Overview
What is Housing Association And Development Corporation?
Housing Association and Development Corporation is a nonprofit organization situated in Allentown, Pennsylvania, specifically at 513-515 Chew Street. Their primary mission is to enhance living conditions in the city's neighborhoods by eliminating blighted housing and increasing housing opportunities for lower-income individuals and families. They accomplish this by purchasing vacant, deteriorated residential properties within Allentown, thoroughly rehabilitating the units, and then either selling or renting them out. With a staff of 19 dedicated professionals, the corporation plays a significant role in revitalizing the community and providing affordable housing options for those in need.
Official website here: www.hadcallentown.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. This rating reflects the organization's overall accountability and finance practices. While scoring well in several areas, the two-star rating suggests there are notable concerns regarding its financial health and transparency.
Strengths of the Housing Association And Development Corporation include a fully independent board, with 100% of its members being independent. The organization has also demonstrated strong governance practices by maintaining an audit oversight committee and having no evidence of material diversion of assets. Additionally, it has high program expense ratios, indicating that a significant portion of its resources is directed toward its mission-related activities.
However, there are limitations that impact the overall rating. The lack of a whistleblower policy, along with missing documents related to retention and destruction, raises concerns about governance transparency. Furthermore, the organization has a high liabilities to assets ratio, which could indicate potential financial vulnerability. Additionally, the absence of certain financial documents on its website may hinder stakeholder assessment of its fiscal practices.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Association And Development Corporation legitimate?
Housing Association And Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Association And Development 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: $80,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $243,740
For more financial information, click here
Official website here: www.hadcallentown.org
What is the mission statement of Housing Association And Development Corporation?
The Housing Association and Development Corporation's mission is centered around improving housing conditions in various neighborhoods. Their primary goal is to eliminate blighted housing situations and increase housing opportunities for lower-income residents. They achieve this by purchasing vacant, deteriorated residential properties within the city and meticulously rehabilitating the units. Once restored, these properties are either sold or rented out to individuals and families in the lower and moderate income brackets. In essence, the corporation aims to revitalize neighborhoods and provide affordable housing options for those in need.
Official website here: www.hadcallentown.org
Who is the CEO of Housing Association And Development Corporation?
David Evans is the Treasurer of Housing Association And Development Corporation.
Official website here: www.hadcallentown.org
What is the revenue of Housing Association And Development Corporation?
Housing Association And Development Corporation's revenue in 2022 was $1,505,738.
Official website here: www.hadcallentown.org
Who are the executives of Housing Association And Development Corporation and what are their salaries?
The average compensation at Housing Association And Development Corporation during 2022 was $17,039. There are 19 employees and 17 volunteers at Housing Association And Development Corporation.
Here are 11 key members and their salaries:
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- Compensation: $79,354
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Official website here: www.hadcallentown.org
Where can I find the form 990 for Housing Association And Development Corporation?
Housing Association And Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hadcallentown.org
Learn more at the official website: www.hadcallentown.org
Mission Statement of Housing Association And Development Corporation
The Housing Association and Development Corporation is dedicated to addressing the issue of blighted housing conditions in urban neighborhoods. Their mission is twofold: firstly, to eliminate these substandard living conditions; and secondly, to increase the availability of housing opportunities for lower-income residents. They achieve this by proactively purchasing vacant and deteriorated residential properties within the city. Once acquired, these properties undergo a comprehensive renovation process, transforming them into fully rehabilitated units. These units are then either sold or rented out to individuals and families falling within the low and moderate income brackets. By executing this strategy, the Housing Association and Development Corporation is instrumental in improving the living standards of its community members and enhancing the overall quality of urban neighborhoods.
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Impact
October, 2024
Housing Association and Development Corporation significantly impacts the city of Allentown by addressing the issue of blighted housing and enhancing the availability of affordable housing. By purchasing vacant and deteriorated residential properties, the organization actively works to rehabilitate these units. This process not only improves the physical landscape of neighborhoods but also fosters a sense of community pride.
The rehabilitation efforts directly benefit low and moderate-income individuals and families, providing them with quality housing options that might otherwise be inaccessible. By transforming neglected properties into safe, livable spaces, the organization contributes to reducing overall neighborhood decay and promoting stability among residents.
In summary, Housing Association and Development Corporation plays a crucial role in revitalizing Allentown’s neighborhoods, enhancing living conditions, and increasing access to affordable housing opportunities for those in need.
This information is meant to be a general summary of Housing Association And Development 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 2022.
- Investment Income: $5,129
- Program Service Revenue: $733,734
- Gross Receipts: $1,505,738
Assets and Liabilities:
- Total Assets: $2,961,190
- Total Liabilities: $3,326,173
- Net Assets: -$364,983
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$393,734
PROPERTY SALES
Revenue
$340,000
Organization Details
Founding Year
1978
Phone
(610) 432-6336Principal Officer
David Evans
Main Address
513-515 CHEW STREET, ALLENTOWN, PA, 18102
Website
www.hadcallentown.orgNTEE Category
Code: L25Z - Housing
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