NEIGHBORHOOD FINANCE CORPORATION

DES MOINES, IA | Polk County
Revitalization/Stabilization

Overview

NEIGHBORHOOD FINANCE CORPORATION
42-1353472
1912 6TH AVE
DES MOINES, IA 50314
Polk County
(515) 246-0010

Mission Statement info

NEIGHBORHOOD FINANCE CORPORATION PROVIDES UNIQUE LENDING PROGRAMS AND OTHER SERVICES TO FACILITATE TARGETED NEIGHBORHOOD REVITALIZATION IN POLK COUNTY AND CEDAR RAPIDS, IOWA THROUGH PARTNERSHIPS WITH RESIDENTS, GOVERNMENTS, COMMUNITY BASED ORGANIZATIONS AND THE BUSINESS COMMUNITY.

Founded info
1990
Total Employees info
31
Total Volunteers info
43
CRA Category info
  • Revitalization/Stabilization
Nonprofit location info
  • LMI Census Tract
  • Majority Minority Census Tract
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
Nonprofit Classification (NTEE Code) info
L22

L - Housing, Shelter

Senior Citizens Housing & Retirement Communities

Residential options exclusively for older adults who want to have a simpler, maintenance-free lifestyle and enjoy the company of peers with common interests, or who require a moderate amount of support in the activities of daily living to maintain independent living.

IRS Activity Codes info
381
Low and moderate income housing
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
623312
Assisted Living Facilities for the Elderly

CRA Alignment

CRA Category info
Revitalization/Stabilization
Community and economic development in distressed, underserved or disadvantaged areas.
CRA Certification info
Has not applied.
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
9/17/2013
Native American CDFI info
N
Financial Institution Type info
Loan Fund
Community Development Financial Institution Award Recipient info
Most Recent CDFI Award info
2018
$700,000
CDFI Financial Assistance
2015
$2,000,000
CDFI Financial Assistance
2014
$2,000,000
CDFI Financial Assistance
New Market Tax Credit Recipient info
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$12.6M
Revenue
$12.6M
Assets
$85.8M
Exempt Ruling Date info
1990-05
Deductibility Status info
Deductible
Tax Filing Year info
2018
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
States Where Tax Return is Filed info
Not reported
Basis for Foundation/Public Charity Status info
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi)
IRS Reported Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Nonprofit Location

Physical Address info
1912 6TH AVE
DES MOINES, IA 50314
Polk County
FIPS Geocoded Address info
19780
MSA/CBSA info
19
State info
153
County info
0050.00
Tract info
Low
Income Level info
Core-Based Statistical Area info
Des Moines-West Des Moines, IA
Combined Statistical Area info
Des Moines-Ames-West Des Moines, IA
Metropolitan Division info
Not located in an MD.
Area Type info
Metropolitan Statistical Area
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 82.36%
Designated Distressed Census Tract info
Underserved Census Tract info

Market Data

Census Tract County
0050.00 Polk County
Population
Total Population 3,623 479,612
Total Households 1,088 187,798
Income
Median Family Income (Census*) $36,330 $67,637
Median Family Income (2019 FFIEC) $82,000 N/A
Tract Income Percentage 48.02% N/A
Below Poverty Level 38.2% 10.4%
Unemployment Level 22.2% 4.2%
Housing
Total Housing Units 1,274 200,593
Total Owner-Occupied Units 41.4% 67.1%
Total Renter-Occupied Units 44.0% 32.9%
Total Vacant Units 14.6% 7.3%
* Census tract income based on 2019 Census estimated data; County income based on 2019 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

15
Total Voting Members
in Governing Body
info
13
Independent Voting Members
in Governing Body
info
Tax Filing Signatory info
Stephanie Preusch
Executive Director
(515) 246-0010
Principal Officer info
Stephanie Preusch
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Wistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed

"NA" in this section indicates that the information was not available in the nonprofit's most recent IRS tax filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit www.learncra.com.