Overview
What is Lanesboro Development Corporation?
Lanesboro Development Corporation is a nonprofit organization situated in Pittsfield, Massachusetts, specifically at 395 South Street, 01201. Their primary mission is to provide affordable housing for individuals with developmental disabilities, ensuring they have a comfortable living space. The organization manages four housing units, each eligible for Section 811 rental assistance. This initiative significantly contributes to the well-being of the disabled community, offering them a safe and supportive environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star Rating
The Lanesboro Development Corporation has received a Three-Star rating from Charity Navigator, reflecting a score of 79%. This rating is derived exclusively from its Accountability & Finance metrics, indicating a strong commitment to financial health and transparency in its operations. The organization showcases a complete roster of independent board members, which contributes positively to its governance framework.
Strengths noted include a high program expense ratio of 80.39%, demonstrating that a significant portion of its activities are directed toward its mission. Policies regarding conflict of interest, whistleblowing, and document retention are well-established, earning full marks in these areas. These strengths suggest that the organization maintains a transparent and accountable structure.
However, a critical limitation is highlighted by the liabilities to assets ratio of 131.79%, which indicates that the organization has more liabilities than assets. This financial situation could raise concerns about its long-term sustainability. Overall, while Lanesboro Development Corporation exhibits strong governance and commitment to its mission, its financial health may require closer scrutiny.
This AI summary has been generated from information found on Charity Navigator.
Is Lanesboro Development Corporation legitimate?
Lanesboro Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lanesboro 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,476
For more financial information, click here
What is the mission statement of Lanesboro Development Corporation?
The Lanesboro Development Corporation is committed to providing low-income housing for individuals with developmental disabilities. In line with this mission, the organization offers four housing units specifically designed for the disabled, under Section 811. Rental assistance is available for each unit, ensuring that the cost remains affordable for the residents. By offering such housing, the corporation aims to provide a secure and suitable living environment for individuals with developmental disabilities, thereby enhancing their quality of life.
Who is the CEO of Lanesboro Development Corporation?
David Cianflone is the President of Lanesboro Development Corporation.
What is the revenue of Lanesboro Development Corporation?
Lanesboro Development Corporation's revenue in 2023 was $47,431.
Who are the executives of Lanesboro Development Corporation and what are their salaries?
There 3 volunteers at Lanesboro Development Corporation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Lanesboro Development Corporation?
Lanesboro Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Lanesboro Development Corporation
Lanesboro Development Corporation is a dedicated organization that works towards providing low-income housing for individuals who are developmentally disabled. Their primary mission is to ensure that these individuals have a safe and comfortable living space, which is a fundamental right for everyone. To accomplish this, the corporation offers four units of housing under Section 811. This provision not only provides a roof over their heads but also includes rental assistance for each unit, making it more accessible for those in need. By offering such housing, Lanesboro Development Corporation is contributing to a more inclusive and equitable society, where everyone, regardless of their abilities, has the opportunity to live with dignity and independence.
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Impact
August, 2024
Lanesboro Development Corporation's impact is evident in the provision of low-income housing for the developmentally disabled in Pittsfield, MA. By offering four units of housing under Section 811, with rental assistance available for each unit, the organization directly addresses the housing needs of this vulnerable population. This commitment to providing affordable and accessible housing plays a crucial role in supporting the well-being and quality of life of individuals with developmental disabilities in the community.
This information is meant to be a general summary of Lanesboro 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 2023.
- Investment Income: $71
- Program Service Revenue: $47,360
- Gross Receipts: $47,431
Assets and Liabilities:
- Total Assets: $712,616
- Total Liabilities: $939,227
- Net Assets: -$226,611
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROJECT RENTAL ASSISTANCE
Revenue
$28,502
RENTAL INCOME
Revenue
$18,858
Organization Details
Founding Year
2006
Phone
(413) 499-4241Principal Officer
David Cianflone
Main Address
395 SOUTH STREET, PITTSFIELD, MA, 01201
NTEE Category
Code: P73 - Human services
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