Overview
What is Qumbya Inc?
Qumbya Inc is a nonprofit organization situated in Chicago, Illinois, specifically at 5225 S Blackstone Avenue. The primary mission of this organization is to offer housing solutions for individuals with limited financial means. They achieve this goal through cooperative housing, which empowers residents to participate in managing their living spaces and fostering a sense of community. Qumbya Inc's activities are centered around providing affordable and sustainable housing options, promoting social interaction, and creating a supportive environment for its low-income residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating.
Qumbya Inc has received a Two-Star rating, with its overall score based solely on the Accountability & Finance beacon. The charity demonstrates strong financial practices, highlighted by a program expense ratio of 96.38%, indicating that a significant portion of its expenditures goes directly to programs rather than administrative costs. Additionally, the organization boasts a fully independent board and has no material diversion of assets, which reflects a commitment to governance and transparency.
The scoring also reveals that Qumbya Inc effectively documents board meeting minutes and maintains a favorable liabilities to assets ratio of 26.22%. These factors collectively contribute to a strong rating in accountability and finance. However, the overall Two-Star rating suggests that there may be areas for improvement beyond financial metrics, which could enhance its reputation and effectiveness in achieving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Qumbya Inc legitimate?
Qumbya Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Qumbya 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Qumbya Inc?
Qumbya Inc, as an organization, is committed to providing housing solutions for individuals with limited financial means. They accomplish this through the establishment of cooperative housing, which empowers residents to collectively manage their living spaces and costs. This approach allows for affordable and sustainable housing options, thereby improving the living standards of low-income individuals. By promoting cooperative housing, Qumbya Inc contributes to fostering a sense of community and shared responsibility among its residents. Additionally, the organization may offer resources and support to help residents navigate the challenges of cooperative living, thereby enhancing their overall living experience.
Who is the CEO of Qumbya Inc?
Emma Mcduff is the President of Qumbya Inc.
What is the revenue of Qumbya Inc?
Qumbya Inc's revenue in 2022 was $554,679.
Who are the executives of Qumbya Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Qumbya Inc?
Qumbya Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Qumbya Inc
Qumbya Inc, as a nonprofit organization, is dedicated to providing housing solutions for individuals with low income. They achieve this mission through cooperative housing, a unique approach that empowers residents to share responsibilities and costs in managing their living spaces. By fostering a sense of community and shared responsibility, Qumbya Inc aims to provide affordable and sustainable housing options for those who may not otherwise have access to such resources. This mission is a testament to Qumbya Inc's commitment to social justice and equality, ensuring that everyone has a safe and stable home.
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Impact
July, 2024
Qumbya Inc's impact is significant in CHICAGO, IL, as it provides crucial housing assistance to low-income residents through cooperative housing initiatives. This not only addresses the pressing issue of affordable housing but also fosters community engagement and empowerment by offering residents a sense of ownership and stability in their living situations. Qumbya Inc's work goes beyond mere housing provision, creating a positive ripple effect that contributes to the well-being of both individuals and the community at large.
This information is meant to be a general summary of Qumbya 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.
- Program Service Revenue: $554,679
- Gross Receipts: $554,679
Assets and Liabilities:
- Total Assets: $97,419
- Total Liabilities: $33,629
- Net Assets: $63,790
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Occupancy income
Revenue
$408,344
Food Group
Revenue
$145,155
Dues
Revenue
$810
A/C Fees
Revenue
$539
Other related income
Revenue
-$2,919
Organization Details
Founding Year
2009
Phone
(773) 609-5450Principal Officer
Emma Mcduff
Main Address
5225 S Blackstone Avenue, Chicago, IL, 606154105
NTEE Category
Code: L21 - Housing
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