Overview
What is Monterey County Housing Authority Development Corporation?
Monterey County Housing Authority Development Corporation is a nonprofit organization committed to addressing housing needs for low-, very low-, and moderate-income families. Their mission encompasses acquiring, rehabilitating, developing, and operating affordable housing units. Recognizing the lack of suitable housing options for these income groups, they provide related services to bridge this gap. Their efforts extend to collaborating with various political subdivisions, such as the Housing Authority of Monterey County, and nonprofit corporations exempt from federal tax under Section 501(c)(3) of the Code or its successor provision. The organization's charitable activities are oriented towards these objectives, as permitted by law.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: One-Star out of Four Stars (53%).
The Monterey County Housing Authority Development Corporation has received a one-star rating due to a low overall score of 53%. While the organization boasts a fully independent board, scoring full points in that area, it falls short in financial accountability, particularly with the absence of financial statements. The organization has also not provided a website on its tax form, which has contributed to its low score in transparency.
The nonprofit demonstrates some strengths, such as a solid track record of no material diversion of assets and the presence of conflict of interest and whistleblower policies. Additionally, the liabilities to assets ratio is favorable at 39.71%. However, significant weaknesses in the program expense ratio, which stands at only 52.54%, indicate that a majority of its resources are not being directed toward its programs.
Overall, while the Monterey County Housing Authority Development Corporation has established a competent governance structure, its financial transparency and allocation of resources towards its mission require substantial improvement for a stronger rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Monterey County Housing Authority Development Corporation legitimate?
Monterey County Housing Authority Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Monterey County Housing Authority 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: $181,286
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Monterey County Housing Authority Development Corporation?
The Monterey County Housing Authority Development Corporation is dedicated to addressing the housing needs of low-, very low-, and moderate-income families. They accomplish this by acquiring, rehabilitating, developing, owning, and operating affordable housing units. Their mission extends beyond just housing, as they also provide related services when there's a shortage of adequate housing for these income groups. This organization operates with a charitable intent, collaborating with various entities, including government bodies and non-profit organizations, to fulfill its objectives. It's important to note that they also engage in other charitable activities, as permitted by law, to further support their goals.
Who is the CEO of Monterey County Housing Authority Development Corporation?
Zulieka Boykin is the Vice-Chair Of The Board of Monterey County Housing Authority Development Corporation.
What is the revenue of Monterey County Housing Authority Development Corporation?
Monterey County Housing Authority Development Corporation's revenue in 2022 was $2,516,931.
Who are the executives of Monterey County Housing Authority Development Corporation and what are their salaries?
The average compensation at Monterey County Housing Authority Development Corporation during 2022 was $25,898. There are 7 employees at Monterey County Housing Authority Development Corporation.
Here are 8 key members and their salaries:
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- Compensation: $181,286
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Where can I find the form 990 for Monterey County Housing Authority Development Corporation?
Monterey County Housing Authority Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Monterey County Housing Authority Development Corporation
Monterey County Housing Authority Development Corporation, a nonprofit organization, is committed to addressing the housing needs of low-income, very low-income, and moderate-income families. Their mission involves acquiring, rehabilitating, developing, and operating affordable housing units where such housing is inadequate or lacking. Their primary goal is to provide these essential living spaces for these income groups. Alongside housing, the corporation also offers related services to ensure a comprehensive approach to addressing housing needs. They collaborate with various political subdivisions and nonprofit corporations, providing charitable activities in line with their objectives, as permitted by law.
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Impact
October, 2024
Monterey County Housing Authority Development Corporation plays a vital role in addressing the critical need for affordable housing in the region. By acquiring, rehabilitating, developing, and operating affordable housing, it directly combats housing shortages faced by low-, very low-, and moderate-income households.
The organization focuses on areas where inadequate housing exists, ensuring that vulnerable populations have access to safe and stable living conditions. In addition to housing development, it provides essential related services that enhance the well-being of residents, contributing to healthier, more integrated communities.
By partnering with local housing authorities and political subdivisions, the corporation reinforces its impact, facilitating collaborative efforts to tackle housing challenges in Monterey County and beyond. Through these initiatives, it not only works to improve living conditions but also fosters economic stability and social equity for families in need.
This information is meant to be a general summary of Monterey County Housing Authority 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 2022.
- Program Service Revenue: $1,398,236
- Gross Receipts: $2,516,931
Assets and Liabilities:
- Total Assets: $82,646,561
- Total Liabilities: $44,890,335
- Net Assets: $37,756,226
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM INVESTMENT INC
Revenue
$609,986
GROSS RENTAL INCOME
Revenue
$513,173
OTHER TENANT CHARGES
Revenue
$275,077
Organization Details
Founding Year
2005
Phone
(831) 775-5000Principal Officer
Zulieka Boykin
Main Address
123 RICO STREET, SALINAS, CA, 93907
NTEE Category
Code: L20 - Housing
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