Better Business Bureau Report for
Neighborhood Housing Services of Chicago

Better Business Bureau Report issued December 2016
Better Business Bureau Report expires December 2018


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Neighborhood Housing Services of Chicago
Address: 1279 N Milwaukee Ave
  Chicago, IL 60622
Phone: 773-329-4010
Web Address: www.nhschicago.org
Also known as:NHS
NHS of Chicago
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Better Business Bureau Comments

Year, State Incorporated: 1975, Illinois
Affiliates: None
Stated Purpose: To create opportunities for people to live in affordable homes, improve their lives, and strengthen their neighborhoods.

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Evaluation Conclusions

              

Neighborhood Housing Services of Chicago does not meet the following 2 Standards for Charity Accountability.

Standard 14: Budget - Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.

Neighborhood Housing Services of Chicago does not meet this Standard because, when the organization provided budget information, it indicated that the budget:

  • Was not produced for the current fiscal year.

Standard 16: Annual Report - Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.

Neighborhood Housing Services of Chicago does not meet this standard because the most recent annual report did not include:

  • A roster of the board of directors
  • Total income.
  • Total program expenses.
  • Total expenses for each program in the same categories that appear in the organization’s financial statements.
  • Total fund raising expenses.
  • Total administrative expenses.
  • Total end of year net assets.
In addition, the BBB of Chicago & Northern Illinois requested but did not receive complete information on the organization’s governance and oversight, effectiveness measures, solicitation materials, donor privacy, and fundraising disclosures and is unable to verify the organization's compliance with the following 9Standards for Charity Accountability: 1, 2, 4, 5, 6, 7, 15, 17, and 19.
Neighborhood Housing Services of Chicago meets the remaining 8 Standards for Charity Accountability. Please note that as of the date of this report 1 out of the 20Standards for Charity Accountability are not currently effective. As a result, this standard has not been applied to this evaluation.
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Programs

              

Educating and preparing new homeowners for success Neighborhood Housing Services of Chicago does the following: -Lends money to help people buy, fix and keep their homes -Sustains home ownership through foreclosure prevention services -Preserves, rehabs, and invests in housing -Builds powerful and enduring community partnerships

For the fiscal year ended March 31, 2015, Neighborhood Housing Services of Chicago's program expenses were:

  
Other program expenses 4,355,240
Community Consultation and Assistance 3,485,591
Community Lending Programs 3,131,002
Neighborhood Redevlopment 630,301
Total Program Expenses: $11,602,134
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Governance

              

Chief Executive :
Compensation*: 

Chair of the Board:
Chair's Profession / Business Affiliation:

Board Size:

Paid Staff Size:

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:


Fund raising costs were 13% of related contributions. (Related contributions, which totaled $5,193,317, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Neighborhood Housing Services of Chicago's audited financial statements for the fiscal year ended March 31, 2015.

Source of Funds  
Contractual Services 5,193,317
Rent and Other 2,235,145
Premium Income and Servicing Fees 600,317
Interest on Loans and Receivables 468,589
Property Management and Development Fees 236,872
Loan Processing Fees 206,468
Miscellaneous 63,320
Investment Interest 3,116
Total Income $9,007,144


chart



Uses of Funds as a % of Total Expenses

Programs: 76%  Fund Raising: 4%  Administrative: 20% 

Total income $9,007,144
Program expenses $11,602,134
Fund raising expenses 650,388
Administrative expenses 3,103,074
Total expenses $15,355,596
Expenses in Excess of Income (6,348,452)
Beginning net assets 9,790,433
Ending net assets 7,115,230
Total liabilities 31,893,304
Total assets $39,008,534


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

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