Overview
What is Home City Development Inc?
Home City Development Inc, based in Springfield, Massachusetts, is a nonprofit organization dedicated to providing and maintaining affordable housing for families and individuals of lower income. Their mission encompasses three main objectives: restoring or replacing substandard housing, facilitating neighborhood growth and health in collaboration with partners, and working with residents to foster healthy and stable futures. By offering decent, affordable, and well-managed housing, Home City Development Inc aims to contribute to long-term family and community stability. With a team of five dedicated individuals, the organization is committed to making a positive impact in the Western Massachusetts area.
Official website here: www.homecitydevelopment.org
What are the reviews and ratings of this charity?
88% rating from Charity Navigator indicates that Home City Development Inc has a solid performance, earning a Three-Star out of Four Star rating. The high Accountability & Finance score of 93% showcases the organization's effective financial management practices and governance structure, highlighted by a fully independent board and thorough oversight mechanisms.
The organization demonstrates strong accountability with no indications of asset diversion and complies with necessary policies such as conflict of interest and whistleblower policies. However, while the program expense ratio is decent, it could be improved to allocate more funds directly to program services, as it currently stands at approximately 62.81%.
In terms of culture and community engagement, Home City Development excels with a perfect score, reflecting its commitment to collecting and utilizing feedback effectively. The organization maintains high standards in practices, demonstrating an overall dedication to transparency and community involvement, which are crucial for building trust with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Home City Development Inc legitimate?
Home City Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Home City 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: $170,811
Professional Fundraising Fees: $0
Other Salaries and Wages: $452,166
For more financial information, click here
Official website here: www.homecitydevelopment.org
What is the mission statement of Home City Development Inc?
Home City Development Inc's mission is centered around two main objectives. Firstly, it aims to restore or replace substandard housing, providing a supply of decent, affordable, and well-managed housing for individuals and families. Secondly, the organization facilitates neighborhood growth and health by collaborating with partners, working towards long-term family and community stability. Lastly, Home City Development Inc engages with residents, leveraging their strengths, to foster healthy and stable futures.
Official website here: www.homecitydevelopment.org
What is the revenue of Home City Development Inc?
Home City Development Inc's revenue in 2023 was $1,135,582.
Official website here: www.homecitydevelopment.org
Who are the executives of Home City Development Inc and what are their salaries?
The average compensation at Home City Development Inc during 2023 was $103,830. There are 6 employees and 25 volunteers at Home City Development Inc.
Here are 15 key members and their salaries:
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- Compensation: $164,777
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- Compensation: $140,851
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- Other: $4,942
- Compensation: $154,258
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Official website here: www.homecitydevelopment.org
Where can I find the form 990 for Home City Development Inc?
Home City Development Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.homecitydevelopment.org
Learn more at the official website: www.homecitydevelopment.org
Mission Statement of Home City Development Inc
Home City Development Inc is committed to restoring or replacing substandard housing, providing a supply of decent, affordable, and well-managed housing for individuals and families. This organization's mission extends beyond just housing, as it also aims to facilitate neighborhood growth and health in collaboration with partners, ultimately leading to long-term family and community stability. Home City Development Inc believes in working closely with residents, building on their strengths, to help them achieve healthy and stable futures. In essence, their mission is to revitalize living conditions, foster community development, and empower residents towards a brighter future.
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Impact
July, 2024
Home City Development Inc's impact is significant in the Springfield, MA area where it operates. The organization plays a crucial role in providing and maintaining housing for families and individuals of lower income. Through their efforts to restore or replace substandard housing with decent, affordable, and well-managed units, Home City Development Inc contributes to improving the living conditions and overall quality of life for many in the community. Additionally, their work to facilitate neighborhood growth and health, in collaboration with partners, leads to long-term stability for families and the community as a whole. By working directly with residents and building on their strengths, Home City Development Inc is actively contributing to creating healthier and more stable futures for those they serve.
This information is meant to be a general summary of Home City 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 2023.
- Investment Income: $261,872
- Program Service Revenue: $587,470
- Gross Receipts: $1,135,582
Assets and Liabilities:
- Total Assets: $19,443,390
- Total Liabilities: $6,574,590
- Net Assets: $12,868,800
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEE REVENUE
Revenue
$331,549
RENTAL INCOME
Revenue
$255,921
Organization Details
Founding Year
1968
Principal Officer
Thomas Kegelman
Website
www.homecitydevelopment.orgNTEE Category
Code: L20Z - Housing
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