Overview
What is Community Ventures?
Community Ventures is a nonprofit organization established in 1987 in Philadelphia. Their primary focus is on the development of affordable housing. They achieve this by engaging in joint venture rehabilitation projects with local organizations. Their mission is to improve the living conditions of the community by collaborating with locally-based organizations. Community Ventures is dedicated to making a positive impact on Philadelphia's housing landscape.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement - Two-Star out of Four Stars (71%)
Community Ventures has received a two-star rating from Charity Navigator, indicating that it needs improvement in various operational aspects. The organization scores 71% overall, reflecting strengths particularly in governance and accountability, evidenced by its high percentages of independent board members and robust policies for conflict of interest and whistleblowing. The financial oversight appears strong, with no material diversions of assets reported and a commendable liabilities to assets ratio.
However, the organization faces challenges in its financial management, as indicated by a relatively low program expense ratio of 51.65%, which suggests that a significant portion of its expenses may not directly contribute to its mission. This aspect could raise questions about the effectiveness and efficiency of its resource allocation. While it has solid governance policies in place, the need for improvement in financial performance is critical for enhancing overall transparency and impact.
In summary, while Community Ventures demonstrates a commitment to accountability and has a strong governance framework, enhancing its program expense ratio will be essential for bettering its service delivery and fulfilling its mission effectively. The focus on improving financial performance could ultimately lead to a higher rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Community Ventures legitimate?
Community Ventures is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Ventures 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: $137,454
Professional Fundraising Fees: $0
Other Salaries and Wages: $845,260
For more financial information, click here
What is the mission statement of Community Ventures?
Community Ventures, established in 1987, has a mission to develop affordable housing in collaboration with local organizations. The organization's primary objective is to engage in joint venture redevelopment efforts, aiming to contribute to the provision of affordable housing solutions. The mission of Community Ventures is centered around working in tandem with local entities to improve housing conditions and make affordable housing options more accessible.
Who is the CEO of Community Ventures?
David Lafontaine is the Executive Director of Community Ventures.
What is the revenue of Community Ventures?
Community Ventures's revenue in 2022 was $1,560,468.
Who are the executives of Community Ventures and what are their salaries?
The average compensation at Community Ventures during 2022 was $42,727. There are 23 employees and 10 volunteers at Community Ventures.
Here are 10 key members and their salaries:
- Compensation: $114,480
- Related: $0
- Other: $22,974
- 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
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Community Ventures?
Community Ventures's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Community Ventures
Community Ventures, established in 1987, is a mission-driven organization dedicated to the development of affordable housing. With a focus on collaboration, it enters into joint venture rehabilitation projects with locally-based organizations. The primary goal of Community Ventures is to contribute to the affordable housing sector in Philadelphia. By working together with local organizations, it aims to create sustainable and affordable housing solutions for the community.
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Impact
October, 2024
Community Ventures has made a significant impact on affordable housing in Philadelphia since its incorporation in 1987. By focusing on housing rehabilitation, the organization collaborates with locally-based organizations to engage in joint venture redevelopment efforts. This approach not only revitalizes neighborhoods but also creates accessible housing options for residents in need, effectively addressing housing shortages and promoting community stability. Through its dedicated work, Community Ventures contributes to the enhancement of living conditions and the overall well-being of the Philadelphia community.
This information is meant to be a general summary of Community Ventures. 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: $141,101
- Program Service Revenue: $1,382,678
- Gross Receipts: $1,560,468
Assets and Liabilities:
- Total Assets: $18,608,885
- Total Liabilities: $747,594
- Net Assets: $17,861,291
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL COMMISSION
Revenue
$202,644
EXPENSE REIMBURSEMENT
Revenue
$538,372
DEVELOPMENT FEES
Revenue
$569,360
MANAGEMENT FEES
Revenue
$49,726
RENTAL INCOME
Revenue
$22,576
Organization Details
Founding Year
1987
Phone
(215) 564-6004Principal Officer
David Lafontaine
Main Address
1501 CHERRY STREET, PHILADELPHIA, PA, 19102
NTEE Category
Code: T30 - Philanthropy
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