NEIGHBORHOOD OF AFFORDABLE HOUSING INC

EIN: 042964630 501(c)(3) Housing & Shelter

EAST BOSTON, MA

Total Revenue
$5,744,187
Total Expenses
$6,902,407
Total Assets
$28,873,302
Net Assets
$-83,203
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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
MA
Principal Officer
PHILIP GIFFEE
Phone
6175675882
Tax Period
2024-01-01 to 2024-12-31

NEIGHBORHOOD OF AFFORDABLE HOUSING INC, founded in 1986, is a community nonprofit in the Housing & Shelter sector that reported $5.7M in total revenue in fiscal year 2024. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $6.9M exceeded revenue, resulting in a 20% operating deficit.

Mission

SEE PAGE 1, LINE 1.

Program Service Accomplishments

Program 1
Expenses: $1,995,658

NOAH RENTAL HOUSING COUNSELING/HOMELESSNESS PREVENTION PROGRAMMING: THIS FREE, BILINGUAL PROGRAM IS COMPRISED OF SEVERAL RELATED SERVICE LINES, ALL WORKING TO HELP NO-, LOW- OR MODERATE-INCOME...

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NOAH RENTAL HOUSING COUNSELING/HOMELESSNESS PREVENTION PROGRAMMING: THIS FREE, BILINGUAL PROGRAM IS COMPRISED OF SEVERAL RELATED SERVICE LINES, ALL WORKING TO HELP NO-, LOW- OR MODERATE-INCOME HOUSEHOLDS MOVE ALONG THE HOUSING SPECTRUM FROM BEING EITHER HOMELESS OR AT RISK OF HOMELESSNESS TO BEING ABLE TO OBTAIN SHELTER OR ELSE TO RETAIN OR OBTAIN APARTMENT HOMES. THESE SERVICE LINES INCLUDE: -EHAP (EMERGENCY HOUSING ASSISTANCE PROGRAM) - SERVES NEWLY HOMELESS DISASTER VICTIMS; PROVIDES SHORT-TERM EMERGENCY HOTEL STAYS IMMEDIATELY FOLLOWING ANY SUCH RED CROSS ASSISTANCE, AS WELL AS MOVE-IN GRANTS PAID TO THE NEW LANDLORD (DEPOSIT FOR FIRST/ OR LAST MONTH RENT UP TO $3,200); ALSO PROVIDES COUNSELING/CASE MANAGEMENT, AS NEEDED. THIS EHAP PROGRAM WAS FIRST ESTABLISHED IN 2020 AND BENEFITED 3,506 GRANT RECIPIENTS THUS FAR AND WILL CONTINUE INTO 2025.-FSNP (FAMILY SAFETY NET) - SERVES RECENTLY HOMELESS FAMILIES WITH MINOR CHILDREN; PROVIDES SHORT-TERM EMERGENCY HOTEL STAYS, REFERRALS, AND/OR COUNSELING/CASE MANAGEMENT ASSISTANCE IN TRANSITIONING TO SHELTER OR HOUSING-FAP (FINANCIAL ASSISTANCE) - SERVES HOMELESS OR THOSE AT RISK OF HOMELESSNESS; PROVIDES RENTAL FUNDING GRANTS PAID TO LANDLORDS TO PREVENT EVICTIONS 'UPSTREAM' (PREFERRED) OR FOR FIRST OR LAST AND DEPOSIT FOR NEW APARTMENTS UP TO $2,500-HOMELESSNESS PREVENTION - PROVIDES COUNSELING AND/OR CASE MANAGEMENT FOR HOUSEHOLDS AT RISK OF HOMELESSNESS SOON, BUT NOT IMMEDIATELY OR FOR THOSE WHO DO NOT MEET THE CRITERIA OF THE THREE SERVICE LINES ABOVE-COVID-19 RENT RELIEF - SERVES HOUSEHOLDS NEGATIVELY IMPACTED FINANCIALLY BY COVID-19; PROVIDES RENT PAYMENTS TO LANDLORDS TO KEEP HOUSEHOLDS IN THEIR APARTMENT HOMES THROUGH PAYING RENTAL ARREARS AND/OR FUTURE STIPENDS; ALSO PAYS LATE UTILITY BILLS UP TO $1,500 AND/OR MOVE-IN COSTS.

Program 2
Expenses: $2,242,894 Revenue: $1,690,527

RENTAL: PROVIDES AFFORDABLE HOUSING TO PEOPLE IN NEED.

Program 3
Expenses: $413,772 Revenue: $423,808

REAL ESTATE AND ECONOMIC DEVELOPMENT: DEVELOP AFFORDABLE HOUSING OWNERSHIP AND RENTAL UNITS FOR LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,314,055
Program Service Revenue $2,386,006
Investment Income $0
Other Revenue $44,126
TOTAL REVENUE $5,744,187

Expense Breakdown

Grants Paid $20,623
Salaries & Benefits $2,211,179
Fundraising Expenses $220,224
Program Expenses $6,320,886
Other Expenses $4,670,605
TOTAL EXPENSES $6,902,407

Year-over-Year Comparison

2024 2023 Change
Revenue $5,744,187 $10,832,448 -0.5%
Expenses $6,902,407 $11,789,454 -0.4%
Net Income $-1,158,220 $-957,006 +0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
25
Volunteers
65

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$340,101
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID BRYANT PRESIDENT 0.25
Officer Director
$0 $0 $0
CELSA MORENO-BARKER VICE PRESIDENT 0.25
Officer Director
$0 $0 $0
MEGAN REAGON TREASURER 0.25
Officer Director
$0 $0 $0
ROBERT SCHMIDT SECRETARY/ CLERK 0.25
Officer Director
$0 $0 $0
ANA ALONZO BOARD MEMBER 0.25
Director
$0 $0 $0
MONICA BARRERA BOARD MEMBER 0.25
Director
$0 $0 $0
NINA GAETA COLETTA BOARD MEMBER 0.25
Director
$0 $0 $0
CATHERINE MCCANDLESS BOARD MEMBER 0.25
Director
$0 $0 $0
DAVID VILLANEUVA BOARD MEMBER 0.25
Director
$0 $0 $0
PHILIP GIFFEE EXECUTIVE DIRECTOR 37.50
Officer
$171,666 $35,094 $206,760
VINNY QUALTIERI DIRECTOR OF FINANCE & ADMIN 37.50
Officer
$121,870 $11,471 $133,341
LINDA MILLER-FOSTER DIR. OF ADMIN. AND FUNDRAISING 37.50
Highest
$117,667 $13,157 $130,824
DIANA FRANCO DIRECTOR HOMEOWNERSHIP/BHA PROGRAM 37.50
Highest
$100,561 $22,750 $123,311
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $5,744,187 $6,902,407 $28,873,302 $-1,158,220
2023 $10,832,448 $11,789,454 $28,368,872 $-957,006
2022 $12,033,163 $12,482,189 $30,349,650 $-449,026
2021 $13,300,567 $13,295,450 $27,971,204 $5,117
2020 $7,847,355 $7,700,568 $26,319,320 $146,787
2019 $4,524,883 $5,179,420 $23,988,202 $-654,537
2018 $4,337,698 $4,667,359 $21,241,946 $-329,661
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