Overview
What is Ocof Nonprofit Housing Corporation?
Ocof Nonprofit Housing Corporation, located in Lansing, Michigan, is a dedicated organization that focuses on offering subsidized housing solutions for families with low and moderate incomes. Through the properties it owns, this nonprofit corporation provides a vital service, ensuring affordable housing for many individuals and families in need. The organization's primary mission is to facilitate housing for low-income individuals, demonstrating its commitment to supporting the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 61%)
Ocof Nonprofit Housing Corporation has received a two-star rating from Charity Navigator, indicating a need for improvement. The organization has an overall score of 61%, reflecting strengths in accountability and finance, particularly with a perfect score in program expense ratio, suggesting that all expenses are directed towards program-related activities.
The organization benefits from a fully independent board, which is a positive aspect of its governance structure. It scored well in areas such as the documentation of board meeting minutes and material diversion of assets, indicating a commitment to transparency and proper governance practices. However, the liabilities to assets ratio is a concern, with a score of only 3 out of 15 points, implying potential financial instability that may impact its operations.
Overall, while Ocof Nonprofit Housing Corporation demonstrates strong governance and effective use of funds for programs, it faces challenges in financial sustainability that need to be addressed for improved performance in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Ocof Nonprofit Housing Corporation legitimate?
Ocof Nonprofit Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ocof Nonprofit 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.
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What is the mission statement of Ocof Nonprofit Housing Corporation?
The Ocof Nonprofit Housing Corporation is committed to a mission that revolves around providing housing solutions. Specifically, this mission focuses on serving individuals and families with moderate and low income levels. The corporation achieves this objective by offering subsidized housing options, utilizing properties that it owns for this purpose. This organization's primary goal is to ensure that affordable housing is accessible to a significant portion of the population, thereby contributing to a more equitable living situation for these individuals and families.
Who is the CEO of Ocof Nonprofit Housing Corporation?
Thomas E Woods is the President of Ocof Nonprofit Housing Corporation.
What is the revenue of Ocof Nonprofit Housing Corporation?
Ocof Nonprofit Housing Corporation's revenue in 2022 was $129,891.
Who are the executives of Ocof Nonprofit Housing Corporation and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Ocof Nonprofit Housing Corporation?
Ocof Nonprofit Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ocof Nonprofit Housing Corporation
Ocof Nonprofit Housing Corporation is dedicated to serving individuals and families with modest incomes by providing them with subsidized housing. This nonprofit organization takes pride in its mission to offer housing solutions for those who fall under the low and moderate income brackets. The corporation owns properties that are specifically designed to accommodate these individuals, ensuring they have access to safe and comfortable living spaces. By providing housing, Ocof Nonprofit Housing Corporation aims to contribute to the well-being and stability of its residents, enabling them to focus on other aspects of their lives.
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Impact
October, 2024
Ocof Nonprofit Housing Corporation plays a crucial role in the community by providing subsidized housing to low and moderate-income families in Lansing, MI. By focusing on affordable housing solutions, the organization helps improve the living conditions and overall quality of life for individuals and families who may struggle to find suitable accommodation. The impact is evident in the stability it offers to residents, allowing them to thrive without the burden of excessive housing costs. By ensuring accessible housing options, Ocof fosters a sense of community and contributes to the economic resilience of the area.
This information is meant to be a general summary of Ocof Nonprofit 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.
- Investment Income: $4,325
- Program Service Revenue: $66,735
- Gross Receipts: $129,891
Assets and Liabilities:
- Total Assets: $1,073,478
- Total Liabilities: $710,549
- Net Assets: $362,929
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Tenant paid rents
Revenue
$66,735
Organization Details
Founding Year
2011
Phone
(517) 487-0800Principal Officer
Thomas E Woods
Main Address
421 W Ionia St, Lansing, MI, 48933
NTEE Category
Code: L21 - Housing
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