Overview
What is The Somerville Community Corporation Inc?
The Somerville Community Corporation Inc, located in Somerville, Massachusetts, is a membership-driven organization dedicated to fostering a vibrant, diverse, and inclusive community. They provide essential services and lead community organizing to support low- and moderate-income residents in their pursuit of economic sustainability and increased civic participation. One of their significant contributions is managing rental housing developments, including six properties offering one- to four-bedroom units. These properties, along with additional units managed through LLCs, are maintained by Wingate Management Company under contract with the corporation. The Somerville Community Corporation Inc's mission aligns with its activities, prioritizing the betterment of its local community.
Official website here: www.somervillecdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
The Somerville Community Corporation Inc has received a solid Three-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The overall score is derived exclusively from its Accountability & Finance metrics, where it achieved a commendable 81%. This rating signifies a commitment to transparency and responsible financial management, which is vital for fostering donor trust and community support.
One of the organization’s key strengths is its independent board structure, with 100% of its board members being independent, ensuring that there are no conflicts of interest in decision-making processes. Furthermore, it scores high in various accountability measures, such as having an audit and oversight committee, and the absence of any material diversion of assets. Its financial management is also noteworthy, with a program expense ratio of 89.61%, indicating that a significant portion of its resources is allocated directly to its programs.
While the organization demonstrates strong governance and effective financial practices, the rating does not address any qualitative aspects of its programs or community impact. Potential donors and stakeholders might consider looking beyond the financial rating to evaluate how well the organization meets its mission and serves the community.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about The Somerville Community Corporation Inc?
100% of 8 reviewers on Facebook recommend The Somerville Community Corporation Inc. Here is a summary of their reviews:
The feedback reflects a deep appreciation for the organization and its role in the community. Longstanding residents express gratitude for the positive impact the corporation has made, highlighting its supportive environment for families and seniors. It resonates particularly with those who have a personal history in Somerville, showcasing how the nonprofit fosters a sense of belonging and continuity within the neighborhood.
Overall, the sentiment towards the Somerville Community Corporation is overwhelmingly positive, with users celebrating the organization’s commitment to serving the community effectively. The positive experiences shared indicate that the nonprofit successfully fulfills its mission, making a meaningful difference in the lives of those it serves.
This AI summary has been generated from reviews found on Facebook.
Is The Somerville Community Corporation Inc legitimate?
The Somerville Community Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Somerville Community Corporation 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $322,382
Professional Fundraising Fees: $0
Other Salaries and Wages: $751,560
For more financial information, click here
Official website here: www.somervillecdc.org
What is the mission statement of The Somerville Community Corporation Inc?
The Somerville Community Corporation Inc, a membership organization, plays a vital role in supporting a vibrant, diverse, and tolerant community. Their mission is to provide leadership and offer services, leading community organizing efforts, to aid low- and moderate-income residents. Their primary goal is to help these residents achieve economic sustainability and increase civic participation. They strive to foster a community where everyone has a voice and can thrive.
Official website here: www.somervillecdc.org
Who is the CEO of The Somerville Community Corporation Inc?
Gonzalo Puigbo is the Ceo of The Somerville Community Corporation Inc. The CEO's salary of The Somerville Community Corporation Inc is $160,000 and their total compensation is $164,761.
Official website here: www.somervillecdc.org
What is the revenue of The Somerville Community Corporation Inc?
The Somerville Community Corporation Inc's revenue in 2022 was $4,494,144.
Official website here: www.somervillecdc.org
Who are the executives of The Somerville Community Corporation Inc and what are their salaries?
The average compensation at The Somerville Community Corporation Inc during 2022 was $59,663. There are 18 employees and 46 volunteers at The Somerville Community Corporation Inc.
Here are 22 key members and their salaries (The Somerville Community Corporation Inc's CEO's salary is $160,000 and their total compensation is $164,761):
- Compensation: $160,000
- Related: $0
- Other: $4,761
- Compensation: $66,925
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- Other: $1,731
- Compensation: $83,243
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- Other: $5,722
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Official website here: www.somervillecdc.org
Where can I find the form 990 for The Somerville Community Corporation Inc?
The Somerville Community Corporation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.somervillecdc.org
Learn more at the official website: www.somervillecdc.org
Mission Statement of The Somerville Community Corporation Inc
The Somerville Community Corporation (SCC) serves as a membership organization, providing leadership to maintain Somerville as a lively, diverse, and accepting community. With a focus on low- and moderate-income residents, SCC offers services and leads community organizing initiatives to support these individuals in their quest for financial stability and increased civic engagement. In essence, SCC's mission is to help strengthen and uplift the community by empowering its members and fostering an inclusive environment.
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Impact
October, 2024
The Somerville Community Corporation Inc plays a crucial role in fostering a vibrant, diverse, and tolerant community in Somerville, Massachusetts. By offering leadership and support, it aims to enhance the quality of life for low- and moderate-income residents, promoting economic sustainability and increased civic participation.
One of its significant contributions is through its rental programs, which provide affordable housing options for residents. The organization directly owns several rental housing developments, including a range of one to four-bedroom units, all of which are managed effectively to ensure quality living conditions. By maintaining 165 rental units across various locations, SCC addresses pressing housing needs in the community, making it easier for families and individuals to find stable and supportive living environments.
Beyond housing, SCC engages in community organizing, empowering residents to actively participate in local affairs and decision-making processes. This engagement not only helps individuals advocate for their needs but also fosters a sense of community and collective responsibility. Through its initiatives, the Somerville Community Corporation Inc significantly impacts both the economic fabric and civic health of the city, ensuring that all residents have the opportunity to contribute to and benefit from their community.
This information is meant to be a general summary of The Somerville Community Corporation 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: -$211,830
- Program Service Revenue: $3,705,167
- Gross Receipts: $5,675,548
Assets and Liabilities:
- Total Assets: $52,165,073
- Total Liabilities: $55,355,580
- Net Assets: -$3,190,507
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$3,197,254
TENANT SERVICES
Revenue
$285,845
DEVELOPER FEES
Revenue
$222,068
Organization Details
Founding Year
1969
Phone
(617) 776-5931Principal Officer
Gonzalo Puigbo
Main Address
337 SOMERVILLE AVENUE 2ND FLOOR, SOMERVILLE, MA, 02143
Website
www.somervillecdc.orgNTEE Category
Code: S200 - Community improvement
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