Overview
What is Northtown Housing Development Corp?
Northtown Housing Development Corp is a nonprofit organization based in Rancho Cucamonga, California. Established with the goal of revitalizing local communities, it specializes in acquiring, developing, owning, and managing affordable housing properties. The organization directly supports the development and sale of residential properties to eligible individuals, incurring various expenses such as consultant fees, legal fees, salaries, office expenses, and utilities. Additionally, Northtown operates a community service center, incurring related costs like insurance and investment fees. In 2022, the corporation received an in-kind donation of $95,000 to cover the executive director's salary. The primary mission of Northtown is to provide quality affordable housing and contribute to economic development in Southern California.
Official website here: www.northtownhousing.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74%, earning a Two-Star out of Four Star rating.
Northtown Housing Development Corp holds a Two-Star rating from Charity Navigator, reflecting a moderate level of accountability and financial health. The organization demonstrates strong governance practices, with 100% of its board members being independent and robust oversight mechanisms in place. Their commitment to good governance is evidenced by comprehensive policies on conflict of interest and whistleblowing, as well as regular documentation of board meeting minutes.
However, the financial performance of the organization raises some concerns. While they maintain a relatively low liabilities-to-assets ratio at 20.55%, their program expense ratio is notably low at 52.06%, which may indicate that less than half of their expenditures directly support their charitable mission. This could suggest a need for improvement in program spending to enhance the effectiveness of their services.
In summary, Northtown Housing Development Corp exhibits solid governance and transparency but faces challenges in maximizing its program expenses for greater impact. Stakeholders may want to consider these factors when evaluating their contributions or support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Northtown Housing Development Corp legitimate?
Northtown Housing Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northtown Housing Development Corp 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: $580,775
For more financial information, click here
Official website here: www.northtownhousing.com
What is the mission statement of Northtown Housing Development Corp?
The Northtown Housing Development Corp is committed to revitalizing communities and providing quality, affordable housing. Their mission also includes promoting economic development, particularly in Southern California. The organization operates as a nonprofit, acquiring, developing, owning, and managing affordable housing properties. They provide support expenses directly related to the development and sale of residential properties, as well as covering ongoing costs for their community service center. In addition, they receive in-kind donations to cover certain expenses, such as the executive director's salary.
Official website here: www.northtownhousing.com
Who is the CEO of Northtown Housing Development Corp?
Julian Rincon is the President of Northtown Housing Development Corp. The CEO's salary of Northtown Housing Development Corp is $0 and their total compensation is $0.
Official website here: www.northtownhousing.com
What is the revenue of Northtown Housing Development Corp?
Northtown Housing Development Corp's revenue in 2022 was $2,974,145.
Official website here: www.northtownhousing.com
Who are the executives of Northtown Housing Development Corp and what are their salaries?
The average compensation at Northtown Housing Development Corp during 2022 was $26,399. There are 22 employees and 28 volunteers at Northtown Housing Development Corp.
Here are 3 key members and their salaries (Northtown Housing Development Corp's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.northtownhousing.com
Where can I find the form 990 for Northtown Housing Development Corp?
Northtown Housing Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.northtownhousing.com
Learn more at the official website: www.northtownhousing.com
Mission Statement of Northtown Housing Development Corp
Northtown Housing Development Corp, a nonprofit organization, is dedicated to revitalizing communities and providing affordable housing in Southern California. Its mission is multifaceted, encompassing three primary objectives. Firstly, the corporation aims to revitalize communities, working towards their improvement and development. Secondly, Northtown Housing Development Corp is committed to offering high-quality, affordable housing options to individuals in need. Lastly, the organization promotes economic development within the region, contributing to its overall growth and prosperity.
To achieve these objectives, Northtown Housing Development Corp engages in various activities. It acquires, develops, owns, and manages affordable housing properties. Furthermore, the corporation provides support expenses directly related to the development and sale of residential properties to eligible individuals. This includes ongoing operating costs for the Community Service Center, which opened in October 2001. The services provided by Northtown Housing Development Corp extend beyond just housing, as they also cover consultant fees, legal fees, executive director's salary, employment costs, office expenses, telephone expenses, utilities expenses, insurance, investment fees, and various other miscellaneous expenses.
In 2022, Northtown Housing Development Corp received an in-kind donation of $95,000 related to the executive director's salary of the same amount. This support further reinforces the organization's commitment to providing quality and affordable housing, as well as promoting economic development in the communities it serves.
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Impact
October, 2024
Northtown Housing Development Corp plays a vital role in revitalizing the Northtown communities in Southern California by focusing on quality affordable housing and promoting economic development. Through its activities, the organization acquires, develops, owns, and manages affordable housing properties, ensuring that residents have access to safe and cost-effective living options.
In addition to housing, Northtown Housing supports various community initiatives by providing funding for essential services and resources. This includes the operation of a community service center, which enhances the quality of life for residents by offering programs and assistance relevant to their needs.
The impact of Northtown Housing extends beyond just housing availability; it fosters a sense of community and encourages economic growth through development initiatives. By creating stable living environments and contributing to the local economy, Northtown Housing Development Corp significantly enhances the overall well-being of the Northtown communities.
This information is meant to be a general summary of Northtown Housing Development Corp. 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: -$1,390
- Program Service Revenue: $1,405,621
- Gross Receipts: $3,698,454
Assets and Liabilities:
- Total Assets: $9,505,090
- Total Liabilities: $1,954,175
- Net Assets: $7,550,915
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MISCELLANEOUS INCOME
Revenue
$4,056
PARTNERSHIP MGMT FEE
Revenue
$134,008
RENT-LOW INCOME HSG
Revenue
$186,244
RESIDENT SERVICE FEES
Revenue
$1,081,313
Organization Details
Founding Year
1993
Phone
(909) 484-7140Principal Officer
Julian Rincon
Main Address
10071 FERON BLVD, RANCHO CUCAMONGA, CA, 91730
Website
www.northtownhousing.comNTEE Category
Code: L20 - Housing
If you are a representative of Northtown Housing Development Corp and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.