Overview
What is Project Home Community Development Corporation?
Project Home Community Development Corporation is a nonprofit organization situated in Philadelphia, Pennsylvania, specifically at 1415 Fairmount Avenue Suite 241. Their primary mission is to provide affordable housing for low-income individuals and families in the area. They achieve this by acquiring, rehabilitating, and selling properties to eligible individuals. Additionally, Project Home operates 112 affordable housing units and commercial spaces, leasing them to non-profit organizations. By doing so, they contribute to the community's social and economic fabric, offering affordable living options and supporting local non-profits.
Official website here: www.none
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (56%)
Project Home Community Development Corporation has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its financial health and management practices. The overall score of 56% reflects weaknesses primarily in its financial ratios, particularly a concerning liabilities-to-assets ratio of 217.27%, which may signal financial instability. While the organization shows strengths in governance, such as having a majority of independent board members and established policies for conflict of interest and whistleblowing, the low program expense ratio of 13.36% raises questions about the effectiveness of its resource allocation towards its programs.
The organization has demonstrated compliance in several governance areas, including the listing of its website on tax forms and maintaining proper documentation of board meeting minutes. However, the absence of its tax form on the nonprofit's website detracts from transparency efforts. These factors suggest that while the board has put some robust policies in place, the overall execution and financial management need significant improvement.
In summary, Project Home Community Development Corporation is facing challenges that have impacted its rating and effectiveness. Stakeholders may want to consider these financial indicators seriously, as they highlight potential sustainability issues that could affect the nonprofit's ability to fulfill its mission in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Project Home Community Development Corporation legitimate?
Project Home Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Project Home Community 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.none
What is the mission statement of Project Home Community Development Corporation?
The Project Home Community Development Corporation is committed to providing affordable housing solutions for low-income individuals and families. They accomplish this by acquiring, rehabilitating, and selling properties to eligible individuals, thereby operating 112 affordable housing units and commercial space. The organization's primary goal is to make housing accessible for those in need, contributing to a more inclusive and equitable community. Additionally, they lease out commercial space to non-profit organizations, further supporting community development.
Official website here: www.none
Who is the CEO of Project Home Community Development Corporation?
Kevin Noel is the Treasurer of Project Home Community Development Corporation.
Official website here: www.none
What is the revenue of Project Home Community Development Corporation?
Project Home Community Development Corporation's revenue in 2022 was $1,079,683.
Official website here: www.none
Who are the executives of Project Home Community Development Corporation and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $216,424
- Other: $30,916
- Compensation: $0
- Related: $94,576
- Other: $62,839
- 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: $353,308
- Other: $76,179
Official website here: www.none
Learn more at the official website: www.none
Mission Statement of Project Home Community Development Corporation
Project Home Community Development Corporation is dedicated to providing affordable housing solutions for low-income individuals and families. This nonprofit organization achieves this mission by acquiring, rehabilitating, and selling properties to eligible individuals. In addition, Project Home operates 112 affordable housing units and commercial space, offering a range of opportunities to those in need. By providing affordable housing options, this organization plays a significant role in improving the living standards of its community members.
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Impact
October, 2024
Project Home Community Development Corporation significantly impacts the Philadelphia community by providing affordable housing for low-income individuals and families. By acquiring and rehabilitating properties, it not only enhances the living conditions of residents but also revitalizes neighborhoods. Currently, the organization operates 112 affordable housing units, ensuring that low-income residents have access to stable and secure housing options.
In addition to residential units, the corporation also manages commercial spaces that benefit nonprofit organizations, fostering community development and support networks. This dual approach not only alleviates housing insecurity but also promotes economic growth and sustains community improvement initiatives. Overall, Project Home is instrumental in building a more equitable and vibrant Philadelphia, where low-income families can thrive.
This information is meant to be a general summary of Project Home Community 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: $1,587
- Program Service Revenue: $462,110
- Gross Receipts: $1,079,683
Assets and Liabilities:
- Total Assets: $4,530,187
- Total Liabilities: $9,843,031
- Net Assets: -$5,312,844
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$419,100
SUPPORTIVE SERVICE INC
Revenue
$43,010
Organization Details
Founding Year
1997
Phone
(215) 232-7229Principal Officer
Kevin Noel
Main Address
1415 FAIRMOUNT AVE SUITE 241, PHILADELPHIA, PA, 19130
Website
www.noneNTEE Category
Code: S20 - Community improvement
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