Overview
What is Casa Otonal Housing Corporation?
Casa Otonal Housing Corporation is a not-for-profit organization established in Connecticut in 1981. Its primary mission involves operating a 103-unit apartment complex situated in New Haven, Connecticut. The organization's activities are regulated by the U.S. Department of Housing and Urban Development (HUD) with regard to rental charges and operating methods. Casa Otonal also adheres to Section 8 Housing Assistance Payment agreements with HUD, and a significant portion of its income derives from these agreements. The organization's goal is to provide affordable housing, ensuring that its residents can afford their rent comfortably.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, earning a Two-Star out of Four Star rating
Casa Otonal Housing Corporation has received a Two-Star rating from Charity Navigator, indicating some areas of strength but also significant concerns. The organization has a high program expense ratio of 92.62%, reflecting a strong commitment to directing funds towards its mission. Additionally, it has an independent board with 75% of its members being independent, which is a positive aspect of its governance structure.
However, the organization shows several weaknesses in accountability and financial practices. Notably, it lacks a whistleblower policy and a document retention policy, which could pose risks regarding transparency and ethical governance. Moreover, the liabilities to assets ratio is concerning at 130.80%, suggesting potential financial instability.
Overall, while Casa Otonal Housing Corporation demonstrates a commitment to its programs and has a well-structured board, the identified gaps in policies and financial management highlight areas that need improvement to enhance its accountability and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Casa Otonal Housing Corporation legitimate?
Casa Otonal Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Casa Otonal Housing Corporation 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 Casa Otonal Housing Corporation?
Casa Otonal Housing Corporation is a non-profit organization established under Connecticut's laws in 1981. Its primary activity involves managing a 103-unit apartment complex, overseen by the U.S. Department of Housing and Urban Development (HUD) in terms of rental charges and operational methods. The project also falls under Section 8 Housing Assistance Payment agreements with HUD, and the organization derives a significant portion of its income from HUD. While the provided information does not explicitly detail a mission statement, it implies that Casa Otonal Housing Corporation's mission is to provide affordable housing and manage its facilities in accordance with HUD regulations, thereby serving the needs of its residents.
What is the revenue of Casa Otonal Housing Corporation?
Casa Otonal Housing Corporation's revenue in 2024 was $2,335,824.
Who are the executives of Casa Otonal Housing Corporation and what are their salaries?
There 3 volunteers at Casa Otonal Housing Corporation.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $120,000
- 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
Where can I find the form 990 for Casa Otonal Housing Corporation?
Casa Otonal Housing Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Casa Otonal Housing Corporation
Casa Otonal Housing Corporation is a not-for-profit organization established under the laws of Connecticut in 1981. Its primary mission involves operating a 103-unit apartment complex, overseen by the US Department of Housing and Urban Development (HUD), with regulations governing rental charges and operating methods. The organization also manages Section 8 Housing Assistance Payments agreements with HUD, and a significant portion of its income is derived from these arrangements. In essence, Casa Otonal Housing Corporation plays a crucial role in providing affordable housing for its residents, adhering to the guidelines set by the HUD.
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Impact
July, 2024
Casa Otonal Housing Corporation provides affordable housing opportunities to residents in New Haven, Connecticut through its operation of a 103-unit apartment complex. The organization is regulated by the US Department of Housing and Urban Development (HUD) and participates in Section 8 housing assistance payments agreements. By offering affordable housing options, Casa Otonal contributes to the community's efforts to address housing insecurity and improve the overall quality of life for its residents.
This information is meant to be a general summary of Casa Otonal Housing Corporation. 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: $24,847
- Program Service Revenue: $471,145
- Gross Receipts: $2,335,824
Assets and Liabilities:
- Total Assets: $4,525,914
- Total Liabilities: $5,920,091
- Net Assets: -$1,394,177
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE
Revenue
$471,145
Organization Details
Founding Year
1981
Principal Officer
Elmer Rivera Bello
NTEE Category
Code: L21Z - Housing
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