Overview
What is Our City Reading Inc?
Our City Reading Inc is a nonprofit organization based in Reading, Pennsylvania. With a focus on urban revitalization, they rehabilitate residential properties and sell them to moderate-income individuals and families. In 2018, they successfully sold one property. Additionally, their mission involves restoring and constructing new buildings for new industries within the city, redeveloping business districts through restoration or creation of new buildings, and managing and building apartments in the city. As of December 31, 2018, no further properties were in rehabilitation.
Official website here: www.ourcityreading.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star Rating)
Our City Reading Inc has received a Three-Star rating from Charity Navigator, reflecting an 88% score in Accountability & Finance for the most recent fiscal year (FY2021). The rating highlights the organization's strong commitment to transparency and financial responsibility, with fully independent board members and a high program expense ratio of 90.29%, indicating a focus on its mission-related activities.
The charity excels in various areas, including having a completely independent board and strong financial oversight, as evidenced by its perfect scores in categories such as audit committee presence and material diversion of assets. However, there are notable gaps, particularly in its governance policies, with missing whistleblower and document retention policies, and the tax form not being posted on its website.
While the overall financial health appears strong, the absence of certain governance documents may limit the organization's perceived accountability. Continued improvement in these areas could enhance its rating further and strengthen stakeholder confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Our City Reading Inc legitimate?
Our City Reading Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Our City Reading 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.
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Official website here: www.ourcityreading.org
What is the mission statement of Our City Reading Inc?
Our City Reading Inc's mission is centered around restoring and constructing new buildings, primarily for the purpose of accommodating new industries. The organization also focuses on revitalizing business districts through renovation or the creation of new structures. Additionally, Our City Reading Inc is involved in managing and building apartments within these cities. The primary goal of these activities is to contribute positively to urban development. As of 2018, the organization has sold one rehabilitated property for moderate-income individuals and families. However, as of December 31, 2018, no further properties were under rehabilitation.
Official website here: www.ourcityreading.org
Who is the CEO of Our City Reading Inc?
Jim Boscov is the Principal Officer of Our City Reading Inc.
Official website here: www.ourcityreading.org
What is the revenue of Our City Reading Inc?
Our City Reading Inc's revenue in 2022 was $1,689,681.
Official website here: www.ourcityreading.org
Who are the executives of Our City Reading Inc and what are their salaries?
Here are 14 key members and their salaries:
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Official website here: www.ourcityreading.org
Where can I find the form 990 for Our City Reading Inc?
Our City Reading Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ourcityreading.org
Learn more at the official website: www.ourcityreading.org
Mission Statement of Our City Reading Inc
Our City Reading Inc, as an organization, is dedicated to restoring residential properties and constructing new buildings for new industries within its operational sphere. The primary goal is to revitalize the business districts of the city through either the restoration of existing structures or the creation of new ones. Furthermore, Our City Reading Inc engages in managing and building apartments within the city, providing housing solutions for moderate-income individuals and families. In 2018, one property was sold by the organization, marking a step towards achieving its mission. As of December 31, 2018, no further properties were in the process of rehabilitation.
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Impact
October, 2024
Our City Reading Inc significantly contributes to the revitalization of Reading by restoring residential properties and fostering new industrial growth. By rehabilitating and selling homes specifically targeted for moderate-income individuals and families, the organization enhances housing accessibility and creates sustainable communities. The redevelopment initiatives undertaken in the business districts further stimulate economic activity, encouraging new businesses to establish themselves in the area. Additionally, through the management and construction of new apartments, Our City Reading Inc addresses the housing needs of the community, promoting a more vibrant and inclusive urban environment. The collective impact of these efforts not only improves the physical landscape of Reading but also strengthens the community's social fabric, supporting families and individuals in building a better future.
This information is meant to be a general summary of Our City Reading 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: $499,274
- Gross Receipts: $2,469,244
Assets and Liabilities:
- Total Assets: $67,946,619
- Total Liabilities: $15,640,599
- Net Assets: $52,306,020
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Organization Details
Founding Year
2001
Phone
(610) 370-3726Principal Officer
Jim Boscov
Main Address
4500 PERKIOMEN AVENUE, READING, PA, 19606
Website
www.ourcityreading.orgNTEE Category
Code: S20 - Community improvement
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