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First 202 Housing Corporation - Xenia Site

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 311070857 ✦ Xenia, OH ✦ Designated as a 501(c)(3)

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Overview

What is First 202 Housing Corporation - Xenia Site?

First 202 Housing Corporation - Xenia Site is a nonprofit organization based in Xenia, Ohio, specifically at 270 Mount Vernon Drive. Their primary mission is to offer affordable and safe housing options for the elderly and disabled, addressing a significant need within the community. The organization operates under Section 202 of the Housing Act of 1959, ensuring that their housing project adheres to fair housing practices. The apartment complex they manage, located in Xenia, provides 65 units for qualified individuals, utilizing a HUD-approved affirmative fair housing marketing plan. The project's purpose is to provide affordable housing for the elderly and disabled, thereby enhancing the livelihoods of those in need.

What are the reviews and ratings of this charity?

Charity Navigator Rating: Needs Improvement, Two-Star out of Four Stars (60%)

First 202 Housing Corporation - Xenia Site has received a "Needs Improvement" rating from Charity Navigator, indicating some significant areas for growth despite several strengths. The organization boasts a high program expense ratio of 76.80%, reflecting its commitment to directing funds towards its core mission. Additionally, it has achieved full scores for its independent board composition and the quality of its financial audits, suggesting a strong governance structure.

However, the organization faces critical challenges, particularly in financial management, as indicated by a liabilities-to-assets ratio of 113.44%. This ratio points to potential financial instability, raising concerns about the sustainability of its operations. Furthermore, First 202 Housing has several missing policies and documents, including a conflict of interest policy, a whistleblower policy, and a document retention policy, which could hinder transparency and accountability.

Overall, while First 202 Housing Corporation demonstrates a commitment to its mission through effective program spending and strong governance elements, it must address its financial vulnerabilities and enhance its policy framework to improve its overall rating and operational effectiveness.


This AI summary has been generated from information found on Charity Navigator.

Is First 202 Housing Corporation - Xenia Site legitimate?

First 202 Housing Corporation - Xenia Site is a legitimate nonprofit organization registered as a 501(c)(3) entity. First 202 Housing Corporation - Xenia Site 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: $0

For more financial information, click here

What is the mission statement of First 202 Housing Corporation - Xenia Site?

The First 202 Housing Corporation's Xenia Site is dedicated to providing affordable housing options for the elderly and disabled. Operating under Section 202 of the Housing Act of 1959, its mission is to offer a safe and comfortable living environment for these individuals. Located in Xenia, Ohio, the corporation provides 65 units of low-income housing, making use of a HUD-approved Affirmative Fair Housing Marketing Plan to ensure qualified individuals can reside there. The corporation's primary goal is to contribute to the well-being of its residents by offering them a suitable living space.

Who is the CEO of First 202 Housing Corporation - Xenia Site?

Carolyn Wright is the Chairperson of First 202 Housing Corporation - Xenia Site.

What is the revenue of First 202 Housing Corporation - Xenia Site?

First 202 Housing Corporation - Xenia Site's revenue in 2022 was $654,551.

Who are the executives of First 202 Housing Corporation - Xenia Site and what are their salaries?

There 2 volunteers at First 202 Housing Corporation - Xenia Site.


Here are 2 key members and their salaries:


Carolyn E Wright (Chairperson)
  • Compensation: $0
  • Related: $0
  • Other: $0
Walt Mcneil (Trustee)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for First 202 Housing Corporation - Xenia Site?

First 202 Housing Corporation - Xenia Site's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of First 202 Housing Corporation - Xenia Site

First 202 Housing Corporation, with a focus on Xenia, is dedicated to providing affordable housing options for the elderly and disabled community. Under Section 202 of the Housing Act of 1959, this nonprofit organization establishes its mission to cater to this specific group of people, ensuring they have safe and affordable living spaces. The apartment complex the corporation manages in Xenia houses 65 units, open for rental to qualified individuals, implementing a HUD-approved affirmative fair housing marketing plan. This plan ensures equal housing opportunities, ensuring no one is excluded based on their age, disability, or other protected characteristics.

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Impact




July, 2024

First 202 Housing Corporation - Xenia Site has made a significant impact by providing affordable and safe low-income housing options for the elderly and disabled individuals in Xenia, Ohio. With 65 units available for rent to qualified individuals, this project has helped address the housing needs of a vulnerable population. By offering housing under Section 202 of the Housing Act of 1959, this initiative aligns with the mission of providing affordable low-income housing to those in need. It has not only improved the quality of life for its residents but also contributed to the overall well-being of the community by ensuring access to suitable housing options.




This information is meant to be a general summary of First 202 Housing Corporation - Xenia Site. 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.

Revenue
$654,551 (2022)
Expenses
$606,067 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $700
  • Program Service Revenue: $201,157
  • Gross Receipts: $654,551

Assets and Liabilities:

  • Total Assets: $2,081,791
  • Total Liabilities: $2,239,899
  • Net Assets: -$158,108

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

ELDERLY APTS RENTS, NE

Revenue

$201,157

Organization Details

Founding Year

1983

Principal Officer

Carolyn Wright

Main Address

270 MOUNT VERNON DRIVE, XENIA, OH, 45385

NTEE Category

Code: L21 - Housing

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