Overview
What is Wakeland Housing And Development Corp?
Wakeland Housing and Development Corp is a California-based not-for-profit organization with a mission to develop and operate quality affordable housing projects. They cater to low-income families, including seniors, and provide educational programs for their tenants. The corporation owns and operates Poinsettiia Parks, LLC, a mobile home park, and affordable housing projects. The operating expenses of these projects consist of utilities, maintenance, taxes, and insurance. Wakeland Housing and Development Corp currently employs 43 individuals, dedicated to fulfilling their mission.
Official website here: www.wakelandhdc.com
What are the reviews and ratings of this charity?
Charity Navigator rates Wakeland Housing And Development Corp with a score of 94%, which translates to a Four-Star out of Four Star rating. This high rating indicates a strong performance in accountability and finance, reflecting the organization's commitment to transparency and effective management. The charity has achieved full marks for having an independent board, financial oversight, and a comprehensive array of policies in place to guide operations.
The nonprofit demonstrates solid financial health, with an impressive program expense ratio of 89.03%, suggesting that the majority of its expenditures directly support its mission. Furthermore, its liabilities to assets ratio is relatively low at 41.98%, indicating stability and prudent financial management. The working capital ratio of 4.66 years also points to a good buffer for operational continuity.
However, the fundraising efficiency ratio of $0.01 indicates that the organization may not be maximizing its fundraising efforts, which could be a consideration for potential donors. While the financial practices are strong, improving fundraising efficiency could enhance overall sustainability. Overall, Wakeland Housing And Development Corp shows a commendable level of accountability and effective resource allocation towards its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Wakeland Housing And Development Corp legitimate?
Wakeland Housing And Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wakeland Housing And 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: $4,505,387
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.wakelandhdc.com
What is the mission statement of Wakeland Housing And Development Corp?
Wakeland Housing and Development Corp is a California-based not-for-profit organization dedicated to developing and managing affordable housing projects. Their mission encompasses creating quality living spaces for low-income families, including seniors, and offering resident education programs. Through the management of properties such as Poinsettia Parks, LLC, and affordable housing projects, Wakeland Housing and Development Corp aims to provide shelter for those in need while fostering educational opportunities for tenants. Their operational expenses cover essentials like utilities, maintenance, and taxes, enabling them to fulfill their commitment to affordable housing.
Official website here: www.wakelandhdc.com
Who is the CEO of Wakeland Housing And Development Corp?
Rebecca Louie is the Board Chair of Wakeland Housing And Development Corp.
Official website here: www.wakelandhdc.com
What is the revenue of Wakeland Housing And Development Corp?
Wakeland Housing And Development Corp's revenue in 2022 was $24,988,463.
Official website here: www.wakelandhdc.com
Who are the executives of Wakeland Housing And Development Corp and what are their salaries?
The average compensation at Wakeland Housing And Development Corp during 2022 was $104,776. There are 43 employees at Wakeland Housing And Development Corp.
Here are 18 key members and their salaries:
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- Compensation: $205,792
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- Other: $25,766
- Compensation: $222,186
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- Other: $23,221
- Compensation: $184,597
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- Other: $18,738
- Compensation: $164,687
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- Other: $17,644
- Compensation: $237,055
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- Compensation: $157,715
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- Other: $14,227
- Compensation: $150,166
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- Other: $10,196
- Compensation: $270,332
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- Other: $14,539
Official website here: www.wakelandhdc.com
Where can I find the form 990 for Wakeland Housing And Development Corp?
Wakeland Housing And Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wakelandhdc.com
Learn more at the official website: www.wakelandhdc.com
Mission Statement of Wakeland Housing And Development Corp
Wakeland Housing and Development Corporation, a California-based not-for-profit organization, is dedicated to developing and operating quality affordable housing projects, catering specifically to low-income families. Their commitment goes beyond just providing affordable housing; they also offer resident-education programs to enhance the lives of their tenants.
Through their endeavors, Wakeland Housing and Development Corporation manages and operates various affordable housing projects, including Poinsettia Parks, LLC. These housing initiatives serve families with low and moderate incomes, including seniors, ensuring they have access to a safe and affordable place to call home. To maintain the living standards and support their residents, the corporation covers operational expenses such as utilities, maintenance, and taxes, as well as insurance.
In addition to providing affordable housing, Wakeland Housing and Development Corporation takes a proactive approach to empower their tenants by offering resident-education programs. These programs aim to create a positive impact and contribute to the overall well-being of the community. By focusing on the development of affordable housing projects and integrating educational initiatives, the corporation effectively addresses the housing needs of low-income families, providing them with a stable foundation to build their lives upon.
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Impact
October, 2024
Wakeland Housing And Development Corp significantly impacts the community by providing quality affordable housing options for low-income families and seniors in California. By owning and operating various affordable housing projects, including a mobile home park, the organization offers essential living spaces that enable residents to thrive despite financial constraints.
In addition to housing, Wakeland places a strong emphasis on resident education programs, empowering tenants with knowledge and resources to improve their financial literacy and quality of life. This holistic approach not only addresses immediate housing needs but also fosters long-term economic stability and community engagement among residents.
Located in San Diego, Wakeland's initiatives contribute to alleviating the housing crisis in the region, ensuring that vulnerable populations have access to safe and affordable living conditions. The organization's efforts are crucial in promoting social equity, enhancing community development, and helping families build a better future.
This information is meant to be a general summary of Wakeland Housing And 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: $435,475
- Program Service Revenue: $13,748,386
- Gross Receipts: $24,988,463
Assets and Liabilities:
- Total Assets: $68,610,015
- Total Liabilities: $33,593,458
- Net Assets: $35,016,557
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER'S FEE
Revenue
$5,932,892
RENTAL INCOME
Revenue
$3,323,036
SHARE OF INCOME-PARTNERSHIP
Revenue
$2,715,302
ASSET MANAGEMENT
Revenue
$1,128,666
RESIDENT SERVICES
Revenue
$648,490
Organization Details
Founding Year
1998
Phone
(619) 235-2296Principal Officer
Rebecca Louie
Main Address
1230 COLUMBIA STREET SUITE 950, SAN DIEGO, CA, 92101
Website
www.wakelandhdc.comNTEE Category
Code: L21 - Housing
If you are a representative of Wakeland Housing And 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.