Overview
What is Commonwealth Agency Inc?
Commonwealth Agency Inc is a nonprofit organization based in Hayden, Idaho. Its primary mission is to promote affordable housing for citizens, particularly targeting individuals and families with income below 80% of the median income as defined by HUD. They achieve this by acquiring, building, developing, leasing, selling, and investing in housing units, both for rental and owner-occupied purposes. These affordable housing units are primarily located in Idaho, Washington, Montana, and adjacent regions. By facilitating access to affordable housing, Commonwealth Agency Inc strives to contribute positively to the lives of a significant portion of the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33% (Zero-Star out of Four Star rating).
Commonwealth Agency Inc has received a low score of 33%, indicative of significant accountability and financial management issues. The score is based on a singular focus on the Accountability & Finance category, where the organization excels in having a fully independent board and no reported diversion of assets. However, it falls short in key areas such as transparency and policy implementation, which significantly impacts its overall rating.
The organization has not made important governance documents available, such as its conflict of interest and whistleblower policies. Furthermore, the absence of its tax form on the nonprofit's website raises concerns about financial transparency. Although the program expense ratio is relatively moderate at 49.78%, other financial metrics, like the liabilities to assets ratio, contribute to the low rating.
Overall, while Commonwealth Agency Inc demonstrates strong independence on its board structure, the lack of essential policies and transparency measures limits its effectiveness and accountability. This raises questions about its operational integrity and could deter potential donors looking for reliable nonprofit organizations to support.
This AI summary has been generated from information found on Charity Navigator.
Is Commonwealth Agency Inc legitimate?
Commonwealth Agency Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Commonwealth Agency 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: $12,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Commonwealth Agency Inc?
Commonwealth Agency Inc's mission is centered around facilitating the availability and access to affordable housing for a significant portion of the population. Specifically, they aim to make 75% of their housing units accessible to individuals or families earning less than 80% of the median income, as defined by HUD. These units can be either rental or owner-occupied, and their efforts primarily focus on communities located in Idaho, Washington, and Montana, as well as their surrounding regions. The organization's primary objective is to provide housing options for those who may not be able to afford or qualify for such housing otherwise. They engage in various activities such as acquiring, building, developing, leasing, selling, and investing in housing for these purposes.
Who is the CEO of Commonwealth Agency Inc?
Walter Downey is the Vice President of Commonwealth Agency Inc.
What is the revenue of Commonwealth Agency Inc?
Commonwealth Agency Inc's revenue in 2022 was $68,363.
Who are the executives of Commonwealth Agency Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $12,000
- 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
Where can I find the form 990 for Commonwealth Agency Inc?
Commonwealth Agency Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Commonwealth Agency Inc
Commonwealth Agency Inc is committed to facilitating the availability and accessibility of affordable housing for all citizens. The organization aims to achieve this by targeting 75% of its units to be occupied by individuals or families earning less than 80% of the median income, as defined by HUD. These units can be either rental or owner-occupied. The mission of Commonwealth Agency Inc is to foster low-income housing and provide housing options to people and families who may not otherwise qualify or afford such housing. The agency engages in activities such as acquiring, building, developing, leasing, selling, and investing in housing for these purposes. By doing so, Commonwealth Agency Inc aims to make a significant impact in improving the living conditions of those in need, contributing to a more equitable society.
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Impact
August, 2024
Commonwealth Agency Inc's impact lies in its commitment to facilitating the availability and access to affordable housing for citizens in communities located in Idaho, Washington, Montana, and contiguous regions. By focusing on providing housing options for individuals and families earning less than 80% of the median income, Commonwealth Agency Inc plays a vital role in addressing the housing needs of low-income individuals who may not qualify or be able to afford adequate housing otherwise. Whether through rental or owner-occupied units, the agency's efforts contribute to creating a more inclusive and sustainable housing environment for those in need.
This information is meant to be a general summary of Commonwealth Agency 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: $26,107
- Program Service Revenue: $42,256
- Gross Receipts: $68,363
Assets and Liabilities:
- Total Assets: $1,209,100
- Total Liabilities: $60,004
- Net Assets: $1,149,096
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEES
Revenue
$42,256
Organization Details
Founding Year
2010
Phone
(208) 772-0108Principal Officer
Walter Downey
Main Address
PO BOX 1478, HAYDEN, ID, 83835
NTEE Category
Code: L21 - Housing
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