Overview
What is Oneholyoke Community Development Corp?
Oneholyoke Community Development Corp, also known as Oneholyoke CDC, is a nonprofit organization situated in Holyoke, Massachusetts, specifically at 70 Lyman Street. Their primary mission is to promote the development of affordable housing for low and moderate-income individuals. They accomplish this by providing 221 rental units for rent and offering subsidized rental assistance to approximately 80 tenants through various partnering agencies. In addition to housing, Oneholyoke CDC aids in the expansion of locally-owned business enterprises in Holyoke, Massachusetts, contributing to the overall improvement of residential and business properties in the area. The organization employs a workforce of 10 individuals in its mission to better the community.
Official website here: www.oneholyoke.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92%, Four-Star out of Four Star rating from Charity Navigator.
Oneholyoke Community Development Corp has achieved a strong rating of 92%, reflecting its commitment to accountability and finance. The organization's high score is primarily driven by its excellent management of financial resources, with a program expense ratio of 89.32%, indicating that a significant portion of its funds is directed toward its charitable programs. Furthermore, the organization maintains an independent board, with 100% of its members being independent, ensuring oversight and governance that aligns with best practices.
While the nonprofit has established several solid policies, it does have a notable gap in having a conflict of interest policy, which has affected its overall accountability score. However, it compensates for this with robust practices in other areas, such as having a whistleblower policy and thorough auditing and oversight measures. The absence of material diversion of assets and a favorable liabilities to assets ratio further highlights its financial stability and integrity.
Overall, Oneholyoke Community Development Corp demonstrates strong organizational strengths in finance and governance, making it a reliable choice for donors and stakeholders. However, addressing its policy gaps could enhance its accountability and strengthen its reputation even further.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Oneholyoke Community Development Corp?
94% of reviewers on Facebook recommend Oneholyoke Community Development Corp. Here is a summary of their reviews:
Many users express appreciation for the organization, highlighting its positive impact and leadership within the community. The sentiment reflects a strong sense of gratitude, with one reviewer specifically noting that the organization has been a wonderful asset to the neighborhood. This suggests that individuals recognize and value the contributions made by Oneholyoke towards community development.
Overall, the positive reception indicates that the nonprofit is fulfilling its mission effectively, earning respect and support from those it serves. The strong recommendation rate showcases a high level of satisfaction with the organization's initiatives and efforts.
This AI summary has been generated from reviews found on Facebook.
Is Oneholyoke Community Development Corp legitimate?
Oneholyoke Community Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oneholyoke Community 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:
Executive Compensation: $79,970
Professional Fundraising Fees: $0
Other Salaries and Wages: $254,083
For more financial information, click here
Official website here: www.oneholyoke.org
What is the mission statement of Oneholyoke Community Development Corp?
Oneholyoke Community Development Corp's mission is centered around promoting the development of affordable housing for low and moderate-income individuals. Additionally, they aim to support the expansion of locally-owned businesses within their community. Furthermore, they provide various forms of assistance to improve residential and business properties, with a focus on Holyoke, Massachusetts. Specifically, they have provided 221 rental units for low to moderate-income individuals, with about 80 tenants receiving subsidized rental assistance from various agencies.
Official website here: www.oneholyoke.org
Who is the CEO of Oneholyoke Community Development Corp?
Michael Moriarty is the Chairman of Oneholyoke Community Development Corp.
Official website here: www.oneholyoke.org
What is the revenue of Oneholyoke Community Development Corp?
Oneholyoke Community Development Corp's revenue in 2021 was $2,742,467.
Official website here: www.oneholyoke.org
Who are the executives of Oneholyoke Community Development Corp and what are their salaries?
The average compensation at Oneholyoke Community Development Corp during 2021 was $33,405. There are 10 employees and 250 volunteers at Oneholyoke Community Development Corp.
Here are 11 key members and their salaries:
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- Compensation: $73,888
- Related: $10,556
- Other: $22,626
Official website here: www.oneholyoke.org
Where can I find the form 990 for Oneholyoke Community Development Corp?
Oneholyoke Community Development Corp's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.oneholyoke.org
Learn more at the official website: www.oneholyoke.org
Mission Statement of Oneholyoke Community Development Corp
Oneholyoke Community Development Corp, a not-for-profit organization, is dedicated to promoting the development of affordable housing and supporting the growth of local businesses in their community. Their mission is twofold: firstly, to facilitate the creation of low and moderate income housing, ensuring that individuals with limited financial means have access to suitable living spaces. Secondly, the corporation is committed to assisting in the expansion of locally-owned business enterprises, thereby contributing to the overall improvement of the residential and commercial property landscape. Approximately 80 tenants in their community benefit from subsidized rental assistance provided by various agencies, thanks to Oneholyoke Community Development Corp's efforts.
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Impact
October, 2024
Oneholyoke Community Development Corp significantly contributes to the housing landscape and economic vitality of Holyoke, MA. By providing 221 rental units aimed at low to moderate-income individuals, it addresses critical housing needs within the community. Approximately 80 tenants benefit from subsidized rental assistance, ensuring that affordable housing remains accessible to those who need it most.
In addition to enhancing housing opportunities, Oneholyoke actively promotes the expansion of locally-owned businesses, fostering economic development that strengthens the community. Through its initiatives, the organization not only improves residential properties but also supports the overall enhancement of business districts, which is vital for local economic sustainability. Overall, Oneholyoke plays a crucial role in developing a more inclusive and thriving Holyoke.
This information is meant to be a general summary of Oneholyoke Community 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 2021.
- Investment Income: $14,026
- Program Service Revenue: $2,326,071
- Gross Receipts: $2,908,768
Assets and Liabilities:
- Total Assets: $4,463,894
- Total Liabilities: $1,036,255
- Net Assets: $3,427,639
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,970,755
NEIGHBORHOOD IMPROVEME
Revenue
$199,871
LOW-INCOME HOUSING MGT
Revenue
$155,445
Organization Details
Founding Year
1972
Phone
(413) 533-7101Principal Officer
Michael Moriarty
Main Address
70 LYMAN STREET, HOLYOKE, MA, 01040
Website
www.oneholyoke.orgNTEE Category
Code: L20Z - Housing
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