Overview
What is South Portland Housing Development Corp?
South Portland Housing Development Corp is a nonprofit organization that is dedicated to addressing the housing needs of low-income individuals, including the elderly and handicapped, as well as families. Their primary mission is to develop and manage projects that aim to provide affordable housing solutions. By doing so, they contribute to the community by ensuring that a diverse range of people have access to safe and comfortable living spaces. Their work is centered around the creation of affordable housing, which is a crucial aspect of sustaining a healthy and inclusive society.
What are the reviews and ratings of this charity?
Charity Navigator Rating 90% - Four-Star out of Four Star Rating
South Portland Housing Development Corp has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial health. The organization scored 90% overall, with its performance entirely based on the Accountability & Finance beacon, indicating a robust operational framework.
The nonprofit boasts a fully independent board, with 100% of its 14 members being independent, which contributes positively to its governance. It excels in financial oversight, demonstrated by a perfect score for its audit and oversight practices, alongside a commendable program expense ratio of 96.63%, showing that the majority of its funds are directed towards its mission-driven programs.
No significant limitations were noted in the feedback, as the organization has effectively maintained policies around conflict of interest and document retention. The absence of any material diversion of assets further solidifies its reputation for integrity and sound financial management.
This AI summary has been generated from information found on Charity Navigator.
Is South Portland Housing Development Corp legitimate?
South Portland Housing Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. South Portland Housing Development Corp 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: $264,855
For more financial information, click here
What is the mission statement of South Portland Housing Development Corp?
South Portland Housing Development Corporation's mission is centered around creating affordable housing solutions. This non-profit organization focuses on developing and managing projects to provide accommodations for individuals who are elderly, handicapped, and families with low income. Their goal is to make housing accessible for these groups, contributing to a more inclusive and equitable living environment.
Who is the CEO of South Portland Housing Development Corp?
Mike Hulsey is the President of South Portland Housing Development Corp.
What is the revenue of South Portland Housing Development Corp?
South Portland Housing Development Corp's revenue in 2022 was $2,010,924.
Who are the executives of South Portland Housing Development Corp and what are their salaries?
Here are 14 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for South Portland Housing Development Corp?
South Portland Housing Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of South Portland Housing Development Corp
South Portland Housing Development Corporation, as a nonprofit organization, is dedicated to creating affordable housing solutions for vulnerable populations. Its mission encompasses developing and managing projects to provide low-income housing for the elderly, handicapped, and families. The corporation's primary focus is on addressing the housing needs of these groups, working tirelessly to ensure that they have access to safe and affordable living spaces. By doing so, South Portland Housing Development Corporation contributes significantly to the well-being and stability of these communities, enabling individuals to live with dignity and independence.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
South Portland Housing Development Corp plays a vital role in addressing the housing needs of vulnerable populations in South Portland, Maine. By developing and managing low-income housing projects, it provides essential living spaces for the elderly, individuals with disabilities, and families facing financial hardships. This organization focuses on creating affordable housing solutions, which significantly impacts community stability and enhances the quality of life for residents. Through its initiatives, South Portland Housing Development Corp contributes to reducing homelessness, fostering inclusivity, and promoting economic security for those who might otherwise struggle to find suitable housing.
This information is meant to be a general summary of South Portland Housing Development Corp. 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: -$18,473
- Program Service Revenue: $1,261,069
- Gross Receipts: $2,920,326
Assets and Liabilities:
- Total Assets: $9,180,721
- Total Liabilities: $2,671,516
- Net Assets: $6,509,205
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPMENT FEE INCOME
Revenue
$540,844
RENTAL INCOME
Revenue
$297,777
SERVICE INCOME
Revenue
$266,210
MANAGEMENT FEE INCOME
Revenue
$63,487
LAND LEASE INCOME
Revenue
$48,023
Organization Details
Founding Year
1986
Phone
(207) 773-4140Principal Officer
Mike Hulsey
Main Address
100 WATERMAN DRIVE SUITE 101, SOUTH PORTLAND, ME, 04106
NTEE Category
Code: L22 - Housing
If you are a representative of South Portland Housing Development Corp and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.