Overview
What is Cardinal Homes Inc?
Cardinal Homes Inc, based in Fergus Falls, Minnesota, is a dedicated nonprofit organization that specializes in providing subsidized housing for low-income individuals, the disabled, and the elderly. Their mission encompasses offering affordable living spaces to those in need, ensuring that essential housing is accessible to all. The organization operates with a focus on enhancing the quality of life for its residents, catering to their unique needs and circumstances.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Star rating).
Cardinal Homes Inc has received a Two-Star rating from Charity Navigator, primarily based on its Accountability & Finance score of 67%. This score indicates that while the organization has strengths, particularly in governance with 100% independent board members and no material diversion of assets, there are notable weaknesses in transparency and policy disclosures. The organization scored low on several key disclosure aspects, including missing conflict of interest, whistleblower, and document retention policies.
Despite the financial accountability demonstrated by a high program expense ratio of 96.65%, which signifies that a large portion of its funding is directed towards programs rather than administrative costs, the organization's liabilities to assets ratio of 81.01% raises concerns regarding financial stability. Moreover, the absence of essential disclosures on their website, as required by tax form guidelines, undermines public trust and could affect potential donor engagement.
In summary, while Cardinal Homes Inc shows commendable governance practices and a strong commitment to program spending, it faces challenges in transparency and financial health that might impact its effectiveness and sustainability. Improved adherence to disclosure policies could enhance its standing and assure donors of its accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Cardinal Homes Inc legitimate?
Cardinal Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cardinal Homes 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 Cardinal Homes Inc?
Cardinal Homes Inc. is committed to providing subsidized housing for individuals who are financially challenged, disabled, or elderly. This mission is carried out by offering affordable housing options to these groups, ensuring they have a place to live with dignity and security. The organization's activities are centered around making housing accessible and affordable, thereby improving the living conditions of these vulnerable groups. Cardinal Homes Inc. plays a significant role in providing a roof over the heads of those who might otherwise struggle to afford it, thus contributing to their overall well-being. The organization's primary focus is on ensuring that everyone, regardless of their income level or disability status, has access to safe and affordable housing.
Who is the CEO of Cardinal Homes Inc?
Garnet Muehlhausen is the Director of Cardinal Homes Inc.
What is the revenue of Cardinal Homes Inc?
Cardinal Homes Inc's revenue in 2023 was $542,567.
Who are the executives of Cardinal Homes Inc and what are their salaries?
There 6 volunteers at Cardinal Homes Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Cardinal Homes Inc?
Cardinal Homes Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Cardinal Homes Inc
Cardinal Homes Inc, as stated in its mission, is dedicated to providing subsidized housing for individuals who fall under the categories of low income, disabled, and elderly persons. This nonprofit organization works tirelessly to ensure that these groups have access to affordable housing, which is a fundamental need for everyone. By furnishing subsidized housing, Cardinal Homes Inc seeks to alleviate the housing burden faced by many, enabling these individuals to focus on other aspects of their lives. The organization's mission is a testament to its commitment to promoting equal housing opportunities and improving the quality of life for those who are most in need.
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Impact
July, 2024
Cardinal Homes Inc provides subsidized housing to low-income, disabled, and elderly individuals in Fergus Falls, MN. By offering affordable housing options for vulnerable populations, Cardinal Homes Inc plays a crucial role in promoting economic stability and improving the quality of life for those in need. Their impact can be seen in the provision of safe and secure housing options for individuals who may otherwise struggle to find suitable accommodation. Through their work, Cardinal Homes Inc contributes to creating a more inclusive and supportive community for those who are most in need of assistance.
This information is meant to be a general summary of Cardinal Homes 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 2023.
- Investment Income: $13,101
- Program Service Revenue: $529,466
- Gross Receipts: $542,567
Assets and Liabilities:
- Total Assets: $2,124,166
- Total Liabilities: $1,720,904
- Net Assets: $403,262
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUES
Revenue
$510,804
TENANT CHARGES
Revenue
$18,662
Organization Details
Founding Year
1970
Phone
(218) 739-9506Principal Officer
Garnet Muehlhausen
Main Address
308 SOUTH MILL STREET, FERGUS FALLS, MN, 56537
NTEE Category
Code: L20Z - Housing
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