Overview
What is Norfolk Housing Development Corporation?
The Norfolk Housing Development Corporation is a dedicated nonprofit organization situated in Norfolk, Nebraska. Their primary mission is to foster adequate and affordable housing, stimulate economic growth, and establish a conducive living environment, devoid of discrimination. To accomplish this, they collaborate with the Norfolk Housing Agency, providing financial support to construct new residences for families with modest incomes. Their commitment extends beyond housing, as they strive to create opportunities that enhance the overall well-being of these communities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star rating)
The Norfolk Housing Development Corporation has received a commendable rating of 87%, indicating solid performance in terms of accountability and financial health. This rating emphasizes the organization's strong governance practices, as reflected in its perfect scores for independent board members and size, as well as the absence of material diversion of assets.
The organization demonstrates a commitment to transparency and accountability, evidenced by its well-established conflict of interest and whistleblower policies. Additionally, the board meeting minutes are documented, ensuring that stakeholders have access to vital information regarding the corporation's activities and decisions.
Financially, the Norfolk Housing Development Corporation shows a robust position with a low liabilities to assets ratio of 9.31% and an impressive program expense ratio of 100%. This indicates that the organization is effectively allocating its resources towards its mission-driven programs. Overall, while the rating reflects strong performance, continued attention to these financial and governance practices will be essential for ongoing success.
This AI summary has been generated from information found on Charity Navigator.
Is Norfolk Housing Development Corporation legitimate?
Norfolk Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Norfolk Housing Development 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.
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What is the mission statement of Norfolk Housing Development Corporation?
The Norfolk Housing Development Corporation's mission is centered around promoting three primary aspects: adequate and affordable housing, economic opportunities, and a living environment free from discrimination. This organization strives to achieve these goals by providing necessary funding for initiatives, in this case, supporting the Norfolk Housing Agency's program to construct new homes for families with moderate to low incomes.
Who is the CEO of Norfolk Housing Development Corporation?
Gary Bretschneider is the Chairman of Norfolk Housing Development Corporation.
What is the revenue of Norfolk Housing Development Corporation?
Norfolk Housing Development Corporation's revenue in 2022 was $71,440.
Who are the executives of Norfolk Housing Development Corporation and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Norfolk Housing Development Corporation?
Norfolk Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Norfolk Housing Development Corporation
Norfolk Housing Development Corporation, as a nonprofit organization, is committed to promoting adequate and affordable housing, economic opportunities, and a living environment free from discrimination. Their mission is to actively contribute to this cause by providing necessary funding for projects aimed at constructing new homes for low to moderate income families. By doing so, they strive to enhance the overall living conditions for these families and contribute to a more equitable community.
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Impact
August, 2024
Norfolk Housing Development Corporation's impact can be seen in its efforts to promote adequate and affordable housing, economic opportunity, and a suitable living environment free from discrimination. Through funding the Norfolk Housing Agency's program to build new homes for low to moderate income families, the organization plays a key role in addressing housing needs in the community. Their mission to ensure access to decent housing and economic opportunities underscores their commitment to creating a more inclusive and equitable society.
This information is meant to be a general summary of Norfolk Housing Development 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: $78
- Program Service Revenue: $25,000
- Gross Receipts: $185,083
Assets and Liabilities:
- Total Assets: $1,394,161
- Total Liabilities: $181,558
- Net Assets: $1,212,603
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Income from Sale of Ho
Revenue
$25,000
Organization Details
Founding Year
2002
Phone
(402) 844-2080Principal Officer
Gary Bretschneider
Main Address
1310 W Norfolk Ave D, Norfolk, NE, 68701
NTEE Category
Code: L21 - Housing
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