Overview
What is Rasa Ii Economic Development Corporation?
Rasa II Economic Development Corporation is a nonprofit organization situated in Colorado Springs, Colorado. Their primary mission is to provide affordable housing options, catering to both families and individuals with disabilities. They accomplish this by managing and operating 72 rental housing units, ensuring that these accommodations remain within reach for those in need. This committed organization plays a vital role in addressing the housing needs of its community, contributing to a more inclusive and equitable living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 67%)
The Rasa Ii Economic Development Corporation has received a "Needs Improvement" rating from Charity Navigator, indicating some strengths and notable areas for growth. The organization excels in accountability and finance, achieving a perfect score in several categories, including independent board composition and oversight of financial statements. With a program expense ratio of approximately 91%, it demonstrates a strong commitment to its mission.
However, the organization faces significant challenges that have impacted its overall rating. Notably, it lacks essential policies, including a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which have contributed to lower scores in governance. Additionally, its liabilities to assets ratio is concerning, reflecting potential financial instability.
Overall, while Rasa Ii Economic Development Corporation shows commendable dedication to its programs and responsible financial oversight, the absence of critical governance policies raises questions about its operational integrity and transparency. Addressing these limitations would be vital for enhancing its performance and reputation in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Rasa Ii Economic Development Corporation legitimate?
Rasa Ii Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rasa Ii Economic 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $90,311
For more financial information, click here
What is the mission statement of Rasa Ii Economic Development Corporation?
The Rasa Ii Economic Development Corporation's mission is centered around providing affordable housing solutions. This organization extends its services to individuals, families, and handicapped individuals, ensuring that everyone has access to suitable living spaces. The corporation achieves this by owning and managing 72 rental housing units, thereby making affordable housing a reality for many.
Who is the CEO of Rasa Ii Economic Development Corporation?
Leslie R White is the President of Rasa Ii Economic Development Corporation.
What is the revenue of Rasa Ii Economic Development Corporation?
Rasa Ii Economic Development Corporation's revenue in 2022 was $876,632.
Who are the executives of Rasa Ii Economic Development Corporation and what are their salaries?
There 4 volunteers at Rasa Ii Economic Development Corporation.
Here are 4 key members and their salaries:
- 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 Rasa Ii Economic Development Corporation?
Rasa Ii Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Rasa Ii Economic Development Corporation
Rasa II Economic Development Corporation, a non-profit organization, is committed to providing affordable housing solutions for individuals, families, and handicapped individuals. Through its mission, the corporation owns and operates 72 rental housing units, aiming to make housing accessible and affordable for these groups. By offering affordable housing, Rasa II Economic Development Corporation contributes to the well-being and stability of its community, providing a crucial service to those in need.
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Impact
October, 2024
The Rasa Ii Economic Development Corporation significantly impacts Colorado Springs by providing affordable housing to individuals, families, and handicapped individuals. By owning and operating 72 rental housing units, it plays a crucial role in addressing housing needs in the community. This initiative not only helps reduce financial burdens for residents but also contributes to social stability and improved quality of life. Access to affordable housing can diminish the risk of crime in neighborhoods, fostering a safer environment for all residents. Overall, the organization's efforts help create a more inclusive and equitable community for those in need.
This information is meant to be a general summary of Rasa Ii Economic 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: $249
- Program Service Revenue: $876,383
- Gross Receipts: $876,632
Assets and Liabilities:
- Total Assets: $2,250,807
- Total Liabilities: $1,772,333
- Net Assets: $478,474
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$876,383
Organization Details
Founding Year
2001
Phone
(303) 442-6380Principal Officer
Leslie R White
Main Address
3625 MARION DRIVE, COLORADO SPRINGS, CO, 80909
NTEE Category
Code: I20 - Crime
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