Overview
What is Villa Mercede Community Urban Redevelopment Corporation?
Villa Mercede Community Urban Redevelopment Corporation is a nonprofit organization, situated at 1331 W 70TH STREET, CLEVELAND, OH 44102. Their primary mission is to construct and manage an affordable housing project, specifically designed for the elderly and individuals with disabilities, in compliance with the National Affordable Housing Act. This project adheres to the regulations set by the U.S. Department of Housing and Urban Development (HUD) regarding rent charges and operational methods. The corporation's main objective is to ensure that these vulnerable members of society have access to suitable and affordable living accommodations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Stars)
Villa Mercede Community Urban Redevelopment Corporation has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and finance management. The rating is based entirely on their accountability and finance score, which stands at 75%. This score reflects the organization's commitment to transparency and responsible financial practices, which are essential for building trust with donors and stakeholders.
The organization boasts a fully independent board with 100% of its members meeting independence criteria. Additionally, it has shown strong performance in financial oversight, with aspects like the audit and oversight committee receiving a perfect score. Their program expense ratio is impressive at 93.10%, suggesting that a significant portion of their funds directly supports their programs and initiatives.
There are no reported issues related to asset diversion, and Villa Mercede has established a conflict of interest and whistleblower policy, further reinforcing its commitment to ethical governance. Overall, while the organization has room for improvement in its overall score, the current ratings reflect a well-managed nonprofit focused on community urban redevelopment.
This AI summary has been generated from information found on Charity Navigator.
Is Villa Mercede Community Urban Redevelopment Corporation legitimate?
Villa Mercede Community Urban Redevelopment Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Villa Mercede Community Urban Redevelopment 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.
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What is the mission statement of Villa Mercede Community Urban Redevelopment Corporation?
The Villa Mercede Community Urban Redevelopment Corporation is committed to providing affordable housing for elderly and handicapped individuals. This mission is carried out by constructing and managing a 151-unit apartment project, in accordance with regulations set by the U.S. Department of Housing and Urban Development (HUD). The rent charges and operating methods of these projects are also regulated by HUD. The corporation aims to offer affordable living solutions to vulnerable individuals, ensuring they can maintain a decent standard of life.
Who is the CEO of Villa Mercede Community Urban Redevelopment Corporation?
Charlie Manno is the President of Villa Mercede Community Urban Redevelopment Corporation.
What is the revenue of Villa Mercede Community Urban Redevelopment Corporation?
Villa Mercede Community Urban Redevelopment Corporation's revenue in 2023 was $1,760,210.
Who are the executives of Villa Mercede Community Urban Redevelopment Corporation and what are their salaries?
There 9 volunteers at Villa Mercede Community Urban Redevelopment Corporation.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Villa Mercede Community Urban Redevelopment Corporation?
Villa Mercede Community Urban Redevelopment Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Villa Mercede Community Urban Redevelopment Corporation
Villa Mercede Community Urban Redevelopment Corporation is dedicated to providing affordable housing solutions for elderly and handicapped individuals. In line with its mission, the corporation constructs and operates a 151-unit apartment project under Section 207, as per the National Affordable Housing Act. This project falls under the regulation of the U.S. Department of Housing and Urban Development (HUD), ensuring that rent charges and operating methods adhere to specific guidelines. The corporation's purpose is to create a living space that is both affordable and accessible for those in need, thereby contributing to their overall well-being and independence.
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Impact
October, 2024
Villa Mercede Community Urban Redevelopment Corporation significantly impacts the community by offering affordable housing specifically designed for elderly and handicapped individuals. By constructing and operating a 151-unit apartment complex regulated by the U.S. Department of Housing and Urban Development (HUD), it addresses a critical need for accessible living spaces. This initiative not only enhances the quality of life for its residents but also fosters a sense of community among seniors and those with disabilities, ensuring they have safe and suitable housing options. The corporation's commitment to affordability makes it an essential player in tackling housing challenges within Cleveland, Ohio, promoting inclusivity and stability for vulnerable populations.
This information is meant to be a general summary of Villa Mercede Community Urban Redevelopment 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 2023.
- Investment Income: $35,366
- Program Service Revenue: $540,120
- Gross Receipts: $1,736,657
Assets and Liabilities:
- Total Assets: $2,946,150
- Total Liabilities: $2,762,878
- Net Assets: $183,272
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$540,120
Organization Details
Founding Year
1978
Phone
(216) 360-9441Principal Officer
Charlie Manno
Main Address
1331 W 70TH STREET, CLEVELAND, OH, 44102
NTEE Category
Code: L21Z - Housing
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