Overview
What is Emc Affordable Housing Preservation Corp C/O Emerald Management?
Emc Affordable Housing Preservation Corp C/O Emerald Management is a nonprofit organization committed to providing affordable housing for low-income individuals. Based on the given information, the organization manages a 44-unit apartment complex, serving as a dedicated home for those with limited financial resources. The primary mission of Emc Affordable Housing Preservation Corp C/O Emerald Management is to ensure the availability of affordable housing, thereby contributing positively to its community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56% (One-Star out of Four Stars)
Emc Affordable Housing Preservation Corp C/O Emerald Management has received a 56% rating from Charity Navigator, indicating significant concerns in its accountability and financial practices. Although the organization boasts a fully independent board and demonstrates strong adherence to conflict of interest policies, its overall financial health is troubling, particularly highlighted by a high liabilities to assets ratio.
Strengths include a program expense ratio of 100%, which suggests that all of its expenses are directed towards its charitable programs. This is complemented by good governance practices such as documenting board meeting minutes and having a policy in place for conflicts of interest. However, the financial red flags, particularly the high liabilities, raise questions about the organization's sustainability and ability to meet its obligations.
In summary, while Emc Affordable Housing Preservation Corp shows strong governance and program commitment, its financial instability represents a significant risk. Potential donors and stakeholders should carefully consider these factors when evaluating the organization's effectiveness and long-term viability.
This AI summary has been generated from information found on Charity Navigator.
Is Emc Affordable Housing Preservation Corp C/O Emerald Management legitimate?
Emc Affordable Housing Preservation Corp C/O Emerald Management is a legitimate nonprofit organization registered as a 501(c)(3) entity. Emc Affordable Housing Preservation Corp C/O Emerald Management 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
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What is the mission statement of Emc Affordable Housing Preservation Corp C/O Emerald Management?
Emc Affordable Housing Preservation Corporation, operating under the management of Emerald Management, is dedicated to providing low-income housing. Their mission is clearly reflected in the operation of their 44-unit apartment complex, which serves as a residence for individuals with limited financial resources. The corporation's primary objective is to cater to the housing needs of this demographic, ensuring they have access to affordable living spaces.
Who is the CEO of Emc Affordable Housing Preservation Corp C/O Emerald Management?
Kurt Shangraw is the President of Emc Affordable Housing Preservation Corp C/O Emerald Management.
What is the revenue of Emc Affordable Housing Preservation Corp C/O Emerald Management?
Emc Affordable Housing Preservation Corp C/O Emerald Management's revenue in 2023 was $721,499.
Who are the executives of Emc Affordable Housing Preservation Corp C/O Emerald Management and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $40,745
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Emc Affordable Housing Preservation Corp C/O Emerald Management?
Emc Affordable Housing Preservation Corp C/O Emerald Management's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Emc Affordable Housing Preservation Corp C/O Emerald Management
Emc Affordable Housing Preservation Corporation, led by Emerald Management, is a committed organization with a mission to provide low-income housing. This mission is manifested through the operation of a 44-unit apartment complex, specifically designed for individuals with limited financial resources. The corporation's primary objective is to offer a suitable living space for these tenants, ensuring that affordable housing remains a viable option in the community. By providing such housing, Emc Affordable Housing Preservation Corporation contributes to the well-being of its residents and helps maintain a diverse and inclusive living environment. The corporation's unwavering commitment to low-income housing is a testament to its dedication to making a meaningful impact in the lives of its tenants.
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Impact
July, 2024
Emc Affordable Housing Preservation Corp C/O Emerald Management's impact is primarily focused on providing low-income housing through its operation of a 44-unit apartment complex in Westbrook, ME. Their mission is to offer affordable housing to those in need, contributing to the community by addressing the housing needs of low-income individuals. By providing stable and affordable housing options, they positively impact the lives of residents and help reduce homelessness and housing insecurity in the area.
This information is meant to be a general summary of Emc Affordable Housing Preservation Corp C/O Emerald Management. 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 2023.
- Investment Income: $362
- Program Service Revenue: $721,137
- Gross Receipts: $721,499
Assets and Liabilities:
- Total Assets: $1,842,662
- Total Liabilities: $1,771,043
- Net Assets: $71,619
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$717,321
MISCELLANEOUS
Revenue
$3,816
Organization Details
Founding Year
2001
Phone
(207) 854-2606Principal Officer
Kurt Shangraw
Main Address
752 MAIN STREET, WESTBROOK, ME, 04092
NTEE Category
Code: L21 - Housing
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