Overview
What is Mutual Housing Association Of South Central Connecticut Inc?
Mutual Housing Association of South Central Connecticut Inc is a nonprofit organization dedicated to improving affordable housing in the region. Their primary mission involves developing, owning, and managing quality housing units, fostering community involvement, and preventing neighborhood deterioration. Their real estate development division generates revenue through developer's fees upon completion and occupation of each development. Notable projects include New Haven Richard Street with 23 units, Waterbury Linden Street with 44 units, Shelton River Breeze Apartments with 68 units, and East Haven Union School Apartments with 18 units, all in various stages of completion. They also have ongoing projects and new constructions planned in Cheshire and Guilford. Their mission is to create strong, healthy, and vibrant communities through active resident and community participation and leadership.
Official website here: www.nwnh.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Stars)
The Mutual Housing Association of South Central Connecticut Inc has received a strong rating of 87%, indicating a solid level of accountability and financial health. The organization excels in governance, showcasing a fully independent board and high scores in audit practices and conflict of interest policies. Their program expense ratio is particularly impressive, with 81.44% of expenditures directed towards their programs, reflecting a commitment to their mission.
Despite the overall positive assessment, there are a few areas where the organization could improve. The liabilities to assets ratio stands at 62.12%, which may raise concerns about financial leverage and stability in the long run. However, the absence of any material diversion of assets and the presence of robust financial oversight mechanisms suggest the organization is taking steps to maintain integrity and accountability.
Overall, the Mutual Housing Association demonstrates a strong commitment to its operational standards and mission-driven work, making it a reliable choice for potential donors looking to support a nonprofit in the housing sector. However, attention to debt management could enhance their financial profile further.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Mutual Housing Association Of South Central Connecticut Inc?
100% of 14 reviewers on Facebook recommend Mutual Housing Association of South Central Connecticut Inc. Here is a summary of their reviews:
The feedback reflects a strong sentiment of satisfaction, particularly highlighting the positive experiences with events hosted by the nonprofit. Reviewers appreciate the quality of the services provided, mentioning enjoyable music and guest engagement during important life events, such as Bnai Mitzvahs.
Overall, the organization seems to excel in delivering memorable experiences, leading to enthusiastic recommendations from those who have engaged with them. This positive reception suggests that they are fulfilling their mission effectively.
This AI summary has been generated from reviews found on Facebook.
Is Mutual Housing Association Of South Central Connecticut Inc legitimate?
Mutual Housing Association Of South Central Connecticut Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mutual Housing Association Of South Central Connecticut 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: $216,699
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,873,644
For more financial information, click here
Official website here: www.nwnh.net
What is the mission statement of Mutual Housing Association Of South Central Connecticut Inc?
The Mutual Housing Association of South Central Connecticut Inc's mission is centered around developing, owning, and managing affordable housing. This organization strives to foster community involvement and works towards preventing and eliminating neighborhood deterioration. Their mission extends to operating high-quality, permanently affordable housing that contributes to the creation of strong, healthy, and vibrant communities. This is achieved through active resident and community participation and leadership.
The association's real estate development division is a significant revenue source, generating developer's fees upon completion and occupation of each development. They collaborate with municipalities on site selection, secure funding commitments, select general contractors, and oversee construction. The organization has various ongoing and upcoming projects, including the development of new constructions and the rehabilitation of existing properties.
Official website here: www.nwnh.net
Who is the CEO of Mutual Housing Association Of South Central Connecticut Inc?
Tom Cruess is the Board Member of Mutual Housing Association Of South Central Connecticut Inc. The CEO's salary of Mutual Housing Association Of South Central Connecticut Inc is $110,000 and their total compensation is $110,245.
Official website here: www.nwnh.net
What is the revenue of Mutual Housing Association Of South Central Connecticut Inc?
Mutual Housing Association Of South Central Connecticut Inc's revenue in 2022 was $11,028,889.
Official website here: www.nwnh.net
Who are the executives of Mutual Housing Association Of South Central Connecticut Inc and what are their salaries?
The average compensation at Mutual Housing Association Of South Central Connecticut Inc during 2022 was $41,807. There are 50 employees and 10 volunteers at Mutual Housing Association Of South Central Connecticut Inc.
Here are 13 key members and their salaries (Mutual Housing Association Of South Central Connecticut Inc's CEO's salary is $110,000 and their total compensation is $110,245):
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- Compensation: $110,000
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- Other: $245
- Compensation: $108,912
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- Other: $15,911
Official website here: www.nwnh.net
Where can I find the form 990 for Mutual Housing Association Of South Central Connecticut Inc?
Mutual Housing Association Of South Central Connecticut Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nwnh.net
Learn more at the official website: www.nwnh.net
Mission Statement of Mutual Housing Association Of South Central Connecticut Inc
Mutual Housing Association of South Central Connecticut Inc is dedicated to developing, owning, and managing affordable housing while fostering community involvement and combating neighborhood deterioration. The organization's mission is to create and maintain permanently affordable quality housing that strengthens and revitalizes communities through active resident and community participation and leadership.
The real estate development division plays a significant role in the association's operations, generating revenue through developer's fees after the completion and occupation of each development. This division works closely with municipalities to select suitable sites, secure funding commitments, select general contractors, and oversee construction. Some of the association's ongoing and completed projects include the New Haven Richard Street with 23 units, Waterbury Linden Street with 44 units, Shelton River Breeze Apartments with 68 units, and East Haven Union School Apartments with 18 units. These developments cater to various housing needs, ranging from capital upgrades to new constructions, ensuring that affordable housing is accessible to a wide range of residents.
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Impact
October, 2024
Mutual Housing Association Of South Central Connecticut Inc plays a crucial role in enhancing community stability and wellness through the development and management of affordable housing. By constructing and rehabilitating residential units, the organization addresses pressing housing needs in the region, ensuring that families have access to safe, quality homes.
Their projects, such as the development of new units in Waterbury and East Haven, as well as the rehabilitation efforts in New Haven, contribute directly to revitalizing neighborhoods. These initiatives not only improve living conditions but also foster a sense of community by encouraging resident involvement and leadership.
The association’s focus on preventing neighborhood deterioration helps maintain the integrity of local areas, ensuring that communities remain vibrant and sustainable. Additionally, by collaborating with municipalities and managing the construction process effectively, they generate economic activity through job creation and developer’s fees, further benefiting the local economy.
Overall, Mutual Housing Association Of South Central Connecticut Inc's impact is multifaceted, addressing the urgent need for affordable housing while simultaneously enhancing community cohesion and stability.
This information is meant to be a general summary of Mutual Housing Association Of South Central Connecticut 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: $247,400
- Program Service Revenue: $3,258,393
- Gross Receipts: $11,028,889
Assets and Liabilities:
- Total Assets: $50,129,248
- Total Liabilities: $31,141,427
- Net Assets: $18,987,821
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW-INCOME HOUSING
Revenue
$2,128,907
DEVELOPER FEES
Revenue
$570,948
PROPERTY MANAGEMENT FEE
Revenue
$350,635
ORGANIZER FEES
Revenue
$207,903
Organization Details
Founding Year
1992
Phone
(203) 562-4514Principal Officer
Tom Cruess
Main Address
235 GRAND AVENUE 2ND FLOOR, NEW HAVEN, CT, 06513
Website
www.nwnh.netNTEE Category
Code: L40Z - Housing
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