Overview
What is Charles Crest Corporation?
Charles Crest Corporation, established in 1983 as a non-profit organization in Ohio, was primarily founded with the mission to construct, own, and manage a 48-unit apartment community in Rossford, Ohio. Initially named Charles Crest, this project falls under Section 202 of the National Housing Act, which is regulated by HUD in terms of rent charges and operating methods. As of now, the project is operational and serves as affordable housing for its residents.
Official website here: www.mercyhousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 66% (Two-Star out of Four Star rating)
Charles Crest Corporation has received a Two-Star rating from Charity Navigator, indicating some areas of concern regarding its accountability and financial practices. The organization has a score of 66%, which reflects significant strengths in its program expense ratio, achieving 97.17%, meaning that a large majority of its expenses go directly to its programs. However, the lack of independent board members, scoring 0% in that area, raises questions about governance and oversight.
The organization has established several important policies, such as a conflict of interest policy and a whistleblower policy, both of which are well-documented. Additionally, it maintains transparency by listing its website on the tax form and having documented board meeting minutes. However, the absence of an audit committee and the missing tax form on its website diminish its overall score in accountability and finance.
Financially, the organization faces challenges, particularly evident in its liabilities to assets ratio of 156.93%, which does not demonstrate a stable financial standing. This raises potential red flags regarding its long-term solvency and financial health. Overall, while Charles Crest Corporation shows a commendable commitment to its programs, improvements in governance and financial transparency are necessary for better accountability and confidence from donors.
This AI summary has been generated from information found on Charity Navigator.
Is Charles Crest Corporation legitimate?
Charles Crest Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Charles Crest 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: $84,445
For more financial information, click here
Official website here: www.mercyhousing.org
What is the mission statement of Charles Crest Corporation?
Charles Crest Corporation, a non-profit organization, was established with the purpose of constructing, owning, and operating a 48-unit apartment community. This organization was organized under Section 202 of the National Housing Act, with a focus on providing affordable housing. The project, known as Charles Crest, is regulated by the U.S. Department of Housing and Urban Development (HUD) in terms of rental charges and operating methods. The apartment community, currently operating under the name Charles Crest I, is located in Rossford, Ohio.
Official website here: www.mercyhousing.org
Who is the CEO of Charles Crest Corporation?
James Alexander is the President/Director of Charles Crest Corporation.
Official website here: www.mercyhousing.org
What is the revenue of Charles Crest Corporation?
Charles Crest Corporation's revenue in 2022 was $501,075.
Official website here: www.mercyhousing.org
Who are the executives of Charles Crest Corporation and what are their salaries?
Here are 11 key members and their salaries:
- Compensation: $0
- Related: $127,814
- Other: $21,025
- Compensation: $0
- Related: $104,597
- Other: $45,941
- Compensation: $0
- Related: $63,576
- Other: $14,262
- Compensation: $0
- Related: $233,119
- Other: $11,765
- Compensation: $0
- Related: $215,449
- Other: $8,873
- Compensation: $0
- Related: $100,631
- Other: $27,789
- Compensation: $0
- Related: $62,977
- Other: $14,353
- Compensation: $0
- Related: $94,309
- Other: $16,925
- Compensation: $0
- Related: $189,811
- Other: $4,240
- Compensation: $0
- Related: $134,820
- Other: $30,258
- Compensation: $0
- Related: $228,009
- Other: $33,552
Official website here: www.mercyhousing.org
Where can I find the form 990 for Charles Crest Corporation?
Charles Crest Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mercyhousing.org
Learn more at the official website: www.mercyhousing.org
Mission Statement of Charles Crest Corporation
Charles Crest Corporation, a not-for-profit organization, was established with a specific purpose. Its mission was to construct, own, and operate a 48-unit apartment community, named Charles Crest. This project was initiated under Section 202 of the National Housing Act, a regulatory body overseeing rental housing projects, ensuring that rent charges and operating methods are in compliance. The corporation's objective was to provide affordable housing, with the project located and currently operating in Rossford, Ohio. The name of the apartment community is Charles Crest I.
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Impact
July, 2024
Charles Crest Corporation's impact is centered around providing affordable housing through the construction, ownership, and operation of a 48-unit apartment community in Rossford, Ohio. This initiative serves a crucial need in the community by offering housing options regulated by HUD to ensure reasonable rent charges and sustainable operating methods. By fulfilling its mission under Section 202 of the National Housing Act, Charles Crest Corporation contributes to enhancing the quality of life for individuals in Rossford, Ohio, through the provision of stable and affordable housing options.
This information is meant to be a general summary of Charles Crest 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: $1,036
- Program Service Revenue: $175,136
- Gross Receipts: $501,075
Assets and Liabilities:
- Total Assets: $1,588,119
- Total Liabilities: $2,492,362
- Net Assets: -$904,243
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET RENTAL REVENUE
Revenue
$171,271
ANCILLARY SERVICES
Revenue
$2,831
OTHER REVENUE
Revenue
$1,034
Organization Details
Founding Year
1995
Phone
(303) 830-3300Principal Officer
James Alexander
Main Address
1999 BROADWAY SUITE 1000, DENVER, CO, 80202
Website
www.mercyhousing.orgNTEE Category
Code: X22Z - Religion related
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