Overview
What is Mht Housing Inc?
Mht Housing Inc, a Michigan-based nonprofit organization, is dedicated to preserving and extending affordable housing through the acquisition and operation of multifamily residential real estate for low and very low-income tenants. Last year, they received six Low-Income Housing Tax Credit awards, totaling 331 units. Among these, 235 units were for preservation, and 96 were new constructions. These projects will house approximately 541 low-income individuals. Additionally, Mht Housing Inc purchased 110 low-income units, providing homes for roughly 245 individuals. They completed the renovation of 456 low-income units and constructed 175 units, with 125 being market rate and 50 low-income, accommodating around 927 individuals. The organization has made significant donations to various nonprofits, including an inner-city charter school for students K-12. Mht Housing Inc employs a team of 29 individuals.
Official website here: www.mhthousing.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Mht Housing Inc has received an 81% rating from Charity Navigator, reflecting a strong emphasis on accountability and finance. The organization's score is derived entirely from its Accountability & Finance metrics, showcasing effective management of resources and transparency in operations. This score indicates that the nonprofit is maintaining a solid financial structure, which is crucial for donor confidence and organizational stability.
The organization demonstrates several strengths, including a fully independent board with a majority of members, a low liabilities to assets ratio, and a high program expense ratio of nearly 81%. These factors suggest that Mht Housing Inc is effectively directing funds towards its mission-driven programs rather than administrative costs. Policies on conflict of interest, whistleblower protections, and document retention are also in place, further enhancing their governance standards.
However, while the financial health appears strong, the rating does not address other potential areas such as program impact or community feedback, which are essential for a comprehensive understanding of the nonprofit's effectiveness. Overall, Mht Housing Inc has established a solid foundation in accountability and finance, making it a reliable organization for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Mht Housing Inc legitimate?
Mht Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mht Housing Inc 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: $1,531,811
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,358,290
For more financial information, click here
Official website here: www.mhthousing.net
What is the mission statement of Mht Housing Inc?
Mht Housing Inc is dedicated to preserving and extending affordable housing options in Michigan. Through the acquisition and operation of multifamily residential real estate, this organization aims to provide housing solutions for low and very low income tenants. In the previous year, Mht Housing Inc received six Low-Income Housing Tax Credit awards, adding 331 units to their portfolio, with 235 units being renovated and 96 new units constructed. These projects will house approximately 541 low-income individuals. Additionally, Mht Housing Inc made significant donations to various nonprofits, one of which is an inner city charter school for students K-12.
Official website here: www.mhthousing.net
Who is the CEO of Mht Housing Inc?
Timothy V Fox is the President of Mht Housing Inc.
Official website here: www.mhthousing.net
What is the revenue of Mht Housing Inc?
Mht Housing Inc's revenue in 2022 was $19,352,676.
Official website here: www.mhthousing.net
Who are the executives of Mht Housing Inc and what are their salaries?
The average compensation at Mht Housing Inc during 2022 was $168,624. There are 29 employees at Mht Housing Inc.
Here are 11 key members and their salaries:
- Compensation: $474,555
- Related: $0
- Other: $37,785
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $310,723
- Related: $0
- Other: $17,139
- Compensation: $307,890
- Related: $0
- Other: $53,962
- Compensation: $190,072
- Related: $0
- Other: $32,701
- Compensation: $207,384
- Related: $0
- Other: $36,045
- Compensation: $174,186
- Related: $0
- Other: $14,509
- Compensation: $180,561
- Related: $0
- Other: $47,047
- Compensation: $158,413
- Related: $0
- Other: $34,569
Official website here: www.mhthousing.net
Where can I find the form 990 for Mht Housing Inc?
Mht Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mhthousing.net
Learn more at the official website: www.mhthousing.net
Mission Statement of Mht Housing Inc
MHT Housing Inc, a dedicated nonprofit organization, strives to preserve and extend affordable housing options for low and very low income tenants in Michigan. By acquiring and managing multifamily residential real estate, MHT Housing Inc plays a pivotal role in maintaining a substantial number of units within the low-income housing system. In the previous year, the organization was granted six Low-Income Housing Tax Credit awards, totaling 331 units. Among these projects, 235 existing units will be renovated, and 96 new units will be built, providing accommodation for around 541 low-income individuals.
Beyond these recent projects, MHT Housing Inc purchased 110 additional low-income units, housing approximately 245 individuals. Furthermore, the organization completed the renovation of 456 existing low-income units and initiated the construction of 175 new housing units, including 125 market rate and 50 low-income units. These efforts will accommodate around 927 more low-income individuals, significantly increasing the availability of affordable housing within the community.
MHT Housing Inc also extends its support beyond its housing initiatives. The organization made substantial donations to various nonprofits, including an inner city charter school for students K-12, further emphasizing its commitment to enhancing the lives of those in need.
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Impact
October, 2024
MHT Housing Inc. plays a crucial role in the preservation and enhancement of affordable housing in Michigan. By securing six Low-Income Housing Tax Credit awards, the organization is set to revitalize 331 housing units, adding both renovated and newly constructed homes to the market. This effort will directly benefit approximately 541 low-income individuals by providing them with stable and affordable living conditions.
In the past year alone, MHT Housing has successfully completed the renovation of 456 low-income units, showcasing its commitment to improving existing housing infrastructure. Additionally, the construction of 175 new housing units—comprising both market rate and low-income options—expands the availability of affordable housing, accommodating around 927 low-income residents.
MHT Housing's impact extends beyond housing. Their significant contributions to community initiatives, such as supporting an inner-city charter school, further demonstrate their dedication to fostering healthier, more sustainable neighborhoods. Through these efforts, MHT Housing Inc. not only addresses immediate housing needs but also promotes broader economic and social development within the communities it serves.
This information is meant to be a general summary of Mht Housing Inc. 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: -$85,679
- Program Service Revenue: $18,150,094
- Gross Receipts: $19,439,390
Assets and Liabilities:
- Total Assets: $103,750,395
- Total Liabilities: $6,784,815
- Net Assets: $96,965,580
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCOME FROM RELATED ORGANIZATION
Revenue
$10,013,551
PARTNERSHIP MANAGEMENT FEE
Revenue
$3,338,702
DEVELOPER FEES
Revenue
$2,688,280
INTEREST - LOAN RECEIVABLE
Revenue
$1,667,346
CONSULTING FEES
Revenue
$302,134
Organization Details
Founding Year
1990
Phone
(248) 833-0550Principal Officer
Timothy V Fox
Main Address
32500 TELEGRAPH ROAD, BINGHAM FARMS, MI, 48025
Website
www.mhthousing.netNTEE Category
Code: L200 - Housing
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