Overview
What is Community Reinvestment Foundation X Inc?
Community Reinvestment Foundation X Inc, with its headquarters in Plainfield, Indiana, is a dedicated nonprofit organization. Their primary mission is to provide affordable housing for low-income individuals and families. They accomplish this by owning and operating a 94-unit apartment community situated in Indianapolis, Indiana. The rents at this community are regulated and subsidized by the U.S. Department of Housing and Urban Development. This housing solution plays a significant role in ensuring that individuals in need have access to a place they can call home. The property, commonly known as Cloverleaf Apartments Phase III, is a testament to Community Reinvestment Foundation X Inc's commitment toward enhancing living conditions for those who require financial assistance.
Official website here: www.crf.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars
Community Reinvestment Foundation X Inc has received a rating of "Needs Improvement" from Charity Navigator, scoring 73%. This indicates that while the organization demonstrates some strengths in governance, such as a fully independent board and strong financial audits, there are notable areas requiring attention, particularly in accountability practices.
The organization excels in several key metrics, including having eight independent board members and a perfect score for financial statements and audit practices. However, it struggles with transparency as it has not implemented critical policies, including a whistleblower policy and document retention guidelines, which are vital for organizational integrity and accountability.
Additionally, the foundation has issues related to its financial management practices, as evidenced by a low liabilities to assets ratio. While the program expense ratio is excellent, there is room for improvement in overall financial transparency, specifically in making tax forms publicly available online. Addressing these weaknesses could enhance the foundation's standing and effectiveness in the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Community Reinvestment Foundation X Inc legitimate?
Community Reinvestment Foundation X Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Reinvestment Foundation X Inc 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: $124,036
For more financial information, click here
Official website here: www.crf.net
What is the mission statement of Community Reinvestment Foundation X Inc?
Community Reinvestment Foundation X Inc's mission is centered around providing affordable housing solutions for individuals and families with low income. The organization actively works towards achieving this by owning and managing an apartment community, housing 94 units. The rents charged to tenants are regulated and subsidized by the U.S. Department of Housing and Urban Development, ensuring that housing remains within reach for those who need it most. By providing affordable housing, Community Reinvestment Foundation X Inc contributes to fostering inclusive and sustainable communities.
Official website here: www.crf.net
Who is the CEO of Community Reinvestment Foundation X Inc?
David Cooper is the President of Community Reinvestment Foundation X Inc.
Official website here: www.crf.net
What is the revenue of Community Reinvestment Foundation X Inc?
Community Reinvestment Foundation X Inc's revenue in 2023 was $1,148,221.
Official website here: www.crf.net
Who are the executives of Community Reinvestment Foundation X Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $299,012
- Other: $10,103
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.crf.net
Where can I find the form 990 for Community Reinvestment Foundation X Inc?
Community Reinvestment Foundation X Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.crf.net
Learn more at the official website: www.crf.net
Mission Statement of Community Reinvestment Foundation X Inc
Community Reinvestment Foundation X Inc, as a nonprofit organization, is dedicated to providing affordable housing for low-income individuals and families. Their mission is to offer a living space that is financially accessible to those who may not otherwise be able to afford it. To accomplish this, Community Reinvestment Foundation X Inc owns and operates a 94-unit apartment community. The rents charged to the tenants are subsidized and regulated by the U.S. Department of Housing and Urban Development, ensuring that the cost remains affordable for those in need. This commitment to affordable housing allows Community Reinvestment Foundation X Inc to make a significant impact in the lives of many families and individuals, providing them with a secure and comfortable place to call home.
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Impact
October, 2024
Community Reinvestment Foundation X Inc significantly impacts the lives of low-income individuals and families by providing affordable housing options in Indianapolis, Indiana. Through the ownership and operation of a 94-unit apartment community, the foundation meets a crucial need in the community by ensuring access to safe and affordable living spaces.
The rents charged to tenants are subsidized and regulated by the U.S. Department of Housing and Urban Development, which helps alleviate the financial burden faced by those in need. This initiative not only enhances the quality of life for residents but also fosters stability and community growth. By prioritizing affordable housing, Community Reinvestment Foundation X Inc plays a vital role in addressing housing insecurity and promoting economic mobility within the area.
This information is meant to be a general summary of Community Reinvestment Foundation X Inc. 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: $5,143
- Program Service Revenue: $1,143,078
- Gross Receipts: $1,148,221
Assets and Liabilities:
- Total Assets: $1,753,844
- Total Liabilities: $1,848,474
- Net Assets: -$94,630
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INCOME RENTS
Revenue
$1,109,672
OTHER TENANT CHARGES
Revenue
$30,255
MISCELLANEOUS
Revenue
$3,151
Organization Details
Founding Year
1996
Phone
(317) 554-2100Principal Officer
David Cooper
Main Address
2498 PERRY CROSSING WAY 260, PLAINFIELD, IN, 46168
Website
www.crf.netNTEE Category
Code: L21 - Housing
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