Overview
What is Hope Of Martin Community Development Corporation?
Hope of Martin Community Development Corporation is a vital nonprofit organization situated in Martin, Tennessee. Its primary mission is to offer affordable housing solutions to individuals with limited income. By doing so, it plays a significant role in contributing to the community's overall well-being and social stability. The organization's activities are centered around providing affordable housing, ensuring that low-income residents have access to comfortable living spaces.
Official website here: www.hopeofmartin.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 36%
Hope Of Martin Community Development Corporation has received a low score of 36%, resulting in a Zero-Star out of Four Star rating due to significant performance issues in accountability and finance. Although the organization has achieved a perfect score in certain aspects, such as having a fully independent board and no material diversion of assets, it falls short in critical areas like conflict of interest and whistleblower policies, which it lacks entirely.
The organization shows a concerning financial profile, as indicated by its program expense ratio of only 2.70%. This suggests that a minimal portion of its funds is directed toward its programs, raising questions about its operational effectiveness and service delivery. Additionally, the liabilities to assets ratio of 0.53% contributes to the financial risk, indicating potential challenges in maintaining fiscal stability.
Despite some strong governance aspects, the lack of essential policies and low program expense allocation highlight significant gaps that could affect the trust and effectiveness of the organization. For potential donors and stakeholders, these shortcomings are critical factors to consider when evaluating the charity's overall impact and reliability.
This AI summary has been generated from information found on Charity Navigator.
Is Hope Of Martin Community Development Corporation legitimate?
Hope Of Martin Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hope Of Martin Community Development 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: $35,268
For more financial information, click here
Official website here: www.hopeofmartin.com
What is the mission statement of Hope Of Martin Community Development Corporation?
The Hope Of Martin Community Development Corporation aims to serve a crucial role in addressing housing needs. Their mission is centered around providing affordable housing options for individuals who fall under the low-income bracket. This organization strives to make housing accessible and affordable for this specific demographic, thereby contributing to a more equitable living situation for these individuals. By offering affordable housing, the corporation seeks to alleviate some of the financial burden faced by low-income families, thereby enabling them to focus on other essential aspects of their lives.
Official website here: www.hopeofmartin.com
Who is the CEO of Hope Of Martin Community Development Corporation?
Orrin Cowley Sr is the Board Member of Hope Of Martin Community Development Corporation.
Official website here: www.hopeofmartin.com
What is the revenue of Hope Of Martin Community Development Corporation?
Hope Of Martin Community Development Corporation's revenue in 2021 was -$50,735.
Official website here: www.hopeofmartin.com
Who are the executives of Hope Of Martin Community Development Corporation and what are their salaries?
The average compensation at Hope Of Martin Community Development Corporation during 2021 was $11,756. There are 3 employees at Hope Of Martin Community Development Corporation.
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Official website here: www.hopeofmartin.com
Where can I find the form 990 for Hope Of Martin Community Development Corporation?
Hope Of Martin Community Development Corporation's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.hopeofmartin.com
Learn more at the official website: www.hopeofmartin.com
Mission Statement of Hope Of Martin Community Development Corporation
Hope Of Martin Community Development Corporation is dedicated to serving its community by providing affordable housing options for low-income residents. This nonprofit organization's mission is to make a significant impact on the lives of those in need, ensuring they have access to secure and reasonably priced housing. By offering affordable housing, Hope Of Martin Community Development Corporation strives to improve living conditions, promote stability, and contribute to the well-being of its residents.
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Impact
October, 2024
Hope Of Martin Community Development Corporation plays a vital role in addressing the housing needs of low-income residents in Martin, TN. By focusing on the development and management of affordable housing, it directly contributes to the stability and well-being of families who may otherwise struggle to find safe and secure living conditions. This initiative not only enhances the quality of life for individuals and families but also fosters community development by creating a more inclusive and diverse population. Through its efforts, the organization helps to alleviate housing insecurity, ensuring that residents have access to essential resources and opportunities for growth within the community.
This information is meant to be a general summary of Hope Of Martin Community Development 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 2021.
- Investment Income: $38
- Gross Receipts: $129,596
Assets and Liabilities:
- Total Assets: $2,229,516
- Total Liabilities: $11,898
- Net Assets: $2,217,618
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Organization Details
Founding Year
2004
Principal Officer
Orrin Cowley Sr
Main Address
327E N MCCOMBS ST, MARTIN, TN, 38237
Website
www.hopeofmartin.comNTEE Category
Code: L20 - Housing
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