Overview
What is Crystal Lake Preservation Corporation?
Crystal Lake Preservation Corporation is a nonprofit organization situated in Chicago, Illinois. The primary focus of this organization is to provide safe, clean, and hygienic rental housing for individuals and families with moderate to low incomes. In 2022, they served 91 families by offering accommodation in their apartment complex located in Crystal Lake, Illinois. The sponsor of this project is Hispanic Housing Development Corporation, another nonprofit organization known for its work in affordable housing. The mission of Crystal Lake Preservation Corporation aligns with their activities, ensuring that low-income families have access to suitable living conditions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 72%, Two-Star out of Four Stars
Crystal Lake Preservation Corporation has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. The charity has an Accountability & Finance score of 72%, showing some strengths in governance, such as having 66% of its board members being independent and maintaining effective oversight through established policies like whistleblower and conflict of interest guidelines.
The organization demonstrates a strong commitment to its mission, with a high program expense ratio of 87.75%, meaning that a significant portion of its spending goes directly towards programs rather than administrative costs. Additionally, the charity has shown no material diversion of assets, which is a positive sign of financial integrity.
However, the organization faces challenges in certain areas, such as its liabilities to assets ratio of 139.61%, which raises concerns about financial sustainability. Moreover, the board's size lacks in terms of independent members, as it only has two independent members, which could impact its governance effectiveness. In summary, while Crystal Lake Preservation Corporation has notable strengths, there are areas that require improvement to enhance its overall rating and operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Crystal Lake Preservation Corporation legitimate?
Crystal Lake Preservation Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Crystal Lake 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: $122,328
For more financial information, click here
What is the mission statement of Crystal Lake Preservation Corporation?
Crystal Lake Preservation Corporation is dedicated to providing safe, decent, and sanitary rental housing for individuals and families with modest incomes. Their mission is to ensure that these tenants have access to clean and suitable living conditions. In 2022, they served 91 families, demonstrating their commitment to this cause. The corporation operates an apartment complex, and their work is supported by Hispanic Housing Development Corporation, a non-profit organization.
Who is the CEO of Crystal Lake Preservation Corporation?
Hipolito Roldan is the President of Crystal Lake Preservation Corporation.
What is the revenue of Crystal Lake Preservation Corporation?
Crystal Lake Preservation Corporation's revenue in 2022 was $1,005,639.
Who are the executives of Crystal Lake Preservation Corporation and what are their salaries?
There 2 volunteers at Crystal Lake 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 Crystal Lake Preservation Corporation?
Crystal Lake Preservation Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Crystal Lake Preservation Corporation
Crystal Lake Preservation Corporation, a nonprofit organization, is dedicated to providing safe, decent, and sanitary rental housing for individuals and families with low and moderate incomes. The corporation's mission is centered around ensuring that its tenants have access to living conditions that meet basic standards of hygiene and comfort. In 2022, they served 91 families, demonstrating their commitment to this cause. The sponsor of this project is Hispanic Housing Development Corporation, another nonprofit organization that shares similar goals.
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Impact
October, 2024
Crystal Lake Preservation Corporation significantly impacts the community by providing safe, decent, and sanitary rental housing for low and moderate-income tenants. By operating an apartment complex in Crystal Lake, IL, the organization has served 91 families in 2022 alone, ensuring that individuals and families in need have access to stable housing. This initiative helps foster a more inclusive community and addresses the critical need for affordable housing options in the area, contributing to improved living conditions and overall well-being for its residents. Through this support, the organization plays a vital role in promoting housing stability and social equity.
This information is meant to be a general summary of Crystal Lake 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: $31
- Program Service Revenue: $1,002,372
- Gross Receipts: $1,005,639
Assets and Liabilities:
- Total Assets: $2,656,170
- Total Liabilities: $3,708,291
- Net Assets: -$1,052,121
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$994,811
LAUNDRY INCOME
Revenue
$6,740
TENANT CHARGES
Revenue
$821
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: L80Z - Housing
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