Overview
What is Commons Housing Corporation?
Commons Housing Corporation is a nonprofit organization situated in Alfred, Maine. They have a footprint in Biddeford, Maine, managing two residential properties: an eight-unit apartment complex and a four-unit apartment complex. The organization primarily relies on rental income from tenants and U.S. Department of Housing and Urban Development Section 8 housing assistance payments for financial support. The Corporation's primary mission is to contribute positively to the community by constructing and operating rental housing that caters to the unique needs and living requirements of eligible residents, as per Department of Housing and Urban Development regulations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (58%)
Commons Housing Corporation has received a One-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The organization scored particularly well in areas such as the independence of its board members and program expense ratio, with 10 out of 10 points for board independence and a program expense ratio of 95.91%. However, overall performance is undermined by its low score in financial transparency and governance practices.
The organization has failed to meet essential benchmarks that reflect good governance. It scored 0 points in several critical areas, such as the absence of a conflict of interest policy, whistleblower policy, and document retention practices. Additionally, the organization's website is not listed on its tax form, raising questions about transparency and accessibility to information for stakeholders.
While the program expenses indicate a dedication to fulfilling its mission, the lack of essential policies and transparency measures may deter donors and stakeholders from supporting Commons Housing Corporation. Improvements in governance and accountability are necessary for the organization to enhance its credibility and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Commons Housing Corporation legitimate?
Commons Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Commons Housing 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: $0
For more financial information, click here
What is the mission statement of Commons Housing Corporation?
The Commons Housing Corporation was established with the mission to enhance community well-being by constructing and managing rental housing facilities. These accommodations cater to the unique needs and living requirements of eligible residents, as per the regulations set by the Department of Housing and Urban Development. The corporation operates two complexes, an eight-unit apartment building and a four-unit apartment building, in an unspecified location. The corporation's operations are primarily sustained by tenant rents and subsidies from the U.S. Department of Housing and Urban Development's Section 8 housing assistance program.
Who is the CEO of Commons Housing Corporation?
Megan Gean - Gendron is the Treasurer of Commons Housing Corporation.
What is the revenue of Commons Housing Corporation?
Commons Housing Corporation's revenue in 2021 was $164,137.
Who are the executives of Commons Housing Corporation and what are their salaries?
Here are 7 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
Where can I find the form 990 for Commons Housing Corporation?
Commons Housing Corporation's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Commons Housing Corporation
Commons Housing Corporation, as an organization, was established with the purpose of enhancing community well-being. They achieve this by constructing and managing rental housing units and related facilities, tailored to cater to the unique needs and living requirements of eligible residents, as per the regulations set by the Department of Housing and Urban Development. The corporation's mission is centered around promoting the welfare of its residents by providing them with suitable housing solutions.
Commons Housing Corporation operates two distinct housing complexes, an eight-unit apartment building and a four-unit apartment complex, both located in Biddeford, Maine. The corporation's operations are primarily funded through tenant rents and U.S. Department of Housing and Urban Development Section 8 housing assistance payments. This dual funding source allows Commons Housing Corporation to maintain its facilities while ensuring its rental units remain affordable for eligible residents.
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
Commons Housing Corporation plays a vital role in the community by providing affordable rental housing for eligible occupants in Biddeford, Maine. The organization operates two apartment complexes—an eight-unit and a four-unit—addressing the housing needs of those who may face barriers in accessing safe and affordable living spaces. By leveraging tenant rents and support from the U.S. Department of Housing and Urban Development, particularly through Section 8 housing assistance, Commons Housing Corporation contributes to the stability and well-being of its residents.
The mission focuses on promoting the general welfare of the community through the development and management of housing that accommodates the special needs of its tenants, as defined by HUD regulations. This initiative not only addresses immediate housing needs but also fosters a supportive environment that enhances the quality of life for individuals and families in Alfred, Maine. Through its efforts, Commons Housing Corporation positively impacts local housing stability, helping to build a stronger, more inclusive community.
This information is meant to be a general summary of Commons Housing 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 2021.
- Program Service Revenue: $154,893
- Gross Receipts: $164,137
Assets and Liabilities:
- Total Assets: $1,231,147
- Total Liabilities: $1,178,712
- Net Assets: $52,435
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.
Tenant Rent
Revenue
$154,893
Organization Details
Founding Year
1993
Phone
(207) 347-1137Principal Officer
Megan Gean - Gendron
Main Address
24 GEORGE ROAD, ALFRED, ME, 04002
NTEE Category
Code: L20Z - Housing
If you are a representative of Commons Housing Corporation 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.