Overview
What is Island Housing Trust Corporation?
The Island Housing Trust Corporation, headquartered in West Tisbury, Massachusetts, is a nonprofit organization committed to developing and maintaining affordable housing. Their mission involves leasing land to construct and manage housing units that are both rental and ownership-based, ensuring they remain affordable for generations to come. This nonprofit's primary goal is to address the housing needs on Martha's Vineyard, Massachusetts, providing a vital solution to local residents who may struggle with housing affordability. With a team of 13 dedicated individuals, the Island Housing Trust Corporation plays a significant role in enhancing the community's living standards.
Official website here: www.ihtmv.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 94%, Four-Star out of Four Star rating.
Island Housing Trust Corporation has received a high rating of 94% from Charity Navigator, reflecting its strong performance in accountability and finance. With a perfect score of 100% for independent board members and robust financial oversight systems, the organization demonstrates a commitment to transparency and ethical governance. Key metrics such as a program expense ratio of 77.63% indicate that a significant majority of funds are directed toward its mission.
The organization also excels in fundraising efficiency and financial health, with a ratio of $0.07 spent on fundraising for every dollar raised. This efficiency is complemented by a low liabilities to assets ratio of 33.86%, showcasing its ability to manage resources effectively. Additionally, the presence of comprehensive policies, including conflict of interest and whistleblower policies, further enhances its governance framework.
While the organization has a solid foundation, it scored lower in the Culture & Community and Equity Strategies scores at 79 out of 100. This suggests there may be room for improvement in these areas, particularly in implementing equity practices. However, overall, Island Housing Trust Corporation stands out as a responsible and effective nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Island Housing Trust Corporation legitimate?
Island Housing Trust Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Island Housing Trust 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: $169,060
Professional Fundraising Fees: $0
Other Salaries and Wages: $718,474
For more financial information, click here
Official website here: www.ihtmv.org
What is the mission statement of Island Housing Trust Corporation?
The Island Housing Trust Corporation's mission is centered around owning and leasing land for the purpose of developing, constructing, and maintaining affordable housing. This mission extends beyond general principles, as it specifically focuses on Martha's Vineyard, Massachusetts. The organization is dedicated to creating simple, durable, and energy-efficient housing, both for rental and ownership, ensuring they remain affordable for generations to come.
Official website here: www.ihtmv.org
Who is the CEO of Island Housing Trust Corporation?
Philippe Jordi is the President of Island Housing Trust Corporation.
Official website here: www.ihtmv.org
What is the revenue of Island Housing Trust Corporation?
Island Housing Trust Corporation's revenue in 2022 was $5,890,388.
Official website here: www.ihtmv.org
Who are the executives of Island Housing Trust Corporation and what are their salaries?
The average compensation at Island Housing Trust Corporation during 2022 was $68,272. There are 13 employees and 22 volunteers at Island Housing Trust Corporation.
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- Compensation: $141,287
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- Other: $27,120
Official website here: www.ihtmv.org
Where can I find the form 990 for Island Housing Trust Corporation?
Island Housing Trust Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ihtmv.org
Learn more at the official website: www.ihtmv.org
Mission Statement of Island Housing Trust Corporation
The Island Housing Trust Corporation is committed to a mission that involves owning and leasing land for the purpose of developing, constructing, and maintaining affordable housing. This mission is specifically tailored towards Martha's Vineyard, Massachusetts. The organization is dedicated to creating simple, durable, and energy-efficient housing units that are affordable to both purchase and rent, ensuring they can be maintained for generations to come. The Island Housing Trust Corporation's mission aims to address the pressing need for affordable housing, offering both rental and ownership options to meet the diverse needs of their community.
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Impact
July, 2024
Island Housing Trust Corporation has a significant impact on Martha's Vineyard by providing affordable housing options through the development, building, and maintenance of simple, durable, and energy-efficient housing. Their mission to own and lease land for the purpose of creating affordable housing has helped address the housing needs of the community in West Tisbury, Massachusetts. By offering both rental and ownership options that are truly affordable, the organization plays a key role in ensuring that individuals and families have access to safe and sustainable housing for generations to come.
This information is meant to be a general summary of Island Housing Trust 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: $202,144
- Program Service Revenue: $761,890
- Gross Receipts: $7,471,021
Assets and Liabilities:
- Total Assets: $36,550,950
- Total Liabilities: $12,382,117
- Net Assets: $24,168,833
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$714,440
GROUND LEASE INCOME
Revenue
$42,950
PROJECT MANAGEMENT FEES
Revenue
$4,500
Organization Details
Founding Year
2002
Phone
(508) 693-1117Principal Officer
Philippe Jordi
Main Address
POBOX 779, WEST TISBURY, MA, 02575
Website
www.ihtmv.orgNTEE Category
Code: L21 - Housing
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