Overview
What is Urban Development Corporation?
Urban Development Corporation is a nonprofit organization, located at 550 East 50th Place, Chicago, Illinois, dedicated to serving the needs of low-income, elderly, and disabled individuals. With a mission to provide housing and social services, this organization operates a 57-unit project specifically tailored for the elderly. Their efforts extend beyond just housing, as they aim to improve the overall well-being of their residents through various social services. With a workforce of 10 dedicated individuals, Urban Development Corporation continually strives to create an inclusive and supportive environment for its community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Stars)
The Urban Development Corporation has earned a solid Three-Star rating from Charity Navigator, reflecting a score of 75%. This rating is based entirely on the organization's Accountability & Finance metrics, which indicates a strong commitment to transparency and ethical management of funds. A high program expense ratio of 78.97% suggests that the majority of its financial resources are directed toward its mission-related activities.
Key strengths of the organization include a fully independent board of members and a comprehensive audit and oversight committee, both of which contribute to its high accountability score. The presence of a clear conflict of interest policy and meticulous document retention practices further enhances its credibility. Additionally, the organization provides thorough records of board meeting minutes, showcasing an emphasis on governance.
Despite the generally positive rating, there may still be areas for improvement, although specific limitations were not highlighted in the available data. Overall, the Urban Development Corporation demonstrates a strong foundation in financial and administrative practices, which can instill confidence in donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Urban Development Corporation legitimate?
Urban Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Urban 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: $36,840
Professional Fundraising Fees: $0
Other Salaries and Wages: $246,917
For more financial information, click here
What is the mission statement of Urban Development Corporation?
The Urban Development Corporation is dedicated to serving the needs of low-income, elderly, and disabled individuals. Their mission is centered around providing housing and essential social services, aiming to enhance their quality of life. The organization operates a 57-unit project specifically designed for the elderly, demonstrating their commitment to this population segment. Through their efforts, they strive to create an environment that supports the well-being and independence of these vulnerable individuals.
Who is the CEO of Urban Development Corporation?
Alivn Robinson is the Principal Officer of Urban Development Corporation.
What is the revenue of Urban Development Corporation?
Urban Development Corporation's revenue in 2022 was $1,194,928.
Who are the executives of Urban Development Corporation and what are their salaries?
The average compensation at Urban Development Corporation during 2022 was $28,376. There are 10 employees at Urban Development Corporation.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $75
- Related: $0
- Other: $0
- Compensation: $36,840
- Related: $0
- Other: $0
Where can I find the form 990 for Urban Development Corporation?
Urban Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Urban Development Corporation
Urban Development Corporation, as a nonprofit organization, is committed to providing housing and essential social services to low-income elderly and disabled individuals. Their mission is to create an environment that caters to the unique needs of this vulnerable population, ensuring they live with dignity and independence. The corporation operates a 57-unit project specifically designed for the elderly, providing them with a secure and supportive living environment. Beyond housing, Urban Development Corporation also offers various social services to enhance the quality of life for its residents. These services may include assistance with daily tasks, healthcare support, and opportunities for social interaction, enabling these individuals to lead fulfilling lives.
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Impact
October, 2024
The Urban Development Corporation significantly impacts the community by providing essential housing and social services for low-income elderly and disabled individuals in Chicago. By owning and operating a 57-unit residential project, it addresses critical housing needs, ensuring that vulnerable populations have access to safe and affordable living conditions.
Additionally, the organization enhances the quality of life for its residents by offering tailored social services that support their unique needs, fostering independence, and promoting community engagement. This commitment to community improvement not only helps individuals but also contributes to the overall well-being of the neighborhood, creating a more inclusive and supportive environment.
This information is meant to be a general summary of Urban 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: $237
- Program Service Revenue: $1,192,849
- Gross Receipts: $1,194,928
Assets and Liabilities:
- Total Assets: $857,106
- Total Liabilities: $2,448,260
- Net Assets: -$1,591,154
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Net Rental Income
Revenue
$1,192,849
Organization Details
Founding Year
1980
Principal Officer
Alivn Robinson
Main Address
550 East 50th Place, CHICAGO, IL, 60615
NTEE Category
Code: S30 - Community improvement
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