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Neighborhood Housing Services of Waterbury Inc

EIN 06-1022915 · Waterbury, CT

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood72 out of 100GovernanceGood84 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

BUILDING STRONG NEIGHBORHOODS AND COMMUNITIES THROUGH AFFORDABLE AND COMPREHENSIVE HOUSING DEVELOPMENT, FINANCIAL EDUCATION, AND FURTHERING HOME AND COMMUNITY OWNERSHIP.

Income
$3.3 million
Spending
$3.6 million
Spent on programs
86%
Reserves
9.7 months of spending
Largest source of income
government grants, 41%
Employees
22

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 72 out of 100. Higher than 59% of charities in its peer group (housing, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 9.7 months of spending.

  • Debt

    20 of 20

    It owes 14% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 10% of income.

  • Income trend

    5 of 15

    Income fell 16% on the year before.

  • Spending floor

    15 of 15

    86% of spending went to programs and raising each dollar of donations cost 3 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 84 out of 100. Higher than 38% of charities in its peer group (housing, $1m to $10m).

  • Independent board

    25 of 25

    8 of 8 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Independent check of accounts

    0 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $215,847 spent. HOMEOWNERSHIP IS THE CORNERSTONE OF A STRONG COMMUNITY . THROUGH NHSW'S HOMEOWNERSHIP PROMOTION PROGRAMS, POTENTIAL HOMEBUYERS ARE PROVIDED WITH THE TOOLS NECESSARY TO SUCCEED AND MAKE THEIR DREAMS OF LIFELONG HOMEOWNERSHIP A REALITY THROUGH PRE- AND POST-PURCHASE COUNSELING AND WORKSHOPS, BUDGETING AND DEBT MANAGEMENT, FINANCIAL PLANNING AND MANAGEMENT, CREDIT REPAIR, AND LANDLORD EDUCATION. THE HOMEOWNERSHIP PRESERVATION PROGRAM COMBINES CLINICS AND COUNSELING SERVICES TO HELP EXISTING HOMEOWNERS HOLD ON TO THEIR HOMES WHEN CHALLENGES ARISE THROUGH BUDGETING AND SPENDING COUNSELING, REFINANCING HELP, DO-IT-YOURSELF TRAINING, EDUCATION ON LOWERING THE COSTS OF OWNING A HOME AND AVOIDING FORECLOSURE, MINIMIZING LOSSES, AND RECEIVING HELP WITH LOAN MODIFICATIONS.
  2. $849,026 spent. UNITECT, CT'S RENTAL ASSISTANCE PROGRAM AIMED TO HELP PEOPLE WHO STRUGGLED FINANCIALLY DURING THE PANDEMIC STAY IN THEIR HOMES. NHSW PERFORMED OUTREACH, ENGAGEMENT, AND MARKETING TO TENANTS AND LANDLORDS, ASSISTED AND MANAGED APPLICANTS WITH AND DURING THE PROCESS IN PERSON OR REMOTELY, MAINTAINED A DAILY LOG OF ACTIVITY, AND DETERMINED APPLICANTS' ELIGIBILITY. WE PROVIDED SERVICES TO OVER 10,00 HOUSEHOLDS, WHICH RECEIVED HELP SECURING RENTAL PAYMENT ASSISTANCE DUE TO FINANCIAL STRUGGLES DURING THE PANDEMIC.
  3. $2.1 million spent. NEIGHBORHOOD HOUSING SERVICES OF WATERBURY MANAGES AN AFFORDABLE RENTAL APARTMENT DEVELOPMENT IN THE NORTH END OF WATERBURY, CONSISTING OF 10 TOWNHOUSE STYLE, TWO- AND THREE-STORY, 3 BEDROOMS, 2 BATHS UNITS AVERAGING 1,252 SQ. FT. PER UNIT. ADDITIONALLY, NHS OF WATERBURY OWNS LAND FOR A 51 AFFORDABLE HOMEOWNERSHIP DEVELOPMENT CALLED OLD FARM RIDGE. NHS OF WATEBRURY WORK TO ENSURE THE ONGOING SAFETY, SECURITY, AND AFFORDABILITY. SERVICES INCLUDE COORDINATING THE HANDS-ON TASKS OF MAINTENANCE TO CRUNCHING NUMBERS FOR ACCOUNTING, CERTIFICATION, AND MORE.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since November 1980.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

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