Overview
What is Building Dreams Inc?
Building Dreams Inc, situated in Louisville, Kentucky, is a dedicated nonprofit organization. Their primary mission is to offer housing solutions for individuals with intellectual disabilities. Residents contribute towards rent, and the organization also receives subsidies from HUD. This housing initiative aims to provide a secure living environment for those in need, contributing positively to their overall well-being and independence.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Stars
Building Dreams Inc has achieved a commendable overall score of 94%, reflecting strong performance in accountability and finance. The charity’s Four-Star rating indicates a high level of transparency and effective management, essential for fostering donor trust. This score is entirely derived from metrics related to financial health and governance practices, demonstrating a robust organizational structure.
One of the organizational strengths includes a majority of independent board members, with 92% of its board comprising independent members. This independence contributes to effective oversight and governance, further bolstered by the absence of any material diversion of assets. The charity also maintains well-documented policies, including conflict of interest, whistleblower, and document retention policies, all of which score perfectly, highlighting its commitment to ethical practices.
The financial metrics are equally impressive, with a liabilities to assets ratio of just 0.68%, suggesting strong financial stability. Additionally, a program expense ratio of 76.84% indicates that a significant portion of its funding is directed towards programs rather than administrative costs. Overall, Building Dreams Inc demonstrates a solid commitment to accountability and effective financial management, although specific programmatic outcomes or impact evaluations are not discussed in the provided data.
This AI summary has been generated from information found on Charity Navigator.
Is Building Dreams Inc legitimate?
Building Dreams Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Building Dreams 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:
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For more financial information, click here
What is the mission statement of Building Dreams Inc?
Building Dreams Inc is committed to providing housing solutions for individuals with intellectual disabilities. Their mission is centered around ensuring that these individuals have a place to call home. The organization achieves this by offering housing, with rental income being paid by the residents and subsidies received from HUD. This housing initiative aims to provide a safe and supportive living environment for individuals with intellectual disabilities, enabling them to lead fulfilling lives. The organization's work contributes to promoting independence and inclusivity, ensuring that these individuals can actively participate in their communities.
Who is the CEO of Building Dreams Inc?
Jenifer Frommeyer is the Director of Building Dreams Inc.
What is the revenue of Building Dreams Inc?
Building Dreams Inc's revenue in 2023 was $53,628.
Who are the executives of Building Dreams Inc and what are their salaries?
There 15 volunteers at Building Dreams Inc.
Here are 15 key members and their salaries:
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- Related: $81,927
- Other: $10,526
Where can I find the form 990 for Building Dreams Inc?
Building Dreams Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Building Dreams Inc
Building Dreams Inc, as its mission statement suggests, is dedicated to providing housing for individuals living with intellectual disabilities. This mission is carried out by offering accommodation that caters to this specific group of people. The residents of these homes contribute to the cost through rental payments, while subsidies are also received from the HUD (Housing and Urban Development) to make the housing more affordable. By providing such housing, Building Dreams Inc aims to contribute positively to the lives of individuals with intellectual disabilities, enabling them to live independently and with dignity.
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Impact
August, 2024
Building Dreams Inc provides vital housing for individuals with intellectual disabilities in Louisville, KY. Through their initiative, individuals in need are given a safe and secure place to live, fostering independence and a sense of community. This organization's impact extends beyond providing physical shelter; it offers residents a supportive environment where they can thrive and lead fulfilling lives. With the help of rental income from residents and subsidies from HUD, Building Dreams Inc is able to continue fulfilling its mission of providing housing for those who need it most. By focusing on this specific demographic, Building Dreams Inc is making a significant difference in the lives of individuals with intellectual disabilities, enhancing their quality of life and promoting inclusivity within the community.
This information is meant to be a general summary of Building Dreams Inc. 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: $5
- Program Service Revenue: $48,048
- Gross Receipts: $53,628
Assets and Liabilities:
- Total Assets: $777,144
- Total Liabilities: $5,292
- Net Assets: $771,852
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
APARTMENT RENTALS
Revenue
$48,048
Organization Details
Founding Year
2007
Phone
(502) 459-4647Principal Officer
Jenifer Frommeyer
Main Address
1579 BARDSTOWN ROAD, LOUISVILLE, KY, 40205
NTEE Category
Code: L21 - Housing
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