Overview
What is New Canaan Neighborhoods Inc?
New Canaan Neighborhoods Inc, headquartered in Branford, Connecticut, holds a significant role as the owner of a general partner interest in a Low-Income Housing Tax Credit real estate project. This nonprofit organization is dedicated to this particular project, contributing to the provision of affordable housing options for individuals and families in need. Their mission revolves around this specific role, demonstrating their commitment to promoting affordable housing opportunities within their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 61%)
New Canaan Neighborhoods Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in its operations and transparency. The overall score of 61% reflects both strengths and weaknesses within the organization. While the nonprofit boasts a fully independent board with strong governance practices, it faces significant challenges in financial transparency and program effectiveness.
One notable strength is the nonprofit's governance structure, as it has achieved full points in areas like independent board members, board size, and material diversion of assets. However, the organization has been critiqued for its low program expense ratio, where only 52% of its expenses directly support its programs, suggesting room for improvement in allocating resources more effectively towards its mission.
Additionally, critical policies such as conflict of interest, whistleblower, and document retention policies are missing, which can undermine trust and accountability. The absence of the nonprofit's tax form on its website further highlights the need for enhanced transparency. Overall, while New Canaan Neighborhoods Inc has a solid governance foundation, it must address these weaknesses to build greater trust and efficiency in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is New Canaan Neighborhoods Inc legitimate?
New Canaan Neighborhoods Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Canaan Neighborhoods 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.
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Other Salaries and Wages: $0
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What is the mission statement of New Canaan Neighborhoods Inc?
New Canaan Neighborhoods Inc, as the owner of a general partner interest in a Low-Income Housing Tax Credit real estate project, is committed to contributing to the provision of affordable housing. This involvement in such a project reflects their dedication to supporting individuals with limited financial resources, thereby contributing to a more inclusive and equitable housing landscape. The organization's role in this project underscores its commitment to making a positive impact on the community, specifically in the realm of residential living.
Who is the CEO of New Canaan Neighborhoods Inc?
Christine Hussey is the President of New Canaan Neighborhoods Inc.
What is the revenue of New Canaan Neighborhoods Inc?
New Canaan Neighborhoods Inc's revenue in 2023 was $1,003.
Who are the executives of New Canaan Neighborhoods Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for New Canaan Neighborhoods Inc?
New Canaan Neighborhoods Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of New Canaan Neighborhoods Inc
New Canaan Neighborhoods Inc, as stated in the provided information, is an organization that holds a significant role as the owner of a general partner interest in a Low-Income Housing Tax Credit Real Estate Project. This mission, in essence, involves the development and management of affordable housing units for individuals and families with limited financial resources. By taking on this role, New Canaan Neighborhoods Inc is contributing to the provision of decent and safe living spaces for those in need, thereby promoting social equality and community development. This project not only provides affordable housing but also plays a crucial role in revitalizing neighborhoods and stimulating economic growth in the areas where the projects are located.
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Impact
October, 2024
New Canaan Neighborhoods Inc plays a crucial role in addressing affordable housing needs in Branford, CT, by managing a general partner interest in a low-income housing tax credit real estate project. This involvement not only contributes to the creation and maintenance of affordable housing options but also fosters community development and stability. By ensuring access to quality housing for low-income families, New Canaan Neighborhoods Inc helps to improve the overall well-being of the community, promoting social equity and economic diversity. Furthermore, their focus on affordable housing directly supports the broader mission of enhancing living conditions and reducing homelessness, making a significant impact on the local population.
This information is meant to be a general summary of New Canaan Neighborhoods 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: $1,003
- Gross Receipts: $1,003
Assets and Liabilities:
- Total Assets: $2,762,066
- Total Liabilities: $38,048
- Net Assets: $2,724,018
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Organization Details
Founding Year
1980
Phone
(203) 483-4375Principal Officer
Christine Hussey
Main Address
WESTMOUNT MANAGEMENT INC 36 PARK, BRANFORD, CT, 06405
NTEE Category
Code: L200 - Housing
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