Aberdeen Neighborhood Housing Services DBA NeighborWorks of Grays Harbor County

What it reported doing in 2024

For housing rehabilitation and homeownership opportunities, NeighborWorks maintains revolving loan funds as well as lending partnerships offering housing rehabilitation and homeownership opportunities that are Affordable, Flexible and Sustainable. Multiple revolving loan funds in the Loan Program for purchase and/or rehabilitating properties provide funding for loans to low, moderate and middle income (LMMI) people within Grays Harbor County. The lower rates and flexible loan conditions and terms provide borrowers affordable housing loans while keeping manageable debt ratios. NeighborWorks currently has 63 first mortgage loans with a total investment of $4,657,446 with no delinquencies. Historically, NeighborWorks can assist with down payment assistance (DPA) when funding is available and to that end, the organization was recently awarded a $500,000 grant for DPA loans.Our Loan Specialist is also a certified loan packager for USDA Rural Development loans (502 and 504 loans) working with Rural Community Assistance Corp (RCAC) as our Intermediary. The expectation is that demand for these loans will increase as the USDA receives federal funding in the FY 26 budget.Our Housing Counseling Program is helping clients prepare for a home purchase by addressing issues with Income, savings and credit. We assist people who have difficult credit histories and high debt ratios by using an intensive individualized approach. In FY24-25, NeighborWorks assisted 8 households with pre-purchase analysis as well as budget-money management and home repair counseling. NeighborWorks is dedicated to promoting homebuyer education through eHome America. This online education meets National Industry Standards for Homeownership Education and is offered statewide through collaboration with these other non-profit housing counseling agencies: Community Frameworks and HomeSight. As of June 30, 2025, 103 clients have completed the eHome class through our website link. During 2025 we continue to offer our Budgeting and Personal Money Management classes to people referred to us by the Quinault Tribal Court system. This is done at the request of the Tribal Court at the Tribal Court building in Taholah, WA. For safe, sanitary and affordable rental housing opportunities, NeighborWorks owns and manages 33 rental houses and duplexes, of which 16 units are Section 8 project-based subsidized units. Two (2) units are leased to another nonprofit agency who uses it as a shelter for homeless or transitional families with children; 15 units are rented at market rate with Section 8 vouchers accepted. Additionally, NeighborWorks acts as Management Agent for a HUD 811 project which provides homes to eight (8) developmentally disabled tenants.

Financial Efficiency

• Mission deployment rate: 75%; rating input score 75
• Program expense ratio: 93.2%; rating input score 93
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 18.9%; rating input score 75; 75th percentile among comparable filings
• Total-asset coverage ratio: 8.98; rating input score 91; 91st percentile among comparable filings
• Liabilities to assets ratio: 0.06; rating input score 49; 49th percentile among comparable filings
• Officer compensation ratio: 17.7%; rating input score 18; 18th percentile among comparable filings

Growth

• Program expense growth: 1.9% per year; rating input score 100; 26th percentile among comparable filings
• Revenue growth: -2.5% per year; rating input score 0; 8th percentile among comparable filings
• Asset growth: 2.3% per year; rating input score 100; 26th percentile among comparable filings