Overview
What is Madison Heights Non-Profit Housing Corporation?
Madison Heights Non-Profit Housing Corporation is a Michigan-based, non-profit organization, established in 1977 by Cooperative Services, Inc., another non-profit entity. The corporation's primary mission is to provide housing facilities for low-income senior citizens. Originating as an initiative to acquire real estate in Madison Heights, Michigan, the organization constructed and operates an apartment project comprising 151 units. In collaboration with the U.S. Department of Housing and Urban Development, they offer affordable housing solutions to this specific demographic.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
Madison Heights Non-Profit Housing Corporation has earned a Three-Star rating from Charity Navigator, reflecting a solid score of 79%. This rating is based entirely on the organization's accountability and finance metrics, which indicates a strong focus on financial integrity and transparency in operations. The charity demonstrates a commitment to good governance with 100% of its board members being independent, which is a positive indicator of its accountability practices.
The organization excels in several areas, scoring full points on its financial statements oversight and policies related to conflict of interest and whistleblower protections. Additionally, a commendable program expense ratio of 78.95% suggests that the majority of its expenditures are directed towards its mission, which is essential for a nonprofit's effectiveness and sustainability. The audit and oversight committee's presence further strengthens the credibility of its financial management.
However, the charity's liabilities to assets ratio of 70.18% raised some concerns, as it did not score any points in this area. This might indicate potential financial risk or leverage that could impact its operational stability in the long run. Overall, Madison Heights Non-Profit Housing Corporation shows strong governance and financial management, but attention to its liabilities may be necessary for future growth and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Heights Non-Profit Housing Corporation legitimate?
Madison Heights Non-Profit Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Heights 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Madison Heights Non-Profit Housing Corporation?
The Madison Heights Non-Profit Housing Corporation is dedicated to providing housing facilities for low-income senior citizens. Established in cooperation with the U.S. Department of Housing and Urban Development, this organization constructs and operates apartment projects, offering residential spaces specifically catering to this demographic. Their mission is centered around enhancing the living conditions and ensuring affordability for elderly individuals with limited income.
Who is the CEO of Madison Heights Non-Profit Housing Corporation?
Cindy Lamb is the President of Madison Heights Non-Profit Housing Corporation.
What is the revenue of Madison Heights Non-Profit Housing Corporation?
Madison Heights Non-Profit Housing Corporation's revenue in 2022 was $1,709,164.
Who are the executives of Madison Heights Non-Profit Housing Corporation and what are their salaries?
There 28 volunteers at Madison Heights Non-Profit Housing Corporation.
Here are 19 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $182,532
- Other: $32,442
- Compensation: $0
- Related: $295,265
- Other: $63,472
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $153,401
- Other: $34,172
- Compensation: $0
- Related: $162,992
- Other: $25,359
- Compensation: $0
- Related: $175,150
- Other: $45,954
- Compensation: $0
- Related: $182,210
- Other: $47,091
- Compensation: $0
- Related: $177,736
- Other: $54,448
Where can I find the form 990 for Madison Heights Non-Profit Housing Corporation?
Madison Heights Non-Profit Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Madison Heights Non-Profit Housing Corporation
Madison Heights Non-Profit Housing Corporation is dedicated to providing housing facilities for low-income senior citizens. Established in 1977, this Michigan-based non-profit corporation, organized by Cooperative Services, Inc., has a mission to make a positive impact in the lives of elderly individuals with limited income. The corporation's main objective is to acquire and manage real property, constructing an apartment project with 151 units specifically designed for senior citizens. In collaboration with the US Department of Housing and Urban Development, Madison Heights Non-Profit Housing Corporation ensures that these affordable housing facilities are accessible to those who truly need them. By providing a safe and comfortable living environment for low-income senior citizens, the corporation plays a significant role in enhancing the quality of life for this vulnerable population.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Madison Heights Non-Profit Housing Corporation makes a significant impact by providing housing facilities for low-income senior citizens in Warren, Michigan. By offering affordable housing to this vulnerable population, the organization plays a crucial role in ensuring that seniors have a safe and stable living environment. Additionally, the corporation's mission to support low-income seniors aligns with the broader goal of promoting community well-being and reducing crime rates by addressing housing insecurity among this demographic. Through its dedicated efforts, Madison Heights Non-Profit Housing Corporation helps enhance the quality of life for low-income seniors in the region.
This information is meant to be a general summary of Madison Heights 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.
- Investment Income: $4,037
- Program Service Revenue: $386,238
- Gross Receipts: $1,709,164
Assets and Liabilities:
- Total Assets: $3,554,162
- Total Liabilities: $2,746,249
- Net Assets: $807,913
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$386,238
Organization Details
Founding Year
1977
Phone
(586) 753-9002Principal Officer
Cindy Lamb
Main Address
8425 E TWELVE MILE ROAD, WARREN, MI, 48093
NTEE Category
Code: I20 - Crime
If you are a representative of Madison Heights Non-Profit Housing Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.