Neighborhood Reinvestment Corporation

Nonprofit profile at a glance

EIN
521148078
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2027604000
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$179,198,962
Expenses
$182,498,924
Assets
$67,919,697
Liabilities
$44,006,262

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • MARIETTA E RODRIGUEZ (PRESIDENT & CEO)

Highest reported compensation

  • MARIETTA E RODRIGUEZ (PRESIDENT & CEO): $279,460 total reported compensation
  • SUSAN M IFILL (EVP & COO): $275,836 total reported compensation
  • KEMBA M ESMOND (EVP & GENERAL COUNSEL): $267,603 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The neighborhood reinvestment corporation (d.b.a neighborworks america) is a congressionally chartered public non-profit corporation that creates opportunities for people to live in affordable homes, improve their lives, and strengthen their communities.

What it reported doing in 2024

Preserving affordable housing: organizations construct new housing, repair and renovate existing housing, promote homeownership, and further mixed-income affordable housing opportunities. The corporation also supports the organizations' hazard abatement, energy conservation, post purchase counseling, and foreclosure prevention activities. Equity capital, in the form of highly flexible corporation grants to local organizations' revolving loan funds, is also vitally important. Revolving loan funds are used to support home repairs, down-payment and closing-cost assistance, energy conservation repairs, commercial and small business loans, predevelopment costs, acquisition of problem properties, and a host of other initiatives.

Operating model

Revenue model
Grant-funded. 92% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 41% for direct work, and 59% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 76
  • Accountability: 100
  • Sustainability: 23
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.9%; rating input score 94
  • Program expense ratio: 92.2%; rating input score 92
  • Fundraising efficiency: $98.45 raised per $1 spent on fundraising; rating input score 84; 84th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 21st percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.3%; rating input score 99; 39th 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; 77th 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: -1.8%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 0.37; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0.65; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -1.3% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -2.8% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -3.2% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 93.9% of revenue deployed · 92.2% of spending went to programs
  • Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 6 filed program accomplishments · $168.2M in reported program spending
  • Leadership: top reported pay $279K · 18 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.2M reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 297 filed money-flow records
  • Related organizations: 284 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 19/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.