Overview
What is Upgrade A Non-Profit Housing Corporation?
Upgrade A Non-Profit Housing Corporation is a dedicated organization based in Peoria, Illinois. Their primary focus is to manage and maintain affordable housing options for individuals with modest incomes. This includes overseeing three housing developments and owning several single-family homes, amounting to approximately 250 units in total. The corporation's mission is to extend rental opportunities to this specific demographic, thereby contributing to the local community by providing suitable living spaces.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars
Upgrade A Non-Profit Housing Corporation has received a 58% rating, which translates to a One-Star rating. This score is solely derived from its Accountability & Finance metrics, indicating that the organization demonstrates some strengths in governance and financial practices but has significant weaknesses that affect its overall performance.
The nonprofit benefits from a fully independent board, comprised of 10 members, which is a positive indicator of governance. Additionally, it shows commitment to transparency by documenting board meeting minutes and has no recorded material diversion of assets. The program expense ratio is strong at 82.92%, suggesting that the majority of its expenditures are directed toward its mission.
However, the organization struggles with a high liabilities to assets ratio of 97.40%, which raises concerns about its financial sustainability and stability. While it excels in certain accountability aspects, these financial limitations could hinder its ability to fulfill its mission effectively over time.
This AI summary has been generated from information found on Charity Navigator.
Is Upgrade A Non-Profit Housing Corporation legitimate?
Upgrade A Non-Profit Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Upgrade A Non-Profit Housing 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.
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What is the mission statement of Upgrade A Non-Profit Housing Corporation?
Upgrade A Non-Profit Housing Corporation is dedicated to managing and maintaining low to moderate income housing units. Their mission involves providing rental options for individuals with limited financial means. The organization manages three housing developments with around 250 units and owns some single-family homes. Their primary goal is to contribute to housing solutions for this income group, ensuring they have access to suitable living spaces.
Who is the CEO of Upgrade A Non-Profit Housing Corporation?
Gene Gathers is the Board Member of Upgrade A Non-Profit Housing Corporation.
What is the revenue of Upgrade A Non-Profit Housing Corporation?
Upgrade A Non-Profit Housing Corporation's revenue in 2022 was $49,423.
Who are the executives of Upgrade A Non-Profit Housing Corporation and what are their salaries?
There 11 volunteers at Upgrade A Non-Profit Housing Corporation.
Here are 11 key members and their salaries:
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Where can I find the form 990 for Upgrade A Non-Profit Housing Corporation?
Upgrade A Non-Profit Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Upgrade A Non-Profit Housing Corporation
Upgrade A Non-Profit Housing Corporation is dedicated to making a significant impact in the housing sector. Their primary mission is to manage and maintain low to moderate income housing units, catering to individuals who fall within this income bracket. The organization manages three housing developments, housing around 250 units, as well as single-family homes that it owns. Upgrade A Non-Profit Housing Corporation's purpose is to provide these individuals with reliable and affordable rental options, helping to alleviate housing-related challenges in their communities. By doing so, the corporation aims to contribute positively to the lives of those in need, enhancing their living standards and promoting social stability.
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Impact
August, 2024
Upgrade A Non-Profit Housing Corporation's impact is substantial in providing affordable rental options for individuals with low to moderate income in Peoria, IL. With three housing developments comprising around 250 units and additional single-family homes under its ownership, Upgrade plays a crucial role in addressing the housing needs of the community. By managing these properties and ensuring proper maintenance, Upgrade not only offers affordable housing options but also contributes to stabilizing neighborhoods and improving the overall quality of life for its residents.
This information is meant to be a general summary of Upgrade A Non-Profit Housing 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.
- Program Service Revenue: $29,027
- Gross Receipts: $49,423
Assets and Liabilities:
- Total Assets: $277,936
- Total Liabilities: $268,942
- Net Assets: $8,994
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Organization Details
Founding Year
1968
Phone
(309) 676-4717Principal Officer
Gene Gathers
Main Address
1720 Great Oak Rd, Peoria, IL, 61604
NTEE Category
Code: L20 - Housing
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