Overview
What is Community Asset Preservation Corporation?
Community Asset Preservation Corporation is a nonprofit organization situated in New Brunswick, New Jersey. Their mission is to revitalize neighborhoods and safeguard communities by collaborating with municipalities, lenders, and community groups. They aim to transform foreclosed properties, vacant buildings, and abandoned homes into affordable housing. Additionally, they work with lenders to acquire distressed mortgage notes and REOs, preventing properties from becoming community nuisances. By partnering with various community groups, socially-minded for-profit organizations, and community development corporations, they strive to rehabilitate homes and increase the availability of affordable housing.
Official website here: www.newjerseycommunitycapital.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85%
Community Asset Preservation Corporation has received an 85% rating from Charity Navigator, which translates to a Three-Star out of Four Star rating. This score reflects strong performance in accountability and finance, indicating the organization is effectively managing its resources and maintaining transparency in its operations. Their independent board structure and policies, such as conflict of interest and whistleblower policies, contribute positively to their governance.
The organization boasts an impressive program expense ratio of 91.76%, suggesting that a significant portion of its expenditures directly supports its mission. Moreover, they have demonstrated thoroughness by making financial statements and meeting minutes readily available, further enhancing their transparency and accountability to stakeholders.
While the ratings are largely favorable, the summary does not highlight any specific limitations or areas for improvement. Overall, Community Asset Preservation Corporation appears to be a well-managed nonprofit with a strong commitment to financial integrity and community service.
This AI summary has been generated from information found on Charity Navigator.
Is Community Asset Preservation Corporation legitimate?
Community Asset Preservation Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Asset Preservation 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: $2,402,249
For more financial information, click here
Official website here: www.newjerseycommunitycapital.org
What is the mission statement of Community Asset Preservation Corporation?
The Community Asset Preservation Corporation's mission is centered around stabilizing neighborhoods and protecting households at risk of mortgage foreclosures. They aim to transform vacant foreclosed properties into productive use, ensuring an equitable and efficient process. Furthermore, their goal is to increase the availability of affordable housing by collaborating with municipalities, lenders, and community groups. The corporation works with various organizations to revitalize specific areas and rehabilitate homes, ultimately improving the overall community.
Official website here: www.newjerseycommunitycapital.org
Who is the CEO of Community Asset Preservation Corporation?
Bernel Hall is the President & Ceo (Beg. 10/21) of Community Asset Preservation Corporation. The CEO's salary of Community Asset Preservation Corporation is $0 and their total compensation is $57,175.
Official website here: www.newjerseycommunitycapital.org
What is the revenue of Community Asset Preservation Corporation?
Community Asset Preservation Corporation's revenue in 2022 was $5,569,179.
Official website here: www.newjerseycommunitycapital.org
Who are the executives of Community Asset Preservation Corporation and what are their salaries?
There 24 volunteers at Community Asset Preservation Corporation.
Here are 22 key members and their salaries (Community Asset Preservation Corporation's CEO's salary is $0 and their total compensation is $57,175):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $56,557
- Other: $618
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $255,396
- Other: $7,488
- Compensation: $0
- Related: $281,386
- Other: $24,043
- Compensation: $0
- Related: $255,677
- Other: $8,387
- Compensation: $0
- Related: $127,932
- Other: $36,526
- Compensation: $0
- Related: $170,860
- Other: $16,202
- Compensation: $0
- Related: $184,110
- Other: $54,683
- Compensation: $0
- Related: $109,582
- Other: $3,685
- Compensation: $0
- Related: $132,357
- Other: $4,369
- Compensation: $0
- Related: $128,632
- Other: $4,257
- Compensation: $0
- Related: $155,998
- Other: $41,392
- Compensation: $0
- Related: $520,074
- Other: $45,228
Official website here: www.newjerseycommunitycapital.org
Where can I find the form 990 for Community Asset Preservation Corporation?
Community Asset Preservation Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newjerseycommunitycapital.org
Learn more at the official website: www.newjerseycommunitycapital.org
Mission Statement of Community Asset Preservation Corporation
The Community Asset Preservation Corporation, in its mission, aims to stabilize neighborhoods and safeguard households vulnerable to mortgage foreclosures. The organization's primary objective is to transform vacant foreclosed properties, abandoned buildings, and derelict homes into affordable housing. By working closely with municipalities, lenders, and community groups, the corporation seeks to prevent or at least minimize properties from becoming nuisances in communities.
In addition to this, the Community Asset Preservation Corporation collaborates with lenders to acquire distressed mortgage notes and REOs, thus preventing or limiting properties from becoming burdens in communities. The corporation also works with numerous community groups, socially-minded for-profit organizations, and community development corporations to revitalize specific areas and rehabilitate homes. By doing so, the Community Asset Preservation Corporation contributes to the enhancement of neighborhoods and the provision of affordable housing for the community.
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Impact
October, 2024
Community Asset Preservation Corporation has a significant impact on neighborhoods by stabilizing communities and mitigating the risk of household foreclosures. Through proactive engagement with municipalities, lenders, and community organizations, it transforms vacant and foreclosed properties into affordable housing options, effectively addressing housing shortages.
By acquiring distressed mortgage notes and real estate owned (REO) properties, the organization works to prevent these assets from becoming nuisances that diminish neighborhood quality. Its initiatives focus on rehabilitating abandoned homes and revitalizing specific areas, enhancing both the physical environment and the overall community well-being. As a result, the Community Asset Preservation Corporation plays a crucial role in fostering safer, more stable neighborhoods and increasing the availability of affordable housing in New Brunswick, NJ, and beyond.
This information is meant to be a general summary of Community Asset Preservation 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: $2,273,718
- Program Service Revenue: $1,227,006
- Gross Receipts: $8,949,856
Assets and Liabilities:
- Total Assets: $74,988,082
- Total Liabilities: $69,268,186
- Net Assets: $5,719,896
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$998,418
REAL ESTATE DEV. FEES
Revenue
$228,588
Organization Details
Founding Year
2009
Phone
(732) 640-2061Principal Officer
Bernel Hall
Main Address
100 ALBANY STREET SUITE 250, NEW BRUNSWICK, NJ, 08901
NTEE Category
Code: L20 - Housing
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