Overview
What is Tenants Development Corporation?
Tenants Development Corporation, situated in Boston, Massachusetts, is a nonprofit organization dedicated to providing affordable housing. They manage three developments, accommodating over 100 low and moderate-income families. The organization's mission is to promote, maintain, and manage housing in the South End of Boston, Massachusetts, ensuring access for families of diverse backgrounds, including race, religion, and nationality. Employing a team of 34 individuals, Tenants Development Corporation plays a crucial role in addressing housing needs within the community.
Official website here: www.tenantsdevelopment.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star Rating
The Tenants Development Corporation has received a 77% rating from Charity Navigator, indicating a satisfactory level of accountability and finance management. This rating is derived solely from its Accountability & Finance score, reflecting the organization's commitment to transparency and responsible fiscal practices. Notably, the organization has 100% independent board members and maintains no material diversion of assets, which are strong indicators of good governance.
The charity excels in several areas, including a high program expense ratio of 89.08%, suggesting that a significant portion of its funds is directed towards its mission-related activities. Additionally, it has a solid liabilities to assets ratio of 5.91%, demonstrating financial stability. The transparency of its operations is further supported by the availability of board meeting minutes and a documented conflict of interest policy.
However, the organization has been noted for lacking a whistleblower policy, which could be a potential area for improvement. Addressing this gap could enhance its accountability framework and further bolster stakeholder confidence in its governance practices. Overall, while the Tenants Development Corporation has a strong financial accountability profile, enhancing its policy framework could contribute positively to its overall rating.
This AI summary has been generated from information found on Charity Navigator.
Is Tenants Development Corporation legitimate?
Tenants Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tenants 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: $368,629
Professional Fundraising Fees: $0
Other Salaries and Wages: $431,011
For more financial information, click here
Official website here: www.tenantsdevelopment.com
What is the mission statement of Tenants Development Corporation?
The Tenants Development Corporation's mission involves promoting, maintaining, and managing housing for low and moderate-income families, irrespective of their race, religion, or nationality. Their primary activity is providing affordable housing, as evidenced by their management of three developments with over 100 units. The corporation's objective is to contribute positively to the housing needs of these income groups, aiming to provide a decent living space for all.
Official website here: www.tenantsdevelopment.com
Who is the CEO of Tenants Development Corporation?
Donald Ward is the Executive Di of Tenants Development Corporation.
Official website here: www.tenantsdevelopment.com
What is the revenue of Tenants Development Corporation?
Tenants Development Corporation's revenue in 2022 was $1,616,876.
Official website here: www.tenantsdevelopment.com
Who are the executives of Tenants Development Corporation and what are their salaries?
The average compensation at Tenants Development Corporation during 2022 was $23,519. There are 34 employees at Tenants Development Corporation.
Here are 16 key members and their salaries:
- Compensation: $223,429
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- Other: $8,956
- Compensation: $135,852
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- Other: $841
- Compensation: $127,368
- Related: $0
- Other: $8,877
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Official website here: www.tenantsdevelopment.com
Where can I find the form 990 for Tenants Development Corporation?
Tenants Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tenantsdevelopment.com
Learn more at the official website: www.tenantsdevelopment.com
Mission Statement of Tenants Development Corporation
Tenants Development Corporation is a nonprofit organization committed to providing housing solutions for low and moderate-income families. Their mission is geared towards promoting, maintaining, and managing affordable housing units in various communities. This mission is aimed at families of diverse backgrounds, including those of different races, religions, and nationalities. The corporation manages several developments, including three that offer housing to over 100 low and moderate-income families. By providing affordable housing, Tenants Development Corporation contributes significantly to ensuring that a wide range of families can reside in a secure and comfortable environment.
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Impact
October, 2024
Tenants Development Corporation significantly impacts the housing landscape in Boston by providing affordable housing options for low and moderate-income residents. With a focus on the South End, the organization actively manages three developments that encompass over 100 residential units. This initiative not only addresses the critical need for affordable housing but also promotes inclusivity, serving families of diverse races, religions, and nationalities. By fostering sustainable living environments, Tenants Development Corporation enhances community stability and accessibility, allowing residents to thrive in their neighborhoods. Their work contributes to the overall health and vibrancy of Boston, ensuring that economic constraints do not preclude families from securing safe and stable homes.
This information is meant to be a general summary of Tenants 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: $487
- Program Service Revenue: $1,556,653
- Gross Receipts: $1,616,876
Assets and Liabilities:
- Total Assets: $30,448,614
- Total Liabilities: $1,800,603
- Net Assets: $28,648,011
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEE
Revenue
$1,150,001
CONTRACT INCOME
Revenue
$251,398
RENTAL INCOME
Revenue
$155,254
Organization Details
Founding Year
1969
Phone
(617) 247-3988Principal Officer
Donald Ward
Main Address
ONE APPLETON STREET SUITE 301, BOSTON, MA, 02116
Website
www.tenantsdevelopment.comNTEE Category
Code: L20Z - Housing
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