Neighborhood Finance Corporation (EIN 421353472) - Form 990 Financial Analysis & Trantor Score

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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

1990

Legal Domicile

Principal Officer

Stephanie Murphy

Phone

5152460010

Tax Period

2023-01-01 to 2023-12-31

Neighborhood Finance Corporation, founded in 1990, is a mid-sized nonprofit in the Housing & Shelter sector that reported $11.6M in total revenue in fiscal year 2023. Revenue surged 70% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.4M, a strong 38% operating margin.

Mission

Neighborhood Finance Corporation's (NFC) primary mission is neighborhood revitalization, achieved through sustainable homeownership and renovation lending funded by local financial institutions, paired with forgivable loans funded by local governments. As economic and environmental challenges arise, NFC's relevance has only increased. NFC continues to launch new programs to address housing affordability challenges. The additional programs include, the Neighborhood Reinvest down payment assistance program; education, outreach, and down payment assistance for African American homebuyers through Journey to Homeownership; and Energy Advantage to increase resilience and decrease energy costs for homebuyers and homeowners.

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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 (2023)

Revenue Breakdown

Contributions & Grants $8,060,077

Program Service Revenue $2,074,056

Investment Income $1,426,845

Other Revenue $0

TOTAL REVENUE $11,560,978

Expense Breakdown

Grants Paid $3,012,247

Salaries & Benefits $2,175,588

Fundraising Expenses $0

Program Expenses $6,119,387

Other Expenses $2,021,053

TOTAL EXPENSES $7,208,888

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,560,978	$6,795,518	+0.7%
Expenses	$7,208,888	$6,636,986	+0.1%
Net Income	$4,352,090	$158,532	+26.5%

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

Employees

Volunteers

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

$459,937

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Marsha Kephart - President	Iowa State Bank	1.00	Officer Director	$0	$0	$0
Travis Simpson - Vice President	Northwest Bank	1.00	Officer Director	$0	$0	$0
Linda Westergaard - Secretary	City of Des Moines	1.00	Officer Director	$0	$0	$0
Steve Van Oort - Past President	Polk County Board Of Supervisors	1.00	Officer Director	$0	$0	$0
Almardi Abdalla	Neighborhood Representative	0.50	Director	$0	$0	$0
Chris Johansen	City Of Des Moines	0.50	Director	$0	$0	$0
Cole McClelland From 102423	Bankers Trust	0.50	Director	$0	$0	$0
Danielle Rodriquez From 9123	Neighborhood Representative	0.50	Director	$0	$0	$0
Dave Williamson From 072723	Polk County Public Works	0.50	Director	$0	$0	$0
Deb Anderson Alternate	Polk County Board Of Supervisors	0.50	Director	$0	$0	$0
Dedric Doolin From 090123	Neighborhood Representative	0.50	Director	$0	$0	$0
Josh Moore From 090123	Cedar Rapids Bank & Trust	0.50	Director	$0	$0	$0
Patrick Redding	First Interstate Bank	0.50	Director	$0	$0	$0
Scott Overland From 090123	City of Cedar Rapids	0.50	Director	$0	$0	$0
Theron Hobbs	Neighborhood Representative	0.50	Director	$0	$0	$0
Stephanie Murphy	Executive Director	40.00	Officer	$158,626	$31,291	$189,917
Mark Alberico	VP Finance & Admin/Treasurer	40.00	Officer	$123,442	$26,790	$150,232
Terry Gearhart	Vice President Lending	40.00	Officer	$95,427	$24,361	$119,788

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	No data	No data	No data	No data
2023	$11,560,978	$7,208,888	$101,198,135	$4,352,090
2022	$6,795,518	$6,636,986	$94,727,126	$158,532
2021	$8,973,423	$6,429,795	$90,667,439	$2,543,628
2020	$6,112,359	$6,039,750	$89,056,709	$72,609
2019	$10,692,251	$5,645,686	$90,561,749	$5,046,565
2018	$12,569,017	$4,879,632	$85,751,646	$7,689,385

Neighborhood Finance Corporation