Overview
What is Woodlawn Community Development Corporation?
The Woodlawn Community Development Corporation, situated in Chicago, Illinois, was a nonprofit organization that focused on providing affordable housing for low and moderate-income individuals in the Chicago area. Prior to its Chapter 7 bankruptcy filing, the corporation was successful in offering numerous housing units to the community. Although the organization's financial status is now undergoing a transformation, its primary mission of enriching the lives of Chicago residents through housing remains significant.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Woodlawn Community Development Corporation received a two-star rating from Charity Navigator with an overall score of 71%. This rating reflects several strengths, particularly in their financial management, indicated by a 100% program expense ratio and a zero liabilities to assets ratio, suggesting that the organization is effectively utilizing its resources to support its mission.
However, the organization faces significant challenges in governance and transparency. Notably, it lacks independent board members, which could raise concerns about oversight and accountability. Additionally, there are several issues regarding documentation and public access to records, such as missing board meeting minutes and a lack of posted tax forms on their website.
While the organization has established policies for conflict of interest and whistleblowing, the absence of transparency measures and independent oversight may hinder trust among stakeholders. The overall rating underscores the need for improvements in governance practices to enhance accountability and public confidence in the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Woodlawn Community Development Corporation legitimate?
Woodlawn Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Woodlawn Community 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: $0
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What is the mission statement of Woodlawn Community Development Corporation?
Before its Chapter 7 bankruptcy filing, the Woodlawn Community Development Corporation aimed to offer affordable housing options to eligible residents in the Chicago area. The organization played a significant role in providing numerous housing units to residents in the region. Prior to its financial challenges, the corporation's mission was centered around accommodating individuals with moderate and low incomes.
Who is the CEO of Woodlawn Community Development Corporation?
Sandra E Harris is the Treasurer of Woodlawn Community Development Corporation.
What is the revenue of Woodlawn Community Development Corporation?
Woodlawn Community Development Corporation's revenue in 2023 was -$429,193.
Who are the executives of Woodlawn Community Development Corporation and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Woodlawn Community Development Corporation?
Woodlawn Community Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Woodlawn Community Development Corporation
Woodlawn Community Development Corporation, prior to its Chapter 7 bankruptcy filing, was dedicated to serving the housing needs of low and moderate income residents in the Chicago area. Its mission involved providing these qualified individuals with suitable housing options. The organization successfully managed to provide hundreds of housing units to residents in the Chicago area, fulfilling its commitment to affordable housing.
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Impact
October, 2024
Woodlawn Community Development Corporation significantly impacted the Chicago area by providing hundreds of units of low and moderate-income housing to qualified residents. This crucial support helped address housing needs in the community, ensuring that many individuals and families had access to stable and affordable living conditions. The organization’s efforts contributed to the overall quality of life in the Woodlawn neighborhood, fostering a sense of stability and belonging among its residents.
This information is meant to be a general summary of Woodlawn Community 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: -$844,903
- Gross Receipts: $25,718,687
Assets and Liabilities:
- Total Assets: $13,961,230
- Total Liabilities: $0
- Net Assets: $13,961,230
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Organization Details
Founding Year
1972
Phone
(312) 368-0300Principal Officer
Sandra E Harris
Main Address
105 W Madison St 1100, Chicago, IL, 60602
NTEE Category
Code: L20 - Housing
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