Overview
What is Cal-Met Development Inc?
Cal-Met Development Inc is a nonprofit organization situated in Chicago, Illinois, with a specific focus on providing affordable housing for elderly and disabled individuals. Their mission is accomplished through a 76-unit housing project known as Cal-Met Village Apartments. This project aims to offer a suitable living environment for this particular demographic, ensuring they can maintain a dignified and comfortable lifestyle.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (64%, Two-Star out of Four Star rating)
Cal-Met Development Inc has received a rating of "Needs Improvement" from Charity Navigator, indicating that while the organization demonstrates strong financial management, there are significant concerns regarding its governance structure. The organization has achieved a perfect score in the Accountability & Finance category, which reflects good practices in financial oversight. However, the absence of independent board members raises questions about the effectiveness of its governance.
The nonprofit shows a solid program expense ratio of 92.03%, signifying that it invests a substantial majority of its resources in programmatic activities. Additionally, it has no material diversion of assets, which is a positive indicator of financial integrity. Nonetheless, the organization fails to meet expectations in key governance areas, such as having independent board members and posting essential financial documents on its website.
Furthermore, while Cal-Met has policies in place for conflict of interest and whistleblower protections, the lack of transparency due to missing financial statements on its website limits stakeholders' ability to evaluate the organization fully. The liabilities to assets ratio indicates potential financial risk that should be addressed. Overall, while Cal-Met Development Inc excels in certain financial metrics, it needs to strengthen its governance practices and increase transparency to improve its rating.
This AI summary has been generated from information found on Charity Navigator.
Is Cal-Met Development Inc legitimate?
Cal-Met Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cal-Met Development 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: $205,800
For more financial information, click here
What is the mission statement of Cal-Met Development Inc?
Cal-Met Development Inc's mission is centered around providing affordable housing for elderly and disabled individuals. This is accomplished through a 76-unit housing project, known as Cal-Met Village Apartments. The organization's primary goal is to ensure that these vulnerable groups have access to suitable living accommodations. Their activities are geared towards addressing the housing needs of these individuals, promoting their overall well-being.
Who is the CEO of Cal-Met Development Inc?
Gary Brooks is the President of Cal-Met Development Inc.
What is the revenue of Cal-Met Development Inc?
Cal-Met Development Inc's revenue in 2022 was $1,496,890.
Who are the executives of Cal-Met Development Inc and what are their salaries?
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Cal-Met Development Inc?
Cal-Met Development Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cal-Met Development Inc
Cal-Met Development Inc, a nonprofit organization, is dedicated to providing affordable housing for elderly and disabled individuals. Their mission is realized through the construction and operation of Cal-Met Village Apartments, a 76-unit housing project. This project aims to offer a comfortable living space for those who may face financial challenges, ensuring that they can maintain their independence and dignity. By providing affordable housing, Cal-Met Development Inc contributes to the well-being of its residents, enabling them to focus on their daily lives and overall quality of life.
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Impact
October, 2024
Cal-Met Development Inc significantly impacts the Chicago community by providing affordable housing specifically tailored for elderly and disabled individuals. The organization operates the Cal-Met Village Apartments, a project that consists of 76 housing units designed to meet the unique needs of these populations. This initiative not only alleviates housing insecurity but also fosters a supportive environment, allowing residents to live with dignity and independence. By focusing on accessibility and affordability, Cal-Met Development Inc enhances the quality of life for its residents and contributes positively to the broader community dynamics in Chicago.
This information is meant to be a general summary of Cal-Met Development 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: $93
- Program Service Revenue: $1,485,255
- Gross Receipts: $1,496,890
Assets and Liabilities:
- Total Assets: $2,119,574
- Total Liabilities: $4,079,486
- Net Assets: -$1,959,912
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HAP BILLINGS
Revenue
$1,204,763
TENANT RENT
Revenue
$280,492
Organization Details
Founding Year
1988
Phone
(773) 624-5100Principal Officer
Gary Brooks
Main Address
4101 SOUTH CALUMET AVE, CHICAGO, IL, 60653
NTEE Category
Code: L21 - Housing
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