Overview
What is Community Development Inc?
Community Development Inc., established in 1987, is a charitable corporation based in Boston, Massachusetts. Its primary mission is to provide affordable housing for individuals and families with low and moderate incomes, combat community deterioration, and promote social welfare. The organization achieves this by acquiring, improving, and rehabilitating properties in blighted areas, constructing new facilities, and offering them at reduced costs. In addition, Community Development Inc. supports other nonprofit organizations by providing below-market-rate office facilities, aiding them in achieving their charitable objectives.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
Community Development Inc has received an 82% score from Charity Navigator, resulting in a Three-Star rating. This rating is solely based on the charity's Accountability & Finance score, indicating a strong emphasis on transparency and responsible management of funds. The organization showcases a commitment to accountability, evidenced by its independent board members and well-structured financial practices.
One of the organization's notable strengths is its board composition, with 100% independent members, which reflects a dedication to unbiased governance. Additionally, Community Development Inc maintains a high program expense ratio of 97.59%, suggesting that a significant portion of its funds is directed towards its mission rather than administrative costs. The charity has also demonstrated financial health with a low liabilities to assets ratio of 13.63%, ensuring it is well-positioned to meet its obligations.
While the charity's accountability and financial practices are commendable, the rating does not provide insights into its program outcomes or overall impact. Potential donors may want to consider this aspect when evaluating the effectiveness of the organization in achieving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Community Development Inc legitimate?
Community Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Development 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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Professional Fundraising Fees: $0
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What is the mission statement of Community Development Inc?
Community Development Inc, as a nonprofit organization, is established to provide affordable housing for individuals and families with low to moderate incomes. This is achieved through the acquisition, improvement, and provision of housing units, either through rehabilitation, new construction, or partnerships with other corporations. The organization also aims to combat community deterioration by improving existing properties or building new facilities in blighted, decayed, or substandard areas. Additionally, Community Development Inc offers office facilities to other nonprofit organizations at a reduced cost, helping them achieve their charitable purposes. In essence, the organization's mission is to improve living conditions, promote social welfare, and support other charitable organizations.
Who is the CEO of Community Development Inc?
Phillip Clay is the Principal Officer of Community Development Inc.
What is the revenue of Community Development Inc?
Community Development Inc's revenue in 2022 was $1,808,385.
Who are the executives of Community Development Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Community Development Inc?
Community Development Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Community Development Inc
Community Development Inc, as a nonprofit organization, was established with a mission to provide affordable housing to individuals and families with low and moderate incomes. The corporation accomplishes this mission by acquiring, improving, and making available housing units through rehabilitation, new construction, or other means. Beyond housing, Community Development Inc also aims to promote social welfare and combat community deterioration by enhancing existing properties or establishing new facilities within blighted, decayed, or substandard areas. Furthermore, the organization offers office facilities to other nonprofit organizations at below-cost prices to assist them in achieving their charitable objectives. By carrying out these activities, Community Development Inc plays a significant role in addressing housing needs and contributing to the improvement of communities.
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Impact
October, 2024
Community Development Inc has a significant impact on the community by focusing on several key areas. Primarily, it works to acquire and improve affordable housing for individuals and families with low to moderate incomes. By rehabilitating existing properties and engaging in new construction, the organization plays a vital role in increasing housing accessibility and addressing the urgent need for affordable living options.
In addition to housing, Community Development Inc promotes social welfare and combats community deterioration. It undertakes initiatives to revitalize blighted, decayed, or substandard areas by creating new facilities that stimulate economic development. This not only enhances the physical environment but also fosters community growth and resilience.
Furthermore, Community Development Inc supports other charitable organizations by providing office facilities at below-market rates. This assistance enables these organizations to operate more effectively, broadening their impact within the community.
Overall, Community Development Inc’s multifaceted approach contributes to healthier, more sustainable communities by improving living conditions, boosting economic opportunities, and supporting collaborative efforts among local organizations.
This information is meant to be a general summary of Community Development 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.
- Program Service Revenue: $1,808,385
- Gross Receipts: $1,808,385
Assets and Liabilities:
- Total Assets: $1,813,777
- Total Liabilities: $247,273
- Net Assets: $1,566,504
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RECOVERY OF BAD DEBT
Revenue
$1,365,689
GROUND LEASE AND RELAT
Revenue
$223,400
INTEREST ON NOTES RECE
Revenue
$219,296
Organization Details
Founding Year
1987
Phone
(857) 221-8600Principal Officer
Phillip Clay
Main Address
185 DARTMOUTH STREET, BOSTON, MA, 02116
NTEE Category
Code: S200 - Community improvement
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