general $104,660
-
9 · Other employee benefits
total $29,816 · program services $18,196 · management and general $11,620
-
10 · Payroll taxes
total $30,017 · program services $20,107 · management and general $9,910
-
11a · Fees: management
total $270,000 · program services $270,000
-
11b · Fees: legal
total $9,226 · program services $9,226
-
11c · Fees: accounting
total $27 · program services $27
-
11g · Fees: other
total $4,873,399 · program services $4,873,399
-
13 · Office expenses
total $4,003 · program services $3,404 · management and general $599
-
14 · Information technology
total $300 · program services $300
-
17 · Travel
total $5,417 · program services $5,417
-
19 · Conferences, conventions and meetings
total $522 · program services $522
-
20 · Interest
total $1,576 · program services $1,576
-
22 · Depreciation, depletion and amortization
total $5,116 · program services $5,116
-
23 · Insurance
total $89,036 · program services $89,036
-
24a · Other expenses: MOTOR POOL EXPENSE
total $6,907 · program services $6,907
-
24b · Other expenses: LICENSES, PERMITS & FEE
total $465 · program services $31 · management and general $434
-
24c · Other expenses: REAL ESTATE TAXES
total $150 · management and general $150
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $16,426
-
4 · Accounts receivable
beginning of year $125,526 · end of year $1,102,071
-
10a · Land, buildings and equipment: cost or other basis
$38,369
-
10b · Land, buildings and equipment: accumulated depreciation
$5,116
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $33,253
-
17 · Accounts payable and accrued expenses
beginning of year $125,526 · end of year $1,354,215
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $34,844
-
25 · Other liabilities
beginning of year $0 · end of year $9,971
-
27 · Net assets without donor restrictions
beginning of year $0 · end of year -$247,280
Mission and programs · 2024
Mission
TO DEVELOP AND CONSTRUCT AFFORDABLE HOUSING FOR LOW-INCOME INDIVIDUALS AND FAMILIES THROUGHOUT OREGON.
Activities or mission (Part I)
TO PROVIDE LOW-INCOME HOUSING.
-
DEVELOP AND CONSTRUCT PERMANENTLY AFFORDABLE COMMUNITY LAND TRUST HOMES IN CONJUNCTION WITH CORVALLIS NEIGHBORHOOD HOUSING SERVICES AND OTHER NONPROFIT AFFORDABLE COMMUNITY LAND TRUST DEVELOPERS THROUGHOUT OREGON. IN 2024, NEIGHBORHOOD BUILDING CORPORATION COMPLETED 12 COMMUNITY LAND TRUST HOMES IN LANE COUNTY AND BEGAN CONSTRUCTION ON THREE ADDITIONAL DEVELOPMENT SITES THAT WILL ADD 49 ADDITIONAL LAND TRUST HOMES.
Expenses $5,537,210 · Revenue $5,417,274
As filed on the 2024 return.
Listed in Part VII
-
Cynthia LedouxCYNTHIA LEDOUX
CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Chrystal ShearerCHRYSTAL SHEARER
SECRETARY
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Daniela AbramsDANIELA ABRAMS
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Albert KongALBERT KONG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Staci LarsonSTACI LARSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jin PlummerJIN PLUMMER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Duane WalrodDUANE WALROD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Timothy CohalaTIMOTHY COHALA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Emily ReimanEMILY REIMAN
CHIEF EXECUTIVE OFFICER
- Total calculated
- $159,281
- From this org
- $0
- From related orgs
- $147,529
- Other
- $11,752
- Hours/week
- 5 + 49 related
Schedule J breakdown matched by us
- Base
- $0 + $147,529 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $4,441 related
- Nontaxable benefits
- $0 + $7,311 related
- Filer's total
- $0 + $159,281 related
-
Corinne Carmody-RileyCORINNE CARMODY-RILEY
CHIEF FINANCIAL OFFICER
- Total calculated
- $145,961
- From this org
- $0
- From related orgs
- $134,184
- Other
- $11,777
- Hours/week
- 5 + 48 related
-
Joshua ShaferJOSHUA SHAFER
DIR. OF CONSTRUCTIONS MGMT
- Total calculated
- $143,341
- From this org
- $0
- From related orgs
- $136,030
- Other
- $7,311
- Hours/week
- 40
-
Jacob ShaferJACOB SHAFER
CONSTRUCTION SUPERINTENDANT
- Total calculated
- $126,341
- From this org
- $0
- From related orgs
- $119,030
- Other
- $7,311
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER IS PAID BY CORVALLIS NEIGHBORHOOD HOUSING SERVICES, A RELATED ENTITY.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · LENDING · OR
Directly controlled by CORVALLIS NEIGHBORHOOD HOUSING SERVICES
-
CORVALLIS NEIGHBORHOOD HOUSING SERVICES
501(C)(3) · HOUSING · OR
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202543219349310264
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