Overview
What is Preservation Non-Profit Housing Corporation?
Preservation Non-Profit Housing Corporation is a nonprofit organization situated in Lansing, Michigan. Their primary mission is to combat community deterioration, eliminate slums and blight, stimulate community revitalization, and encourage economic development that benefits disadvantaged individuals and distressed areas. To achieve this, they own Cinnaire Preservation & Rehabilitation, LLC, which holds an interest in Michigan Brownfield Tax Credits. These credits are being monetized by the state, contributing to the stimulation of community revitalization and promoting economic development. By preserving historic buildings, the organization serves as a positive force for economic development.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, Two-Star out of Four Star rating.
The Preservation Non-Profit Housing Corporation has received a Two-Star rating due to its overall score of 64%. This rating reflects concerns in areas such as governance and transparency, particularly highlighted by the lack of independent board members and missing financial statements. However, the organization demonstrates a strong commitment to its mission, evidenced by a high program expense ratio of 98.89%, indicating that nearly all of its spending goes directly to its programs.
Strengths of the organization include listed policies for conflict of interest and whistleblowing, which suggests a focus on ethical governance. The presence of documented board meeting minutes also adds to its accountability. Despite these positives, the absence of independent board oversight and financial transparency raises concerns regarding its governance practices.
Moreover, the lack of a website listed on tax forms and missing tax documents on the nonprofit's website further detracts from its credibility. For potential donors and stakeholders, these limitations are crucial to consider, as they may impact trust and confidence in the organization's operations and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Preservation Non-Profit Housing Corporation legitimate?
Preservation Non-Profit Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Preservation 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 Preservation Non-Profit Housing Corporation?
The Preservation Non-Profit Housing Corporation's mission is centered around combating community deterioration and eliminating slums and blight. They strive to stimulate community revitalization, encourage economic development that benefits disadvantaged individuals and distressed areas, and engage with partners to enhance the economic and cultural future. A significant part of their mission involves preserving historic buildings as a means to foster economic development.
Who is the CEO of Preservation Non-Profit Housing Corporation?
Brett Oumedian is the Secretary/Treasurer of Preservation Non-Profit Housing Corporation.
What is the revenue of Preservation Non-Profit Housing Corporation?
Preservation Non-Profit Housing Corporation's revenue in 2022 was $906,482.
Who are the executives of Preservation Non-Profit Housing Corporation and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $338,070
- Other: $29,318
- Compensation: $0
- Related: $234,491
- Other: $37,533
- Compensation: $0
- Related: $143,201
- Other: $24,582
- Compensation: $0
- Related: $224,756
- Other: $36,783
Where can I find the form 990 for Preservation Non-Profit Housing Corporation?
Preservation Non-Profit Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Preservation Non-Profit Housing Corporation
Preservation Non-Profit Housing Corporation, a dedicated non-profit organization, is committed to combating community deterioration and eliminating slums and blight. Its mission extends beyond just preservation; it seeks to stimulate community revitalization and encourage economic development that benefits disadvantaged individuals and distressed areas. The corporation engages with partners to enhance the economic and cultural future of communities by utilizing historic buildings as a positive force for economic development. In essence, Preservation Non-Profit Housing Corporation aims to revitalize communities, improve living conditions for disadvantaged individuals, and foster economic growth, all while preserving historical buildings as a driving force for development.
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Impact
July, 2024
Preservation Non-Profit Housing Corporation, based in Lansing, MI, plays a crucial role in combating community deterioration, eliminating slum and blight, stimulating community revitalization, and encouraging economic development that benefits disadvantaged persons and distressed areas. Through its wholly-owned subsidiary, Cinnaire Preservation & Rehabilitation, LLC, the organization has vested interests in Michigan brownfield tax credits, which are instrumental in stimulating community revitalization and economic development. By actively engaging with partners, Preservation Non-Profit Housing Corporation remains committed to preserving historic buildings as a positive force for economic development, thus contributing significantly to the enhancement of both economic and cultural aspects of the community.
This information is meant to be a general summary of Preservation 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: $864,963
- Program Service Revenue: $41,519
- Gross Receipts: $906,482
Assets and Liabilities:
- Total Assets: $6,345,597
- Total Liabilities: $1
- Net Assets: $6,345,596
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE INCOME
Revenue
$41,519
Organization Details
Founding Year
1988
Phone
(517) 482-8555Principal Officer
Brett Oumedian
Main Address
1118 S WASHINGTON AVENUE, LANSING, MI, 48910
NTEE Category
Code: L20 - Housing
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