Overview
What is Marblehead Community Housing Corporation C/O Harborlight Community Partners?
Marblehead Community Housing Corporation, under the umbrella of Harborlight Community Partners, is a nonprofit organization situated in Beverly, Massachusetts. Their primary mission is to offer affordable housing options for individuals with low incomes. Specifically, they manage a residential building comprising four units. The organization's activities are centered around providing affordable housing, a vital service that caters to the needs of those who may not otherwise be able to secure suitable housing.
Official website here: www.harborlightcp.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 68% (Two-Star out of Four Stars)
The Marblehead Community Housing Corporation, affiliated with Harborlight Community Partners, has received a Two-Star rating from Charity Navigator, indicating some areas of concern in its financial accountability and transparency. The organization excels in having a fully independent board, which reflects a commitment to governance and oversight, achieving perfect scores in several governance categories.
However, the nonprofit struggles with high liabilities, as indicated by a liabilities to assets ratio of 124.08%, which raises concerns about its financial stability. While it maintains a commendable program expense ratio of 93.75%, showing effective use of funds for programs, there are significant gaps in its policies, specifically the absence of a whistleblower policy and document retention guidelines, which could impact its accountability practices.
Overall, while the Marblehead Community Housing Corporation demonstrates strengths in governance and program funding, its financial liabilities and missing policies suggest that potential donors and supporters should consider these factors when assessing its long-term viability and impact.
This AI summary has been generated from information found on Charity Navigator.
Is Marblehead Community Housing Corporation C/O Harborlight Community Partners legitimate?
Marblehead Community Housing Corporation C/O Harborlight Community Partners is a legitimate nonprofit organization registered as a 501(c)(3) entity. Marblehead Community Housing Corporation C/O Harborlight Community Partners 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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Official website here: www.harborlightcp.org
What is the mission statement of Marblehead Community Housing Corporation C/O Harborlight Community Partners?
The organization, Marblehead Community Housing Corporation C/O Harborlight Community Partners, is committed to providing affordable housing solutions for low-income individuals. This mission is carried out through the operation of a residential building, which houses four units, offering affordable living spaces for those in need. The corporation's primary goal is to contribute to the community by ensuring that a diverse range of individuals have access to housing they can afford, thereby promoting social equality and well-being.
Official website here: www.harborlightcp.org
Who is the CEO of Marblehead Community Housing Corporation C/O Harborlight Community Partners?
Andrew Defranza is the Director of Marblehead Community Housing Corporation C/O Harborlight Community Partners.
Official website here: www.harborlightcp.org
What is the revenue of Marblehead Community Housing Corporation C/O Harborlight Community Partners?
Marblehead Community Housing Corporation C/O Harborlight Community Partners's revenue in 2022 was $59,688.
Official website here: www.harborlightcp.org
Who are the executives of Marblehead Community Housing Corporation C/O Harborlight Community Partners and what are their salaries?
There 19 volunteers at Marblehead Community Housing Corporation C/O Harborlight Community Partners.
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- Related: $309,036
- Other: $17,431
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- Related: $233,618
- Other: $43,149
Official website here: www.harborlightcp.org
Where can I find the form 990 for Marblehead Community Housing Corporation C/O Harborlight Community Partners?
Marblehead Community Housing Corporation C/O Harborlight Community Partners's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.harborlightcp.org
Learn more at the official website: www.harborlightcp.org
Mission Statement of Marblehead Community Housing Corporation C/O Harborlight Community Partners
Marblehead Community Housing Corporation, under the umbrella of Harborlight Community Partners, is committed to a noble mission. In simple terms, their primary objective is to provide affordable housing for individuals with low income. This nonprofit organization goes beyond just offering housing; it ensures that the residential building at its disposal, comprising four units, is made accessible to those who might otherwise struggle to secure a decent place to live. The organization's mission is a crucial step towards promoting social equality and inclusivity, ensuring that everyone has the basic necessity of a home, regardless of their financial circumstances.
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Impact
August, 2024
Marblehead Community Housing Corporation, operating under Harborlight Community Partners, provides affordable housing for low-income individuals in Beverly, MA. The organization's impact lies in offering a residential building with 4 units, ensuring that those in need have access to a safe and sustainable housing option. This initiative directly contributes to addressing housing insecurity and improving the quality of life for low-income individuals in the community.
This information is meant to be a general summary of Marblehead Community Housing Corporation C/O Harborlight Community Partners. 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.
- Program Service Revenue: $58,260
- Gross Receipts: $59,688
Assets and Liabilities:
- Total Assets: $473,012
- Total Liabilities: $586,946
- Net Assets: -$113,934
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$58,260
Organization Details
Founding Year
1990
Phone
(978) 222-1305Principal Officer
Andrew Defranza
Main Address
PO BOX 507, BEVERLY, MA, 01915
Website
www.harborlightcp.orgNTEE Category
Code: L80Z - Housing
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