Overview
What is Milwaukee Urban Strategic Investment Corp?
Milwaukee Urban Strategic Investment Corp (MUSIC) is a nonprofit organization situated in Milwaukee, Wisconsin. Its primary mission is to combat urban issues such as deterioration, poverty, low educational achievement, juvenile delinquency, criminality, and population loss in the greater Milwaukee area. To achieve this goal, MUSIC engages in various activities, including the development, maintenance, and management of the Library Hill Housing Project, known as Westown, in Milwaukee's downtown area. This project aims to improve the stability, safety, and desirability of the residential and commercial sector. Additionally, MUSIC manages the 2835 Kilbourn Housing Project located in Milwaukee, addressing the urban challenges facing the wider community.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 52%, One-Star out of Four Star rating.
The Milwaukee Urban Strategic Investment Corp has received a low overall rating of 52%, indicating potential concerns regarding its accountability and financial practices. The organization scores well in areas such as having a fully independent board and no material diversion of assets, which are positive indicators of governance. However, significant issues are present in other areas, especially financial transparency, as they received no points for their financial statements and lack of a website.
Additionally, the organization is missing several key policies, including a conflict of interest policy and a whistleblower policy, which are essential for maintaining trust and integrity. The high liabilities to assets ratio suggests financial instability, which could impact its ability to fulfill its mission effectively. While the program expense ratio is strong at 94.78%, indicating a commitment to program spending, the overall financial health and governance practices raise red flags for potential donors and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Milwaukee Urban Strategic Investment Corp legitimate?
Milwaukee Urban Strategic Investment Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Milwaukee Urban Strategic Investment 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
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What is the mission statement of Milwaukee Urban Strategic Investment Corp?
The Milwaukee Urban Strategic Investment Corp (MUSIC) is dedicated to combating urban issues such as deterioration, poverty, low educational achievement, juvenile delinquency, criminality, and population loss in various sectors, including individuals and businesses, within the greater Milwaukee area. One of its activities includes the construction, maintenance, and management of the Library Hill Housing Project, known as Westown, aiming to enhance the stability, safety, and residential and commercial desirability of the downtown area. Additionally, MUSIC is involved in the acquisition, maintenance, and management of the 2835 Kilbourn Housing Project located in Milwaukee, working towards improving living conditions and addressing urban challenges.
Who is the CEO of Milwaukee Urban Strategic Investment Corp?
Pat O'Brien is the President of Milwaukee Urban Strategic Investment Corp.
What is the revenue of Milwaukee Urban Strategic Investment Corp?
Milwaukee Urban Strategic Investment Corp's revenue in 2022 was $3,981,628.
Who are the executives of Milwaukee Urban Strategic Investment Corp and what are their salaries?
There 4 volunteers at Milwaukee Urban Strategic Investment Corp.
Here are 4 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for Milwaukee Urban Strategic Investment Corp?
Milwaukee Urban Strategic Investment Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Milwaukee Urban Strategic Investment Corp
Milwaukee Urban Strategic Investment Corp, often abbreviated as MUSIC, is a nonprofit organization with a mission to combat urban deterioration, poverty, low educational achievement, juvenile delinquency, criminality, and population loss in the greater Milwaukee, Wisconsin area. This nonprofit aims to address these challenges not only for individuals but also for businesses within the community.
One of the ways MUSIC fulfills its mission is through its involvement in the Library Hill Housing Project in the Downtown area of Milwaukee, commonly known as Westown. The organization works to ensure the stability, safety, and residential and commercial desirability of this area, recognizing that urban conditions can impact the entire greater Milwaukee community.
In addition to the Library Hill Housing Project, MUSIC is also responsible for the acquisition, maintenance, and management of the 2835 Kilbourn Housing Project located in Milwaukee, Wisconsin. By managing these housing projects, MUSIC contributes to the overall improvement of the community and works towards combating the challenges it faces.
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Impact
July, 2024
Milwaukee Urban Strategic Investment Corp's impact can be seen in its mission to combat urban deterioration, poverty, low educational achievement, juvenile delinquency, criminality, and loss of population in the Greater Milwaukee, Wisconsin area. Through activities such as the construction, maintenance, and management of housing projects like Library Hill and 2835 Kilbourn, this organization contributes to the stability, safety, and desirability of the Westown area in downtown Milwaukee. By addressing urban conditions and providing housing solutions, Milwaukee Urban Strategic Investment Corp plays a significant role in enhancing the quality of life for residents and businesses in the community.
This information is meant to be a general summary of Milwaukee Urban Strategic Investment 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: $486,179
- Program Service Revenue: $3,495,449
- Gross Receipts: $3,981,628
Assets and Liabilities:
- Total Assets: $21,147,272
- Total Liabilities: $22,630,142
- Net Assets: -$1,482,870
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME - RESIDE
Revenue
$3,188,724
PARKING INCOME
Revenue
$247,891
RENTAL INCOME - COMMER
Revenue
$56,555
STORAGE INCOME
Revenue
$2,279
Organization Details
Founding Year
1996
Phone
(414) 287-4163Principal Officer
Pat O'Brien
Main Address
275 W WISCONSIN AVENUE 220, MILWAUKEE, WI, 53203
NTEE Category
Code: S310 - Community improvement
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