Overview
What is Western Reserve Housing Development Corporation?
The Western Reserve Housing Development Corporation is a nonprofit organization situated in Warren, Ohio, with a specific focus on improving housing conditions for individuals of limited income, particularly the elderly or infirm. Acting as an auxiliary for the Trumbull Metropolitan Housing Authority (MHA), they aim to construct projects suitable for public housing or charitable purposes, ultimately promoting and ensuring decent, safe, and sanitary living spaces. Their mission extends beyond housing, striving to enhance the quality of life for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 40%, Zero-Star out of Four Star rating.
The Western Reserve Housing Development Corporation has received a low score of 40%, resulting in a Zero-Star rating primarily due to its Accountability & Finance practices. While the organization benefits from a fully independent board and has successfully implemented a conflict of interest policy, its financial metrics reveal significant weaknesses. The organization scored poorly in both the liabilities to assets ratio and the program expense ratio, indicating potential financial instability and underinvestment in its programs.
Despite the strengths related to governance and transparency, the overall financial health of the organization raises concerns. The liabilities to assets ratio at nearly 49% suggests that the organization may be over-leveraged, which can impact its ability to sustain operations and fulfill its mission. Similarly, the program expense ratio of 47.34% signals that less than half of its expenses are directed towards programs, which could limit its effectiveness in serving its community.
In summary, while Western Reserve Housing Development Corporation exhibits strong governance practices, the financial challenges highlighted in its rating may hinder its overall impact and sustainability. Prospective donors and supporters may want to consider these factors when evaluating their contributions to the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Western Reserve Housing Development Corporation legitimate?
Western Reserve Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Western Reserve Housing Development 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Western Reserve Housing Development Corporation?
The Western Reserve Housing Development Corporation is dedicated to furthering decent, secure, and hygienic living spaces for individuals with low income, with a special focus on the elderly or infirm. They serve as a tool for the Trumbull MHA, constructing projects suitable for both public housing needs and charitable purposes. Their objective is to enhance the living conditions of those in need, providing them with housing that meets essential standards of decency, safety, and cleanliness.
Who is the CEO of Western Reserve Housing Development Corporation?
Ronda L Bonekovic is the President of Western Reserve Housing Development Corporation.
What is the revenue of Western Reserve Housing Development Corporation?
Western Reserve Housing Development Corporation's revenue in 2022 was $462,706.
Who are the executives of Western Reserve Housing Development Corporation and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Western Reserve Housing Development Corporation?
Western Reserve Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Western Reserve Housing Development Corporation
Western Reserve Housing Development Corporation, as a nonprofit organization, is committed to enhancing the living conditions of individuals with low income, with a special focus on the elderly or infirm. Its mission is to serve as an instrumentality for the Trumbull Metropolitan Housing Authority, constructing projects that can be utilized for public housing purposes or other charitable endeavors. The primary goal of this corporation is to promote and ensure decent, safe, and sanitary housing for these vulnerable populations, thereby contributing to their overall well-being and quality of life.
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Impact
July, 2024
Western Reserve Housing Development Corporation plays a vital role in promoting and advancing decent, safe, and sanitary housing for persons of low income, particularly the elderly or infirm in Warren, Ohio. By acting as the instrumentality of the Trumbull Metropolitan Housing Authority, it constructs projects that are usable for public housing purposes or other charitable purposes. Through its mission to provide affordable housing options for those in need, Western Reserve Housing Development Corporation has a significant impact on improving the living conditions and quality of life for low-income individuals and vulnerable populations in the community.
This information is meant to be a general summary of Western Reserve Housing Development 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: $62
- Program Service Revenue: $219,512
- Gross Receipts: $462,706
Assets and Liabilities:
- Total Assets: $4,607,563
- Total Liabilities: $2,096,098
- Net Assets: $2,511,465
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Non Dwelling Rent
Revenue
$219,512
Organization Details
Founding Year
2001
Phone
(330) 369-1533Principal Officer
Ronda L Bonekovic
Main Address
4076 Youngstown Rd SE, Warren, OH, 44484
NTEE Category
Code: L20 - Housing
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