Neighborhood Development Alliance Inc

What it reported doing in 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

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 91.1%; rating input score 91
• Fundraising efficiency: $36.27 raised per $1 spent on fundraising; rating input score 72; 72nd percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd 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: 8 of 8 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: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -60.5%; rating input score 2; 2nd percentile among comparable filings
• Total-asset coverage ratio: 6.18; rating input score 87; 87th percentile among comparable filings
• Liabilities to assets ratio: 1.03; rating input score 5; 5th percentile among comparable filings
• Officer compensation ratio: 4.2%; rating input score 55; 55th percentile among comparable filings

Growth

• Program expense growth: 7.2% per year; rating input score 100; 53rd percentile among comparable filings
• Revenue growth: 4.2% per year; rating input score 100; 38th percentile among comparable filings
• Asset growth: 9.5% per year; rating input score 100; 57th percentile among comparable filings