Overview
What is Midlands Housing Trust Fund?
The Midlands Housing Trust Fund is a regional housing trust fund based in Columbia, South Carolina, specifically at 4300 North Main Street, 29203. Its primary mission is to create and preserve affordable housing in the Central Midlands region of South Carolina. The organization achieves this by providing financing and technical assistance to affordable housing projects. The Midlands Housing Trust Fund serves a diverse population, including low to moderate income households, individuals working at low-wage jobs, and individuals with disabilities and other special needs. Established in compliance with the William C Mescher Local Housing Trust Fund Act, the fund was certified as a Community Development Financial Institution (CDFI) by the US Department of Treasury on August 15, 2016. As of the provided information, the organization is represented by a single employee.
Official website here: www.midlandshousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Overall, the Midlands Housing Trust Fund has received a Two-Star out of Four Star rating from Charity Navigator, with an overall score of 60%. This rating reflects some positive aspects, particularly in governance, where the organization has a high percentage of independent board members and demonstrates strong policies for conflict of interest, whistleblower protections, and document retention.
However, the organization shows significant room for improvement in financial management. The program expense ratio is quite low at 49%, indicating that less than half of its expenses go directly towards its mission-driven programs. Additionally, the liabilities to assets ratio is concerning at 28.26%, which raises questions about the financial stability of the organization.
Despite these limitations, the Midlands Housing Trust Fund demonstrates a commitment to transparency and accountability through its comprehensive policies and practices. To enhance its rating in the future, addressing the financial aspects of its operations will be crucial for building donor confidence and improving overall impact.
This AI summary has been generated from information found on Charity Navigator.
Is Midlands Housing Trust Fund legitimate?
Midlands Housing Trust Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Midlands Housing Trust Fund 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: $59,420
For more financial information, click here
Official website here: www.midlandshousing.org
What is the mission statement of Midlands Housing Trust Fund?
The Midlands Housing Trust Fund, as a regional housing trust fund, is committed to creating and preserving the stock of affordable housing. This organization accomplishes this mission by providing financing and technical assistance for affordable housing projects. The Midlands Housing Trust Fund serves low to moderate income households who face challenges in securing housing, including individuals employed at low wage jobs, people with disabilities, and others with special needs. In addition, the fund was certified by the U.S. Department of the Treasury as a Community Development Financial Institution (CDFI) on August 15, 2016.
Official website here: www.midlandshousing.org
Who is the CEO of Midlands Housing Trust Fund?
Jeffrey Allen is the Chair of Midlands Housing Trust Fund.
Official website here: www.midlandshousing.org
What is the revenue of Midlands Housing Trust Fund?
Midlands Housing Trust Fund's revenue in 2022 was $697,145.
Official website here: www.midlandshousing.org
Who are the executives of Midlands Housing Trust Fund and what are their salaries?
The average compensation at Midlands Housing Trust Fund during 2022 was $59,420. There is 1 employee at Midlands Housing Trust Fund.
Here are 11 key members and their salaries:
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- Compensation: $31,500
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Official website here: www.midlandshousing.org
Where can I find the form 990 for Midlands Housing Trust Fund?
Midlands Housing Trust Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.midlandshousing.org
Learn more at the official website: www.midlandshousing.org
Mission Statement of Midlands Housing Trust Fund
The Midlands Housing Trust Fund is dedicated to creating and preserving the stock of affordable housing in a specific region, the Central Midlands. As a regional housing trust fund, it adheres to the guidelines set by the William C. Mescher Local Housing Trust Fund Act. This organization provides financing and technical assistance for affordable housing projects, focusing on low to moderate income households who often struggle to secure housing. These households include individuals who work at low-wage jobs, people with disabilities, and other special needs individuals. In August 2016, the Midlands Housing Trust Fund was recognized as a Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury, further solidifying its commitment to making housing more accessible for those who need it most.
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Impact
July, 2024
Midlands Housing Trust Fund's impact is evident in the creation and preservation of affordable housing in the Central Midlands region of South Carolina. By providing financing and technical assistance to affordable housing projects, the organization addresses the critical need for housing among low to moderate-income households. These efforts benefit individuals working low-wage jobs, people with disabilities, and others facing housing challenges.
Additionally, Midlands Housing Trust Fund was certified as a Community Development Financial Institution by the US Department of Treasury in 2016, highlighting its commitment to community development and ensuring access to affordable housing for those in need. Through its focus on serving vulnerable populations and supporting affordable housing initiatives, Midlands Housing Trust Fund plays a crucial role in improving housing opportunities and fostering economic stability in the region.
This information is meant to be a general summary of Midlands Housing Trust Fund. 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: $1,878
- Program Service Revenue: $63,622
- Gross Receipts: $697,145
Assets and Liabilities:
- Total Assets: $2,506,175
- Total Liabilities: $799,300
- Net Assets: $1,706,875
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MORTGAGE INTEREST INCO
Revenue
$56,222
LOAN ORIGINATION FEE I
Revenue
$7,400
Organization Details
Founding Year
2010
Phone
(803) 764-3976Principal Officer
Jeffrey Allen
Main Address
4300 NORTH MAIN STREET, COLUMBIA, SC, 29203
Website
www.midlandshousing.orgNTEE Category
Code: L20 - Housing
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