Overview
What is Community Housing Initiative Inc?
Community Housing Initiative Inc is a nonprofit organization, recognized as a public benefit corporation, dedicated to fulfilling charitable and educational purposes in accordance with Section 501(c)(3) of the Internal Revenue Code. Their primary mission is to provide affordable housing for low-income and moderate-income individuals. To achieve this goal, they have entered into a contract with the U.S. Department of Agriculture's Rural Development, which subsidizes six apartment complexes located in Indiana and Arizona. Community Housing Initiative Inc is committed to promoting research, programs, and studies related to housing and urban development, aiming to enhance living conditions for their target demographic.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two Stars, 67%)
Community Housing Initiative Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating a need for improvement in its operational and financial transparency. The organization demonstrates strengths in board independence and financial oversight, scoring well in areas such as the majority of independent board members and having an effective audit and oversight committee. Additionally, a high program expense ratio suggests that a significant portion of its funds is directed towards programs rather than administrative costs.
However, several critical areas require attention. The nonprofit has received zero points for missing essential policies, including conflict of interest, whistleblower, and document retention policies. Furthermore, the absence of its website on the tax form and the lack of online access to its tax documents may hinder transparency and public trust. Lastly, the organization's liabilities to assets ratio reflects financial concerns, indicating it may have substantial financial obligations relative to its assets.
Overall, while Community Housing Initiative Inc has commendable aspects, particularly in governance and program spending, it needs to address significant gaps in its financial practices and transparency policies to enhance its rating and stakeholder confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Community Housing Initiative Inc legitimate?
Community Housing Initiative Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Housing Initiative 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: $143,546
For more financial information, click here
What is the mission statement of Community Housing Initiative Inc?
Community Housing Initiative Inc. is organized with the primary purpose of promoting scientific, educational, and charitable objectives, as outlined in Section 501(C)(3) of the Internal Revenue Code. In line with these goals, the organization is dedicated to providing affordable housing for low-income and moderate-income individuals. Additionally, Community Housing Initiative Inc. engages in research, programs, and studies related to housing and urban development to further enhance their mission. As a public benefit corporation, they strive to contribute positively to their community by providing decent and affordable housing options.
Who is the CEO of Community Housing Initiative Inc?
Mitchell L Walters is the President of Community Housing Initiative Inc.
What is the revenue of Community Housing Initiative Inc?
Community Housing Initiative Inc's revenue in 2022 was $901,699.
Who are the executives of Community Housing Initiative Inc and what are their salaries?
There 4 volunteers at Community Housing Initiative Inc.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- 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 Community Housing Initiative Inc?
Community Housing Initiative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Community Housing Initiative Inc
Community Housing Initiative Inc, a nonprofit organization, is dedicated to promoting scientific, educational, and charitable purposes in accordance with Section 501(c)(3) of the Internal Revenue Code. Their primary focus is to provide decent and affordable housing for low-income and moderate-income individuals. In line with these goals, Community Housing Initiative engages in research, programs, and studies related to housing and urban development. Acting as a public benefit corporation, the organization is committed to contributing positively to its community by facilitating access to affordable housing and conducting relevant studies in the field.
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Impact
October, 2024
Community Housing Initiative Inc significantly impacts the communities it serves by providing affordable housing options specifically for low-income elderly and disabled individuals. With six apartment complexes situated in Indiana and Arizona, the organization addresses critical housing needs, ensuring that vulnerable populations have access to safe, decent living conditions.
By collaborating with the U.S. Department of Agriculture Rural Development, the initiative effectively subsidizes housing costs, making it financially feasible for those who might otherwise struggle to secure stable accommodation. This commitment to affordable housing not only enhances the quality of life for residents but also fosters community stability and dignity among individuals who may face economic challenges.
Moreover, the initiative contributes to broader social goals by promoting research and development in housing and urban development. Through its educational and charitable activities, it seeks to advance understanding and solutions related to housing issues, further amplifying its impact in the field and influencing policy and practice in affordable housing. Overall, Community Housing Initiative Inc plays a vital role in alleviating homelessness and ensuring that essential housing services are accessible to those in need.
This information is meant to be a general summary of Community Housing Initiative 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 2022.
- Investment Income: $20
- Program Service Revenue: $433,360
- Gross Receipts: $901,699
Assets and Liabilities:
- Total Assets: $1,881,753
- Total Liabilities: $3,125,223
- Net Assets: -$1,243,470
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT AND CHARGE
Revenue
$433,360
Organization Details
Founding Year
1998
Phone
(317) 834-4756Principal Officer
Mitchell L Walters
Main Address
8 SOUTH MAIN STREET SUITE 101, WHITESTOWN, IN, 46075
NTEE Category
Code: L20 - Housing
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