Overview
What is Commonwealth Housing Development Corp?
Commonwealth Housing Development Corp, based in Glenside, Pennsylvania, is a nonprofit organization with a mission to serve two primary groups: lower-income individuals and charitable nonprofit organizations. Their mission encompasses providing efficient and accessible housing services for the former and offering office space for the latter. By doing so, they aim to contribute to community development activities as well. In essence, Commonwealth Housing Development Corp is committed to enhancing living conditions for underprivileged individuals and supporting the operational needs of various charitable organizations within their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (54%)
Commonwealth Housing Development Corp has received a One-Star rating from Charity Navigator, indicating significant concerns about its overall performance. The organization scored 54% in the accountability and finance category, which reflects its struggle to manage its financial resources effectively. While its governance metrics show strong performance in areas such as board independence and conflict of interest policies, the low scores in financial ratios raise red flags regarding its sustainability.
The organization demonstrates a commitment to good governance, with all board members being independent and a clear whistleblower policy in place. However, the alarming liabilities to assets ratio of 74.62% suggests potential financial instability, which could hinder its ability to execute its mission effectively. Additionally, the program expense ratio of 48.99% indicates that less than half of its expenditures are allocated directly to its programs, which may affect its impact.
While Commonwealth Housing Development Corp has some strengths in governance, the financial health indicators suggest serious limitations that potential donors and stakeholders should consider. The organization may need to address these financial challenges to improve its rating and overall effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Commonwealth Housing Development Corp legitimate?
Commonwealth Housing Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Commonwealth Housing Development Corp 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:
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What is the mission statement of Commonwealth Housing Development Corp?
The Commonwealth Housing Development Corp, as its mission, focuses on providing housing for individuals with lower income and supporting charitable non-profit organizations. It aims to make housing services more efficient and accessible for the former group. Additionally, the corporation offers office space for various non-profit organizations, thereby contributing to community development activities. In essence, the organization's mission is centered around enhancing housing opportunities and supporting charitable organizations.
Who is the CEO of Commonwealth Housing Development Corp?
Cathy Carr is the Principal Officer of Commonwealth Housing Development Corp.
What is the revenue of Commonwealth Housing Development Corp?
Commonwealth Housing Development Corp's revenue in 2022 was $133,137.
Who are the executives of Commonwealth Housing Development Corp and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Commonwealth Housing Development Corp?
Commonwealth Housing Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Commonwealth Housing Development Corp
Commonwealth Housing Development Corp, as a dedicated organization, aims to serve a dual purpose. Its primary mission is to provide housing solutions for individuals of lower income, offering them a secure and comfortable living environment. Beyond this, the corporation also offers office space to various charitable non-profit organizations. By doing so, it contributes to the overall efficiency and accessibility of these organizations' services. This multi-faceted approach allows Commonwealth Housing Development Corp to contribute significantly to community development activities, thereby enhancing the lives of those in need.
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Impact
October, 2024
Commonwealth Housing Development Corp significantly enhances the availability and efficiency of housing services for lower-income individuals and charitable organizations. By providing office space for nonprofit entities, it creates a collaborative environment that fosters community development activities. This support is vital for numerous organizations that work tirelessly to address housing challenges faced by low-income populations. The organization's commitment to facilitating access to housing ensures that essential services reach those in need, reinforcing the foundation for stronger, sustainable communities in Glenside, PA, and beyond. Through its efforts, Commonwealth Housing Development Corp plays a crucial role in improving living conditions and promoting economic stability for vulnerable populations.
This information is meant to be a general summary of Commonwealth Housing Development Corp. 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: $77
- Program Service Revenue: $126,567
- Gross Receipts: $133,137
Assets and Liabilities:
- Total Assets: $1,384,983
- Total Liabilities: $1,014,376
- Net Assets: $370,607
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EXEMPT OCCUPANCY INCOM
Revenue
$126,567
Organization Details
Founding Year
1986
Phone
(215) 572-7300Principal Officer
Cathy Carr
Main Address
2 SOUTH EASTON ROAD, GLENSIDE, PA, 19038
NTEE Category
Code: L80Z - Housing
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