Overview
What is Community Homebuyers Inc?
Community Homebuyers Inc, based in Sharon, Pennsylvania, is a nonprofit organization dedicated to addressing housing needs within Mercer County. Their primary mission is to support the provision of housing for the local community, encompassing both home ownership and affordable living accommodations for low-income individuals. To achieve this goal, they manage and oversee various housing properties, including Mercer Housing LLC. By doing so, Community Homebuyers Inc contributes to enhancing the living conditions and opportunities for residents in Mercer County, Pennsylvania.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Zero-Star out of Four Star rating
Community Homebuyers Inc received a zero-star rating from Charity Navigator, reflecting significant concerns regarding its accountability and financial practices. With an overall score of 48%, the organization struggles with transparency, particularly due to the absence of critical policies and missing information on its website. While it has a majority of independent board members, it lacks sufficient independent representation on the board, which raises governance questions.
One of the organization's strengths is its program expense ratio of 88.74%, indicating that a large portion of its expenses is directed towards its programs rather than administrative costs. This suggests a commitment to its mission, even as financial management practices raise red flags. The organization has demonstrated no material diversion of assets, which is a positive aspect of its operations.
However, the lack of essential policies such as a conflict of interest policy, whistleblower policy, and a document retention policy highlights major gaps in governance. Additionally, the liabilities to assets ratio of 136.96% indicates that the organization has more liabilities than assets, which could jeopardize its financial stability. Overall, while Community Homebuyers Inc shows dedication to its mission, its governance and financial practices need significant improvement to foster trust and ensure sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Community Homebuyers Inc legitimate?
Community Homebuyers Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Homebuyers 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: $18,788
For more financial information, click here
What is the mission statement of Community Homebuyers Inc?
Community Homebuyers Inc is committed to helping provide housing solutions for individuals, focusing on Mercer County, Pennsylvania. Their mission encompasses promoting home ownership and offering low-income affordable housing options. In order to achieve this, they engage in the development, ownership, and management of low-income housing properties. This non-profit organization strives to ensure that everyone has access to a decent and affordable place to live.
Who is the CEO of Community Homebuyers Inc?
Holly Nogay is the President of Community Homebuyers Inc.
What is the revenue of Community Homebuyers Inc?
Community Homebuyers Inc's revenue in 2022 was $73,720.
Who are the executives of Community Homebuyers Inc and what are their salaries?
There 2 volunteers at Community Homebuyers Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $145,948
- Other: $22,895
Where can I find the form 990 for Community Homebuyers Inc?
Community Homebuyers Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Community Homebuyers Inc
Community Homebuyers Inc, a nonprofit organization, is dedicated to assisting the residents of Mercer County, Pennsylvania. Its mission is centered around providing housing solutions, encompassing both home ownership and low-income affordable housing. The organization undertakes various activities to accomplish this goal, including the development, ownership, and management of low-income housing properties. This commitment to housing ensures that individuals in need have access to suitable living spaces, thereby contributing positively to their quality of life.
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Impact
August, 2024
Community Homebuyers Inc has a significant impact on Mercer County, Pennsylvania by providing housing opportunities to its residents, including home ownership and low-income affordable housing through initiatives such as the development, ownership, and management of properties like Mercer Housing LLC. Their mission to assist the people of Mercer County in accessing adequate housing plays a crucial role in addressing housing needs and promoting community stability.
This information is meant to be a general summary of Community Homebuyers 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: -$17,813
- Program Service Revenue: $90,884
- Gross Receipts: $103,965
Assets and Liabilities:
- Total Assets: $1,111,339
- Total Liabilities: $1,488,839
- Net Assets: -$377,500
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$90,884
Organization Details
Founding Year
1998
Phone
(724) 342-4000Principal Officer
Holly Nogay
Main Address
80 JEFFERSON AVENUE, SHARON, PA, 16146
NTEE Category
Code: L20 - Housing
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