Overview
What is Connecticut Housing And Development Corp?
Connecticut Housing and Development Corp, commonly known as CHADCO, is a nonprofit organization based in Hartford, Connecticut. Their primary mission is to develop affordable housing for individuals with low to moderate income, aiming to promote social welfare and lessen the burden on government. They conduct activities related to neighborhood and community revitalization, aiming to combat community deterioration, reduce neighborhood tensions, and provide relief for the poor and distressed. CHADCO operates under the name "CHADCO" and is committed to its mission in Connecticut.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Star rating)
Connecticut Housing And Development Corp, also known as Chadco, has received an 86% rating on Charity Navigator, which translates to a Three-Star rating. This rating reflects strong accountability and financial practices, as the organization scored 100% in several key areas, including the independence of its board members and its financial oversight. The absence of asset diversion and a documented conflict of interest policy further enhance the organization's credibility.
Chadco's financial health appears robust, demonstrated by a low liabilities to assets ratio of 2.89% and a program expense ratio of 100%, indicating that all resources are being directed toward its programs. The independent board is composed entirely of members with no conflicts of interest, which is a positive sign for governance and decision-making.
While the rating is commendable, it is based solely on accountability and finance beacons, meaning it does not reflect other potential performance areas such as program effectiveness or community impact. Prospective donors and stakeholders may wish to explore these aspects further to gain a comprehensive understanding of Chadco's overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Connecticut Housing And Development Corp legitimate?
Connecticut Housing And Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Connecticut Housing And Development 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: $0
For more financial information, click here
What is the mission statement of Connecticut Housing And Development Corp?
Connecticut Housing and Development Corp, doing business as CHADCO, is committed to developing affordable housing options for low to moderate-income individuals. This mission aims to promote social welfare and alleviate government burden. Beyond housing development, CHADCO engages in activities aimed at neighborhood and community revitalization. These activities are designed to combat community deterioration, reduce neighborhood tensions, and provide relief for the poor, distressed, or underprivileged individuals.
Who is the CEO of Connecticut Housing And Development Corp?
Annette Sanderson is the President of Connecticut Housing And Development Corp.
What is the revenue of Connecticut Housing And Development Corp?
Connecticut Housing And Development Corp's revenue in 2022 was $2,009,615.
Who are the executives of Connecticut Housing And Development Corp and what are their salaries?
There 5 volunteers at Connecticut Housing And Development Corp.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $210,115
- Other: $35,940
- 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 Connecticut Housing And Development Corp?
Connecticut Housing And Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Connecticut Housing And Development Corp
Connecticut Housing and Development Corp Dba Chadco, as a nonprofit organization, is dedicated to developing affordable housing for individuals with low to moderate income in Connecticut. This mission is aimed at promoting social welfare and lessening the government burden. By constructing affordable housing, the organization seeks to provide a decent living space for those who may not otherwise be able to afford it. This initiative not only benefits the individuals directly by reducing their financial burden, but it also contributes to the overall well-being of the community.
In addition to building affordable housing, Connecticut Housing and Development Corp Dba Chadco also engages in activities related to neighborhood and community revitalization. These efforts are designed to combat community deterioration, lessen neighborhood tensions, and provide relief for the poor and distressed or underprivileged. By revitalizing neighborhoods, the organization aims to create safer, more livable communities for all residents. This holistic approach to affordable housing and community development reflects Connecticut Housing and Development Corp Dba Chadco's commitment to improving the lives of low to moderate income individuals and promoting social welfare in Connecticut.
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Impact
October, 2024
Connecticut Housing And Development Corp significantly impacts the state by developing affordable housing for low to moderate-income individuals and families. By addressing the pressing need for accessible housing, it promotes social welfare and alleviates the burdens on government resources. The organization focuses on revitalizing neighborhoods and communities, combating deterioration, and reducing tensions within local areas. Its efforts provide essential support to underprivileged populations, offering them relief and stability. Overall, the work of Connecticut Housing And Development Corp fosters a healthier, more equitable living environment in Connecticut, enhancing community cohesion and improving quality of life for many residents.
This information is meant to be a general summary of Connecticut Housing And Development 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.
- Program Service Revenue: $1,042,822
- Gross Receipts: $2,009,615
Assets and Liabilities:
- Total Assets: $27,862,878
- Total Liabilities: $806,826
- Net Assets: $27,056,052
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,042,822
Organization Details
Founding Year
2018
Phone
(860) 723-8413Principal Officer
Annette Sanderson
Main Address
180 JOHN D WARDLAW WAY, HARTFORD, CT, 06106
NTEE Category
Code: L20 - Housing
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