Overview
What is Auburn Housing Development Corporation?
Auburn Housing Development Corporation, located in Auburn, Maine, is a dedicated nonprofit organization with a primary mission to develop and manage affordable housing for low-income tenants. With a modest workforce of one individual, this organization's purpose is to ensure affordable housing becomes a reality for those in need. Their activities and mission are centered around providing suitable housing solutions, thereby contributing positively to their community's social fabric.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (63%, Two-Star out of Four Star rating)
The Auburn Housing Development Corporation has received a Two-Star rating from Charity Navigator, indicating that there are significant areas requiring attention. While the organization scored 100% in Accountability & Finance, highlighting strong governance practices such as a majority independent board, it also faced notable deficiencies in its operational policies. Specifically, it has not established a conflict of interest policy, whistleblower policy, or document retention and destruction policy, which are critical for transparency and ethical governance.
The organization demonstrates effective program expense management, achieving a 100% score in this area, signifying that all resources are directed towards its mission-related activities. However, the liabilities to assets ratio of 62.90% suggests potential financial stress, as the organization may be encumbered by significant debts relative to its assets. This aspect could raise concerns for potential donors regarding the long-term sustainability of its operations.
Overall, while the Auburn Housing Development Corporation showcases strong accountability measures and efficient program spending, the lack of essential policies and a high liabilities-to-assets ratio are significant limitations that may affect its overall performance and donor confidence. Addressing these issues could enhance its rating and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Auburn Housing Development Corporation legitimate?
Auburn Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Auburn Housing 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: $33,326
For more financial information, click here
What is the mission statement of Auburn Housing Development Corporation?
The Auburn Housing Development Corporation's mission is centered around providing affordable housing solutions. This organization is committed to serving low-income tenants, striving to meet their housing needs effectively. In practical terms, this involves developing and managing affordable housing properties to cater to this specific demographic. The corporation's mission is a crucial contribution to ensuring that everyone, regardless of income level, has access to adequate housing.
Who is the CEO of Auburn Housing Development Corporation?
Marty Szydlowski is the Director of Auburn Housing Development Corporation.
What is the revenue of Auburn Housing Development Corporation?
Auburn Housing Development Corporation's revenue in 2023 was $114,726.
Who are the executives of Auburn Housing Development Corporation and what are their salaries?
The average compensation at Auburn Housing Development Corporation during 2023 was $33,326. There is 1 employee at Auburn Housing Development Corporation.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Auburn Housing Development Corporation?
Auburn Housing Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Auburn Housing Development Corporation
Auburn Housing Development Corporation is dedicated to providing affordable housing solutions for individuals with limited income. Their mission is multifaceted, involving not only the development but also the management of affordable housing units. By taking on this responsibility, the corporation aims to contribute positively to the housing needs of its low-income tenant base.
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Impact
October, 2024
Auburn Housing Development Corporation plays a crucial role in addressing the affordable housing crisis in Auburn, Maine. By developing and managing affordable housing units, the corporation directly supports low-income tenants, providing them with safe and stable living conditions. This initiative not only helps to improve the quality of life for residents but also fosters a sense of community and belonging among those who may otherwise struggle to find suitable housing.
The impact of the corporation extends beyond individual tenants; by contributing to the availability of affordable housing in the area, it aids in the broader economic stability of the community. More affordable housing options can help reduce homelessness, stabilize neighborhoods, and support local economies. The corporation’s efforts ensure that low-income families and individuals have access to decent living environments, which is essential for their overall well-being and development.
This information is meant to be a general summary of Auburn Housing 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 2023.
- Investment Income: $1,265
- Program Service Revenue: $113,461
- Gross Receipts: $114,726
Assets and Liabilities:
- Total Assets: $929,324
- Total Liabilities: $584,621
- Net Assets: $344,703
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PASS-THROUGH INCOME FR
Revenue
$84,662
COMMERCIAL RENTAL INCO
Revenue
$28,799
Organization Details
Founding Year
2006
Phone
(207) 784-7351Principal Officer
Marty Szydlowski
Main Address
PO BOX 3037, AUBURN, ME, 042123037
NTEE Category
Code: L20 - Housing
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