Overview
What is Mulford Square Preservation Corp?
Mulford Square Preservation Corp is a nonprofit organization situated in Elgin, Illinois, with an address at 350 Park Street. Their primary focus is on the development and operation of affordable housing projects, catering to low-income individuals and families. Beyond just providing housing, their mission extends to supporting education within these communities. By developing and managing affordable housing, they aim to contribute positively to the lives of those in need, ensuring that education remains a priority.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Mulford Square Preservation Corp has received a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. This rating is based entirely on a single beacon score, with a focus on the organization’s fiscal responsibility and governance practices. The high score indicates that the organization has effective financial oversight mechanisms in place.
The nonprofit demonstrates strong governance, with 100% of its board members being independent and a well-sized board comprised of three independent members. Additionally, it has a robust audit and oversight committee, alongside a comprehensive conflict of interest policy and whistleblower policy, which are crucial for maintaining transparency and accountability. The organization also showcases a remarkable program expense ratio of 99.65%, indicating that nearly all of its funds are directed towards its mission.
However, while the financial and accountability scores are commendable, the overall rating relies solely on the accountability and finance beacon. Any potential weaknesses in other operational areas have not been highlighted in this data, suggesting that further insight into program effectiveness and impact might be beneficial for a comprehensive understanding of the organization’s performance.
This AI summary has been generated from information found on Charity Navigator.
Is Mulford Square Preservation Corp legitimate?
Mulford Square Preservation Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mulford Square Preservation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $57,489
For more financial information, click here
What is the mission statement of Mulford Square Preservation Corp?
The Mulford Square Preservation Corp's mission involves the development and operation of affordable housing for low-income individuals and families. Beyond this, they also aim to support education in their ventures. In simpler terms, this organization actively works on creating and managing economical living spaces for those in need, while also incorporating educational aspects into their projects.
Who is the CEO of Mulford Square Preservation Corp?
Alan Scimeca is the President of Mulford Square Preservation Corp.
What is the revenue of Mulford Square Preservation Corp?
Mulford Square Preservation Corp's revenue in 2022 was $1,058,952.
Who are the executives of Mulford Square Preservation Corp and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Mulford Square Preservation Corp?
Mulford Square Preservation Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mulford Square Preservation Corp
Mulford Square Preservation Corp is dedicated to two primary objectives. Firstly, it focuses on the development and operation of affordable housing for individuals and families with low income. This mission aims to provide a secure and affordable living space for those who may otherwise struggle to find such accommodations.
Secondly, Mulford Square Preservation Corp extends its support to education. While the details of this aspect are not explicitly stated in the provided information, it can be inferred that the organization likely seeks to contribute to the education sector in some way, possibly by creating facilities or providing resources for learning within the affordable housing communities they manage. By combining housing development and education support, Mulford Square Preservation Corp aims to contribute to the overall well-being and opportunities for growth of low-income individuals and families.
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Impact
October, 2024
Mulford Square Preservation Corp significantly enhances the community by developing and operating affordable housing projects for low-income individuals and families in Elgin, IL. Their commitment to providing accessible housing addresses a critical need in the area, fostering stability and security for residents who might otherwise struggle to find suitable living conditions.
In addition to housing, the organization emphasizes the importance of education, supporting initiatives that empower residents through learning opportunities. By integrating housing with educational support, Mulford Square Preservation Corp not only improves living conditions but also encourages personal and family development, contributing to a stronger, more resilient community.
Their efforts directly alleviate the challenges faced by low-income families, promoting social equity and inclusion by ensuring that everyone has access to safe and affordable housing. Through these initiatives, Mulford Square Preservation Corp plays a vital role in shaping a more supportive and thriving environment for all residents of Elgin.
This information is meant to be a general summary of Mulford Square Preservation 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 2022.
- Investment Income: $181
- Program Service Revenue: $1,058,771
- Gross Receipts: $1,058,952
Assets and Liabilities:
- Total Assets: $4,858,177
- Total Liabilities: $3,265,148
- Net Assets: $1,593,029
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GROSS RENTS PROJECT
Revenue
$1,058,771
Organization Details
Founding Year
1996
Phone
(847) 695-0309Principal Officer
Alan Scimeca
Main Address
350 PARK STREET, ELGIN, IL, 60120
NTEE Category
Code: L200 - Housing
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