Overview
What is Mt Auburn Housing Inc?
Mt Auburn Housing Inc, situated in New Albany, Ohio, is a nonprofit organization with a charitable purpose. It operates a housing facility, specifically catering to families and individuals with low and moderate incomes. The organization, under the guidance of Section 8 of the National Affordable Housing Act, provides rental assistance to qualified tenants, ensuring affordability for 54 housing units in Cincinnati, Ohio. By offering these accommodations, Mt Auburn Housing Inc plays a significant role in providing a stable living environment for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, earning a Two-Star out of Four Star rating. Mt Auburn Housing Inc has demonstrated solid accountability and financial practices, particularly with a fully independent board and strong financial oversight. The organization exhibits a high program expense ratio of 95.01%, indicating that a significant portion of its budget is allocated to program services rather than administrative costs, which is a positive sign for donors looking for impactful use of funds.
However, the organization also faces notable limitations that have affected its overall rating. The lack of a whistleblower policy and a document retention and destruction policy raise concerns regarding governance and transparency. Furthermore, the liabilities to assets ratio of 185.22% suggests potential financial instability, which could impact the organization’s ability to sustain its operations in the long term.
Overall, while Mt Auburn Housing Inc has strengths in programmatic spending and governance through its independent board, the missing policies and concerning financial ratios highlight areas needing improvement. This combination of factors contributes to its Two-Star rating and suggests potential donors should weigh these elements carefully.
This AI summary has been generated from information found on Charity Navigator.
Is Mt Auburn Housing Inc legitimate?
Mt Auburn Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mt Auburn Housing 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
What is the mission statement of Mt Auburn Housing Inc?
Mt Auburn Housing Inc, an organization established for charitable purposes, is dedicated to providing housing solutions for individuals and families with modest income levels. It owns, manages, and maintains a housing facility to accommodate these households. The organization's primary mission is to offer affordable housing. To make this possible, Mt Auburn Housing Inc receives rental assistance payments under Section 8 of the National Affordable Housing Act, on behalf of qualified tenants, enabling them to reside in its 54 housing units located in Cincinnati, Ohio.
Who is the CEO of Mt Auburn Housing Inc?
Amin A Akbar is the President of Mt Auburn Housing Inc.
What is the revenue of Mt Auburn Housing Inc?
Mt Auburn Housing Inc's revenue in 2023 was $537,790.
Who are the executives of Mt Auburn Housing Inc and what are their salaries?
There 5 volunteers at Mt Auburn Housing Inc.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Mt Auburn Housing Inc?
Mt Auburn Housing Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Mt Auburn Housing Inc
Mt Auburn Housing Inc, a nonprofit organization, is dedicated to serving low and moderate income families. Established with charitable intentions, the organization owns, operates, and maintains a housing facility to provide affordable living spaces. Their mission is to offer housing solutions to those in need, ensuring that qualified families have a secure place to call home. The organization implements Section 8 of the National Affordable Housing Act, providing rental assistance payments to eligible tenants, enabling 54 families in Cincinnati, Ohio to secure housing within their means.
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Impact
July, 2024
Mt Auburn Housing Inc's impact is significant in providing housing for low and moderate-income persons in Cincinnati, Ohio. By offering 54 housing units to families in need, this organization plays a crucial role in addressing the affordable housing crisis in the area. Through Section 8 rental assistance payments, qualified tenants are supported in accessing safe and stable housing, ultimately improving their quality of life and fostering community stability. Mt Auburn Housing Inc's commitment to charitable purposes and the operation of housing facilities for low-income households demonstrates its dedication to making a positive difference in the lives of those it serves.
This information is meant to be a general summary of Mt Auburn Housing 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 2023.
- Investment Income: $603
- Program Service Revenue: $119,580
- Gross Receipts: $537,790
Assets and Liabilities:
- Total Assets: $763,593
- Total Liabilities: $1,414,355
- Net Assets: -$650,762
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTS - NET
Revenue
$119,580
Organization Details
Founding Year
1994
Phone
(513) 241-4504Principal Officer
Amin A Akbar
Main Address
PO BOX 535, NEW ALBANY, OH, 43054
NTEE Category
Code: L20 - Housing
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