Overview
What is Housing Development Corporation?
Housing Development Corporation is a nonprofit organization situated in Huntington, West Virginia. Their primary mission is to improve and rehabilitate existing housing, providing a safer living environment for low-income, elderly, and disabled individuals and families. Their purpose is to promote and advance decent, safe housing, serving the Cabell-Wayne counties and the surrounding metropolitan area of West Virginia. With a workforce of 122 employees, they strive to ensure these individuals have the opportunity for safe and sanitary housing.
What are the reviews and ratings of this charity?
Charity Navigator Rating 75%
The Housing Development Corporation received a Three-Star out of Four Star rating from Charity Navigator, indicating a moderate level of accountability and finance management. The overall score is based solely on the Accountability & Finance beacon, reflecting a strong commitment to transparency and ethical governance.
Strengths of the organization include a majority independent board, with 66% of board members meeting this criterion, and a high program expense ratio of 78.15%, demonstrating effective allocation of funds towards its mission. Additionally, the organization has a clean audit with no material diversion of assets and a well-defined conflict of interest policy.
However, the organization faces a notable concern with a liabilities to assets ratio of 109.38%, which could indicate financial instability. While the charity showcases strong governance practices, this financial ratio suggests a need for closer scrutiny of its financial health going forward.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Development Corporation legitimate?
Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Development 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $223,650
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,835,056
For more financial information, click here
What is the mission statement of Housing Development Corporation?
The Housing Development Corporation's mission is to promote and advance decent, safe, and sanitary housing for individuals and families of low to moderate income, the elderly, disadvantaged, or infirm. This organization focuses on improving and rehabilitating existing housing in an effort to provide a safe and sanitary living environment for these individuals and families in their respective communities.
Who is the CEO of Housing Development Corporation?
Larry Ellis is the Vice Preside of Housing Development Corporation.
What is the revenue of Housing Development Corporation?
Housing Development Corporation's revenue in 2022 was $3,293,361.
Who are the executives of Housing Development Corporation and what are their salaries?
The average compensation at Housing Development Corporation during 2022 was $16,875. There are 122 employees at Housing Development Corporation.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $104,575
- Other: $0
- Compensation: $0
- Related: $82,870
- Other: $0
- Compensation: $36,205
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Housing Development Corporation?
Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Housing Development Corporation
The Housing Development Corporation, in its mission, strives to promote and advance decent, safe, and sanitary housing for individuals and families of low and moderate income, as well as the elderly, disadvantaged, or infirm. This nonprofit organization aims to improve and rehabilitate existing housing, thereby providing an opportunity for these groups to live in safe and sanitary conditions. By doing so, the Housing Development Corporation contributes to the betterment of their communities, ensuring that vulnerable populations have access to secure and hygienic living spaces.
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Impact
October, 2024
Housing Development Corporation significantly impacts the community by providing and advancing decent, safe housing options for individuals and families in need. Its mission focuses on improving and rehabilitating existing housing, targeting low-income, elderly, and disabled populations. By enhancing living conditions, the organization ensures that these vulnerable groups have the opportunity to live in safe and sanitary homes.
Operating primarily in Cabell and Wayne Counties, as well as the surrounding metropolitan areas of West Virginia, the Housing Development Corporation addresses critical housing needs that often go unmet. This work not only contributes to the physical improvement of neighborhoods but also helps foster stability and dignity for residents facing economic challenges. Through its dedicated efforts, the corporation plays an essential role in promoting equitable housing access and enhancing the overall quality of life for underserved communities.
This information is meant to be a general summary of Housing Development 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.
- Investment Income: $4,735
- Program Service Revenue: $3,479,449
- Gross Receipts: $3,293,361
Assets and Liabilities:
- Total Assets: $6,740,598
- Total Liabilities: $7,372,916
- Net Assets: -$632,318
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$2,598,904
RENTAL INCOME
Revenue
$689,778
SERVICE FEES
Revenue
$142,601
SUBSIDY INCOME
Revenue
$48,166
Organization Details
Founding Year
1997
Phone
(304) 526-4400Principal Officer
Larry Ellis
Main Address
PO BOX 2256, HUNTINGTON, WV, 257232256
NTEE Category
Code: L80 - Housing
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