Overview
What is Financial Institutions Housing Opportunity Pool?
The Financial Institutions Housing Opportunity Pool is a nonprofit entity based in Jackson, Mississippi. Their primary mission is to aid in the construction, development, or renovation of multi-family residential housing units in Mississippi, specifically for individuals with low to moderate income levels. Their objective is to provide affordable housing within the state, thus contributing to the community by ensuring that a diverse population has access to suitable living spaces.
Official website here: www.fihop.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Stars)
The Financial Institutions Housing Opportunity Pool has received a solid rating of 83%, indicating a strong performance in accountability and finance. The organization boasts a fully independent board comprised of 16 members, alongside a commendable 69.62% program expense ratio. These figures suggest that a significant portion of their funding is directed towards their programs, which is a positive sign of effective resource allocation.
However, there are some notable areas for improvement. The organization lacks a whistleblower policy and a document retention and destruction policy, both of which are critical for maintaining transparency and governance standards. While the absence of these policies does not directly impact their financial health, it raises questions about their commitment to best practices in accountability.
Overall, the Financial Institutions Housing Opportunity Pool demonstrates a strong framework in terms of governance and resource management, but it would benefit from enhancing its policies related to transparency and operational protocols.
This AI summary has been generated from information found on Charity Navigator.
Is Financial Institutions Housing Opportunity Pool legitimate?
Financial Institutions Housing Opportunity Pool is a legitimate nonprofit organization registered as a 501(c)(3) entity. Financial Institutions Housing Opportunity Pool 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
Official website here: www.fihop.com
What is the mission statement of Financial Institutions Housing Opportunity Pool?
The Financial Institutions Housing Opportunity Pool's mission is centered around providing affordable housing solutions. Specifically, it aims to serve individuals with low income, contributing to the construction, development, or renovation of multi-family residential properties in Mississippi. Its objective is to ensure that housing remains an accessible resource for a significant portion of the population, thereby promoting a more equitable living environment.
Official website here: www.fihop.com
What is the revenue of Financial Institutions Housing Opportunity Pool?
Financial Institutions Housing Opportunity Pool's revenue in 2024 was $83,651.
Official website here: www.fihop.com
Who are the executives of Financial Institutions Housing Opportunity Pool and what are their salaries?
Here are 18 key members and their salaries:
- Compensation: $0
- Related: $0
- 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
- Compensation: $0
- Related: $0
- 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
- Compensation: $0
- Related: $0
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.fihop.com
Where can I find the form 990 for Financial Institutions Housing Opportunity Pool?
Financial Institutions Housing Opportunity Pool's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.fihop.com
Learn more at the official website: www.fihop.com
Mission Statement of Financial Institutions Housing Opportunity Pool
The Financial Institutions Housing Opportunity Pool is committed to providing affordable housing solutions in Mississippi for individuals with low income. This nonprofit organization plays a significant role in facilitating the construction, development, or renovation of multi-family residential properties within the state. By doing so, it aims to make housing more accessible for individuals who fall under the low to moderate income bracket. This mission is crucial in addressing the housing needs of a portion of the population that may otherwise struggle to secure affordable housing, thereby promoting social equity and improving living conditions for these individuals.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Financial Institutions Housing Opportunity Pool has made a significant impact on affordable housing in Mississippi, particularly for individuals and families with low to moderate incomes. By assisting in the construction, development, and rehabilitation of residential multi-family housing, it addresses a critical need in the region.
This initiative not only helps to increase the availability of affordable housing options but also enhances the living conditions for low-income residents in Jackson and beyond. By focusing on these communities, it fosters greater stability and opportunities for residents who might otherwise struggle to find suitable housing. Overall, the Financial Institutions Housing Opportunity Pool plays a crucial role in promoting housing equity and improving the quality of life for vulnerable populations in Mississippi.
This information is meant to be a general summary of Financial Institutions Housing Opportunity Pool. 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 2024.
- Investment Income: $22,088
- Program Service Revenue: $59,563
- Gross Receipts: $83,651
Assets and Liabilities:
- Total Assets: $917,162
- Total Liabilities: $31,467
- Net Assets: $885,695
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE FEE
Revenue
$36,678
COMMITMENT FEE INCOME
Revenue
$11,820
MORTGAGE LOAN INTEREST
Revenue
$7,815
EXTENSION FEE INCOME
Revenue
$3,250
Organization Details
Founding Year
2004
Principal Officer
Breanne Hancock
Website
www.fihop.comNTEE Category
Code: L80 - Housing
If you are a representative of Financial Institutions Housing Opportunity Pool and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.