NEIGHBORHOOD FINANCE CORPORATION Charity Report

Public IRS 990 nonprofit record

NEIGHBORHOOD FINANCE CORPORATION

EIN 42-1353472 · Housing & Shelter (L22Z)

What they do

Neighborhood Finance Corporations (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, NFCs Relevance Has Only Increased. NFC Continues to Launch New Programs to Address Housing Affordability Challenges. The Additional Programs Include, The Neighborhood Reinvest and Journey to Homeownership Down Payment Assistance Program and Energy Advantage to Decrease Energy Costs for Homebuyers and Homeowners.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $82.70 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders20 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

52.00%of revenue went to mission work82.7% of expenses · Program services

$62.86spent for every $100 of revenueRevenue covered expenses this year.

10.86%of revenue went to management and office costs17.3% of expenses

$15.89in assets for every $1 spent this yearSome assets cannot be spent right away.

72.2%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $213,485 for STEPHANIE MURPHY (EXECUTIVE DIRECTOR). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$11,435,858

Mission workProgram services$5,946,83752.00% of revenue82.7% of expenses

ManagementOffice and general costs$1,242,09910.86% of revenue17.3% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$4,246,92237.14% of revenueShown in gray on the chart

Total expenses$7,188,93662.86% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 82.7% mission · 17.3% management · 0.0% fundraisingTotal expenses: 62.86% of revenue

2023Expense mix: 84.9% mission · 15.1% management · 0.0% fundraisingTotal expenses: 62.36% of revenue

2022Expense mix: 84.7% mission · 15.3% management · 0.0% fundraisingTotal expenses: 97.67% of revenue

2021Expense mix: 84.9% mission · 15.1% management · 0.0% fundraisingTotal expenses: 71.65% of revenue

2020Expense mix: 85.2% mission · 14.8% management · 0.0% fundraisingTotal expenses: 98.81% of revenue

2019Expense mix: 84.8% mission · 15.2% management · 0.0% fundraisingTotal expenses: 52.80% of revenue

2018Expense mix: 82.0% mission · 18.0% management · 0.0% fundraisingTotal expenses: 38.82% of revenue

2017Expense mix: 83.4% mission · 16.6% management · 0.0% fundraisingTotal expenses: 56.16% of revenue

Money in and money out

Revenue$11,435,858

Expenses$7,188,936

Annual surplus $4,246,922 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$5,946,837 · 82.7% of expenses

Management and office costs$1,242,099 · 17.3% of expenses

See all reported dollar amounts

Revenue$11,435,858

Expenses$7,188,936

Assets$114,231,342

Income$11,435,858

Contributions$8,257,875

Mission work (program services)$5,946,837

Management and general$1,242,099

Executive compensation (total)$308,632

Accounting fees$71,878

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

STEPHANIE MURPHYEXECUTIVE DIRECTOR · 40 hrs/week $213,485Base $184,097 · Other $29,388

MARK ALBERICOVP FINANCE & ADMIN/TREASURER · 40 hrs/week $175,439Base $142,811 · Other $32,628

TERRY GEARHARTVICE PRESIDENT LENDING · 40 hrs/week $135,236Base $108,600 · Other $26,636

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (20)

STEPHANIE MURPHYEXECUTIVE DIRECTOR

MARK ALBERICOVP FINANCE & ADMIN/TREASURER

TERRY GEARHARTVICE PRESIDENT LENDING

MARGARET WRIGHT FROM 032624NEIGHBORHOOD REPRESENTATIV

WILL THOMSON FROM 052824TWO RIVERS BANK

TRAVIS SIMPSON - PRESIDENTNORTHWEST BANK

STEVE VAN OORTPOLK COUNTY BOARD OF SUPER

SCOTT OVERLAND - SECRETARYCITY OF CEDAR RAPIDS

PATRICK REDDINGFIRST INTERSTATE BANK

MARSHA KEPHART - PAST PRESIDENTIOWA STATE BANK

ALMARDI ABDALLANEIGHBORHOOD REPRESENTATIV

LINDSEY AZIZEH FROM 022024NEIGHBORHOOD REPRESENTATIV

LINDA WESTERGAARD - VICEPRESIDENT CITY OF DES MOINES

JOSH MOORECEDAR RAPIDS BANK & TRUST

DEDRIC DOOLINNEIGHBORHOOD REPRESENTATIV

DAVE WILLIAMSONPOLK COUNTY PUBLIC WORKS

DANIELLE RODRIQUEZ UNTIL 080124NEIGHBORHOOD REPRESENTATIV

COLE MCCLELLANDBANKERS TRUST

CHRIS JOHANSENCITY OF DES MOINES

BRENNER MYERS FROM 102224NEIGHBORHOOD REPRESENTATIV

About this charity

Recognized since: January 1990
Location: 4908 FRANKLIN AVE, DES MOINES, IA 50310-1901
County: Polk
In care of: Stephanie Murphy
Primary officer: Stephanie Murphy, Executive Director

How to reach them

WebsiteVisit the charity’s website EmailSMurphy@neighborhoodfinance.org Phone(515) 246-0010

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: EIDE BAILLY LLP
NTEE classification: Housing & Shelter (L22Z)
IRS tax category: Business Associations