Overview
What is Bath Housing Development Corporation?
Bath Housing Development Corporation, situated in Bath, Maine, is a dedicated nonprofit organization. Its primary mission is to enhance housing opportunities for low-income individuals and families. This involves the development, improvement, and management of 175 multi-family apartments, all in line with its charitable objectives. The corporation also provides affordable financial and technical assistance to low-income homeowners, aiming to promote their social and economic stability. Moreover, it implements programs intended to foster growth and general welfare in the Bath, Maine region. In summary, Bath Housing Development Corporation is committed to improving housing conditions and promoting economic well-being for low-income residents in its community.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 94%, Four-Star out of Four Star rating.
Bath Housing Development Corporation has received a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored 94% in this area, indicating robust financial practices and transparency. This rating is particularly significant as it is based entirely on the Accountability & Finance beacon, showcasing the nonprofit's commitment to ethical governance.
The organization boasts an independent board with 100% of its members being independent, which enhances its credibility and decision-making integrity. Key policies such as conflict of interest, whistleblower protection, and document retention are in place, further demonstrating its adherence to best practices. The financial statements are audited, and there are no reported diversions of assets, which reinforces trust in the organization's financial integrity.
Despite its strengths, the summary does not highlight specific programmatic outcomes or community impact metrics, which could provide a fuller picture of the corporation's effectiveness in fulfilling its mission. Nevertheless, the high program expense ratio of 89.21% suggests that a significant portion of funds is directed towards programs rather than administrative costs, indicating a focus on achieving its objectives.
This AI summary has been generated from information found on Charity Navigator.
Is Bath Housing Development Corporation legitimate?
Bath Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bath 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: $247,503
For more financial information, click here
What is the mission statement of Bath Housing Development Corporation?
The Bath Housing Development Corporation is committed to promoting and advancing the development of affordable housing projects and related facilities primarily for low-income individuals and families. They offer affordable financial and technical assistance and services to low-income homeowners. The organization implements programs aimed at enhancing the social and economic stability of low-income families. Their mission also includes promoting the common good and general welfare of their community. In essence, Bath Housing Development Corporation works towards providing affordable housing solutions and supporting the well-being of low-income families.
Who is the CEO of Bath Housing Development Corporation?
Debora Keller is the Chair of Bath Housing Development Corporation.
What is the revenue of Bath Housing Development Corporation?
Bath Housing Development Corporation's revenue in 2022 was $2,857,692.
Who are the executives of Bath Housing Development Corporation and what are their salaries?
There 15 volunteers at Bath Housing Development Corporation.
Here are 10 key members and their salaries:
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- Related: $108,202
- Other: $20,065
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Where can I find the form 990 for Bath Housing Development Corporation?
Bath Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bath Housing Development Corporation
Bath Housing Development Corporation is dedicated to fostering and encouraging the development of affordable housing projects and related facilities for primarily low-income individuals and families. The organization actively participates in financing, owning, operating, promoting, and advancing these housing projects to improve living conditions for those in need. Additionally, Bath Housing Development Corporation provides affordable financial and technical assistance and services to low-income homeowners. By implementing programs aimed at enhancing social and economic stability for low-income families, the corporation works towards promoting the common good and general welfare of its inhabitants. In essence, Bath Housing Development Corporation's mission is to improve the living situations of low-income individuals and families, offering them affordable housing options and financial assistance to build a stable future.
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Impact
October, 2024
Bath Housing Development Corporation plays a crucial role in enhancing housing accessibility and stability for low-income individuals and families in the Bath, Maine region. By fostering and promoting the development of affordable housing projects, the organization directly addresses the significant need for accessible living spaces.
With ownership of 175 multi-family apartments, it not only provides essential rental options but also effectively manages these properties to ensure they meet the needs of the community. Furthermore, Bath Housing Development Corporation offers affordable financial and technical assistance, helping low-income homeowners navigate the challenges of homeownership and maintenance.
The organization implements programs aimed at promoting social and economic stability, which contribute to the overall quality of life for residents. By focusing on the common good and welfare of the community, it actively enhances the social fabric of the area, supports sustainable living environments, and fosters a sense of belonging among its inhabitants. Overall, Bath Housing Development Corporation's impact is significant, as it not only addresses immediate housing needs but also contributes to long-term community well-being and resilience.
This information is meant to be a general summary of Bath 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 2022.
- Investment Income: $23,396
- Program Service Revenue: $1,943,179
- Gross Receipts: $3,844,881
Assets and Liabilities:
- Total Assets: $12,423,196
- Total Liabilities: $4,071,584
- Net Assets: $8,351,612
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$1,887,893
RENT FROM AFFILIATE
Revenue
$30,840
LAUNDRY/MISCELLANEOUS
Revenue
$24,446
Organization Details
Founding Year
1984
Phone
(207) 443-3116Principal Officer
Debora Keller
Main Address
80 CONGRESS AVENUE, BATH, ME, 04530
NTEE Category
Code: L20Z - Housing
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