Overview
What is Chicago Metropolitan Housing Dev Corp?
Chicago Metropolitan Housing Dev Corp, situated in Chicago, Illinois, is a nonprofit organization with a focus on revitalizing, developing, financing, and providing rental properties for individuals with low and moderate incomes. Their mission extends beyond affordability, emphasizing the promotion of mixed-income developments and communities in vulnerable areas facing housing shortages. With a team of six dedicated employees, they work tirelessly to retain and develop properties, incorporating both affordable and market-rate housing options in their projects.
Official website here: www.cmhdc.com
What are the reviews and ratings of this charity?
**Rating: 77% (Three-Star out of Four Star rating on Charity Navigator)**
The Chicago Metropolitan Housing Development Corporation (CMHDC) has received a solid three-star rating based on its Accountability & Finance score of 77%. This rating highlights the organization's strong governance, as evidenced by its fully independent board and comprehensive financial statements audited with no material diversion of assets reported. However, there are areas for improvement, including the lack of a whistleblower policy and failure to publish its tax form on its website.
Strengths noted in CMHDC's rating include full credit for its independent board composition and robust program expenses, indicating a strong commitment to its mission centered on affordable housing. The organization's high program expense ratio suggests that a significant portion of its funds is directed towards its programs rather than administrative costs.
While specific user feedback from GreatNonprofits is unavailable, the overall accountability demonstrated by the organization is promising. Addressing the noted limitations could further enhance their reputation and effectiveness in serving the community.
This AI summary has been generated from information found on Charity Navigator.
Is Chicago Metropolitan Housing Dev Corp legitimate?
Chicago Metropolitan Housing Dev Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chicago Metropolitan Housing Dev Corp 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: $194,955
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.cmhdc.com
What is the mission statement of Chicago Metropolitan Housing Dev Corp?
Chicago Metropolitan Housing Development Corporation (CMHDC) is committed to preserving and developing properties that offer both affordable and market-rate housing. The corporation focuses on areas that are susceptible to affordable housing shortages. In addition to this, CMHDC is involved in the revitalization, development, financing, and rental of low and moderate income housing. The organization also promotes mixed income developments and communities, aiming to provide housing options for a diverse range of income levels.
Official website here: www.cmhdc.com
Who is the CEO of Chicago Metropolitan Housing Dev Corp?
Rafael Leon is the CEO of Chicago Metropolitan Housing Dev Corp The CEO's salary of Chicago Metropolitan Housing Dev Corp is $194,955 and their total compensation is $194,955.
Official website here: www.cmhdc.com
What is the revenue of Chicago Metropolitan Housing Dev Corp?
Chicago Metropolitan Housing Dev Corp's revenue in 2023 was $10,244,863.
Official website here: www.cmhdc.com
Who are the executives of Chicago Metropolitan Housing Dev Corp and what are their salaries?
The average compensation at Chicago Metropolitan Housing Dev Corp during 2023 was $32,492. There are 6 employees at Chicago Metropolitan Housing Dev Corp.
Here are 8 key members and their salaries (Chicago Metropolitan Housing Dev Corp's CEO's salary is $194,955 and their total compensation is $194,955):
- Compensation: $194,955
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.cmhdc.com
Where can I find the form 990 for Chicago Metropolitan Housing Dev Corp?
Chicago Metropolitan Housing Dev Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.cmhdc.com
Learn more at the official website: www.cmhdc.com
Mission Statement of Chicago Metropolitan Housing Dev Corp
Chicago Metropolitan Housing Development Corporation, often referred to as CMHDC, is dedicated to preserving and enhancing properties with both affordable and market-rate housing within the city. Their mission aims to address areas that are vulnerable to affordable housing shortages. In doing so, CMHDC focuses on revitalization, development, financing, and rental services for low and moderate-income housing. Their efforts emphasize promoting mixed-income developments and communities, ensuring a balanced living environment for various income groups.
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Impact
October, 2024
Chicago Metropolitan Housing Dev Corp plays a crucial role in addressing the affordable housing crisis in Chicago by developing and retaining both affordable and market-rate properties. Their efforts target areas particularly vulnerable to housing shortages, making a significant impact on community stability and diversity.
By providing revitalization, development, financing, and rental solutions for low- and moderate-income housing, CMHDC emphasizes the importance of mixed-income developments. This approach not only improves the quality of housing but also fosters inclusive communities where residents of varying economic backgrounds can thrive together.
Ultimately, CMHDC contributes to the social and economic revitalization of neighborhoods in Chicago, promoting long-term sustainability and accessibility in housing options for families and individuals in need.
This information is meant to be a general summary of Chicago Metropolitan Housing Dev Corp. 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 2023.
- Investment Income: $45,224
- Program Service Revenue: $8,784,731
- Gross Receipts: $10,244,863
Assets and Liabilities:
- Total Assets: $43,424,601
- Total Liabilities: $38,525,063
- Net Assets: $4,899,538
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GROSS RENTALS
Revenue
$8,784,731
Organization Details
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