Overview
What is Family Housing Developers Inc?
Family Housing Developers Inc, based in Cincinnati, Ohio, is a dedicated nonprofit organization that specializes in the development of affordable rental housing for lower-income families and households with children. Established in accordance with the National Housing Act and various federal, state, and local programs, the organization has completed two residential developments consisting of single-family homes and townhouses in the 1990s, with additional renovations in 2018. These developments are funded by Low Income Tax Credits, catering to families with limited financial resources. The primary mission of Family Housing Developers Inc remains to provide suitable housing and contribute to the community in the Greater Cincinnati area.
Official website here: www.none
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%, Four-Star out of Four Star rating
Family Housing Developers Inc has earned a commendable Four-Star rating by Charity Navigator, indicating strong performance in accountability and finance. This rating reflects the organization's commitment to transparency and effective financial management, derived entirely from its accountability metrics for the most recent fiscal year, FY2022.
The organization showcases several strengths, including a fully independent board composed of six members, which enhances governance and decision-making. With no material diversion of assets reported and a high program expense ratio of 84.16%, Family Housing Developers demonstrates a significant focus on directing funds toward its mission, effectively utilizing resources to support its programs.
However, one area of concern is the absence of a whistleblower policy, which is a critical component of organizational governance for protecting stakeholders. Despite this limitation, the overall financial health and accountability practices of Family Housing Developers Inc suggest it is a well-managed nonprofit dedicated to its cause.
This AI summary has been generated from information found on Charity Navigator.
Is Family Housing Developers Inc legitimate?
Family Housing Developers Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Family Housing Developers 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:
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Official website here: www.none
What is the mission statement of Family Housing Developers Inc?
Family Housing Developers Inc's mission is centered around providing affordable rental housing for lower income families in a specific area. They operate in accordance with the National Housing Act and various federal, state, and local programs related to housing construction and rehabilitation. The organization's primary goal is to purchase, manage, promote, develop, and operate affordable housing units, catering to families with children and other low-income households. Their mission extends to actively participating in the acquisition and operation of affordable housing facilities, thereby contributing to the better living standards of the community.
Official website here: www.none
Who is the CEO of Family Housing Developers Inc?
Richard Druffel is the Principal Officer of Family Housing Developers Inc.
Official website here: www.none
What is the revenue of Family Housing Developers Inc?
Family Housing Developers Inc's revenue in 2022 was $12,751.
Official website here: www.none
Who are the executives of Family Housing Developers Inc and what are their salaries?
There 6 volunteers at Family Housing Developers Inc.
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Official website here: www.none
Learn more at the official website: www.none
Mission Statement of Family Housing Developers Inc
Family Housing Developers Inc, as a nonprofit organization, is dedicated to providing affordable rental housing for lower income families in the greater Cincinnati area. Their mission, in accordance with the National Housing Act and various federal, state, and local programs, involves constructing and rehabilitating housing units. The organization is committed to serving families with children and other low-income households by purchasing, promoting, developing, and managing these affordable rental properties. Family Housing Developers Inc operates with the goal of making housing accessible to those who may otherwise struggle to afford it, contributing to a more equitable living environment in their community.
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Impact
August, 2024
Family Housing Developers Inc's impact lies in its dedication to developing affordable rental housing for lower-income families in the Greater Cincinnati area. By completing two residential developments totaling 25 dwelling units, including single-family homes and townhouses, the organization has directly addressed the critical need for affordable housing in the community.
Furthermore, the renovation of 14 homes in Springfield Township, Ohio, in 2018 demonstrates Family Housing Developers Inc's commitment to maintaining and improving existing housing stock for low-income families. These developments, which are low-income tax credit units, provide much-needed housing options for families in need.
Overall, Family Housing Developers Inc plays a crucial role in providing housing opportunities for families with children and other low-income households, thereby contributing to the overall well-being and stability of the community in Cincinnati, Ohio.
This information is meant to be a general summary of Family Housing Developers 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: $1
- Gross Receipts: $12,751
Assets and Liabilities:
- Total Assets: $1,300,907
- Total Liabilities: $441,477
- Net Assets: $859,430
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Organization Details
Founding Year
1988
Phone
(513) 241-9400Principal Officer
Richard Druffel
Main Address
215 EAST 9TH STREET 500, CINCINNATI, OH, 45202
Website
www.noneNTEE Category
Code: L20Z - Housing
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