Overview
What is Famicos Foundation?
The Famicos Foundation, established in 1969 in Cleveland, Ohio, is a community development corporation with a mission to enhance the quality of life in greater Cleveland. With a team of 54 employees, the foundation focuses on neighborhood revitalization, affordable housing, and integrated social services. One of its significant achievements is developing and preserving historic properties as affordable housing, including the construction of 106 units in Medina County and 348 units in Portage County. Famicos Foundation also offers property management, community building, and engagement activities, such as financial literacy classes, tax assistance, and legal aid services. During the COVID-19 pandemic, the organization continued its efforts to support vulnerable populations and even facilitated vaccine appointments and clinics for eligible residents. The foundation's work in Glenville, Ohio, has been instrumental in revitalizing the community and improving living conditions for its residents.
Official website here: www.famicos.org
What are the reviews and ratings of this charity?
**Famicos Foundation - Charity Navigator Rating: 95% (Four-Star out of Four Star Rating)**
The Famicos Foundation has achieved an impressive score of 95% from Charity Navigator, reflecting a strong focus on accountability and finance. This high rating indicates that the organization has a robust financial structure, demonstrated by its independent board composition and absence of material diversion of assets. The foundation efficiently utilizes a large portion of its revenue for program-related expenses, showcasing its commitment to fulfilling its mission effectively.
Strengths highlighted by the accountability measures include an independent board with 92% of its members being non-affiliated, comprehensive financial oversight, and a clear conflict of interest policy. Additionally, strong fundraising efficiency is noted, with minimal costs incurred to raise funds. These factors reinforce the foundation's reliability and integrity in managing donor resources responsibly.
Unfortunately, specific user reviews from GreatNonprofits could not be fetched, leaving a gap in capturing individual sentiments regarding the Famicos Foundation. However, the strong rating from Charity Navigator suggests a solid reputation in the nonprofit community.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Famicos Foundation?
96% of 15 reviewers on Facebook recommend the Famicos Foundation. Here is a summary of their reviews:
While a significant majority of the reviews are positive, one user expressed serious concerns regarding their experience, claiming that the organization is not trustworthy and fails to deliver on promised services, particularly regarding property management. The negative feedback pointed to difficulties in communication and unfulfilled commitments, which paints a rather negative picture for that individual.
Despite this single voice of dissatisfaction, the overall sentiment is largely favorable, indicating that many find value in the services provided by the Famicos Foundation. This suggests that while there may be isolated experiences of frustration, the organization is perceived positively by most, fulfilling its role within the community.
This AI summary has been generated from reviews found on Facebook.
Is Famicos Foundation legitimate?
Famicos Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Famicos Foundation 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: $3,520,261
For more financial information, click here
Official website here: www.famicos.org
What is the mission statement of Famicos Foundation?
The Famicos Foundation's mission is centered around improving the quality of life in various communities. This is achieved through neighborhood revitalization, affordable housing, and integrated social services. The organization's activities primarily focus on developing affordable housing, especially the preservation of historic properties, and offering social services to support individuals and families in need. The foundation takes a collaborative approach, working with various stakeholders to implement programs aimed at enhancing community living and wellbeing. For instance, they have been instrumental in transforming neglected neighborhoods using a model that integrates affordable housing and health and wellness programs. The foundation also provides resources to assist low-income families, helping them transition from renters to homeowners and offering financial literacy tools.
Official website here: www.famicos.org
Who is the CEO of Famicos Foundation?
John Anoliefo is the Trustee of Famicos Foundation.
Official website here: www.famicos.org
What is the revenue of Famicos Foundation?
Famicos Foundation's revenue in 2022 was $8,009,815.
Official website here: www.famicos.org
Who are the executives of Famicos Foundation and what are their salaries?
The average compensation at Famicos Foundation during 2022 was $48,893. There are 72 employees and 100 volunteers at Famicos Foundation.
Here are 15 key members and their salaries:
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- Other: $20,904
Official website here: www.famicos.org
Where can I find the form 990 for Famicos Foundation?
Famicos Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.famicos.org
Learn more at the official website: www.famicos.org
Mission Statement of Famicos Foundation
The Famicos Foundation, established in 1969, is a community development corporation with a mission to enhance the quality of life in various communities. With a strong belief in neighborhood change coming from the cooperation of local families, the organization's name, "Families in Cooperation," reflects this philosophy. Over the past 53 years, Famicos Foundation has served residents in Cleveland, particularly in the Glenville, Hough, and St. Clair-Superior neighborhoods, with a focus on neighborhood revitalization, affordable housing, and integrated social services.
The mission of Famicos Foundation is to improve the overall living conditions in the communities it serves. Through their efforts, they develop affordable housing, preserving historic properties in the process. In 2014, following changes in ward boundaries and the demise of a local CDC, Famicos Foundation took the lead in serving the Glenville neighborhood. They are also a charter member of NeighborWorks America, a network dedicated to neighborhood revitalization, and have played a significant role in the Glenville Purpose Built Communities program for the past five years. The organization collaborates with various stakeholders, including the Cleveland Metropolitan School District, to implement the Purpose Built Communities model, aiming to transform neighborhoods around an elementary school, making them desirable places to live and raise families.
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Impact
October, 2024
The Famicos Foundation has significantly transformed neighborhoods in Greater Cleveland, particularly in areas like Glenville, Hough, and St. Clair-Superior. By focusing on neighborhood revitalization and affordable housing, it has enhanced the quality of life for countless residents over its 53 years of service.
A cornerstone of its impact is the development and management of affordable housing. The foundation owns or manages 850 units, including 21 partnerships that serve families, seniors, and formerly homeless individuals. Notable projects include the renovation of historic properties and the creation of mixed-use developments that not only provide homes but also stimulate local economies.
Through the Purpose Built Communities model, Famicos has successfully led initiatives that integrate housing with health and wellness programs. Its collaboration with local schools aims to elevate educational opportunities, making neighborhoods more desirable places to live and raise families.
Additionally, the foundation's community-building efforts have been crucial, particularly during challenges like the COVID-19 pandemic. By ensuring access to essential supplies and promoting vaccinations, it has supported vulnerable populations. Initiatives like the Homeownership Resource Center empower low- and moderate-income families, offering financial literacy and counseling to facilitate their journey towards home ownership.
The Famicos Tax Lab, part of the Earned Income Tax Credit Cuyahoga Coalition, has consistently performed well, preparing thousands of tax returns annually for low-income families at no cost, thereby increasing their financial stability.
Legal support through the Famicos Cares: LegalWorks program has enabled many individuals to expunge minor offenses, broadening their employment opportunities and enhancing their quality of life.
The foundation's holistic approach includes addressing health disparities through community health education, youth engagement programs, and environmental initiatives like community gardens. By prioritizing youth development and job readiness, Famicos creates pathways for young people to thrive.
Overall, the Famicos Foundation exemplifies effective community development by fostering collaboration, driving sustainable housing solutions, and improving the overall health and well-being of Greater Cleveland residents.
This information is meant to be a general summary of Famicos Foundation. 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: -$1,742,856
- Program Service Revenue: $1,987,970
- Gross Receipts: $8,009,815
Assets and Liabilities:
- Total Assets: $56,405,008
- Total Liabilities: $21,536,974
- Net Assets: $34,868,034
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MNGT & DEVELOPMENT FEES
Revenue
$1,649,639
PROGRAM RENTAL
Revenue
$338,331
Organization Details
Founding Year
1970
Phone
(216) 791-6476Principal Officer
John Anoliefo
Main Address
1325 ANSEL ROAD, CLEVELAND, OH, 441061079
Website
www.famicos.orgNTEE Category
Code: L20Z - Housing
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