Overview
What is Golden Rule Community Development Corp?
Golden Rule Community Development Corp is a nonprofit organization situated in Montebello, California, with a specific focus on affordable housing. Established with the purpose of assisting extremely-low to moderate income households, the corporation has made significant strides in this area. By purchasing a property in 2017, they received approval to build two low-income units at the rear of the property. By early 2022, construction was completed, occupancy permits were obtained, and both units were rented out in March of the same year. The organization maintains 100% qualified occupancy in these units with no disruptions in rental income. Furthermore, Golden Rule Community Development Corp has shown a commitment to social justice and environmental issues by investing funds in projects, as demonstrated by a $500,000 grant disbursed to The Whole Child Family Solutions Access Center in 2022.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
Golden Rule Community Development Corp has received a two-star rating from Charity Navigator, indicating areas that require significant enhancement. With an overall score of 73%, the organization demonstrates a commitment to accountability and finance, notably achieving full points for having a majority of independent board members and a low liabilities-to-assets ratio. The high program expense ratio of 92.72% suggests that a substantial portion of their funding is directed towards programs rather than administrative costs.
Despite its strengths in governance and financial responsibility, the two-star rating indicates that there are potential concerns that need addressing. The organization has room for improvement in areas that were not specified in the data, which could contribute to a more favorable overall assessment. Continued focus on transparency and operational effectiveness would likely enhance their standing and impact in the community.
For potential donors and supporters, it is important to consider these ratings and feedback as part of a comprehensive evaluation of the nonprofit's performance and impact. Engaging with the organization directly or monitoring future improvements could provide additional insights into their operational developments.
This AI summary has been generated from information found on Charity Navigator.
Is Golden Rule Community Development Corp legitimate?
Golden Rule Community Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Golden Rule 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Golden Rule Community Development Corp?
Golden Rule Community Development Corp's mission involves investing in the development of affordable housing for households with extremely-low to moderate income. This initiative aims to create economic opportunities within local communities and supports social justice and environmental issues. The organization utilizes its resources to foster economic growth in the surrounding areas, ultimately contributing to a better living standard for the less fortunate. Additionally, they have allocated funds to support organizations that provide essential services, such as The Whole Child Family Solutions Access Center.
Who is the CEO of Golden Rule Community Development Corp?
Robert Tapia is the President of Golden Rule Community Development Corp.
What is the revenue of Golden Rule Community Development Corp?
Golden Rule Community Development Corp's revenue in 2022 was $85,292.
Who are the executives of Golden Rule Community Development Corp and what are their salaries?
There 5 volunteers at Golden Rule Community Development Corp.
Here are 4 key members and their salaries:
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Where can I find the form 990 for Golden Rule Community Development Corp?
Golden Rule Community Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Golden Rule Community Development Corp
Golden Rule Community Development Corp is dedicated to investing in the development of affordable housing for households with extremely-low to moderate incomes. This mission extends beyond just providing housing; it also aims to create economic opportunities within the City of Montebello and its surrounding communities. Moreover, the organization is committed to advocating for social justice and environmental issues. This multifaceted approach seeks to improve the living conditions of those in need while also contributing positively to the local community. A notable achievement of Golden Rule Community Development Corp is the completion of two low-income housing units, which were fully occupied by March 2022. Furthermore, the organization demonstrated its commitment to community support by disbursing a significant grant of half a million dollars to The Whole Child Family Solutions Access Center as part of their Legacy Project. This grant further underscores Golden Rule Community Development Corp's dedication to supporting local organizations and initiatives.
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Impact
October, 2024
Golden Rule Community Development Corp has made a significant impact on affordable housing and community development in Montebello, California. By investing in the construction and management of low-income housing, the organization addresses the pressing need for affordable living options for extremely-low to moderate-income households.
The successful completion of two low-income housing units in March 2022 reflects their commitment to expanding affordable housing availability. With a track record of 100% occupancy and consistent rental income from their properties, they provide stable housing options that improve the quality of life for residents.
In addition to housing development, Golden Rule actively supports economic opportunities within the community. A notable example is their $500,000 grant to The Whole Child Family Solutions Access Center, which underscores their dedication to social justice and the wellbeing of families. This grant is part of their Legacy Project, reflecting a broader commitment to enhancing community resources and support systems.
Overall, their investments and initiatives foster economic growth, enhance living conditions, and promote social equity, making a tangible difference in the lives of many in Montebello and its surrounding communities.
This information is meant to be a general summary of Golden Rule 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 2022.
- Investment Income: $858
- Program Service Revenue: $84,434
- Gross Receipts: $85,292
Assets and Liabilities:
- Total Assets: $2,161,615
- Total Liabilities: $450,024
- Net Assets: $1,711,591
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Resident Rent
Revenue
$84,434
Organization Details
Founding Year
2003
Phone
(714) 523-5934Principal Officer
Robert Tapia
Main Address
1012 W Beverly Blvd 996, Montebello, CA, 90640
NTEE Category
Code: L22Z - Housing
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