Overview
What is Ingraham Housing Corporation?
Ingraham Housing Corporation is a community-focused organization located at 50 Lydia Lane, South Portland, Maine (04106). Primarily functioning as a lessor, they rent properties to a related 501(c)(3) organization. Serving as a Community Housing Development Organization (CHODO), they secure financing for low-income housing and lease these properties to their affiliated nonprofit entity.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 66%, Two-Star out of Four Star rating.
Ingraham Housing Corporation has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and finance management. The overall score, derived from a single beacon focused on accountability and finance, reflects both strengths and weaknesses within the organization. Notably, the organization has a majority of independent board members and demonstrates a strong commitment to financial management by having no reported material diversion of assets.
However, the nonprofit has limitations that have impacted its rating. It lacks independent members on its board, which can raise concerns about governance. Additionally, the absence of publicly posted tax forms and board meeting minutes reflects a transparency issue that may affect stakeholder trust. Despite these shortcomings, the organization maintains a 100% program expense ratio, highlighting its dedication to effective fund allocation towards its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Ingraham Housing Corporation legitimate?
Ingraham Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ingraham Housing Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Ingraham Housing Corporation?
Ingraham Housing Corporation serves as a Community Housing Development Organization (CHODO), with its primary mission being to secure funding for low-income housing and lease these properties to a related 501(c)(3) organization. This organization's objective is to contribute to the provision of housing for individuals in need, thereby supporting a related non-profit organization in its mission. By obtaining financing for affordable housing, Ingraham Housing Corporation plays a crucial role in addressing housing needs and fostering community development. Their activities primarily revolve around leasing properties to the associated 501(c)(3) organization.
Who is the CEO of Ingraham Housing Corporation?
Joseph Everett is the President of Ingraham Housing Corporation.
What is the revenue of Ingraham Housing Corporation?
Ingraham Housing Corporation's revenue in 2022 was $195,278.
Who are the executives of Ingraham Housing Corporation and what are their salaries?
There 4 volunteers at Ingraham Housing Corporation.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $193,639
- Other: $16,342
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Ingraham Housing Corporation?
Ingraham Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ingraham Housing Corporation
Ingraham Housing Corporation, as a Community Housing Development Organization (CHODO), plays a crucial role in providing affordable housing solutions. Its mission is to secure low-income housing financing and lease these properties to a related 501(c)(3) organization. This organization acts as a lessor, providing housing solutions to those in need, thereby contributing to the community's overall well-being and social development. By obtaining financing for low-income housing and leasing properties to a related nonprofit, Ingraham Housing Corporation is able to make a significant impact on the lives of individuals and families who might otherwise struggle to secure affordable housing.
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Impact
October, 2024
Ingraham Housing Corporation plays a significant role in addressing housing needs within the community by focusing on the development and leasing of affordable housing. By operating as a Community Housing Development Organization (CHODO), it secures low-income housing financing and strategically leases properties to support a related 501(c)(3) organization. This collaboration allows for the efficient use of resources and maximizes the potential to serve individuals and families in need.
Based in South Portland, Maine, Ingraham Housing Corporation’s mission centers on enhancing housing accessibility, thereby contributing to the overall well-being of the community. Through its efforts, it not only provides essential housing options but also plays a critical part in fostering stability and growth for vulnerable populations. The impact of Ingraham Housing Corporation extends beyond mere housing provision; it cultivates a supportive environment that empowers residents and promotes long-term positive outcomes in their lives.
This information is meant to be a general summary of Ingraham Housing Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $217
- Program Service Revenue: $195,061
- Gross Receipts: $195,278
Assets and Liabilities:
- Total Assets: $1,642,948
- Total Liabilities: $1,565,265
- Net Assets: $77,683
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Lease Revenue
Revenue
$192,669
Misc. Revenue
Revenue
$2,392
Organization Details
Founding Year
1995
Phone
(207) 523-5021Principal Officer
Joseph Everett
Main Address
50 Lydia Lane, South Portland, ME, 04106
NTEE Category
Code: L80Z - Housing
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