Overview
What is Allies & Ross Management And Development Corporation?
Allies & Ross Management And Development Corporation is a nonprofit organization based in Pittsburgh, Pennsylvania, established by the Housing Authority of the City of Pittsburgh (HACP) to engage in and develop mixed financing transactions. They receive grants from HACP and subsequently provide short-term and long-term loans to limited partnerships to create low-income housing units. In line with HACP's mission, Allies & Ross works toward providing safe, decent, and affordable housing opportunities within Pittsburgh.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52%, One-Star out of Four Stars
Allies & Ross Management And Development Corporation received a low rating of 52% from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The organization lacks majority independent board members, demonstrating a potential conflict of interest in governance, and scored poorly in several areas related to financial transparency, such as having financial statements readily available.
Despite these weaknesses, the nonprofit did excel in some financial metrics, notably achieving a perfect score in its liabilities to assets ratio and program expense ratio. This suggests that while the organization may be facing governance and transparency issues, it is effectively managing its resources relative to its programs. However, the lack of necessary policies and documentation raises questions about its operational integrity.
Overall, the low rating reflects critical areas for improvement, particularly in governance and transparency, which are essential for building trust with donors and stakeholders. Addressing these issues will be crucial for the organization to enhance its credibility and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Allies & Ross Management And Development Corporation legitimate?
Allies & Ross Management And Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Allies & Ross Management And 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: $156,838
For more financial information, click here
What is the mission statement of Allies & Ross Management And Development Corporation?
Allies & Ross Management And Development Corporation is dedicated to providing housing opportunities and related activities by collaborating in mixed finance transactions with housing authorities. The corporation was established to receive grants from housing authorities and, in turn, offer short- and long-term loans to partnerships for the creation of affordable housing units. Allies & Ross's mission aligns with the purpose of housing authorities, which is to provide safe, decent, and affordable housing for their communities. By participating in these transactions, the corporation aims to expand the reach and impact of the housing authority's mission.
Who is the CEO of Allies & Ross Management And Development Corporation?
Bernie Mcginley is the Secretary of Allies & Ross Management And Development Corporation. The CEO's salary of Allies & Ross Management And Development Corporation is $0 and their total compensation is $296,624.
What is the revenue of Allies & Ross Management And Development Corporation?
Allies & Ross Management And Development Corporation's revenue in 2022 was $32,323,067.
Who are the executives of Allies & Ross Management And Development Corporation and what are their salaries?
Here are 6 key members and their salaries (Allies & Ross Management And Development Corporation's CEO's salary is $0 and their total compensation is $296,624):
- Compensation: $0
- Related: $58,911
- Other: $14,069
- Compensation: $0
- Related: $256,696
- Other: $39,928
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $153,559
- Other: $12,916
- Compensation: $0
- Related: $148,464
- Other: $39,226
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Allies & Ross Management And Development Corporation?
Allies & Ross Management And Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Allies & Ross Management And Development Corporation
Allies & Ross Management and Development Corporation is a mission-driven organization established by the Housing Authority of the City of Pittsburgh (HACP) to engage in mixed finance transactions. The corporation's primary objective is to provide housing opportunities and related activities by collaborating with HACP. By receiving grants from HACP, Allies & Ross in turn offers short and long-term loans to limited partnerships, enabling the creation of low-income housing units. The corporation's ultimate goal aligns with HACP's mission of supplying safe, decent, and affordable housing within the city.
Allies & Ross Management and Development Corporation was specifically designed to further HACP's objectives through the execution of mixed financing transactions. Through this collaborative approach, the corporation plays a vital role in expanding the availability of affordable housing units within the city. By utilizing a grant-for-loan model, Allies & Ross is able to help HACP in its mission to enhance the living conditions for residents in need. The organization's work contributes significantly to the overall goal of improving the quality of life for low-income individuals in the community.
The partnership between Allies & Ross Management and Development Corporation and the Housing Authority of the City of Pittsburgh is a powerful alliance, as they work together to address the housing needs of the community. Allies & Ross's role in providing short and long-term loans to limited partnerships for the creation of low-income housing units is a crucial aspect of their mission. This innovative financing approach allows for the development of more affordable housing units, which is essential in creating a thriving and inclusive community.
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Impact
August, 2024
Allies & Ross Management And Development Corporation's impact lies in providing housing opportunities and related activities through participating in mixed finance transactions with the Housing Authority of the City of Pittsburgh. By receiving grants from HACP and providing short and long-term loans to limited partnerships for the creation of low-income housing units, Allies & Ross plays a crucial role in furthering HACP's mission of offering safe, decent, and affordable housing within the city. Their work directly contributes to addressing the housing needs of low-income individuals and families, ultimately enhancing the overall community's well-being.
This information is meant to be a general summary of Allies & Ross Management And 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.
- Investment Income: $1,186,966
- Program Service Revenue: $4,431,847
- Gross Receipts: $32,323,067
Assets and Liabilities:
- Total Assets: $281,674,353
- Total Liabilities: $416,061
- Net Assets: $281,258,292
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SOFT INTEREST ACCRUAL
Revenue
$3,752,190
OTHER DEVELOPMENT INCOME
Revenue
$388,087
HARD INTEREST REVENUE
Revenue
$291,570
Organization Details
Founding Year
2007
Phone
(412) 456-5022Principal Officer
Bernie Mcginley
Main Address
412 BOULEVARD OF THE ALLIES, PITTSBURGH, PA, 15219
NTEE Category
Code: L20 - Housing
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