Providence Lyons Housing Development Fund Company Inc

Charity Navigator Rating: 60%, Two-Star out of Four Star rating.

Providence Lyons Housing Development Fund Company Inc has received a Two-Star rating from Charity Navigator, indicating some concerns regarding its accountability and financial performance. The organization scored 60% overall, reflecting a need for improvements in governance practices, particularly in the independence of its board members, where only 37% are independent. However, it does have a sufficient number of independent members, demonstrating some strength in governance.

The organization has solid policies in place, including a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, all of which were positively noted in their evaluation. They also successfully documented board meeting minutes and listed their website on their tax forms, showcasing transparency in certain areas. However, the absence of the tax form on the nonprofit's website may raise concerns about accessibility and transparency for stakeholders.

Despite these positive aspects, the organization faces significant challenges, particularly in financial health, as indicated by a liabilities to assets ratio of 99.60%. Furthermore, their program expense ratio of 60.76% suggests that a relatively low portion of their budget is being allocated directly to programs, which may limit the impact of their services. Overall, while there are strengths in policy and governance, improvements are needed in financial management and transparency to enhance their rating and public trust.

This AI summary has been generated from information found on Charity Navigator.

Providence Lyons Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Providence Lyons Housing Development Fund Company Inc 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: $14,103

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Official website here: www.cccsrochester.org