Overview
What is Homesteading And Urban Redevelopment Corporation?
The Homesteading and Urban Redevelopment Corporation, located in Cincinnati, Ohio, is a nonprofit organization dedicated to addressing blighted properties. Their mission is to revitalize these properties and facilitate their transformation into homes for low-income families. By purchasing blighted properties, the corporation grants ownership to qualified individuals or families upon completion of necessary repairs and a commitment to occupy the property for a minimum of three years. This initiative aims to contribute positively to urban communities by promoting homeownership and improving living conditions for those in need.
Official website here: www.hurccincy.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Homesteading And Urban Redevelopment Corporation has achieved a rating of 81%, reflecting a solid performance primarily in accountability and finance. The organization demonstrates strong financial health, with a program expense ratio of 99.35%, indicating that nearly all its funding is directed toward its mission-related activities. The charity also scores exceptionally well in areas of governance, such as having a fully independent board and comprehensive financial oversight.
The board composition and policies at Homesteading And Urban Redevelopment Corporation are noteworthy, with all board members being independent and various governance policies in place, such as conflict of interest and whistleblower protections. These policies contribute to the organization's transparency and ethical management, which are crucial factors in building donor trust and maintaining effective operations.
However, the charity's liabilities to assets ratio is less favorable at 94.32%, which may signal potential financial risk in terms of leveraging its assets. While overall financial practices are commendable, this aspect may warrant further scrutiny for potential sustainability concerns in the long term. Overall, the organization exhibits strong accountability and is positioned well within its operational framework, despite some financial vulnerability.
This AI summary has been generated from information found on Charity Navigator.
Is Homesteading And Urban Redevelopment Corporation legitimate?
Homesteading And Urban Redevelopment Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homesteading And Urban Redevelopment 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.
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Official website here: www.hurccincy.org
What is the mission statement of Homesteading And Urban Redevelopment Corporation?
The Homesteading and Urban Redevelopment Corporation's mission is centered around rehabilitating blighted properties, with the aim of making them suitable for home ownership by low-income families. This organization takes on the purchase of neglected properties and subsequently transfers ownership to eligible individuals or families, providing them with an opportunity to improve these properties in exchange for a commitment to occupy them for a minimum of three years.
Official website here: www.hurccincy.org
Who is the CEO of Homesteading And Urban Redevelopment Corporation?
Laura Brunner is the Chairperson of Homesteading And Urban Redevelopment Corporation.
Official website here: www.hurccincy.org
What is the revenue of Homesteading And Urban Redevelopment Corporation?
Homesteading And Urban Redevelopment Corporation's revenue in 2022 was $1,575,436.
Official website here: www.hurccincy.org
Who are the executives of Homesteading And Urban Redevelopment Corporation and what are their salaries?
There 7 volunteers at Homesteading And Urban Redevelopment Corporation.
Here are 8 key members and their salaries:
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Official website here: www.hurccincy.org
Where can I find the form 990 for Homesteading And Urban Redevelopment Corporation?
Homesteading And Urban Redevelopment Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hurccincy.org
Learn more at the official website: www.hurccincy.org
Mission Statement of Homesteading And Urban Redevelopment Corporation
The Homesteading And Urban Redevelopment Corporation is committed to rehabilitating neglected properties with the intention of making them suitable for home ownership by low-income families. This mission-driven organization follows a strategy of purchasing blighted properties and subsequently transferring their ownership to eligible individuals or families, on the condition that the recipients carry out necessary repairs and agree to live in the homes for a minimum period of three years. By undertaking such initiatives, the Homesteading And Urban Redevelopment Corporation aims to contribute to the revitalization of affected communities and provide affordable housing opportunities for those in need.
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Impact
October, 2024
Homesteading And Urban Redevelopment Corporation actively transforms blighted properties into viable homes for low-income families in Cincinnati, Ohio. By purchasing derelict properties and facilitating their rehabilitation, the organization helps to revitalize neighborhoods and combat urban decay.
The impact extends beyond mere property improvement; it creates pathways to home ownership for qualified individuals and families. These residents participate in repair initiatives, fostering a sense of community and investment in their surroundings. As part of the agreement, families commit to occupying the homes for at least three years, which promotes stability and continuity within the community.
Moreover, this initiative enhances property values in the area, mitigates the effects of blight, and contributes to the overall economic health of Cincinnati. The Homesteading And Urban Redevelopment Corporation's work not only addresses housing insecurity but also builds a foundation for a more cohesive and thriving urban environment.
This information is meant to be a general summary of Homesteading And Urban Redevelopment 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.
- Program Service Revenue: $1,401,000
- Gross Receipts: $1,575,436
Assets and Liabilities:
- Total Assets: $824,027
- Total Liabilities: $777,296
- Net Assets: $46,731
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Sale of property
Revenue
$1,401,000
Organization Details
Founding Year
1976
Phone
(513) 621-3000Principal Officer
Laura Brunner
Main Address
3 E 4th St, Cincinnati, OH, 45202
Website
www.hurccincy.orgNTEE Category
Code: L20 - Housing
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