Overview
What is Miracit Development Corporation Inc?
Miracit Development Corporation Inc, based in Columbus, Ohio, is a dedicated nonprofit organization with a mission to revitalize its local community. They achieve this by proactively securing funds through contributions, grants, and loans, which are then utilized to enhance housing and develop real estate. The corporation offers affordable rental housing options and engages in construction and rehabilitation projects. Their primary goal is to improve the living conditions in the surrounding neighborhood and cater to the needs of low and moderate-income individuals by developing real estate.
Official website here: www.miracit.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating.
Miracit Development Corporation Inc has received a 73% rating from Charity Navigator, which translates to a Two-Star rating. This score is based entirely on accountability and finance, indicating that while the organization has some strengths, there are areas that need improvement. The rating suggests that the organization is generally transparent and has good governance practices, evidenced by a majority of independent board members and a solid conflict of interest policy.
The nonprofit shows strengths in several areas, including the absence of material diversion of assets and a favorable liabilities to assets ratio of 22.79%. Additionally, the organization maintains a well-documented governance structure, as reflected in their detailed policies and board meeting minutes. However, the lack of publicly available financial statements significantly impacts their score, which is reflected in the zero points received in that category.
Moreover, while the program expense ratio stands at 63.46%, indicating that over half of their expenses are directed towards program services, this performance could be improved. Overall, while Miracit Development Corporation Inc demonstrates a commitment to accountability and sound financial practices, the absence of financial transparency is a notable limitation affecting its overall rating.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Miracit Development Corporation Inc?
94% of 88 reviewers on Facebook recommend Miracit Development Corporation Inc. Here is a summary of their reviews:
Many respondents appreciate the organization's ongoing efforts to support underprivileged children, particularly highlighting their initiative to provide warm coats to those in need. Reviewers applaud the commitment shown by the nonprofit in addressing important community issues, and they feel that the organization effectively delivers on its promise to help vulnerable populations.
Overall, the sentiment is quite positive, showcasing a strong community support for Miracit Development Corporation Inc. The collective endorsement indicates that supporters are satisfied with the services provided and genuinely believe in the mission of the nonprofit.
This AI summary has been generated from reviews found on Facebook.
Is Miracit Development Corporation Inc legitimate?
Miracit Development Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Miracit Development Corporation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.miracit.org
What is the mission statement of Miracit Development Corporation Inc?
Miracit Development Corporation Inc is dedicated to revitalizing its surrounding community. It achieves this mission by actively seeking and utilizing contributions, grants, and loans to enhance housing conditions. The corporation's primary goal is to improve the housing situation in the neighborhood. Additionally, Miracit Development Corporation engages in real estate development, focusing on properties that cater to individuals with moderate and low incomes.
Official website here: www.miracit.org
Who is the CEO of Miracit Development Corporation Inc?
Sharon Davis is the Chairman of Miracit Development Corporation Inc.
Official website here: www.miracit.org
What is the revenue of Miracit Development Corporation Inc?
Miracit Development Corporation Inc's revenue in 2022 was $2,437,135.
Official website here: www.miracit.org
Who are the executives of Miracit Development Corporation Inc and what are their salaries?
There 25 volunteers at Miracit Development Corporation Inc.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $104,000
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $47,201
- Other: $0
- Compensation: $0
- Related: $6,500
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.miracit.org
Where can I find the form 990 for Miracit Development Corporation Inc?
Miracit Development Corporation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.miracit.org
Learn more at the official website: www.miracit.org
Mission Statement of Miracit Development Corporation Inc
Miracit Development Corporation, with a mission to be a proactive catalyst, strives to revitalize its surrounding neighborhood. Established with the goal of obtaining and utilizing contributions, grants, and loans, this organization focuses on improving housing conditions in the area. Beyond just housing, Miracit Development Corporation also engages in real estate development, specifically for low and moderate-income individuals. By implementing these initiatives, the corporation aims to contribute positively to the community, fostering a sense of improvement and growth.
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Impact
October, 2024
Miracit Development Corporation Inc plays a pivotal role in transforming the neighborhoods within Columbus, OH, by serving as a proactive catalyst for revitalization. Its mission focuses on improving housing conditions and developing real estate specifically for low and moderate-income individuals. By securing and utilizing contributions, grants, and loans, Miracit is able to implement programs aimed at enhancing affordable rental housing and rehabilitating existing structures.
The impact of Miracit extends beyond mere housing improvements; it fosters community development, creates job opportunities in construction and rehabilitation, and enhances the overall quality of life in the area. This approach not only addresses immediate housing needs but also contributes to the long-term stability and growth of the neighborhood, promoting a sustainable environment for residents. Through its efforts, Miracit Development Corporation Inc actively shapes a more inclusive and supportive community, ultimately making a meaningful difference in the lives of those it serves.
This information is meant to be a general summary of Miracit Development Corporation 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: $1,157,199
- Program Service Revenue: $359,263
- Gross Receipts: $3,373,436
Assets and Liabilities:
- Total Assets: $1,587,326
- Total Liabilities: $361,773
- Net Assets: $1,225,553
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$329,143
FEE INCOME
Revenue
$30,120
Organization Details
Founding Year
1993
Phone
(614) 471-2202Principal Officer
Sharon Davis
Main Address
2177 MOCK ROAD, COLUMBUS, OH, 43219
Website
www.miracit.orgNTEE Category
Code: L21Z - Housing
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