Overview
What is Low Income Housing Development Corp Of Terre Haute?
Low Income Housing Development Corp of Terre Haute is a nonprofit organization situated in Terre Haute, Indiana, with a mission to serve the community by offering safe and affordable housing options for families and individuals with low income. The organization operates under charitable and educational purposes, as stated in its internal revenue code, and also extends support to other eligible 501(c)3 organizations. Its primary focus is on providing housing, aiming to enhance the living conditions of those in need.
Official website here: www.terrehautehousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
The Low Income Housing Development Corp of Terre Haute has received a solid rating of 81%, indicating a moderate level of accountability and financial health. The organization demonstrates strong governance with a fully independent board and meticulous oversight of financial statements, as evidenced by perfect scores in several areas such as the audit committee and conflict of interest policy.
Strengths include a high percentage of independent board members and a favorable liabilities-to-assets ratio, which suggests prudent financial management. The organization also adheres to essential governance policies, including whistleblower and document retention practices, ensuring transparency and accountability.
However, the program expense ratio is notably lower at 58.39%, which may raise concerns about the proportion of funds directed towards programs versus administrative costs. This indicates room for improvement in maximizing programmatic spending relative to overall expenses. Overall, the organization appears to be well-managed but could enhance its effectiveness in program delivery.
This AI summary has been generated from information found on Charity Navigator.
Is Low Income Housing Development Corp Of Terre Haute legitimate?
Low Income Housing Development Corp Of Terre Haute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Low Income Housing Development Corp Of Terre Haute 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: $139,570
For more financial information, click here
Official website here: www.terrehautehousing.org
What is the mission statement of Low Income Housing Development Corp Of Terre Haute?
The Low Income Housing Development Corp, as a charitable and educational organization, is dedicated to providing and developing safe and affordable housing for families and individuals of lower income. Its mission extends beyond Terre Haute, as it also makes distributions to other eligible organizations under section 501(c)3 of the Internal Revenue Code. The primary goal is to enhance access to housing for those in need, contributing to their overall well-being.
Official website here: www.terrehautehousing.org
Who is the CEO of Low Income Housing Development Corp Of Terre Haute?
Jeff Stewart is the Board Member of Low Income Housing Development Corp Of Terre Haute.
Official website here: www.terrehautehousing.org
What is the revenue of Low Income Housing Development Corp Of Terre Haute?
Low Income Housing Development Corp Of Terre Haute's revenue in 2022 was $871,795.
Official website here: www.terrehautehousing.org
Who are the executives of Low Income Housing Development Corp Of Terre Haute and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $875
- Other: $0
- Compensation: $0
- Related: $500
- Other: $0
- Compensation: $0
- Related: $625
- Other: $0
- Compensation: $0
- Related: $750
- Other: $0
- Compensation: $0
- Related: $1,125
- Other: $0
- Compensation: $0
- Related: $1,125
- Other: $0
- Compensation: $0
- Related: $750
- Other: $0
- Compensation: $0
- Related: $189,827
- Other: $0
- Compensation: $0
- Related: $90,823
- Other: $0
Official website here: www.terrehautehousing.org
Where can I find the form 990 for Low Income Housing Development Corp Of Terre Haute?
Low Income Housing Development Corp Of Terre Haute's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.terrehautehousing.org
Learn more at the official website: www.terrehautehousing.org
Mission Statement of Low Income Housing Development Corp Of Terre Haute
Low Income Housing Development Corp of Terre Haute, as a charitable organization, is dedicated to serving a noble purpose. Its mission is primarily focused on providing and enhancing safe and affordable housing options for families and individuals of modest income residing in Terre Haute, Indiana. In addition to this, the corporation also extends its support to other charitable organizations that meet the criteria set by the Internal Revenue Code section 501(c)3. The organization's primary goal is to contribute to the betterment of the community by improving housing conditions and providing resources to those in need.
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Impact
October, 2024
Low Income Housing Development Corp Of Terre Haute plays a crucial role in addressing the housing needs of families and individuals with low incomes in Terre Haute, Indiana. By focusing on the development and provision of safe, affordable housing, the organization contributes significantly to the community's socioeconomic stability.
The impact of their work extends beyond simply providing shelter; it fosters a sense of security and dignity for residents, enabling them to pursue employment, education, and other opportunities that can lead to improved quality of life. This initiative not only helps to alleviate the immediate challenges of housing insecurity but also promotes long-term benefits such as healthier living environments and stronger community ties.
Additionally, by collaborating with other organizations that qualify under section 501(c)3 of the Internal Revenue Code, the corporation amplifies its reach and effectiveness, allowing for a more comprehensive approach to community development. Overall, their commitment to safe housing for low-income individuals and families fundamentally enhances the social fabric of Terre Haute, fostering resilience and growth within the community.
This information is meant to be a general summary of Low Income Housing Development Corp Of Terre Haute. 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: $47,973
- Program Service Revenue: $337,818
- Gross Receipts: $871,795
Assets and Liabilities:
- Total Assets: $10,761,853
- Total Liabilities: $2,205,701
- Net Assets: $8,556,152
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$325,645
OTHER TENANT CHARGES
Revenue
$12,173
Organization Details
Founding Year
2009
Phone
(812) 232-1381Principal Officer
Jeff Stewart
Main Address
2001 N 19TH STREET, TERRE HAUTE, IN, 47804
Website
www.terrehautehousing.orgNTEE Category
Code: L99 - Housing
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