Overview
What is Southern Indiana Housing Development Corporation?
The Southern Indiana Housing Development Corporation is a nonprofit organization headquartered in Evansville, Indiana. Their primary mission is to offer affordable housing solutions for low-income individuals. The organization's operations and financials are closely tied to managing and maintaining a low-income housing project, which they carry out under a contract with the US Department of Housing, adhering to specific guidelines provided by this department. Their main activity revolves around the provision of housing for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 65% (Two-Star out of Four Stars)
The Southern Indiana Housing Development Corporation has received a rating of 65%, which places it in the Two-Star category. This rating reflects its accountability and finance practices, particularly noting that the organization has a strong governance structure with a fully independent board and no material diversion of assets, indicating good integrity in operational management.
However, the organization has notable weaknesses that impact its overall score. While it excels in program expense ratio, allocating nearly 82% of its budget to programs, it faces challenges with its financial health, particularly a high liabilities to assets ratio of 176.19%. Additionally, it lacks certain essential policies such as a whistleblower policy and has not made its tax forms available on its website, which affects transparency and could raise concerns among potential donors.
Overall, while the Southern Indiana Housing Development Corporation demonstrates solid programmatic spending and governance, its financial liabilities and missing policies suggest areas for improvement that could enhance its accountability and attract more support from the community.
This AI summary has been generated from information found on Charity Navigator.
Is Southern Indiana Housing Development Corporation legitimate?
Southern Indiana Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southern Indiana 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,726
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What is the mission statement of Southern Indiana Housing Development Corporation?
The Southern Indiana Housing Development Corporation is dedicated to providing low-income housing. Their mission is centered around managing and operating a housing project under the stipulations set by the US Department of Housing, with their income and expenditures directly tied to this endeavor. The organization's primary focus is on making affordable housing available to those with limited resources.
Who is the CEO of Southern Indiana Housing Development Corporation?
Erin Fleming is the Board Member of Southern Indiana Housing Development Corporation.
What is the revenue of Southern Indiana Housing Development Corporation?
Southern Indiana Housing Development Corporation's revenue in 2022 was $76,703.
Who are the executives of Southern Indiana Housing Development Corporation and what are their salaries?
Here are 4 key members and their salaries:
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- Other: $0
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Where can I find the form 990 for Southern Indiana Housing Development Corporation?
Southern Indiana Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Southern Indiana Housing Development Corporation
Southern Indiana Housing Development Corporation, abbreviated as SIHDC, is dedicated to providing affordable housing options for individuals with low incomes. This nonprofit organization operates under a contract with the US Department of Housing, and its financial activities are closely tied to the maintenance and operation of this housing project. SIHDC's mission is executed with specific guidelines set by the US Department of Housing, ensuring that the organization adheres to strict standards in providing low-income housing.
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Impact
October, 2024
Southern Indiana Housing Development Corporation plays a crucial role in addressing the housing needs of low-income individuals and families in Evansville, IN. By providing access to affordable housing options, the organization contributes significantly to the well-being of the community, helping residents secure stable living conditions. Its operations are aligned with specific guidelines set forth by the US Department of Housing, ensuring that the housing provided meets essential standards and regulations.
The impact of the corporation extends beyond mere housing; it fosters a sense of community and stability for its residents. By maintaining and managing low-income housing projects, the organization helps alleviate the challenges faced by those with limited financial resources, promoting opportunities for better living conditions and enhancing quality of life. The presence of such housing initiatives is vital for reducing homelessness and providing individuals and families with a foundation from which they can pursue educational and employment opportunities.
In summary, Southern Indiana Housing Development Corporation significantly influences Evansville by improving housing accessibility for low-income residents, ultimately contributing to greater community resilience and support.
This information is meant to be a general summary of Southern Indiana 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: $47
- Program Service Revenue: $35,237
- Gross Receipts: $76,703
Assets and Liabilities:
- Total Assets: $568,393
- Total Liabilities: $923,688
- Net Assets: -$355,295
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT & CHARGES
Revenue
$35,237
Organization Details
Founding Year
2003
Phone
(812) 425-4241Principal Officer
Erin Fleming
Main Address
401 SE 6TH STREET 001, EVANSVILLE, IN, 47713
NTEE Category
Code: L22 - Housing
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