Form 990 for tax year 2024

Totals

Total revenue

$1,788,211

Total expenses

$2,870,761

Contributions and grants received

$846,565

Grants paid

$65,000

Program service revenue

$878,344

Investment income

$63,302

Other revenue

$0

Total assets, end of year

$17,736,717

Total liabilities, end of year

$18,319,736

Net assets or fund balances, end of year

-$583,019

Program services expenses (Part IX)

$2,615,122

Management and general expenses

$232,297

Fundraising expenses

$23,342

Program service expenses (Part III)

$2,615,122

Program services were 91.1% 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.

Mission and programs · 2024

• HOUSING AND FINANCIAL EMPOWERMENT SERVICES:EMPOWERING FAMILIES. BUILDING FUTURES. STRENGTHENING COMMUNITIES.DURING FY24-25, NEIGHBORHOOD DEVELOPMENT ALLIANCE (NEDA) DELIVERED BILINGUAL (SPANISH/ENGLISH), CULTURALLY RELEVANT HOUSING AND FINANCIAL EMPOWERMENT SERVICES TO LOW- AND MODERATE-INCOME HOUSEHOLDS, PRIMARILY FAMILIES OF COLOR. AS A HUD-CERTIFIED HOUSING COUNSELING AGENCY ROOTED IN SAINT PAUL'S WEST SIDE, NEDA SUPPORTED FAMILIES IN NAVIGATING COMPLEX HOUSING AND FINANCIAL SYSTEMS WITH DIGNITY, CULTURAL RESPONSIVENESS, AND CONFIDENCE. THESE SERVICES ADVANCED HOUSING STABILITY, ASSET BUILDING, AND LONG-TERM ECONOMIC MOBILITY WHILE ADDRESSING SYSTEMIC BARRIERS TO HOMEOWNERSHIP.PROGRAM REACH AND SERVICE DELIVERYIN ALIGNMENT WITH NEDA'S MISSION TO CLOSE THE RACIAL HOMEOWNERSHIP GAP AND PROMOTE FINANCIAL EMPOWERMENT, THE ORGANIZATION RECORDED 874 CLIENT INTERACTIONS ACROSS INDIVIDUALIZED ADVISING AND GROUP EDUCATION DURING THE REPORTING PERIOD. SERVICES WERE TAILORED TO MEET THE NEEDS OF HISTORICALLY UNDERSERVED COMMUNITIES AND INCLUDED THE FOLLOWING: 1:1 HOMEBUYER ADVISING: 102 INDIVIDUALS RECEIVED PERSONALIZED GUIDANCE TO NAVIGATE THE HOMEBUYING PROCESS, BUILDING READINESS FOR SUSTAINABLE HOMEOWNERSHIP. HOMESTRETCH EDUCATION WORKSHOPS: 305 PARTICIPANTS COMPLETED GROUP EDUCATION COVERING FIRST-TIME HOMEBUYER REQUIREMENTS AND FINANCIAL PREPARATION. 1:1 FINANCIAL WELLNESS ADVISING: 102 CLIENTS ENGAGED IN INDIVIDUALIZED COACHING FOCUSED ON FINANCIAL STABILITY AND LONG-TERM WEALTH BUILDING. HOME MAINTENANCE ADVISING: 37 HOMEOWNERS RECEIVED EDUCATION ON PROPERTY MAINTENANCE TO PRESERVE HOUSING QUALITY AND ASSET VALUE. RENTAL TOPICS WORKSHOPS: 31 PARTICIPANTS ATTENDED WORKSHOPS ADDRESSING TENANT RIGHTS, RESPONSIBILITIES, AND PATHWAYS TO HOMEOWNERSHIP. FORECLOSURE ADVISING: 21 HOUSEHOLDS RECEIVED CRISIS INTERVENTION SERVICES TO PREVENT FORECLOSURE AND STABILIZE HOUSING. FINANCIAL MANAGEMENT AND BUDGET ADVISING: 58 CLIENTS STRENGTHENED BUDGETING AND MONEY MANAGEMENT SKILLS CRITICAL TO HOUSING STABILITY. FINANCIAL LITERACY EDUCATION: 64 PARTICIPANTS ATTENDED ADDITIONAL WORKSHOPS TO DEEPEN FINANCIAL KNOWLEDGE. REFINANCE ADVISING: 10 HOUSEHOLDS EXPLORED REFINANCING OPTIONS TO SECURE MORE AFFORDABLE MORTGAGE TERMS.FAIR HOUSING AND HOMEOWNERSHIP IMPACTNEDA PROVIDED COMPREHENSIVE HOMEOWNERSHIP COUNSELING AND SUPPORT TO 67 HOUSEHOLDS NAVIGATING RISING HOUSING COSTS, ELEVATED INTEREST RATES, AND LONGSTANDING STRUCTURAL BARRIERS TO HOMEOWNERSHIP. THROUGH CULTURALLY RESPONSIVE, HUD-CERTIFIED COACHING, THESE HOUSEHOLDS SUCCESSFULLY ACHIEVED FIRST-TIME HOMEOWNERSHIP.KEY OUTCOMES INCLUDE: 67 HOUSEHOLDS SUPPORTED INTO HOMEOWNERSHIP AVERAGE HOME PURCHASE PRICE: $269,000 AVERAGE CASH-TO-CLOSE: $20,340 PER HOUSEHOLD $18,053,289 IN TOTAL COMMUNITY INVESTMENT GENERATED THROUGH LOCAL HOME PURCHASESDESPITE AVERAGE INTEREST RATES OF APPROXIMATELY 6.764% DURING THE REPORTING PERIOD, PARTICIPATING HOUSEHOLDS SUCCESSFULLY COMPLETED HOME PURCHASES WITH NEDA'S GUIDANCE, CONTRIBUTING TO LONG-TERM HOUSING STABILITY AND ASSET BUILDING WITHIN THE COMMUNITY.ADDITIONAL FINANCIAL EMPOWERMENT AND ASSET-BUILDING OUTCOMES 7,528 HOURS OF TECHNICAL ASSISTANCE PROVIDED ACROSS HOUSING, FINANCIAL, AND SMALL BUSINESS SERVICES 200+ PERMANENT AFFORDABLE RENTAL HOMES CREATED OR PRESERVED IN MINNESOTA, INCLUDING INCREASING OCCUPANCY AT THE RECENTLY INAUGURATED STRYKER SENIOR HOUSING FROM 40% TO 96% FAMILY ASSETS FOR INDEPENDENCE IN MINNESOTA (FAIM): SUPPORTED 10 PARTICIPANTS, WITH FOUR ACHIEVING ASSET GOALS DURING THE FISCAL YEAR, RESULTING IN $48,000 IN MATCHED SAVINGS, INCLUDING 2 VEHICLE PURCHASES, 4 HOME PURCHASES, 3 SMALL BUSINESS LAUNCHES, AND 1 INVESTMENT IN HIGHER EDUCATION CREDIT BUILDER LOANS: 57 LOANS ORIGINATED TOTALING $9,600, SUPPORTING CREDIT ACCESS AND REPAIR HOME IMPROVEMENT AND DOWN PAYMENT ASSISTANCE: NEDA AWARDED TWO HOME IMPROVEMENT LOANS TOTALING $40,860, SIX REVOLVING FORGIVABLE LOANS, ONE MHFA LOAN TOTALING $13,000, AND $65,000 IN FORGIVABLE DOWN PAYMENT ASSISTANCE LOANS TO HOUSEHOLDS FOR CRITICAL IMPROVEMENTS.THESE TARGETED INVESTMENTS PRESERVED AFFORDABILITY, STRENGTHENED NEIGHBORHOOD STABILITY, ENHANCED COMMERCIAL CORRIDORS, AND SUPPORTED PROPERTY OWNERS AND SMALL BUSINESS OWNERSMANY OF WHOM ARE PEOPLE OF COLORCONTRIBUTING TO A MORE RESILIENT AND INCLUSIVE LOCAL ECONOMY.COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) IMPACTSINCE BECOMING A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) IN 2018, NEDA CENTRO HAS EXPANDED ACCESS TO CAPITAL FOR UNDERSERVED COMMUNITIES. IN 2024, NEDA SECURED AN ADDITIONAL $300,000 FROM THE U.S. DEPARTMENT OF THE TREASURY, ENABLING A 140% INCREASE IN TECHNICAL ASSISTANCE GRANTS AWARDED. NEDA SERVES RENTERS, HOMEOWNERS, AND SMALL BUSINESS OWNERS OF COLOR AT RATES EXCEEDING PRIVATE MARKET REACH, ADVANCING EQUITABLE LENDING, FINANCIAL INCLUSION, AND PROTECTIONS AGAINST PREDATORY PRACTICES.ASSESSING COMMUNITY NEEDSNEDA SERVES COMMUNITIES EXPERIENCING PERSISTENT RACIAL AND ECONOMIC INEQUITIES. OF THE HOUSEHOLDS RECEIVING RENTAL OR HOMEOWNERSHIP SERVICES, 92% IDENTIFY AS HOUSEHOLDS OF COLOR, AND 19% ARE SEVERELY HOUSING COST-BURDENED, SPENDING 30% OR MORE OF HOUSEHOLD INCOME ON HOUSING. MANY PARTICIPANTS ARE FIRST-GENERATION HOMEBUYERS, CREDIT-INVISIBLE, OR LACK ACCESS TO FINANCIAL EDUCATION, UNDERSCORING THE NEED FOR TAILORED, CULTURALLY RESPONSIVE SERVICES THAT PROMOTE LONG-TERM FINANCIAL STABILITY AND GENERATIONAL WEALTH CREATION.PUBLIC POLICY ENGAGEMENT ON HOUSING JUSTICENEDA COLLABORATES WITH MEMBERS AND COALITION PARTNERS TO ADVANCE EQUITABLE HOUSING AND FINANCIAL POLICIES AT THE LOCAL, STATE, AND NATIONAL LEVELS. DURING THE REPORTING PERIOD, NEDA PARTNERED WITH LOCAL COALITIONS TO SUPPORT INCLUSIVE HOUSING PRESERVATION AND DEVELOPMENT POLICIES THAT INCREASE THE SUPPLY OF AFFORDABLE, ENTRY-LEVEL HOMES FOR LOW- AND MODERATE-INCOME HOUSEHOLDS.COMMUNITY ENGAGEMENT AND OUTREACHIN FY24-25, NEDA ENGAGED MORE THAN 700 INDIVIDUALS THROUGH IN-PERSON AND VIRTUAL OUTREACH, DEDICATING OVER 115 HOURS TO COMMUNITY EDUCATION, PREPARATION, AND TRAVEL. OUTREACH ACTIVITIES INCLUDED COMMUNITY RESOURCE FAIRS, PARTNERSHIPS WITH FINANCIAL INSTITUTIONS AND REALTORS, MEDIA APPEARANCES, AND ENGAGEMENT WITH COMMUNITY ORGANIZATIONS AND ELECTED OFFICIALS.HIGHLIGHTS INCLUDE: COMMUNITY RESOURCE FAIRS AND EVENTS: REACHED OVER 375 INDIVIDUALS AT EVENTS SUCH AS BACK-TO-SCHOOL RESOURCE FAIR, RISEN CHRIST RESOURCE FAIR, FIESTA COMUNITARIA Y DE BIENESTAR, AND OTHERS. MEDIA ENGAGEMENT: PARTICIPATION IN RADIO SHOWS AND PODCASTS TO PROVIDE EDUCATION ON HOMESTRETCH AND CREDIT COUNSELING. STAKEHOLDER COLLABORATION: ENGAGEMENT WITH ELECTED OFFICIALS, CONSULAR REPRESENTATIVES, AND COMMUNITY BANKING PARTNERS TO STRENGTHEN PARTNERSHIPS AND EXPAND ACCESS TO FAIR HOUSING RESOURCES. TARGETED EDUCATION: OUTREACH ADDRESSED PREDATORY LENDING, DISCRIMINATION, AND TENANT AND HOMEOWNER RIGHTS, EMPOWERING PARTICIPANTS TO PROTECT HOUSING AND FINANCIAL STABILITY.NEDA ALSO STRENGTHENED PARTNERSHIPS WITH LUTHERAN SOCIAL SERVICE OF MINNESOTA AND ESPERANZA UNITED TO PROVIDE TRAUMA-INFORMED FINANCIAL AND HOUSING SUPPORT AND CONTINUED ITS "KNOW YOUR RIGHTS" MEDIA CAMPAIGN FOCUSED ON PROTECTIONS FOR IMMIGRANTS AND FAMILIES OF COLOR.COMMUNITY EVENTS AND SUPPORT NETWORKSNEDA PARTNERED WITH RAICES SAGRADAS COMMUNITY MENTAL HEALTH TO HOST A DIA DE LOS MUERTOS CELEBRATION SERVING OVER 75 COMMUNITY MEMBERS AND SUPPORTED LEADERSHIP AND FINANCIAL LITERACY PROGRAMMING WITH NEIGHBORHOOD HOUSE AND CONSULMEX SAINT PAUL. THESE EFFORTS EMPHASIZED COMMUNITY CONNECTION, CULTURAL AFFIRMATION, AND COLLECTIVE EMPOWERMENT.AWARDS AND RECOGNITIONIN 2025, NEDA RECEIVED THE FOLLOWING HONORS:1. MISSION ANTI-RACISM AWARD, MINNESOTA COUNCIL OF NONPROFITS2. NONPROFIT OF THE YEAR, MINNESOTA LATINO CHAMBER OF COMMERCETHESE RECOGNITIONS REFLECT THE EFFECTIVENESS OF NEDA'S PROGRAMS, THE DEDICATION OF ITS STAFF, AND THE ORGANIZATION'S NEARLY 40-YEAR COMMITMENT TO ADVANCING HOUSING STABILITY, FINANCIAL EMPOWERMENT, AND EQUITY FOR FAMILIES OF COLOR.

  Expenses $862,205 · Grants $65,000 · Revenue $18,976

• REAL ESTATE DEVELOPMENT AND HOUSING PRESERVATIONCREATING STABILITY. PRESERVING AFFORDABILITY. INVESTING IN COMMUNITY.NEDA ADVANCES EQUITABLE DEVELOPMENT BY CONSTRUCTING, REHABILITATING, AND MANAGING AFFORDABLE HOUSING FOR FAMILIES AND SENIORS. SINCE 1990, NEDA HAS DEVELOPED OR PRESERVED 200+ AFFORDABLE HOMES, LEVERAGING $55 MILLION IN PUBLIC FUNDING.CURRENT PORTFOLIO HIGHLIGHTS:* VILLA DEL SOL (40 UNITS): DEEPLY AFFORDABLE FAMILY HOUSING IN A CULTURAL CORRIDOR.* BLUFF HOMES (73 UNITS): SCATTERED-SITE TOWNHOMES FOR WOKRING FAMILIES. * STRYKER SENIOR HOUSING (57 UNITS): AFFORDABLE SENIOR HOUSING WITH 75% OF UNITS BELOW 30% AMI.* THE TERRACES (35 UNITS): TWO DEVELOPMENTS PROVIDING PERMANENT HOUSING FOR FAMILIES UNDER 50% AMI.* WABASHA CENTER: NEDA'S HEADQUARTERS AND A CULTURALLY ROOTED EARLY LEARNING CENTER SERVING 75+ SOMALI FAMILIES.STRYKER SENIOR HOUSING ACHIEVED 90% OCCUPANCY DURING THE SUMMER OF 2025 WHICH WAS CELEBRATED WITH A RE-OPENING CEREMONY.

  Expenses $1,752,917 · Revenue $859,368

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

• JOANNETTE CINTRON

  PRESIDENT

  Total calculated

  $0

  Hours/week

  1

• HEIDI WELCH

  VICE PRESIDENT

  Total calculated

  $0

  Hours/week

  1

• HOKAN MILLER

  TREASURER/SECRETARY

  Total calculated

  $0

  Hours/week

  1

• SHELLIE ROWE

  BOARD MEMBER

  Total calculated

  $0

  Hours/week

  1

• PEDRO MALDONADO

  BOARD MEMBER

  Total calculated

  $0

  Hours/week

  1

• KAREN A REID

  EXECUTIVE DIRECTOR

  Total calculated

  $47,499

  From this org

  $47,429

  From related orgs

  $0

  Other

  $70

  Hours/week

  40

• MARIA STEFFEL

  EXECUTIVE DIRECTOR

  Total calculated

  $71,695

  From this org

  $55,000

  From related orgs

  $0

  Other

  $16,695

  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.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Provenance

Return type

form_990

Tax year

2024

Filed

13 January 2026

IRS schema version

2024v5.5

Source object

202600199349300935

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