Overview
What is Fenway Community Development Corporation?
Fenway Community Development Corporation (Fenway CDC) is a nonprofit organization situated in Boston, Massachusetts. Their primary mission is to enhance the economic and social well-being of low-income and moderate-income residents. They accomplish this by offering affordable housing, social services, job skills training, employment opportunities, financial coaching, healthy food, health and wellness programs, home-buying education, and community events. Fenway CDC manages several properties, including 15-25 Hemenway Housing, Fenway Apartments, LLC, and New Fenway Westland, LLC, all of which provide affordable housing options. Furthermore, they preserve existing affordable housing and work towards building new ones, as described in Schedule O under other program services. Through civic engagement and partnerships, Fenway CDC strives to preserve the Fenway neighborhood as a vibrant and diverse community, ensuring affordability citywide.
Official website here: www.fenwaycdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% - Three-Star out of Four Star Rating
Fenway Community Development Corporation has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and financial management. The overall score reflects a strong commitment to transparency and effective governance, as evidenced by the charity's 100% independent board membership and comprehensive oversight measures in place.
The organization has a robust accountability framework, scoring well in various categories such as financial statements and policies regarding conflict of interest and whistleblower protections. Notably, the program expense ratio stands at 88.82%, demonstrating that a significant portion of its funding is directed towards programmatic activities, which is a positive indicator for potential donors.
While the ratings highlight many strengths, it is essential for potential supporters to consider the charity's operational scale and the particular areas it focuses on for community development. As with any nonprofit, ongoing transparency and engagement with stakeholders will be vital for maintaining trust and effectiveness in achieving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Fenway Community Development Corporation legitimate?
Fenway Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fenway Community 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $146,156
Professional Fundraising Fees: $0
Other Salaries and Wages: $914,385
For more financial information, click here
Official website here: www.fenwaycdc.org
What is the mission statement of Fenway Community Development Corporation?
The Fenway Community Development Corporation strives to enhance the economic and social well-being of low-income and moderate-income residents. They offer various services such as affordable housing, social services, education, job skills training, employment, financial coaching, fresh healthy food, health and wellness programs, home-buying education, and community events. The organization continues to provide crucial services to aid residents in building stronger pathways to economic security. Through civic engagement and partnerships, Fenway CDC preserves and creates affordable housing, prevents eviction and homelessness, and advocates for improvements in housing policy to ensure affordability citywide. Their mission is to preserve the Fenway as a vibrant and diverse neighborhood by developing affordable housing, providing enriching programs, and strengthening community voices.
Official website here: www.fenwaycdc.org
Who is the CEO of Fenway Community Development Corporation?
Leah Camhi is the President/Board Member of Fenway Community Development Corporation.
Official website here: www.fenwaycdc.org
What is the revenue of Fenway Community Development Corporation?
Fenway Community Development Corporation's revenue in 2022 was $5,660,025.
Official website here: www.fenwaycdc.org
Who are the executives of Fenway Community Development Corporation and what are their salaries?
The average compensation at Fenway Community Development Corporation during 2022 was $50,502. There are 21 employees and 75 volunteers at Fenway Community Development Corporation.
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- Other: $4,890
Official website here: www.fenwaycdc.org
Where can I find the form 990 for Fenway Community Development Corporation?
Fenway Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fenwaycdc.org
Learn more at the official website: www.fenwaycdc.org
Mission Statement of Fenway Community Development Corporation
Fenway Community Development Corporation, abbreviated as FENWAY CDC, is dedicated to enhancing the economic and social well-being of low-income and moderate-income residents. The organization strives to achieve this by providing various services that cater to their needs. These services encompass affordable housing, social services, education, job skills training, employment opportunities, financial coaching, access to fresh and healthy food, health and wellness programs, home-buying education, and community events. FENWAY CDC's mission is multifaceted, aiming to empower its beneficiaries to build stronger pathways to economic security.
In addition to these services, FENWAY CDC is actively engaged in preserving and creating affordable housing. In 2022, the organization managed several rental properties, including 15-25 Hemenway Housing, a 24-unit mixed-income housing development; Fenway Apartments, LLC, comprising 22 units of affordable housing; and New Fenway Westland, LLC, a 96-unit mixed-income housing development. Moreover, FENWAY CDC manages five other affordable housing properties through its housing development and asset management programs. This commitment to affordable housing is further demonstrated by the organization's efforts to preserve existing and build new affordable housing, as described in Schedule O under other program services.
In essence, Fenway Community Development Corporation's mission is centered around improving the lives of its community members by providing essential services, promoting affordable housing, and advocating for policies that ensure affordability citywide. The organization serves as a vital resource, helping low-income and moderate-income residents build a stronger foundation for their future.
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Impact
July, 2024
Fenway Community Development Corporation has had a significant impact on improving the economic and social well-being of low-income and moderate-income residents in Boston. They have played a vital role in providing access to affordable housing, social services, education, job skills training, employment opportunities, financial coaching, fresh healthy food, health and wellness programs, home-buying education, and community events. By offering these crucial services, Fenway CDC has helped community residents build stronger pathways to economic security.
Furthermore, through civic engagement and partnerships, Fenway CDC has been actively involved in preserving and creating affordable housing, preventing eviction and homelessness, and advocating for improvements in the city's housing policy to ensure affordability citywide. Their efforts have not only provided housing opportunities but also empowered residents to thrive and contribute to the vibrant and diverse neighborhood of the Fenway area.
Fenway CDC's impact can also be seen in their ownership and management of multiple rental properties, including mixed-income housing developments and other affordable housing properties. Their commitment to preserving existing affordable housing and developing new units underscores their dedication to meeting the housing needs of the community. Overall, Fenway CDC's work has made a significant difference in enhancing the quality of life for individuals and families in need.
This information is meant to be a general summary of Fenway Community 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: $46,362
- Program Service Revenue: $4,516,176
- Gross Receipts: $5,714,995
Assets and Liabilities:
- Total Assets: $50,666,200
- Total Liabilities: $39,603,550
- Net Assets: $11,062,650
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$4,229,708
INTEREST INCOME ON LOA
Revenue
$133,977
GROUND LEASE INCOME
Revenue
$102,357
MANAGEMENT FEES
Revenue
$50,134
Organization Details
Founding Year
1973
Phone
(617) 267-4637Principal Officer
Leah Camhi
Main Address
70 BURBANK STREET, BOSTON, MA, 02115
Website
www.fenwaycdc.orgNTEE Category
Code: L25Z - Housing
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