Overview
What is Hace?
Hace, or Hispanic Association Contractor Enterprises, is a nonprofit organization dedicated to revitalizing communities through economic development initiatives. Their main focus is on combating community deterioration by addressing commercial revitalization, creating job opportunities, constructing safe and affordable housing, and providing necessary support services to enhance the lives of local residents. By working towards restoring their primary neighborhoods, Hace aims to foster a positive environment where residents can benefit from sound investments that significantly improve their quality of life. Their activities span across community development, housing counseling, and job creation along the main street corridor.
Official website here: www.hacecdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Stars)
Hace has achieved a commendable Four-Star rating on Charity Navigator, reflecting its high accountability and finance standards. The charity's performance is particularly notable in its leadership structure, boasting a board comprised entirely of independent members, which enhances transparency and governance. Additionally, the organization has established robust financial oversight and policies, demonstrating its commitment to ethical practices.
The charity's financial ratios indicate a solid operational foundation, with a significant portion of its expenses allocated directly to programs (76.88%) and an impressive working capital ratio of 3.19 years. This suggests that Hace is well-positioned to manage its resources effectively and sustain its activities over time. However, it faces criticism regarding its fundraising efficiency, as indicated by a low score in this area, suggesting that the organization may need to reassess its fundraising strategies to improve overall financial sustainability.
Overall, Hace's strong accountability measures and independent governance are key strengths that contribute to its positive rating. While there are areas for improvement, particularly in fundraising, the organization demonstrates a commitment to transparency and effective financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Hace legitimate?
Hace is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hace 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: $179,440
Professional Fundraising Fees: $0
Other Salaries and Wages: $939,679
For more financial information, click here
Official website here: www.hacecdc.org
What is the mission statement of Hace?
HACE, or Hispanic Association Contractor Enterprises, aims to combat community deterioration through economic development initiatives. Their mission focuses on revitalizing primary neighborhoods by addressing commercial growth, employment opportunities, the development of safe and affordable housing, and providing necessary support services. They strive to create beneficial investments that improve the quality of life for residents in these areas. Essentially, HACE works towards restoring neighborhood economies, focusing on potential growth and improvement opportunities.
Official website here: www.hacecdc.org
Who is the CEO of Hace?
Maria Gonzalez is the President of Hace.
Official website here: www.hacecdc.org
What is the revenue of Hace?
Hace's revenue in 2022 was $4,255,010.
Official website here: www.hacecdc.org
Who are the executives of Hace and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $161,440
- Related: $0
- Other: $18,000
- 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
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.hacecdc.org
Where can I find the form 990 for Hace?
Hace's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hacecdc.org
Learn more at the official website: www.hacecdc.org
Mission Statement of Hace
HACE, or the Hispanic Association Contractor Enterprises, is dedicated to combating community deterioration through economic development initiatives. The organization prioritizes revitalizing commercial areas, creating employment opportunities, constructing safe and affordable housing, and providing support services to meet the needs of community residents. By focusing on these areas, HACE aims to strengthen the economic base of its primary neighborhoods, ultimately improving the quality of life for its residents. The organization strives to make sound investments that will positively impact the community, restoring its vitality.
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Impact
October, 2024
HACE plays a pivotal role in transforming neighborhoods through community development initiatives in Philadelphia. By focusing on commercial revitalization, the organization fosters economic growth that directly impacts local residents. Their housing counseling services provide guidance to families seeking safe and affordable housing, addressing one of the most pressing needs within the community.
Additionally, HACE's efforts in creating jobs along the Main Street corridor not only stimulate the local economy but also enhance employment opportunities for residents, thereby helping to reduce poverty and improve overall living standards. Their commitment to providing support services ensures that community members have access to the resources they need to thrive.
By investing in the revitalization of primary neighborhoods, HACE is not just combating deterioration; they are actively working to elevate the quality of life for residents. Their focus on practical solutions and sound investments lays a foundation for sustained economic development and a stronger community fabric.
This information is meant to be a general summary of Hace. 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: $197
- Program Service Revenue: $1,428,081
- Gross Receipts: $4,255,010
Assets and Liabilities:
- Total Assets: $16,605,211
- Total Liabilities: $8,128,875
- Net Assets: $8,476,336
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$856,684
DEVELOPMENT FEES
Revenue
$566,872
COUNSELOR FEES
Revenue
$4,525
Organization Details
Founding Year
1982
Phone
(215) 426-8025Principal Officer
Maria Gonzalez
Main Address
167 WEST ALLEGHENY AVENUE, PHILADELPHIA, PA, 19140
Website
www.hacecdc.orgNTEE Category
Code: S200 - Community improvement
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