Overview
What is Woodstock Preservation Corporation?
Woodstock Preservation Corporation is a nonprofit organization situated in Chicago, Illinois. Their primary focus is to offer secure, clean, and hygienic rental housing options for individuals with moderate and low income levels. In 2022, they served 134 families within this demographic. The sponsor of this project is the Hispanic Housing Development Corporation, which is a recognized exempt organization. The corporation manages an apartment complex in Woodstock, Illinois, providing a vital service to the local community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 72% (Two-Star out of Four Star rating)
Woodstock Preservation Corporation has received a Two-Star rating from Charity Navigator, reflecting a moderate level of accountability and finance management. The rating is based entirely on the accountability and finance score, which stands at 72% for the most recent fiscal year of 2022. This score indicates that while the organization demonstrates some strengths, there are also notable areas for improvement.
Strengths of the organization include a majority of independent board members and strong financial oversight, as evidenced by a 100% score in areas such as the audit and oversight committee and the absence of material diversion of assets. Additionally, the organization has established clear policies for conflict of interest, whistleblower protections, and document retention, contributing positively to its accountability efforts.
However, limitations are evident in the organization’s liabilities to assets ratio, which is 113.42%, indicating potential financial concerns. Furthermore, the size of the independent board members falls short, with only two independent members, affecting its governance score. These factors suggest that while Woodstock Preservation Corporation shows commitment to transparency, there are significant challenges that the organization needs to address to improve its overall rating and financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Woodstock Preservation Corporation legitimate?
Woodstock Preservation Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Woodstock Preservation Corporation 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: $211,201
For more financial information, click here
What is the mission statement of Woodstock Preservation Corporation?
The Woodstock Preservation Corporation's mission is centered around providing safe, decent, and sanitary rental housing for individuals and families with low to moderate income. They strive to ensure that their tenants live in comfortable and hygienic conditions, serving as a vital resource for these households. In 2022, the corporation served 134 families, demonstrating its commitment to this mission. The sponsor of this project is The Hispanic Housing Development Corporation, an exempt organization.
Who is the CEO of Woodstock Preservation Corporation?
Hipolito Roldan is the President of Woodstock Preservation Corporation.
What is the revenue of Woodstock Preservation Corporation?
Woodstock Preservation Corporation's revenue in 2022 was $1,687,869.
Who are the executives of Woodstock Preservation Corporation and what are their salaries?
There 2 volunteers at Woodstock Preservation Corporation.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $410,579
- Other: $64,610
- Compensation: $0
- Related: $218,356
- Other: $48,291
- Compensation: $0
- Related: $167,672
- Other: $28,243
- Compensation: $0
- Related: $113,510
- Other: $32,312
- Compensation: $0
- Related: $155,042
- Other: $28,810
- Compensation: $0
- Related: $137,494
- Other: $17,702
- Compensation: $0
- Related: $114,379
- Other: $26,659
Where can I find the form 990 for Woodstock Preservation Corporation?
Woodstock Preservation Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Woodstock Preservation Corporation
Woodstock Preservation Corporation, as a nonprofit organization, is committed to providing safe, decent, and sanitary rental housing for individuals and families with low to moderate income. This mission is an essential aspect of their operations, aiming to ensure that these households have access to suitable living conditions. The corporation's primary goal is to serve as a reliable housing provider, contributing to the overall well-being and stability of its tenants. In 2022, the organization successfully served 134 families, demonstrating its dedication and effectiveness in fulfilling its mission. The sponsor of this project is the Hispanic Housing Development Corporation, a recognized exempt organization, further highlighting the corporation's commitment to serving the community.
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Impact
October, 2024
Woodstock Preservation Corporation plays a crucial role in enhancing the quality of life for low and moderate-income families in Woodstock, IL, by providing safe, decent, and sanitary rental housing. In 2022, it served 134 families, ensuring they have access to stable living conditions that are essential for their well-being and security. The organization operates an apartment complex that is specifically designed to meet the housing needs of low-income tenants, contributing to the overall health and stability of the community.
By prioritizing affordable housing, Woodstock Preservation Corporation not only addresses immediate housing needs but also fosters a supportive environment where families can thrive. Their commitment helps to promote inclusivity and reduces the challenges faced by disadvantaged groups, ultimately strengthening the fabric of the Woodstock community. The collaboration with the Hispanic Housing Development Corporation further underscores their dedication to serving diverse populations, ensuring that everyone has a place to call home.
This information is meant to be a general summary of Woodstock Preservation Corporation. 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: $47
- Program Service Revenue: $1,683,212
- Gross Receipts: $1,687,869
Assets and Liabilities:
- Total Assets: $5,156,793
- Total Liabilities: $5,848,844
- Net Assets: -$692,051
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,677,231
LAUNDRY INCOME
Revenue
$4,609
TENANT CHARGES
Revenue
$1,372
Organization Details
Founding Year
1993
Phone
(312) 602-6500Principal Officer
Hipolito Roldan
Main Address
325 N WELLS 8TH FLOOR, CHICAGO, IL, 60654
NTEE Category
Code: L200 - Housing
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