Overview
What is Twin Cities Habitat For Humanity Inc?
Twin Cities Habitat for Humanity Inc is a St. Paul-based nonprofit organization dedicated to creating and preserving affordable homeownership for low- to moderate-income families in the Twin Cities area. The organization fosters long-term success for its clients by providing one-on-one financial coaching, training courses, post-purchase support, and affordable mortgages through its subsidiary business, TCHFH Lending, Inc. Philanthropic donations and other support ensure the mortgage remains affordable for the homebuyer. Twin Cities Habitat for Humanity has a mission to bring people together to create, preserve, and promote affordable homeownership and advance racial equity in housing. The organization's initiatives include partnering with families of all backgrounds, with targeted outreach to communities of color, particularly Black households. Since its founding in 1985, over 1,600 families have purchased homes through the program. In FY2022, 387 families participated, with 89 achieving homeownership, 84 graduating from financial coaching, and 129 completing homebuyer education. Twin Cities Habitat for Humanity boasts an annual foreclosure rate under 1%, a testament to their diligent work in preparing families and providing post-purchase support.
Official website here: www.tchabitat.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 99% (Four-Star out of Four Stars)
Twin Cities Habitat For Humanity Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance, with a score of 99. The organization demonstrates a high level of transparency and ethical governance, as evidenced by its fully independent board and robust financial oversight measures. Its program expense ratio of 81.34% indicates that a significant majority of its expenditures are directed towards its mission-related programs.
Strengths of Twin Cities Habitat include a stellar leadership adaptability score of 100 and a strong culture and community score of 93, showcasing its effective management and community engagement efforts. The organization is committed to expanding homeownership opportunities and advancing racial equity, which resonates well with its strategic goals. The efficiency in fundraising, with a cost of just $0.10 to raise a dollar, further highlights its financial prudence.
While the organization shows remarkable financial health and governance practices, the reliance on community engagement and strategic outreach to achieve its goals may present challenges in scaling these efforts. However, the overall performance metrics suggest Twin Cities Habitat For Humanity is effectively addressing housing needs and fostering community development.
This AI summary has been generated from information found on Charity Navigator.
Is Twin Cities Habitat For Humanity Inc legitimate?
Twin Cities Habitat For Humanity Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Twin Cities Habitat For Humanity 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: $948,978
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,117,197
For more financial information, click here
Official website here: www.tchabitat.org
What is the mission statement of Twin Cities Habitat For Humanity Inc?
Twin Cities Habitat for Humanity (TCHFH) is dedicated to creating, preserving, and advocating for affordable homeownership and advancing racial equity in housing. The organization's mission is brought to life through four major initiatives that focus on building and preserving homes in the community, while engaging the community in the critical issues surrounding affordable homeownership. By collaborating with volunteers, donors, and partners, TCHFH strives to make homeownership an attainable reality for families in need and promote racial equity within the housing industry.
Official website here: www.tchabitat.org
Who is the CEO of Twin Cities Habitat For Humanity Inc?
Christopher Coleman is the Board Chair of Twin Cities Habitat For Humanity Inc. The CEO's salary of Twin Cities Habitat For Humanity Inc is $315,963 and their total compensation is $350,889.
Official website here: www.tchabitat.org
What is the revenue of Twin Cities Habitat For Humanity Inc?
Twin Cities Habitat For Humanity Inc's revenue in 2022 was $44,081,313.
Official website here: www.tchabitat.org
Who are the executives of Twin Cities Habitat For Humanity Inc and what are their salaries?
The average compensation at Twin Cities Habitat For Humanity Inc during 2022 was $33,175. There are 213 employees and 6594 volunteers at Twin Cities Habitat For Humanity Inc.
Here are 39 key members and their salaries (Twin Cities Habitat For Humanity Inc's CEO's salary is $315,963 and their total compensation is $350,889):
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Official website here: www.tchabitat.org
Where can I find the form 990 for Twin Cities Habitat For Humanity Inc?
Twin Cities Habitat For Humanity Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tchabitat.org
Learn more at the official website: www.tchabitat.org
Mission Statement of Twin Cities Habitat For Humanity Inc
Twin Cities Habitat for Humanity, a renowned nonprofit organization, is dedicated to creating, preserving, and promoting affordable homeownership and advancing racial equity in housing. The mission of this esteemed institution is twofold: it brings together individuals and communities to foster affordable homeownership opportunities, while simultaneously addressing the critical issue of racial disparities in housing.
Throughout its operations, Twin Cities Habitat for Humanity implements four major program initiatives. These initiatives not only create and preserve affordable homeownership within the community but also engage the community in the discourse surrounding affordable housing. By collaborating with various stakeholders, the organization effectively addresses the complex challenges associated with affordable homeownership and racial equity.
The first program focuses on building and renovating homes for eligible families, providing them with a stable and affordable living environment. The organization's team of skilled volunteers and construction professionals work tirelessly to ensure that each home is built to the highest standards, ensuring that the families who will call it their own have a safe and secure place to call home.
The second program emphasizes the importance of financial education, providing prospective homeowners with the necessary tools and resources to become successful and self-sufficient homeowners. Through workshops and one-on-one counseling, Twin Cities Habitat for Humanity empowers families to make informed decisions about their finances, fostering a sense of financial stability and independence.
Finally, the organization's advocacy initiatives aim to address the systemic issues that perpetuate racial disparities in housing. By engaging in policy advocacy and community outreach, Twin Cities Habitat for Humanity works to create long-lasting change and ensure that all individuals have access to affordable and equitable housing opportunities.
In summary, Twin Cities Habitat for Humanity is a forward-thinking organization that is committed to making a tangible impact on the lives of families in need. Through its various programs, the organization not only provides affordable housing solutions but also empowers individuals and communities to be part of the solution, fostering a more equitable and inclusive housing landscape.
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Impact
October, 2024
Twin Cities Habitat for Humanity Inc. significantly influences the affordable housing landscape in the Twin Cities, working to create, preserve, and promote homeownership while advancing racial equity in housing. Since its inception in 1985, the organization has partnered with over 1,600 low- and moderate-income families, empowering them to achieve stable and affordable homeownership through tailored support.
Key components of their impact include comprehensive financial coaching, homebuyer education courses, and post-purchase assistance, which ensure families are equipped for long-term success. In fiscal year 2022 alone, 387 families benefited from these programs, with 89 achieving homeownership, 84 graduating from financial coaching, and 129 completing homebuyer education.
Twin Cities Habitat for Humanity also prioritizes reaching communities of color, particularly Black households, by targeting outreach efforts to ensure equitable access to homeownership opportunities. Their diligent approach results in an impressive annual foreclosure rate of under 1%, underscoring the effectiveness of their preparation and support for families. Through these initiatives, they foster a stronger, more equitable community, transforming lives and neighborhoods one home at a time.
This information is meant to be a general summary of Twin Cities Habitat For Humanity 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: $638,921
- Program Service Revenue: $12,138,183
- Gross Receipts: $50,133,922
Assets and Liabilities:
- Total Assets: $95,417,664
- Total Liabilities: $29,369,116
- Net Assets: $66,048,548
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOME SALES
Revenue
$10,079,052
IMPUTED MORT INTEREST INC AMORTIZ
Revenue
$2,059,131
Organization Details
Founding Year
1985
Phone
(612) 207-1700Principal Officer
Christopher Coleman
Main Address
1954 UNIVERSITY AVENUE WEST, ST PAUL, MN, 55104
Website
www.tchabitat.orgNTEE Category
Code: L20 - Housing
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