Overview
What is Lancaster Area Habitat For Humanity Inc?
Lancaster Area Habitat for Humanity Inc. is a nonprofit organization situated in Lancaster, Pennsylvania. They are committed to improving housing situations for low-income individuals by leveraging volunteer labor, donated construction materials, and collaborations with subcontractors. This approach makes home-building projects financially viable for their first-time homebuyers who are struggling with unsuitable, expensive, or unaffordable rentals. The homebuyers contribute their effort through "sweat equity" hours and purchase the houses at zero-interest mortgages. Lancaster Area Habitat for Humanity also holds the right of first refusal if the homebuyer decides to sell in the future, potentially allowing them to provide a new home to another eligible family. The organization embodies the mission of Habitat for Humanity, which is to unite people to construct homes, communities, and hope.
Official website here: www.lancasterlebanonhabitat.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Lancaster Area Habitat For Humanity Inc has achieved an impressive 96% rating from Charity Navigator, reflecting a strong commitment to accountability and financial transparency. The organization boasts a perfect score in several key areas, including independent board composition and financial oversight, which indicates robust governance practices.
Strengths highlighted in the rating include a high program expense ratio of 86.61%, which demonstrates that a significant portion of its funds is directed towards its mission-related activities. Additionally, the organization shows a responsible financial structure with a liabilities to assets ratio of 24.64%, suggesting sound fiscal management.
However, one limitation noted is the fundraising efficiency ratio, which scored only 3 out of 25. This could indicate potential challenges in fundraising strategies or higher costs associated with fundraising efforts. Overall, while Lancaster Area Habitat For Humanity Inc is recognized for its strong financial practices, there may be opportunities for improvement in maximizing fundraising effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Lancaster Area Habitat For Humanity Inc legitimate?
Lancaster Area Habitat For Humanity Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lancaster Area Habitat For Humanity 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: $116,103
Professional Fundraising Fees: $0
Other Salaries and Wages: $704,289
For more financial information, click here
Official website here: www.lancasterlebanonhabitat.org
What is the mission statement of Lancaster Area Habitat For Humanity Inc?
Lancaster Area Habitat for Humanity Inc's mission is centered around fostering unity and instilling hope, as encapsulated in their motto, "Habitat for Humanity brings people together to build homes, communities, and hope." This organization, driven by a desire to put God's love into action, aims to bring people together to construct affordable homes for low-income first-time homebuyers who are in need of safe, warm, and affordable housing. The homebuyers are required to contribute sweat equity hours and purchase the home with a zero-interest mortgage. Additionally, Habitat for Humanity has the right of first refusal if the homebuyer decides to sell, enabling them to place a new Habitat homebuyer in the property.
Official website here: www.lancasterlebanonhabitat.org
Who is the CEO of Lancaster Area Habitat For Humanity Inc?
Andrew Szalay is the Chair of Lancaster Area Habitat For Humanity Inc.
Official website here: www.lancasterlebanonhabitat.org
What is the revenue of Lancaster Area Habitat For Humanity Inc?
Lancaster Area Habitat For Humanity Inc's revenue in 2022 was $5,141,180.
Official website here: www.lancasterlebanonhabitat.org
Who are the executives of Lancaster Area Habitat For Humanity Inc and what are their salaries?
The average compensation at Lancaster Area Habitat For Humanity Inc during 2022 was $35,669. There are 23 employees and 716 volunteers at Lancaster Area Habitat For Humanity Inc.
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- Compensation: $94,108
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- Other: $21,995
Official website here: www.lancasterlebanonhabitat.org
Where can I find the form 990 for Lancaster Area Habitat For Humanity Inc?
Lancaster Area Habitat For Humanity Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lancasterlebanonhabitat.org
Learn more at the official website: www.lancasterlebanonhabitat.org
Mission Statement of Lancaster Area Habitat For Humanity Inc
Lancaster Area Habitat for Humanity Inc is a nonprofit organization that is committed to putting God's love into action. Their mission is to bring people together to build homes, communities, and hope. They achieve this by relying on volunteer labor, gifted building materials, and partnerships with subcontractors. This approach makes home-building projects affordable for their low-income first-time homebuyers who have a need for housing.
These homebuyers contribute 'sweat equity' hours and purchase the home with a zero-interest mortgage. Lancaster Area Habitat for Humanity Inc has the right of first refusal if the homebuyer ever decides to sell the home. This provision can allow the nonprofit to place a new Habitat homebuyer in the property, thereby continuing its mission of providing affordable housing to those in need. In essence, Lancaster Area Habitat for Humanity Inc is a beacon of hope, transforming lives by providing a solid foundation - a home.
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Impact
October, 2024
Lancaster Area Habitat For Humanity Inc significantly impacts the local community by addressing the urgent need for safe, affordable housing. Through volunteer labor and partnerships with subcontractors, the organization constructs homes that empower low-income, first-time homebuyers who often struggle with inadequate housing conditions. Homebuyers actively participate in the building process, contributing sweat equity, which fosters a sense of ownership and community involvement.
By offering zero-interest mortgages, Lancaster Area Habitat lowers the financial barriers associated with homeownership, making it attainable for those in need. The provision for Habitat to have the right of first refusal upon the sale of a home ensures that these properties can continue to benefit new low-income families, creating a cycle of hope and opportunity. This initiative not only provides shelter but also strengthens communities, reduces homelessness, and instills a sense of stability and dignity among its beneficiaries. Overall, Lancaster Area Habitat For Humanity helps build homes and transforms lives, making a lasting impact in Lancaster, PA.
This information is meant to be a general summary of Lancaster Area Habitat For Humanity 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: -$89,634
- Program Service Revenue: $1,912,165
- Gross Receipts: $5,231,002
Assets and Liabilities:
- Total Assets: $5,963,327
- Total Liabilities: $1,695,785
- Net Assets: $4,267,542
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESTORE SALES
Revenue
$1,165,096
TRANSFERS TO HOMEOWNERS
Revenue
$585,000
MORTGAGE DISCOUNT AMORT
Revenue
$162,069
Organization Details
Founding Year
1986
Phone
(717) 392-8836Principal Officer
Andrew Szalay
Main Address
443 FAIRVIEW AVENUE, LANCASTER, PA, 17603
NTEE Category
Code: L20 - Housing
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