Overview
What is 820 W Belle Plaine Cooperative?
820 W Belle Plaine Cooperative is a nonprofit organization situated in Chicago, Illinois, with a focus on providing affordable housing opportunities for eligible low-income tenants. In line with its mission, the cooperative allows tenants to pay rent based on their financial capabilities, as per HUD guidelines. The main objective of this nonprofit is to ensure that affordable housing is accessible to those who need it most, thereby contributing positively to the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Star rating)
820 W Belle Plaine Cooperative has received a commendable Four-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. The high score reflects the charity's commitment to transparency, with a perfect score on the independent board members and their engagement in oversight. This emphasizes their dedication to maintaining ethical governance and effective financial management.
The organization demonstrates robust financial health, evidenced by their program expense ratio of 100%, ensuring that all funds are directed towards their mission. The absence of any material diversion of assets further enhances their credibility, while their well-documented whistleblower and record retention policies contribute to a trustworthy operational framework.
While the data focuses predominantly on financial aspects, it showcases the cooperative's responsible management and reinforces confidence among donors and stakeholders. Overall, the strong accountability score positions 820 W Belle Plaine Cooperative as a reliable nonprofit with effective governance practices.
This AI summary has been generated from information found on Charity Navigator.
Is 820 W Belle Plaine Cooperative legitimate?
820 W Belle Plaine Cooperative is a legitimate nonprofit organization registered as a 501(c)(3) entity. 820 W Belle Plaine Cooperative 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: $383,629
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What is the mission statement of 820 W Belle Plaine Cooperative?
The 820 W Belle Plaine Cooperative is committed to providing affordable housing for eligible low-income tenants. Their mission is centered around offering affordable living spaces, ensuring that tenants pay a portion of the rent based on their income capacity, according to the guidelines set by the HUD. This organization strives to make housing accessible for individuals who may otherwise struggle with affordability, thereby contributing to a more equitable living situation for these individuals.
Who is the CEO of 820 W Belle Plaine Cooperative?
Lasun Omotunwashe is the President of 820 W Belle Plaine Cooperative.
What is the revenue of 820 W Belle Plaine Cooperative?
820 W Belle Plaine Cooperative's revenue in 2022 was $2,265,114.
Who are the executives of 820 W Belle Plaine Cooperative and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for 820 W Belle Plaine Cooperative?
820 W Belle Plaine Cooperative's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 820 W Belle Plaine Cooperative
The 820 W Belle Plaine Cooperative is dedicated to providing affordable housing for eligible low-income tenants. This mission is carried out by offering residences at a cost that is proportionate to each tenant's earning capacity, as per the guidelines set by the Department of Housing and Urban Development (HUD). The organization strives to make housing more accessible for individuals with limited financial means, thus contributing to their well-being and stability.
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Impact
October, 2024
820 W Belle Plaine Cooperative significantly impacts the community by providing affordable housing options for eligible low-income tenants in Chicago. By implementing a rent structure based on tenants' ability to pay, as outlined by HUD guidelines, the cooperative ensures that individuals and families can secure stable housing without being burdened by excessive financial strain. This model not only helps to alleviate housing insecurity but also fosters a sense of community and stability among residents. By prioritizing access to affordable living spaces, the cooperative plays a crucial role in supporting low-income populations, promoting social equity, and enhancing the overall quality of life in the area.
This information is meant to be a general summary of 820 W Belle Plaine Cooperative. 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: $1,826
- Program Service Revenue: $2,263,288
- Gross Receipts: $2,265,114
Assets and Liabilities:
- Total Assets: $6,392,825
- Total Liabilities: $1,006,745
- Net Assets: $5,386,080
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CARRYING CHARGES
Revenue
$1,686,379
MISCELLANEOUS INCOME
Revenue
$18,960
TENANT ASSISTANCE PAYMENT
Revenue
$553,431
TENANT CHARGES
Revenue
$4,518
Organization Details
Phone
(773) 549-2621Principal Officer
Lasun Omotunwashe
Main Address
C/O MGMT OFFICE 820 W BELLE PLAINE, CHICAGO, IL, 60613
NTEE Category
Code: L50 - Housing
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