Overview
What is Valley Affordable Housing Corp?
Valley Affordable Housing Corp is a dedicated nonprofit organization based in Cumberland, Rhode Island, with a mission to enhance the housing situation for low and moderate-income individuals. They strive to improve the overall housing stock by providing affordable housing options through rental and development initiatives. With a workforce of 15 employees, their primary goal is to assist individuals in becoming homeowners while ensuring decent housing is accessible to those in need, all under the supervision of the State of Rhode Island.
Official website here: www.valleyaffordable.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
Valley Affordable Housing Corp has achieved an 88% score on Charity Navigator, indicating a solid level of accountability and financial health. The organization boasts a fully independent board and a high program expense ratio of 87.47%, suggesting that a significant portion of its funds is directed towards its mission rather than overhead costs. The absence of material asset diversion and effective financial oversight further support its strong governance.
However, there are notable limitations in its policies, as the organization lacks a whistleblower policy and a document retention and destruction policy. Additionally, the tax form is not posted on the nonprofit's website, which may affect transparency. These gaps could be areas for improvement to enhance trust and accountability among stakeholders.
Overall, Valley Affordable Housing Corp demonstrates strong financial practices and governance, but addressing its policy deficiencies could further strengthen its credibility and operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Valley Affordable Housing Corp legitimate?
Valley Affordable Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Valley Affordable Housing Corp 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: $1,416,786
For more financial information, click here
Official website here: www.valleyaffordable.org
What is the mission statement of Valley Affordable Housing Corp?
Valley Affordable Housing Corp's mission is centered around providing affordable housing options. They achieve this through both rental and development initiatives. The corporation's primary goal is to improve the housing stock, assist individuals in becoming homeowners, and provide decent, affordable housing for those with low and moderate incomes. By doing so, they aim to make a positive impact on the lives of many, enhancing their living conditions and overall quality of life.
Official website here: www.valleyaffordable.org
Who is the CEO of Valley Affordable Housing Corp?
Peter Bouchard is the Director of Valley Affordable Housing Corp.
Official website here: www.valleyaffordable.org
What is the revenue of Valley Affordable Housing Corp?
Valley Affordable Housing Corp's revenue in 2022 was $2,973,827.
Official website here: www.valleyaffordable.org
Who are the executives of Valley Affordable Housing Corp and what are their salaries?
The average compensation at Valley Affordable Housing Corp during 2022 was $94,452. There are 15 employees at Valley Affordable Housing Corp.
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Official website here: www.valleyaffordable.org
Where can I find the form 990 for Valley Affordable Housing Corp?
Valley Affordable Housing Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.valleyaffordable.org
Learn more at the official website: www.valleyaffordable.org
Mission Statement of Valley Affordable Housing Corp
Valley Affordable Housing Corp, as a mission-driven organization, strives to enhance the housing landscape by offering both rental and development services. Their primary goal is to support individuals, particularly those with low and moderate incomes, in their pursuit of homeownership. Furthermore, they aim to provide decent and affordable housing options within the state of Rhode Island. By improving the housing stock and offering assistance to potential homeowners, Valley Affordable Housing Corp plays a crucial role in promoting housing accessibility for a significant portion of the population.
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Impact
July, 2024
Valley Affordable Housing Corp plays a crucial role in addressing the affordable housing crisis in the state of Rhode Island, particularly in Cumberland. By providing affordable housing through rental and development initiatives, this organization helps low and moderate-income individuals access decent and affordable housing options. Additionally, their services aim to improve the housing stock, support individuals in homeownership endeavors, and ensure that vulnerable populations have access to safe and stable housing. Through these efforts, Valley Affordable Housing Corp significantly impacts the lives of many individuals by providing them with a fundamental need - a place to call home.
This information is meant to be a general summary of Valley Affordable Housing Corp. 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: $102
- Program Service Revenue: $2,600,678
- Gross Receipts: $2,973,827
Assets and Liabilities:
- Total Assets: $7,315,317
- Total Liabilities: $3,762,402
- Net Assets: $3,552,915
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RELATED PARTY REIMB
Revenue
$1,361,860
RENTAL INCOME
Revenue
$579,667
MANAGEMENT FEE INCOME
Revenue
$376,507
DEVEL FEE INCOME
Revenue
$282,644
Organization Details
Founding Year
1995
Phone
(401) 334-2802Principal Officer
Peter Bouchard
Main Address
1029 MENDON ROAD, CUMBERLAND, RI, 02864
Website
www.valleyaffordable.orgNTEE Category
Code: L20 - Housing
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