Overview
What is Vietnamese American Initiative For Development Inc?
Vietnamese American Initiative For Development Inc, established in 1994, is a community development corporation based in Dorchester, Massachusetts. Their primary goal is to develop affordable housing to stabilize the working class community. They've achieved this by constructing mixed-use affordable housing developments near public transportation and restricting them in perpetuity. The organization manages 123 affordable rental units, providing quality housing to over 120 families and individuals. VietAID offers housing counseling services, aiding applicants in navigating low-income housing tax credits and the Massachusetts Rental Voucher Programs. As a Massachusetts Homeownership Collaborative-approved counseling agency, they support families in renting homes or purchasing affordable housing and provide first-time homebuyer training in Vietnamese. VietAID has assisted over 400 families through housing counseling programs and educated approximately 600 limited English proficient individuals. Their mission is to build a strong Vietnamese American community and a vibrant Fields Corner neighborhood by increasing civic participation, promoting economic development and self-sufficiency, building affordable housing, and fostering youth leadership.
Official website here: www.vietaid.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
The Vietnamese American Initiative For Development Inc (VAI) has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The overall score is derived entirely from its accountability measures, indicating a robust commitment to transparency and responsible management of resources.
One of the notable strengths of VAI is its governance structure, with a board composed entirely of independent members. This level of independence, coupled with comprehensive financial oversight and a well-documented policy framework, enhances the organization’s credibility and trustworthiness in the eyes of donors and stakeholders.
Additionally, VAI demonstrates effective financial management, with a program expense ratio of over 79%, signifying that a significant portion of its funding is directed toward its programs. The organization maintains a low liabilities-to-assets ratio, which further supports its financial health. Overall, VAI stands out as a reliable nonprofit with a commitment to ethical practices and effective resource allocation.
This AI summary has been generated from information found on Charity Navigator.
Is Vietnamese American Initiative For Development Inc legitimate?
Vietnamese American Initiative For Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Vietnamese American Initiative For Development Inc 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: $80,407
Professional Fundraising Fees: $0
Other Salaries and Wages: $865,760
For more financial information, click here
Official website here: www.vietaid.org
What is the mission statement of Vietnamese American Initiative For Development Inc?
The Vietnamese American Initiative for Development Inc., established in 1994, serves as a grassroots community development corporation. Its mission is to foster a strong Vietnamese American community and revitalize the Fields Corner neighborhood. The organization aims to achieve this by encouraging civic participation, promoting economic development and self-sufficiency, constructing affordable housing for residents in the area, and nurturing youth leadership. The ultimate goal is to create a vibrant and inclusive community.
Official website here: www.vietaid.org
Who is the CEO of Vietnamese American Initiative For Development Inc?
George Huynh is the Executive Director (Until 12/1/22) of Vietnamese American Initiative For Development Inc.
Official website here: www.vietaid.org
What is the revenue of Vietnamese American Initiative For Development Inc?
Vietnamese American Initiative For Development Inc's revenue in 2022 was $1,939,615.
Official website here: www.vietaid.org
Who are the executives of Vietnamese American Initiative For Development Inc and what are their salaries?
The average compensation at Vietnamese American Initiative For Development Inc during 2022 was $33,792. There are 28 employees and 22 volunteers at Vietnamese American Initiative For Development Inc.
Here are 10 key members and their salaries:
- Compensation: $74,459
- Related: $0
- Other: $203
- Compensation: $10,000
- Related: $0
- Other: $145
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.vietaid.org
Where can I find the form 990 for Vietnamese American Initiative For Development Inc?
Vietnamese American Initiative For Development Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.vietaid.org
Learn more at the official website: www.vietaid.org
Mission Statement of Vietnamese American Initiative For Development Inc
Vietnamese American Initiative For Development Inc, established in 1994, is a grassroots community development corporation with a mission to foster a robust Vietnamese American community and a lively Fields Corner neighborhood. The organization's mission is multifaceted, encompassing four primary goals. Firstly, Vietnamese American Initiative For Development Inc aims to boost civic participation within the community, encouraging active involvement in local affairs. Secondly, the nonprofit promotes economic development and self-sufficiency, empowering the community members to become financially independent.
Thirdly, Vietnamese American Initiative For Development Inc is committed to constructing affordable housing for residents in Fields Corner and the greater Dorchester area. By addressing the issue of housing affordability, the organization seeks to provide a stable living environment for its community members. Lastly, the nonprofit is dedicated to fostering youth leadership, nurturing the next generation of leaders within the Vietnamese American community.
In essence, Vietnamese American Initiative For Development Inc works tirelessly to strengthen its community by encouraging civic engagement, stimulating economic growth, providing affordable housing, and nurturing young leaders. By doing so, it strives to create a vibrant and self-sufficient community that can thrive and grow together.
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Impact
July, 2024
Vietnamese American Initiative For Development Inc's impact can be seen in the development of affordable housing in the Dorchester area of Massachusetts. The organization has built five significant mixed-use affordable housing projects, providing stable and quality housing to over 123 families and individuals. Additionally, they offer housing counseling programs and first-time homebuyer training, assisting hundreds of families in acquiring affordable homes and building wealth.
Furthermore, Vietnamese American Initiative For Development Inc promotes economic development and self-sufficiency within the Vietnamese American community. By providing access to resources, education on financial literacy, and assistance in home purchases, the organization helps low-income families improve their income and accumulate wealth.
Through their efforts in civic participation, economic development, affordable housing initiatives, and youth leadership development, Vietnamese American Initiative For Development Inc plays a crucial role in building a strong Vietnamese American community and a vibrant neighborhood in Fields Corner.
This information is meant to be a general summary of Vietnamese American Initiative For Development Inc. 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: $4,537
- Program Service Revenue: $461,072
- Gross Receipts: $1,939,615
Assets and Liabilities:
- Total Assets: $5,585,930
- Total Liabilities: $2,083,610
- Net Assets: $3,502,320
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEES
Revenue
$186,356
FEES AND PROJECT REIMB
Revenue
$114,861
RENTAL INCOME
Revenue
$110,250
PROGRAM SERVICE INCOME
Revenue
$49,605
Organization Details
Founding Year
1994
Phone
(617) 822-3717Principal Officer
George Huynh
Main Address
42 CHARLES STREET, DORCHESTER, MA, 02122
Website
www.vietaid.orgNTEE Category
Code: L21 - Housing
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