Overview
What is Corrigan Neighborhood Association Inc?
Corrigan Neighborhood Association Inc, a nonprofit organization based in Omaha, Nebraska, manages a 34-unit rental project named Corrigan Heights. Operating under Section 207 of the National Housing Act of 1974, the project is subsidized and regulated by the U.S. Department of Housing and Urban Development (HUD), receiving a significant portion of its rent from HUD. The project's primary focus is its Section 207 subsidized loan, while it also benefits from Section 8 assistance payments agreements with HUD. The nonmajor program for the project is its Section 8 rent subsidy, aiming to provide affordable housing options in the Omaha community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Star rating)
The Corrigan Neighborhood Association Inc has received a Two-Star rating from Charity Navigator, indicating an overall score of 67%. This score is solely based on their Accountability & Finance metrics, which evaluate the organization's financial health and transparency. While the association excels in several areas, such as having a fully independent board and a high program expense ratio of 88.05%, their overall performance is hindered by significant liabilities compared to their assets.
The organization has demonstrated strong governance practices, including maintaining thorough board meeting minutes and a well-functioning audit and oversight committee. However, they face challenges in transparency, as they have not provided their tax forms or essential policies related to conflicts of interest and whistleblower protections on their website. These missing elements contribute to their lower score in financial accountability.
In summary, while the Corrigan Neighborhood Association Inc shows promising commitment to program spending and governance, its financial liabilities and lack of publicly available documentation on critical policies limit its overall rating. Addressing these transparency issues could enhance their credibility and support in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Corrigan Neighborhood Association Inc legitimate?
Corrigan Neighborhood Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Corrigan Neighborhood Association 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: $850
For more financial information, click here
What is the mission statement of Corrigan Neighborhood Association Inc?
The Corrigan Neighborhood Association Inc operates a 34-unit rental project, primarily focused on its Section 207 subsidized loan program. This non-profit organization, regulated by the U.S. Department of Housing and Urban Development (HUD), also receives a significant portion of its rent through Section 8 Assistance Payments Agreements with HUD. The organization's non-major program is its Section 8 rent subsidy, aiming to provide affordable housing solutions.
Who is the CEO of Corrigan Neighborhood Association Inc?
Lisa Clapp Darland Properties is the Member of Corrigan Neighborhood Association Inc.
What is the revenue of Corrigan Neighborhood Association Inc?
Corrigan Neighborhood Association Inc's revenue in 2022 was $700,686.
Who are the executives of Corrigan Neighborhood Association Inc and what are their salaries?
Here are 6 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Corrigan Neighborhood Association Inc?
Corrigan Neighborhood Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Corrigan Neighborhood Association Inc
Corrigan Neighborhood Association, Inc., a nonprofit organization based in Nebraska, runs a rental project comprising 34 units. This project is regulated by the U.S. Department of Housing and Urban Development (HUD) and operates under Section 207 of the National Housing Act of 1974. The organization's primary focus is its Section 207 subsidized loan program, which is further bolstered by Section 8 Assistance Payments Agreements with HUD. A substantial portion of the project's rent comes from HUD. Apart from the major program, Corrigan Neighborhood Association, Inc., also manages a nonmajor program, which is its Section 8 rent subsidy. This subsidy provides additional financial support to help manage the rental costs for eligible residents. Overall, the mission of Corrigan Neighborhood Association, Inc., is to provide affordable housing to its residents, leveraging various government-backed programs to ensure financial sustainability and tenant support.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Corrigan Neighborhood Association Inc's impact can be seen through its ownership and operation of Corrigan Heights, a thirty-four unit rental project in Omaha, Nebraska. This project plays a vital role in providing affordable housing options to the community. Additionally, Corrigan Neighborhood Association Inc's involvement in Section 207 subsidized loans and Section 8 assistance payments agreements with HUD further demonstrates its commitment to ensuring housing affordability and stability for residents. By managing and regulating these programs, the organization helps to address the housing needs of low-income individuals and families in the area.
This information is meant to be a general summary of Corrigan Neighborhood Association 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: $12
- Program Service Revenue: $298,771
- Gross Receipts: $700,686
Assets and Liabilities:
- Total Assets: $414,390
- Total Liabilities: $829,367
- Net Assets: -$414,977
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$298,771
Organization Details
Founding Year
1987
Phone
(402) 827-8234Principal Officer
Lisa Clapp Darland Properties
Main Address
4115 S 133RD STREET, OMAHA, NE, 68137
NTEE Category
Code: L21 - Housing
If you are a representative of Corrigan Neighborhood Association Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.