Overview
What is Red Bank Affordable Housing Corporation?
Red Bank Affordable Housing Corporation is a dedicated nonprofit organization situated in Red Bank, New Jersey. With a modest team of two employees, their primary mission is to develop and manage housing solutions for families with low and moderate incomes. They play an essential role in verifying the eligibility of these families, ensuring they gain access to the housing they need. By offering housing options and facilitating eligibility assessments, this organization contributes significantly to the local community, making housing more accessible and affordable for numerous families.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73% (Two-Star out of Four Star rating).
The Red Bank Affordable Housing Corporation has received a 73% rating from Charity Navigator, which indicates a moderate level of accountability and transparency. While the organization excels in areas such as having a fully independent board and a strong program expense ratio, it falls short in several key governance practices, including missing policies on conflicts of interest, whistleblower protections, and document retention.
Strengths of the organization include a perfect score in their liabilities to assets ratio, showcasing financial stability, and a clear commitment to program expenses, which suggests a focus on their mission of providing affordable housing. However, the lack of basic governance policies and transparency measures could raise concerns among potential donors and stakeholders about the organization’s operational integrity.
Overall, while Red Bank Affordable Housing Corporation demonstrates solid financial management and governance in certain areas, its failure to implement essential policies for accountability may hinder its overall assessment. Stakeholders may want to consider these limitations when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Red Bank Affordable Housing Corporation legitimate?
Red Bank Affordable Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Red Bank Affordable Housing Corporation 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: $36,000
For more financial information, click here
What is the mission statement of Red Bank Affordable Housing Corporation?
Red Bank Affordable Housing Corporation is dedicated to developing and managing housing options for families with low and moderate incomes. Their mission extends beyond just providing housing; they also assist in certifying eligible families for such housing. By doing so, they aim to contribute to a more inclusive housing market, ensuring that a wider range of income groups have access to comfortable living spaces. Their activities involve not only the development and management of these properties but also the confirmation of eligibility for potential residents, ensuring that the housing is allocated fairly and effectively.
Who is the CEO of Red Bank Affordable Housing Corporation?
Pastor Terrence Porter is the Principal Officer of Red Bank Affordable Housing Corporation.
What is the revenue of Red Bank Affordable Housing Corporation?
Red Bank Affordable Housing Corporation's revenue in 2022 was $16,550.
Who are the executives of Red Bank Affordable Housing Corporation and what are their salaries?
The average compensation at Red Bank Affordable Housing Corporation during 2022 was $18,000. There are 2 employees and 9 volunteers at Red Bank Affordable Housing Corporation.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Red Bank Affordable Housing Corporation?
Red Bank Affordable Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Red Bank Affordable Housing Corporation
Red Bank Affordable Housing Corporation is dedicated to serving low and moderate income families by developing and managing housing units for them. Beyond this, the organization plays a crucial role in assisting eligible families in securing housing within this income bracket. By involving themselves in the confirmation of each participant's eligibility, Red Bank Affordable Housing Corporation ensures that those who truly need affordable housing have access to it. This mission is crucial in addressing the housing needs of a significant portion of the population and contributes to the overall well-being of these families. The corporation's efforts in developing and managing housing, as well as aiding in eligibility confirmation, make a significant impact in providing a stable living environment for low and moderate income families.
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Impact
August, 2024
Red Bank Affordable Housing Corporation's impact is significant in providing housing solutions for low and moderate-income families in Red Bank, NJ. They play a crucial role in developing and managing housing options for those in need, as well as assisting in certifying eligible families for low and moderate-income housing opportunities. By focusing on this mission, they contribute to addressing the housing needs of vulnerable populations and promoting community development in the area.
This information is meant to be a general summary of Red Bank Affordable Housing Corporation. 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.
- Program Service Revenue: $16,550
- Gross Receipts: $16,550
Assets and Liabilities:
- Total Assets: $5,043
- Total Liabilities: $0
- Net Assets: $5,043
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Organization Details
Founding Year
2008
Phone
(201) 943-4449Principal Officer
Pastor Terrence Porter
Main Address
172 SHREWSBURY AVENUE, RED BANK, NJ, 07701
NTEE Category
Code: L21 - Housing
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