Overview
What is Better Homes Of Seaford Inc?
Better Homes of Seaford Inc is a nonprofit organization dedicated to addressing the housing needs of low-income families. Their primary activity involves sponsoring and developing low-income housing projects for other entities, as well as owning and managing federally subsidized, multi-family housing projects. These projects provide 35 units of affordable housing, catering to both low and moderate income families. Their mission is centered around providing affordable housing, aiming to make a positive impact on the community.
Official website here: www.betterhomesofseaford.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
Better Homes of Seaford Inc has received a solid rating of 83%, indicating a commendable performance in terms of accountability and financial practices. The charity boasts a fully independent board, with all 10 members adhering to strong governance standards. Additionally, the organization has demonstrated effective financial management, highlighted by a low liabilities-to-assets ratio and a high program expense ratio, which shows that a significant portion of its budget is directed toward its programs.
However, there are some areas of concern in the governance policies of Better Homes of Seaford Inc. Notably, the charity lacks a conflict of interest policy and a whistleblower policy, which are essential for ensuring transparency and accountability. While the organization maintains proper documentation and reporting practices, these missing policies may pose risks in terms of governance standards and ethical conduct.
Overall, Better Homes of Seaford Inc shows strong financial health and commitment to its mission, but it should address the gaps in its governance policies to enhance its accountability and maintain donor trust.
This AI summary has been generated from information found on Charity Navigator.
Is Better Homes Of Seaford Inc legitimate?
Better Homes Of Seaford Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Better Homes Of Seaford 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $100,627
For more financial information, click here
Official website here: www.betterhomesofseaford.org
What is the mission statement of Better Homes Of Seaford Inc?
Better Homes of Seaford Inc, as an organization, is dedicated to providing affordable housing for low and moderate-income families. They accomplish this by sponsoring and developing low-income housing projects for other entities and by owning and sponsoring federally subsidized multi-family housing projects, which currently offer 35 units of housing. The primary goal of Better Homes of Seaford Inc is to make housing accessible for individuals with limited financial resources.
Official website here: www.betterhomesofseaford.org
What is the revenue of Better Homes Of Seaford Inc?
Better Homes Of Seaford Inc's revenue in 2023 was $279,061.
Official website here: www.betterhomesofseaford.org
Who are the executives of Better Homes Of Seaford Inc and what are their salaries?
The average compensation at Better Homes Of Seaford Inc during 2023 was $100,627. There is 1 employee and 25 volunteers at Better Homes Of Seaford Inc.
Here are 10 key members and their salaries:
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Official website here: www.betterhomesofseaford.org
Where can I find the form 990 for Better Homes Of Seaford Inc?
Better Homes Of Seaford Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.betterhomesofseaford.org
Learn more at the official website: www.betterhomesofseaford.org
Mission Statement of Better Homes Of Seaford Inc
Better Homes of Seaford, a nonprofit organization, is dedicated to providing affordable housing for low and moderate income families. This mission is accomplished through the sponsorship and development of low income housing projects for other entities, as well as the ownership and sponsorship of federally subsidized, multi-family housing projects. These projects offer a total of 35 units of housing, ensuring that a substantial number of families have access to affordable living spaces. By undertaking this mission, Better Homes of Seaford plays a crucial role in addressing the housing needs of individuals and families who may be struggling financially.
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Impact
October, 2024
Better Homes of Seaford Inc plays a crucial role in addressing the housing needs of low and moderate-income families in Seaford, Delaware. By sponsoring and developing low-income housing projects, they provide vital support to the community, ensuring that affordable housing is accessible to those who may otherwise struggle to find stable living conditions.
The organization owns and manages federally subsidized, multi-family housing projects that offer 35 units, directly contributing to the reduction of homelessness and housing insecurity in the region. Their commitment to affordable housing not only helps families secure a place to live but also fosters a sense of community and stability, which is essential for overall well-being and growth.
Through their efforts, Better Homes of Seaford Inc impacts the lives of many families, enabling them to thrive in a supportive environment while also positively influencing the local economy and community cohesion.
This information is meant to be a general summary of Better Homes Of Seaford 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 2023.
- Investment Income: $27,267
- Program Service Revenue: $161,456
- Gross Receipts: $279,061
Assets and Liabilities:
- Total Assets: $6,251,001
- Total Liabilities: $2,595,242
- Net Assets: $3,655,759
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT-TENANTS
Revenue
$92,460
DEVELOPER FEE
Revenue
$61,520
RETURN TO OWNER
Revenue
$4,210
OTHER INCOME
Revenue
$3,266
Organization Details
Founding Year
1973
Principal Officer
Jane Smack
Website
www.betterhomesofseaford.orgNTEE Category
Code: L20 - Housing
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