Overview
What is Worcester Comm Housing Resource Inc?
Worcester Comm Housing Resource Inc is a dedicated nonprofit organization based in Worcester, Massachusetts, specifically at 11 Pleasant Street 300. Their primary mission is to provide affordable housing options for low-income individuals and families, as well as revitalize neglected properties in underprivileged neighborhoods within the Greater Worcester area. The organization accomplishes this by actively developing their own projects and providing financial assistance to other affordable housing developers through their Loan Fund. Established in 1994, Worcester Community Housing Resources has been successful in fulfilling its mission and continues to strive towards creating and preserving affordable housing, subsequently improving the overall quality of life in the community. The organization employs a total of 12 individuals in their mission.
Official website here: www.wchr.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
Worcester Comm Housing Resource Inc has received an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization excels in several key areas, including having a fully independent board and effective oversight, which contributes to its high accountability score of 96%. This rating indicates a strong level of transparency and responsible management of resources.
The nonprofit demonstrates a commitment to efficient use of funds, with an outstanding program expense ratio of 93.56%, suggesting that a significant portion of its budget is directed towards its core mission. Additionally, the organization has established comprehensive policies regarding conflicts of interest, whistleblowing, and document retention, further reinforcing its dedication to ethical operations.
While the organization shows excellent financial health and governance, specific details about its impact and outcomes on the community it serves were not highlighted. However, the financial and operational strengths position Worcester Comm Housing Resource Inc as a reliable charity in the housing resource sector.
This AI summary has been generated from information found on Charity Navigator.
Is Worcester Comm Housing Resource Inc legitimate?
Worcester Comm Housing Resource Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Worcester Comm Housing Resource 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: $133,613
Professional Fundraising Fees: $0
Other Salaries and Wages: $510,948
For more financial information, click here
Official website here: www.wchr.org
What is the mission statement of Worcester Comm Housing Resource Inc?
Worcester Community Housing Resources, established in 1994, is dedicated to assisting in the creation and preservation of affordable housing and promoting neighborhood revitalization in a wider area. The organization has demonstrated its success by developing its own projects and offering financial aid through its Loan Fund to other affordable housing developers. Its services are primarily focused on low and moderate income individuals, aiming to improve their living situations in the greater Worcester area.
Official website here: www.wchr.org
Who is the CEO of Worcester Comm Housing Resource Inc?
Jennifer Schanck-Bolwell is the Executive Director of Worcester Comm Housing Resource Inc.
Official website here: www.wchr.org
What is the revenue of Worcester Comm Housing Resource Inc?
Worcester Comm Housing Resource Inc's revenue in 2022 was $1,872,287.
Official website here: www.wchr.org
Who are the executives of Worcester Comm Housing Resource Inc and what are their salaries?
The average compensation at Worcester Comm Housing Resource Inc during 2022 was $53,713. There are 12 employees at Worcester Comm Housing Resource Inc.
Here are 18 key members and their salaries:
- Compensation: $133,612
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- Other: $29,732
- Compensation: $114,892
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- Other: $24,770
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Official website here: www.wchr.org
Where can I find the form 990 for Worcester Comm Housing Resource Inc?
Worcester Comm Housing Resource Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wchr.org
Learn more at the official website: www.wchr.org
Mission Statement of Worcester Comm Housing Resource Inc
Worcester Community Housing Resources, a nonprofit organization established in 1994, has a mission to contribute to the creation and preservation of affordable housing, as well as to initiate and support neighborhood revitalization in the broader Worcester area. The organization demonstrates its commitment to this mission by developing its own housing projects and by providing financial assistance to other developers through its Loan Fund. By offering such services to low and moderate-income individuals, Worcester Community Housing Resources aims to make a significant impact in the community.
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Impact
October, 2024
Worcester Community Housing Resources Inc. plays a vital role in creating and preserving affordable housing in the greater Worcester area. By focusing on low and moderate-income individuals and families, the organization actively works to improve housing stability and accessibility for those in need.
Since its inception in 1994, the organization has successfully identified and renovated neglected properties in low-income neighborhoods, transforming them into livable homes that enhance the community's overall quality of life. Through these efforts, it not only provides housing but also supports neighborhood revitalization, fostering a sense of community and pride among residents.
Additionally, the organization contributes to the local economy by initiating projects that create jobs and stimulate growth. By utilizing a Loan Fund, Worcester Community Housing Resources Inc. further assists other affordable housing developers, broadening the impact of its mission. Overall, its commitment to affordable housing is instrumental in addressing the pressing issue of housing insecurity in the area and in fostering healthier, thriving neighborhoods.
This information is meant to be a general summary of Worcester Comm Housing Resource 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 2022.
- Investment Income: $1,780
- Program Service Revenue: $1,295,602
- Gross Receipts: $1,872,287
Assets and Liabilities:
- Total Assets: $24,267,608
- Total Liabilities: $3,993,808
- Net Assets: $20,273,800
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMMUNITY LOAN FUND
Revenue
$145,608
FEE INCOME
Revenue
$107,149
RENTAL INCOME
Revenue
$1,042,845
Organization Details
Founding Year
1988
Phone
(508) 799-0322Principal Officer
Jennifer Schanck-Bolwell
Main Address
11 PLEASANT STREET 300, WORCESTER, MA, 01609
Website
www.wchr.orgNTEE Category
Code: L80 - Housing
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