Overview
What is Center City Housing Inc?
Center City Housing Inc, located at 261 Oak Grove Avenue, Springfield, MA 01109, is a nonprofit organization committed to providing affordable housing for lower-income families and individuals. Their mission encompasses owning, rehabilitating, developing, restoring, and replacing housing to ensure a supply of decent, safe, and sanitary living spaces. The organization's activities and mission are geared towards addressing the housing needs of this specific demographic, contributing to the improvement of living conditions in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54% (One-Star out of Four Stars)
Center City Housing Inc has received a low rating of 54%, indicating concerns regarding its financial management and operational effectiveness. While the organization has demonstrated strong governance practices, such as having a fully independent board and comprehensive policies for conflict of interest and whistleblower protections, its financial metrics raise red flags.
The organization scored well in several governance areas, including board independence and the presence of essential policies, which can support accountability and transparency. However, the significant limitation lies in its financial performance, particularly the low program expense ratio of 15.05%, which suggests that a minimal portion of its expenditures are directed towards its mission-related activities.
Additionally, the liabilities to assets ratio of 0.00% points to potential financial instability or underreporting of liabilities. Overall, while the nonprofit displays strengths in governance, the concerning financial data highlights the need for improvement in efficiently utilizing resources to fulfill its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Center City Housing Inc legitimate?
Center City Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Center City Housing 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Center City Housing Inc?
Center City Housing Inc's mission is focused on providing decent, safe, and sanitary housing for families and individuals of lower income. They accomplish this by owning, rehabilitating, developing, restoring, and occasionally replacing properties to meet this need. The organization's goal is to ensure a continuous supply of such housing, thereby contributing to the betterment of these communities.
Who is the CEO of Center City Housing Inc?
Thomas Kegelman is the President of Center City Housing Inc.
What is the revenue of Center City Housing Inc?
Center City Housing Inc's revenue in 2022 was $2,092,912.
Who are the executives of Center City Housing Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Center City Housing Inc?
Center City Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Center City Housing Inc
Center City Housing Inc, a nonprofit organization, is dedicated to providing housing solutions for families and individuals of lower income. Their mission is multifaceted, involving the acquisition, renovation, and construction of housing units to ensure an adequate supply of decent, safe, and hygienic living spaces. By owning, rehabilitating, developing, restoring, and replacing these properties, Center City Housing Inc strives to make a significant impact on the housing landscape, providing a much-needed resource for those who may otherwise struggle to secure affordable housing. The organization's ultimate goal is to create a positive impact on the lives of these individuals and families, offering them the opportunity to live in safe and suitable homes.
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Impact
July, 2024
Center City Housing Inc's impact is profound, as it directly addresses the critical need for decent, safe, and sanitary housing for families and individuals with lower incomes in Springfield, MA. Through its activities of owning, rehabilitating, developing, restoring, and replacing such housing, Center City Housing Inc plays a vital role in providing affordable housing options in the community. By ensuring that families and individuals have access to suitable housing, this organization contributes to enhancing the overall well-being and stability of those in need.
This information is meant to be a general summary of Center City Housing 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: $455,412
- Program Service Revenue: $1,637,500
- Gross Receipts: $2,092,912
Assets and Liabilities:
- Total Assets: $23,655,443
- Total Liabilities: $0
- Net Assets: $23,655,443
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TAX CREDIT REVENUE
Revenue
$1,627,500
LENDER FEE INCOME
Revenue
$10,000
Organization Details
Founding Year
1999
Phone
(413) 785-5312Principal Officer
Thomas Kegelman
Main Address
261 OAK GROVE AVENUE, SPRINGFIELD, MA, 01109
NTEE Category
Code: L21 - Housing
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