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Nonprofiteer
← NEIGHBORHOOD HOUSING FINANCE CORPORATION

Form 990 for tax year 2024

Filed by NEIGHBORHOOD HOUSING FINANCE CORPORATION.

Totals

Total revenue
$791,833
Total expenses
$583,571
Contributions and grants received
$368,392
Grants paid
$0
Program service revenue
$351,488
Investment income
$71,953
Other revenue
$0
Total assets, end of year
$15,078,285
Total liabilities, end of year
$12,431,455
Net assets or fund balances, end of year
$2,646,830
Program services expenses (Part IX)
$583,571
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$583,571

Program services were 100.0% 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.

  • 1f · All other contributions, gifts and grants

    $368,392

  • 2a · Program service revenue: LOAN ADMINISTRATIVE FE

    total $351,488 · related or exempt $351,488

  • 3 · Investment income

    total $71,953 · excluded $71,953

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $350,459 · program services $350,459

  • 11b · Fees: legal

    total $6,650 · program services $6,650

  • 11c · Fees: accounting

    total $3,250 · program services $3,250

  • 13 · Office expenses

    total $161,218 · program services $161,218

  • 14 · Information technology

    total $30,885 · program services $30,885

  • 16 · Occupancy

    total $27,790 · program services $27,790

  • 17 · Travel

    total $220 · program services $220

  • 19 · Conferences, conventions and meetings

    total $665 · program services $665

  • 23 · Insurance

    total $2,434 · program services $2,434

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,006,064 · end of year $2,643,723

  • 4 · Accounts receivable

    beginning of year $19,949 · end of year $7,104

  • 7 · Other notes and loans receivable

    beginning of year $11,337,966 · end of year $12,427,458

  • 17 · Accounts payable and accrued expenses

    beginning of year $380,723 · end of year $129,504

  • 19 · Deferred revenue

    beginning of year $438,731 · end of year $484,231

  • 23 · Secured mortgages and notes payable

    beginning of year $10,105,957 · end of year $11,817,720

  • 27 · Net assets without donor restrictions

    beginning of year $2,438,568 · end of year $2,646,830

Mission and programs · 2024

Mission

TO HELP LOW TO MODERATE INCOME INDIVIDUALS AND SMALL BUSINESS OWNERS THROUGHOUT THE SOUTHERN MASS AREA OF GREATER BOSTON AND COMMUNITIES WITHIN THE NORFOLK, BRISTOL AND PLYMOUTH COUNTIES HAVE ACCESS TO SAFE AND AFFORDABLE PLACES TO LIVE AND WORK THROUGH OUR RESPONSIBLE LENDING PRODUCTS, SUCH AS AFFORDABLE HOUSING PREDEVELOPMENT LOANS, SMALL BUSINESS LOANS, FTHB ASSISTANCE, HOME MODIFICATION LOANS AND LEAD ABATEMENT LOANS.

  • TO SERVE AS A NON-PROFIT SUPPORTING ORGANIZATION FOR NEIGHBORHOOD HOUSING SERVICES BY FACILITATING THE FINANCING FOR LOW AND MODERATE INCOME PERSONS AND OTHER DESERVING RESIDENTS IN THE SOUTH SHORE AREA OF MASSACHUSETTS.

    Expenses $583,571 · Revenue $351,488

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

Listed in Part VII

  • David Kilnapp

    PRESIDENT/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Beverly Somerville

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Carol Delorey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dominga Maldonado

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John Lanham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mike Healey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dawn Young

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Britany Freitas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Darlene Regan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert Corley

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $350,372
    From this org
    $0
    From related orgs
    $306,387
    Other
    $43,985
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $306,387 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $15,281 related
    Nontaxable benefits
    $0 + $28,704 related
    Filer's total
    $0 + $350,372 related

  • Christine MacDonald

    CHIEF FINANCIAL OFFICER

    Total calculated
    $223,907
    From this org
    $0
    From related orgs
    $205,848
    Other
    $18,059
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,848 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,048 related
    Nontaxable benefits
    $0 + $12,011 related
    Filer's total
    $0 + $223,907 related

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
28 January 2026
IRS schema version
2024v5.2
Source object
202600289349300225

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