Overview
What is Homestead Corporation Of Champaign Urbana?
Homestead Corporation of Champaign Urbana is a nonprofit organization situated in Urbana, Illinois. With a mission to serve low-income individuals and families, the organization operates under the name Homestead Apartments. Their primary activity involves providing affordable housing solutions, ensuring that those who are financially disadvantaged have access to comfortable living spaces. The organization employs a modest workforce of five dedicated individuals.
Official website here: www.homesteadcorp.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100%, Four-Star out of Four Star Rating
Homestead Corporation of Champaign Urbana has achieved a perfect score on Charity Navigator, reflecting its strong commitment to accountability and finance. The organization has a robust governance structure with 100% independent board members, ensuring effective oversight and transparency. This high rating is based on their exemplary performance in various financial metrics, indicating prudent management of resources.
The organization demonstrates a high level of program expense efficiency, with 91.74% of its expenditures directed towards its programs, ensuring that the majority of funds raised are utilized for its mission. Additionally, they have implemented essential policies such as conflict of interest and whistleblower protections, further enhancing their operational integrity.
There are no significant limitations noted in the data, highlighting that the organization maintains a clean record with no material diversion of assets. The overall positive indicators suggest that Homestead Corporation of Champaign Urbana is well-positioned to continue its impactful work in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Homestead Corporation Of Champaign Urbana legitimate?
Homestead Corporation Of Champaign Urbana is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homestead Corporation Of Champaign Urbana 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: $25,078
For more financial information, click here
Official website here: www.homesteadcorp.org
What is the mission statement of Homestead Corporation Of Champaign Urbana?
Homestead Corporation of Champaign Urbana is committed to providing affordable housing for low-income individuals and families. Their mission is deeply rooted in this objective, as they strive to make housing accessible for those who may otherwise struggle with high costs. Through their offerings, they aim to alleviate housing-related financial burdens, giving individuals and families the opportunity to focus on other aspects of their lives. Homestead Apartments, one of their initiatives, serves as a prime example of their dedication to this cause, offering affordable housing options to those in need.
Official website here: www.homesteadcorp.org
Who is the CEO of Homestead Corporation Of Champaign Urbana?
Tom Hodson is the President of Homestead Corporation Of Champaign Urbana.
Official website here: www.homesteadcorp.org
What is the revenue of Homestead Corporation Of Champaign Urbana?
Homestead Corporation Of Champaign Urbana's revenue in 2022 was $138,823.
Official website here: www.homesteadcorp.org
Who are the executives of Homestead Corporation Of Champaign Urbana and what are their salaries?
The average compensation at Homestead Corporation Of Champaign Urbana during 2022 was $5,016. There are 5 employees and 20 volunteers at Homestead Corporation Of Champaign Urbana.
Here are 5 key members and their salaries:
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Official website here: www.homesteadcorp.org
Where can I find the form 990 for Homestead Corporation Of Champaign Urbana?
Homestead Corporation Of Champaign Urbana's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.homesteadcorp.org
Learn more at the official website: www.homesteadcorp.org
Mission Statement of Homestead Corporation Of Champaign Urbana
Homestead Corporation of Champaign Urbana, as a nonprofit organization, is committed to providing affordable housing solutions for low-income individuals and families. This mission is at the heart of their activities and is evident in their offerings, such as Homestead Apartments. By focusing on affordable housing, Homestead Corporation of Champaign Urbana aims to contribute positively to the lives of those who may otherwise struggle to secure adequate living spaces. This mission is a testament to the organization's dedication to social equity and ensuring that everyone, regardless of their income, has access to a place they can call home.
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Impact
October, 2024
Homestead Corporation of Champaign Urbana significantly impacts the community by providing affordable housing options for low-income individuals and families. By focusing on accessible living arrangements, it alleviates housing insecurity in the Urbana area, enabling families to secure stable homes. This stability fosters improved educational outcomes for children, enhances job opportunities for adults, and supports overall community well-being. In addition to helping residents find safe and affordable accommodations, Homestead Apartments contribute to the local economy by promoting diverse, sustainable neighborhoods that nurture a sense of belonging and community cohesion. Their commitment to affordable housing plays a crucial role in addressing the broader issues of poverty and housing disparity.
This information is meant to be a general summary of Homestead Corporation Of Champaign Urbana. 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: $73,485
- Gross Receipts: $138,823
Assets and Liabilities:
- Total Assets: $761,743
- Total Liabilities: $17,824
- Net Assets: $743,919
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT PAYMENTS
Revenue
$73,485
Organization Details
Founding Year
1993
Principal Officer
Tom Hodson
Main Address
306 W GRIGS ST, URBANA, IL, 61801
Website
www.homesteadcorp.orgNTEE Category
Code: L20Z - Housing
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