Overview
What is Coastal Affordable Housing?
Coastal Affordable Housing is a nonprofit organization situated in Maine. Their primary mission is to develop, own, and manage subsidized housing units for individuals and families with low income. By doing so, they contribute to addressing housing affordability issues within the community. The organization has numerous low-income housing units under its management, which they actively develop to cater to this demographic. Coastal Affordable Housing plays a significant role in providing affordable housing solutions and improving living conditions for these individuals and families.
What are the reviews and ratings of this charity?
Charity Navigator Rating 71% - Two-Star out of Four Star Rating
Coastal Affordable Housing has received a Two-Star rating from Charity Navigator, indicating some concerns in its accountability and financial practices. While the organization excels in areas such as having a majority-independent board and solid financial auditing, it lacks essential policies like a whistleblower policy and document retention guidelines. This raises questions about its governance and transparency.
A strong point for Coastal Affordable Housing is its program expense ratio, which stands at 100%, suggesting that all funds are directed towards its mission. The organization demonstrates financial integrity with no reported material diversion of assets, which is a positive aspect of its operations. However, the high liabilities to assets ratio of 117.74% indicates potential financial instability that may need addressing.
Overall, while Coastal Affordable Housing has foundational strengths, particularly in its commitment to program expenses, the missing policies and concerning financial ratios could impact its long-term sustainability and trust among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Coastal Affordable Housing legitimate?
Coastal Affordable Housing is a legitimate nonprofit organization registered as a 501(c)(3) entity. Coastal Affordable Housing 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: $40,073
For more financial information, click here
What is the mission statement of Coastal Affordable Housing?
Coastal Affordable Housing is committed to developing, owning, and managing subsidized housing units intended for qualified low-income individuals and families. Their mission involves providing appropriate housing solutions for this demographic, ensuring they can maintain stable living conditions. The organization actively manages and develops numerous subsidized housing units, demonstrating their dedication to this cause.
Who is the CEO of Coastal Affordable Housing?
Linda Pearse is the Treasurer/Secretary of Coastal Affordable Housing.
What is the revenue of Coastal Affordable Housing?
Coastal Affordable Housing's revenue in 2022 was $716,133.
Who are the executives of Coastal Affordable Housing and what are their salaries?
Here are 5 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
Where can I find the form 990 for Coastal Affordable Housing?
Coastal Affordable Housing's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Coastal Affordable Housing
Coastal Affordable Housing, a nonprofit organization, is dedicated to a mission of developing, owning, and managing subsidized housing units for qualified low-income individuals and families. This mission is crucial in providing affordable living solutions for those who might otherwise struggle to find suitable accommodations within their financial means. By managing and developing numerous low-income housing units, Coastal Affordable Housing plays a significant role in addressing the housing needs of its community, ensuring that a diverse range of people can live with dignity and security. The organization's commitment to this mission is evident in its tireless efforts to provide affordable housing solutions, thereby contributing positively to the overall well-being and stability of its clientele.
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Impact
October, 2024
Coastal Affordable Housing significantly enhances the quality of life for low-income individuals and families by providing access to subsidized housing units in Maine. By developing, owning, and managing these properties, it addresses the critical need for affordable living options in the region. This initiative reduces housing instability and enhances community well-being, allowing residents to focus on other essential aspects of their lives, such as education and employment. The organization’s efforts help foster inclusive communities where individuals can thrive, ultimately contributing to economic stability and social equity in the area.
This information is meant to be a general summary of Coastal Affordable Housing. 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: $2,165
- Program Service Revenue: $315,999
- Gross Receipts: $716,133
Assets and Liabilities:
- Total Assets: $2,161,522
- Total Liabilities: $2,545,097
- Net Assets: -$383,575
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$306,100
MISCELLANEOUS
Revenue
$7,556
LAUNDRY
Revenue
$2,545
K-1 FLOW THROUGH
Revenue
-$202
Organization Details
Founding Year
1989
Phone
(207) 236-4067Principal Officer
Linda Pearse
Main Address
662 BARNESTOWN ROAD, HOPE, ME, 04847
NTEE Category
Code: L20Z - Housing
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