Overview
What is Chicago Low Income Housing Trust Fund?
The Chicago Low Income Housing Trust Fund is a nonprofit organization based in Chicago, Illinois, with a address at 77 W Washington. Their mission is to help residents living in poverty by providing rent subsidies, ensuring they have access to secure and safe housing. With a workforce of 26 dedicated individuals, this organization supports Chicago residents whose income does not exceed 30 percent of the area median income.
Official website here: www.clihtf.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96% (Four-Star out of Four Star rating).
The Chicago Low Income Housing Trust Fund has achieved a Four-Star rating from Charity Navigator, which indicates a high level of accountability and financial health. With a score of 96%, the organization demonstrates strong management of its resources, showcasing a commitment to transparency and responsible financial practices. The score is primarily based on the charity's Accountability & Finance metrics, which reflect an overall effective operation.
The Trust Fund is distinguished by its governance structure, featuring a board composed entirely of independent members, which promotes unbiased decision-making. It has also scored exceptionally well in key areas such as financial oversight and program expenses, channeling approximately 97.74% of its expenditures directly towards its programs. This focus aligns with its mission to provide support for low-income housing initiatives.
However, while the organization's financial performance is commendable, the summary does not provide information on the impact of its programs or any potential challenges faced in meeting its mission. Prospective donors and stakeholders may want to consider this aspect along with the financial metrics when evaluating the Trust Fund’s overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Chicago Low Income Housing Trust Fund legitimate?
Chicago Low Income Housing Trust Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chicago Low Income Housing Trust Fund 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: $130,547
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.clihtf.org
What is the mission statement of Chicago Low Income Housing Trust Fund?
The Chicago Low Income Housing Trust Fund focuses on assisting residents living in poverty by providing them with secure and safe housing options. Individuals with income levels below 30 percent of the area median income are eligible for assistance. The Trust Fund's mission is to enhance the living conditions of these residents by offering rent subsidies. By doing so, it ensures that low-income Chicago residents have access to affordable housing, contributing to their overall well-being and stability. The Trust Fund's activities aim to create sustainable housing solutions for those most in need.
Official website here: www.clihtf.org
Who is the CEO of Chicago Low Income Housing Trust Fund?
Barry Chatz is the Principal Officer of Chicago Low Income Housing Trust Fund.
Official website here: www.clihtf.org
What is the revenue of Chicago Low Income Housing Trust Fund?
Chicago Low Income Housing Trust Fund's revenue in 2022 was $30,945,728.
Official website here: www.clihtf.org
Who are the executives of Chicago Low Income Housing Trust Fund and what are their salaries?
The average compensation at Chicago Low Income Housing Trust Fund during 2022 was $5,021. There are 26 employees and 10 volunteers at Chicago Low Income Housing Trust Fund.
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Official website here: www.clihtf.org
Where can I find the form 990 for Chicago Low Income Housing Trust Fund?
Chicago Low Income Housing Trust Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.clihtf.org
Learn more at the official website: www.clihtf.org
Mission Statement of Chicago Low Income Housing Trust Fund
The Chicago Low Income Housing Trust Fund is a dedicated organization that strives to help residents living in poverty by providing them with secure, safe, and affordable housing solutions. Those who qualify, with incomes not surpassing 30 percent of the area median income, are the primary beneficiaries of this trust fund.
In essence, the Chicago Low Income Housing Trust Fund's mission is to bridge the housing affordability gap for Chicago's most vulnerable population. By offering rent subsidies, the trust fund allows eligible individuals to access housing that would otherwise be unattainable due to financial constraints. This assistance not only ensures that they have a roof over their heads but also provides a foundation for them to focus on other essential aspects of their lives, such as employment, education, and personal growth.
The trust fund plays a vital role in the community by addressing the housing needs of its low-income residents. By providing subsidies, the organization enables these residents to maintain financial stability and focus on their personal development, ultimately contributing to a stronger and more resilient community.
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Impact
October, 2024
The Chicago Low Income Housing Trust Fund significantly impacts the lives of residents living in poverty by addressing the critical need for affordable housing. By providing rent subsidies to individuals and families with incomes not exceeding 30 percent of the area median income, the Trust Fund ensures that low-income households can secure safe and stable housing. This assistance not only alleviates the financial burdens faced by these residents but also fosters community stability and overall well-being. By focusing on very low-income Chicagoans, the Trust Fund plays a vital role in combating homelessness and promoting equitable access to housing in the city.
This information is meant to be a general summary of Chicago Low Income Housing Trust Fund. 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: $339,383
- Gross Receipts: $30,945,728
Assets and Liabilities:
- Total Assets: $78,317,234
- Total Liabilities: $22,713,284
- Net Assets: $55,603,950
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Organization Details
Founding Year
1989
Phone
(312) 741-1912Principal Officer
Barry Chatz
Main Address
77 W WASHINGTON, CHICAGO, IL, 60602
Website
www.clihtf.orgNTEE Category
Code: L200 - Housing
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