Overview
What is Corning Independent Living Center Inc?
Corning Independent Living Center Inc, located in Pocahontas, Arkansas (1403 Hospital Drive), is a nonprofit organization dedicated to providing housing solutions. The organization has built and operates an apartment complex comprising six units in Corning, Arkansas, following Section 811 of the National Housing Act. Regulated by the Department of Housing and Urban Development, the project adheres to specific rent charges and operational methods. The primary mission of Corning Independent Living Center Inc is to offer suitable living spaces, ensuring that program expenses and corporate expenditures are considered equal.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
Corning Independent Living Center Inc has achieved a notable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. The rating reflects a comprehensive evaluation based solely on their accountability and finance metrics, where the organization scored perfectly in several key areas, such as having a majority of independent board members and policies in place to handle conflicts of interest and whistleblowing.
The nonprofit demonstrates strong governance practices with 71% of its board members being independent and a solid program expense ratio of 74.43%, signifying that a significant portion of its funding goes directly to its programs. The organization also maintains a favorable liabilities to assets ratio at 10.50%, suggesting prudent financial management.
While the data showcases many organizational strengths, the review does not indicate any limitations or areas in need of improvement. Overall, Corning Independent Living Center Inc appears to be a well-managed nonprofit dedicated to its mission of supporting independent living.
This AI summary has been generated from information found on Charity Navigator.
Is Corning Independent Living Center Inc legitimate?
Corning Independent Living Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Corning Independent Living Center 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: $2,676
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,850
For more financial information, click here
What is the mission statement of Corning Independent Living Center Inc?
The Corning Independent Living Center Inc was established with the objective of constructing and managing an apartment complex of six units, adhering to Section 811 of the National Housing Act. The center is regulated by the Department of Housing and Urban Development in terms of rental charges and operational methods. The organization's operations and corporate expenditures are categorized as program expenses. In simpler terms, the Corning Independent Living Center Inc is dedicated to providing affordable housing, overseen by the Department of Housing and Urban Development, with the aim to enhance living conditions while keeping rental costs and operational methods in check.
Who is the CEO of Corning Independent Living Center Inc?
Hassel Patterson is the Vice President of Corning Independent Living Center Inc.
What is the revenue of Corning Independent Living Center Inc?
Corning Independent Living Center Inc's revenue in 2022 was $47,702.
Who are the executives of Corning Independent Living Center Inc and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $104,555
- Other: $0
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- Related: $53,527
- Other: $0
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- Related: $0
- Other: $0
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- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Corning Independent Living Center Inc?
Corning Independent Living Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Corning Independent Living Center Inc
Corning Independent Living Center Inc was established with a mission to construct and manage an apartment complex consisting of six units. This project operates under Section 811 of the National Housing Act, which is overseen by the Department of Housing and Urban Development in terms of rental fees and operational methods. The organization's primary focus is on providing suitable housing solutions, ensuring that the expenditures related to project operations and corporate purposes are considered as program expenses. This mission aims to contribute to the overall betterment of the community by providing affordable housing options.
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Impact
August, 2024
Corning Independent Living Center Inc's impact is focused on providing affordable housing options for individuals in need. The organization operates an apartment complex with 6 units in Corning, Arkansas, under Section 811 of the National Housing Act. This initiative is regulated by the Department of Housing and Urban Development to ensure rent charges and operating methods are compliant.
By offering these housing units, Corning Independent Living Center Inc contributes to addressing the housing needs of the community, especially for those who require affordable options. The organization's efforts help improve the quality of life for individuals by providing a stable and secure living environment.
This information is meant to be a general summary of Corning Independent Living Center 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: $55
- Program Service Revenue: $15,912
- Gross Receipts: $47,702
Assets and Liabilities:
- Total Assets: $271,925
- Total Liabilities: $15,389
- Net Assets: $256,536
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE
Revenue
$15,912
Organization Details
Founding Year
2003
Phone
(870) 892-4547Principal Officer
Hassel Patterson
Main Address
1403 HOSPITAL DRIVE, POCAHONTAS, AR, 72455
NTEE Category
Code: L20 - Housing
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