Nazareth Housing Development
Public records show a registered, tax-exempt organization in good standing.
What it says it does
NAZARETH HOUSING DEVELOPMENT CORPORATION ("ORGANIZATION") EXISTS TO DEVELOP, ENCOURAGE AND FACILITATE SAFE AND CONTEMPORARY AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME FAMILIES AND INDIVIDUALS IN SUMMIT COUNTY, OHIO. THIS IS ACCOMPLISHED BY WAY OF REHABILITATION OF OLDER HOMES AND, AS NEEDED, CONSTRUCTION OF NEW HOMES FOR RENTAL, HOMEOWNERSHIP OR LEASE/PURCHASE. THE ORGANIZATION HAS STRONG PARTNERSHIPS WITH LOCAL MUNICIPALITIES TO PROVIDE LEAD HAZARD REDUCTION SERVICES WORK PERFORMED INCLUDES ALL MECHANICALS TO MEET CURRENT BUILDING CODE STANDARDS; UPDATING INTERIOR FINISHES; INTERIOR REDESIGNS; LEAD ABATEMENT; ENERGY EFFICIENT FURNACES/ APPLIANCES/ WINDOWS. IN TENDING TO INDIVIDUAL HOUSES AND FAMILIES, THE ORGANIZATION TAKES CARE OF SPECIFIC NEIGHBORHOODS IN THE CITY OF AKRON AND IN THE COUNTY OF SUMMIT. THE ORGANIZATION FURTHER FULFILLS ITS MISSION BY PARTNERING WITH OTHER GROUPS FOR FINANCIAL ASSISTANCE AND VOLUNTEER SUPPORT. THESE GROUPS INCLUDE THE CITY OF AKRON, COUNTY OF SUMM
- Income
- $376,175
- Spending
- $543,415
- Spent on programs
- 95%
- Reserves
- -3.9 months of spending
- Largest source of income
- fees for its services, 100%
- Employees
- 7
- Volunteers
- 24
- Highest pay
- $61,000, executive di
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
Weak: 31 out of 100. Higher than 17% of charities in its peer group (housing, $250k to $1m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
16 of 20It owes 27% of what it owns.
Living within its means
0 of 15Spending exceeded income by 44% of income.
Income trend
0 of 15Income fell 26% on the year before.
Spending floor
15 of 1595% of spending went to programs and raising each dollar of donations cost 5 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: 82 out of 100. Higher than 53% of charities in its peer group (housing, $250k to $1m).
Independent board
25 of 258 of 8 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
12 of 15Its accounts were reviewed or compiled by an independent accountant, but not audited.
No reported misuse
10 of 10Reports 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 (1)
- $514,471 spent. REHABILITATE VACANT AND/OR ABANDONED HOUSES FOR RENT, LEASE OR PURCHASE BY LOW TO MODERATE INCOME FAMILIES IN SUMMIT COUNTY, OHIO. BRING HOUSES UP TO CURRENT BUILDING CODE STANDARDS; ENSURE SAFE PROPERTY-SPECIFIC WATER TREATMENT SYSTEMS (WELL/SEPTIC); INCREASE ENERGY EFFICIENCY; UPDATE INTERIOR FINISHES AND REDESIGN INTERIORS AS FEASIBLE TO CREATE SAFE, CONTEMPORARY HOMES; BUILD NEW HOMES AS NECESSARY. REMOVE HAZARDOUS LEAD FOR LOW TO MODERATE INCOME HOMEOWNERS WITH YOUNG CHILDREN IN THE CITY OF AKRON AND SOUTHERN SUMMIT COUNTY. MODIFY HOMES FOR LOW INCOME INDIVIDUALS TO IMPROVE ACCESSABILITY/MOBILITY AND ASSIST WITH INDEPENDENT LIVING, AS FUNDS ALLOW.
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
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 September 7, 2026.
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 September 30, 2026.
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 September 10, 2026.
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 September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since June 2001.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
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 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.