NEF COMMUNITY INVESTMENTS INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1998

Legal Domicile

Principal Officer

MATTHEW REILEIN

Phone

3123600400

Tax Period

2024-01-01 to 2024-12-31

NEF COMMUNITY INVESTMENTS INC, founded in 1998, is a mid-sized nonprofit in the Housing & Shelter sector that reported $80.4M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $70.4M left a modest 13% surplus.

Mission

NEF COMMUNITY INVESTMENTS, INC. ASSISTS NATIONAL EQUITY FUND, INC. IN THE DEVELOPMENT AND PRESERVATION OF HIGH-QUALITY LOW-INCOME RENTAL HOUSING BY ESTABLISHING AND MANAGING INVESTMENT FUNDS THAT ATTRACT CAPITAL FOR INVESTMENT IN HOUSING PROJECTS QUALIFYING FOR LOW-INCOME HOUSING TAX CREDITS AND CONDUCTING RELATED ACTIVITIES.

Program Service Accomplishments

Program 1

Expenses: $57,292,669 Revenue: $80,208,330

NEF COMMUNITY INVESTMENTS, INC. SERVES AS THE GENERAL PARTNER OR MANAGING MEMBER AND SERVES AS THE SOLE MEMBER OF LIMITED LIABILITY COMPANIES WHICH SERVE AS THE GENERAL PARTNER AND MANAGING MEMBER OF INVESTOR LIMITED PARTNERSHIPS AND LIMITED LIABILITY COMPANIES THAT (1) ACQUIRE LIMITED PARTNER OR NON-MANAGING MEMBER INTERESTS IN PROJECT PARTNERSHIPS OR PROJECT LIMITED LIABILITY COMPANIES THAT ACQUIRE, OWN, CONSTRUCT, REHABILITATE AND OPERATE LOW-INCOME HOUSING PROJECTS AND (2) PROVIDE FINANCING FOR THE DEVELOPMENT AND PRESERVATION OF HOUSING AFFORDABLE TO LOW- AND MODERATE-INCOME INDIVIDUALS AND FAMILIES. IN ADDITION, NEF COMMUNITY INVESTMENTS, INC. PROVIDES AND FACILITATES ASSET MANAGEMENT SERVICES TO SUPPORT SUCH INVESTMENTS IN LOW-INCOME HOUSING PROJECTS.

Program 2

Revenue: $83,525

NEF COMMUNITY INVESTMENTS, INC. SERVES AS THE SOLE MEMBER OF NEF PERMANENT LENDING LLC WHICH SERVES AS A MEMBER OF CPC MORTGAGE COMPANY LLC, A JOINT VENTURE WITH AFFILIATES OF THE COMMUNITY...

NEF COMMUNITY INVESTMENTS, INC. SERVES AS THE SOLE MEMBER OF NEF PERMANENT LENDING LLC WHICH SERVES AS A MEMBER OF CPC MORTGAGE COMPANY LLC, A JOINT VENTURE WITH AFFILIATES OF THE COMMUNITY PRESERVATION CORPORATION, A NEW YORK NOT-FOR-PROFIT CORPORATION, AND CINNAIRE CORPORATION, A MICHIGAN NOT-FOR-PROFIT CORPORATION, PROVIDING GSE AND AGENCY FINANCING FOR THE DEVELOPMENT OF HOUSING AFFORDABLE TO LOW- AND MODERATE-INCOME INDIVIDUALS AND FAMILIES IN ORDER TO PRESERVE AND REHABILITATE NEIGHBORHOODS EXPERIENCING DETERIORATION AND DISINVESTMENT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $80,015,522

Investment Income $431,739

Other Revenue $0

TOTAL REVENUE $80,447,261

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $57,292,669

Other Expenses $70,363,078

TOTAL EXPENSES $70,363,078

Year-over-Year Comparison

	2024	2023	Change
Revenue	$80,447,261	$72,605,707	+0.1%
Expenses	$70,363,078	$64,910,205	+0.1%
Net Income	$10,084,183	$7,695,502	+0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

N/A

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

$6,488,543

Total Directors

$4,089,538

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JUDY SCHNEIDER	SVP & ASST SEC. (& OUTGOING DIRCTOR)	18.00	Officer Director	$0	$142,493	$832,106
MARK SIRANOVIC	SVP (AND DIRECTOR)	18.00	Officer Director	$0	$141,542	$818,451
MATTHEW REILEIN	PRESIDENT & CEO (& DIRECTOR)	18.00	Officer Director	$0	$380,064	$1,557,831
REENA BRAMBLETT	SVP (AND DIRECTOR)	18.00	Officer Director	$0	$124,822	$881,150
ALEX DENJA	SVP, COO, CFO	18.00	Officer	$0	$198,773	$1,021,086
MICHAEL ROGERS	SVP & SECRETARY	18.00	Officer	$0	$62,191	$601,947
PETER HARRISON	SVP	18.00	Officer	$0	$150,374	$775,972
KEVIN D BOES	FORMER SVP	0.00		$0	$237,893	$645,539

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	$80,447,261	$70,363,078	$65,095,185	$10,084,183
2023	$72,605,707	$64,910,205	$60,693,429	$7,695,502
2022	$69,815,195	$44,836,410	$59,322,474	$24,978,785
2021	$69,249,511	$40,656,669	$49,835,744	$28,592,842
2020	$54,814,471	$42,505,217	$35,929,405	$12,309,254
2019	$50,719,100	$31,802,966	$37,105,717	$18,916,134
2018	$42,728,716	$35,201,033	$29,468,298	$7,527,683