Elderly Housing Corporation Of Clay County Mn

Charity Navigator Rating: 67% (Two-Star out of Four Star rating)

Elderly Housing Corporation Of Clay County Mn has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and finance management. The organization performs well in several areas, including having a fully independent board and a solid program expense ratio of 100%, indicating that funds are primarily directed toward its programs. They also maintain thorough documentation of board meeting minutes and have no reported material diversion of assets.

However, the organization faces significant challenges in its financial management practices. The liabilities to assets ratio is notably high at 188.15%, which raises concerns about financial stability. Additionally, several key policies, including a conflict of interest policy, whistleblower policy, and document retention policy, are missing, which could impact governance and transparency.

Overall, while Elderly Housing Corporation Of Clay County Mn demonstrates strengths in board independence and program spending, the high liabilities and absence of critical governance policies suggest the need for improvement in overall financial health and accountability practices.

This AI summary has been generated from information found on Charity Navigator.

Elderly Housing Corporation Of Clay County Mn is a legitimate nonprofit organization registered as a 501(c)(3) entity. Elderly Housing Corporation Of Clay County Mn 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: $178,807

For more financial information, click here