Overview
What is Contoocook Housing Trust?
Contoocook Housing Trust is a nonprofit organization situated in New Ipswich, New Hampshire. Established in 2022, its primary mission is to offer affordable housing solutions for families with moderate to low income. As of 2022, the trust has successfully accommodated over 58 families in 54 units spread across 13 properties in various nearby towns. By providing affordable rental and homeownership opportunities, the Contoocook Housing Trust aims to contribute positively to the local community, ensuring that housing remains an accessible option for all. With a small team of just two dedicated individuals, the trust effectively manages its properties and continues to serve its target area towns.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75%, Three-Star out of Four Star rating.
Contoocook Housing Trust has achieved a Three-Star rating due to its solid performance in accountability and finance, reflecting a commitment to transparency and effective financial management. The organization scored 75% overall, with its accountability and finance score being the sole factor in this rating. This suggests a strong emphasis on maintaining financial integrity and operational transparency.
The nonprofit boasts a fully independent board, with all eight members meeting the criteria for independence. It also demonstrates effective governance practices, including a conflict of interest policy and a documented process for retaining and destroying records. The absence of any material diversion of assets further underscores the organization's reliability and stewardship of resources.
However, while the program expense ratio stands at a commendable 78.43%, indicating that a significant portion of expenditures directly supports its mission, the overall rating reflects only financial and accountability metrics. This means that aspects such as program impact or community feedback are not factored into the score, which could limit a holistic understanding of the organization's effectiveness in achieving its goals.
This AI summary has been generated from information found on Charity Navigator.
Is Contoocook Housing Trust legitimate?
Contoocook Housing Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Contoocook Housing Trust 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: $81,269
Professional Fundraising Fees: $0
Other Salaries and Wages: $20,805
For more financial information, click here
What is the mission statement of Contoocook Housing Trust?
The Contoocook Housing Trust, as an organization, is dedicated to providing affordable housing solutions, both for rental and homeownership. It caters to families with moderate and low income, ensuring they have access to suitable living spaces within their identified service areas. In 2022, the Trust successfully offered secure and reasonably priced accommodations to over 58 families, distributing these facilities across 13 properties in four different towns.
Who is the CEO of Contoocook Housing Trust?
Alice Altman is the Executive Director of Contoocook Housing Trust.
What is the revenue of Contoocook Housing Trust?
Contoocook Housing Trust's revenue in 2022 was $590,769.
Who are the executives of Contoocook Housing Trust and what are their salaries?
The average compensation at Contoocook Housing Trust during 2022 was $51,037. There are 2 employees at Contoocook Housing Trust.
Here are 11 key members and their salaries:
- Compensation: $81,269
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Where can I find the form 990 for Contoocook Housing Trust?
Contoocook Housing Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Contoocook Housing Trust
Contoocook Housing Trust is a nonprofit organization dedicated to providing affordable housing solutions for low and moderate-income families in various towns. Their mission is to create and sustain affordable rental and homeownership opportunities, ensuring that families in need have a secure place to call home. In 2022, this mission was brought to life as the trust offered safe and affordable housing to over 58 families, distributing their services across 13 properties in four different towns.
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Impact
July, 2024
Contoocook Housing Trust provided safe, affordable housing to more than 58 families in 54 units across four area towns in 2022. This impact directly addresses the critical need for affordable rental and homeownership opportunities for low and moderate-income families in the target area, offering a stable housing option for those in need.
This information is meant to be a general summary of Contoocook Housing Trust. 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: $1,568
- Program Service Revenue: $585,501
- Gross Receipts: $590,769
Assets and Liabilities:
- Total Assets: $2,338,620
- Total Liabilities: $634,945
- Net Assets: $1,703,675
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental income and fees
Revenue
$585,501
Organization Details
Founding Year
1990
Phone
(603) 878-1247Principal Officer
Alice Altman
Main Address
PO Box 216, New Ipswich, NH, 03071
NTEE Category
Code: L20 - Housing
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