Overview
What is Taylor Community Development Corp?
Taylor Community Development Corp is a nonprofit organization located in Taylor, Michigan, with a focus on providing affordable housing for low-income families. With approximately 77% of its units designated for tenants whose household income is 80% or less of the median household income for the Detroit Primary Metropolitan Statistical Area (PMSA), the organization aims to serve the community by acquiring, developing, owning, rehabilitating, and managing real estate property with an emphasis on housing for those of low or moderate income. The mission of Taylor Community Development Corp aligns with the charitable and public purposes of the City of Taylor and its Housing Commission, enabling them to deal in real estate transactions and financially support various housing initiatives.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 52%, One-Star out of Four Star rating.
Taylor Community Development Corp has received a low rating of 52%, indicating concerns regarding its overall accountability and financial health. The score is solely derived from the Accountability & Finance category, underscoring that there may be significant areas needing improvement in its operational practices.
Despite the low rating, the organization does exhibit several strengths. Notably, it has an independent board that is entirely composed of 83% independent members, which is a positive sign for governance. Additionally, the charity shows a high program expense ratio of 95.59%, indicating that a substantial portion of its budget is allocated to its programs rather than administrative costs.
However, the charity's liabilities to assets ratio is concerning at 87.31%, suggesting potential financial instability. This high level of liabilities relative to assets could hinder the organization's ability to sustain its programs long-term. Overall, while there are commendable aspects of its governance, the financial metrics raise red flags that stakeholders should consider.
This AI summary has been generated from information found on Charity Navigator.
Is Taylor Community Development Corp legitimate?
Taylor Community Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Taylor Community Development Corp 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 Taylor Community Development Corp?
The Taylor Community Development Corporation aims to advance charitable or exempt public purposes and operations by engaging in real estate transactions, with a particular focus on providing housing for individuals with low or moderate income. Through acquiring, owning, holding, rehabilitating, developing, selling, leasing, managing, mortgaging, financing, and dealing in real estate, this organization contributes to the betterment of communities. The corporation provides approximately 77% of its apartments to families whose income is 80% or less of the median household income for the Detroit PMSA. The remaining 23% of units are available to tenants without income restrictions.
Who is the CEO of Taylor Community Development Corp?
Jason Couture is the President of Taylor Community Development Corp.
What is the revenue of Taylor Community Development Corp?
Taylor Community Development Corp's revenue in 2022 was $15,218,096.
Who are the executives of Taylor Community Development Corp and what are their salaries?
There 5 volunteers at Taylor Community Development Corp.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $103,436
- Other: $17,551
- 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
Where can I find the form 990 for Taylor Community Development Corp?
Taylor Community Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Taylor Community Development Corp
The Taylor Community Development Corp, a charitable organization, is dedicated to advancing the public purposes and operations of the City of Taylor and its Housing Commission. With a primary emphasis on real estate, this nonprofit acquires, receives, owns, holds, rehabilitates, develops, sells, leases, manages, mortgages, finances, and deals in various real estate projects. Their primary focus lies in providing housing opportunities for individuals and families with low or moderate income.
Approximately 77% of the apartments managed by the Taylor Community Development Corp are designated for tenants whose household income is 80% or less of the median household income for the Detroit PMSA. The remaining 23% of units have no household income restrictions. This inclusive approach aims to cater to a diverse range of residents in need of affordable housing solutions. The nonprofit's commitment to its mission ensures that it continues to make a positive impact on its community by providing essential housing opportunities.
In summary, the Taylor Community Development Corp plays a crucial role in the community by furthering the charitable and public purposes of the City of Taylor and its Housing Commission. By focusing on real estate development and housing initiatives, this nonprofit provides valuable resources to individuals and families with low or moderate income, enabling them to secure stable and affordable living situations.
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Impact
October, 2024
Taylor Community Development Corp plays a vital role in enhancing the quality of life for residents in Taylor, MI, particularly those with low or moderate incomes. By focusing on the acquisition, rehabilitation, and management of real estate, the organization provides housing solutions tailored to the needs of the community. Approximately 77% of its apartments are designated for families earning 80% or less of the median household income for the Detroit PMSA, ensuring that those who may struggle to find affordable housing have access to safe and stable living conditions.
The impact extends beyond just housing; it contributes to the economic and social well-being of the community. By fostering an inclusive environment with a portion of units available without household income restrictions, it promotes diversity and accessibility. The work of Taylor Community Development Corp supports the broader mission of the City of Taylor and its Housing Commission, ultimately helping to create a more vibrant and sustainable community for all its residents.
This information is meant to be a general summary of Taylor Community Development Corp. 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: $1,611
- Program Service Revenue: $14,411,127
- Gross Receipts: $15,218,096
Assets and Liabilities:
- Total Assets: $30,259,490
- Total Liabilities: $26,059,210
- Net Assets: $4,200,280
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
APARTMENTS TAYLOR, MI
Revenue
$13,720,877
TENANT CHARGES
Revenue
$648,789
LAUNDRY AND VENDING REVENUE
Revenue
$41,461
Organization Details
Founding Year
1997
Phone
(734) 374-2733Principal Officer
Jason Couture
Main Address
23555 GODDARD ROAD, TAYLOR, MI, 48180
NTEE Category
Code: L200 - Housing
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