Overview
What is Albia Community Betterment Corporation?
Albia Community Betterment Corporation is a nonprofit organization, situated in Albia, Iowa, dedicated to fostering residential home development within the city. They have acquired land and transformed it into residential lots, with 16 available in their Country View Subdivision. Additionally, the organization has a contractor buyback program, offering financial assistance to contractors who fail to sell a spec home within a year, ensuring they recoup their costs with no profit loss. While primarily focused on housing development, Albia Community Betterment Corporation also extends their support to local community projects, donating limited funds when necessary.
Is Albia Community Betterment Corporation legitimate?
Albia Community Betterment Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Albia Community Betterment Corporation 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Albia Community Betterment Corporation?
The Albia Community Betterment Corporation's mission is centered around promoting residential home development. This is achieved by purchasing land and dividing it into residential lots for sale. Occasionally, the corporation engages in promoting spec home construction by offering a buyback program for contractors, providing a safety net for a one-year project completion. Over the years, the corporation has also chosen to donate limited funds to various community projects. Their activities are entirely dedicated to these residential development initiatives and community support.
Who is the CEO of Albia Community Betterment Corporation?
Daniel D Stocker is the President of Albia Community Betterment Corporation.
What is the revenue of Albia Community Betterment Corporation?
Albia Community Betterment Corporation's revenue in 2022 was -$15,891.
Who are the executives of Albia Community Betterment Corporation and what are their salaries?
There 7 volunteers at Albia Community Betterment Corporation.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Albia Community Betterment Corporation?
Albia Community Betterment Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Albia Community Betterment Corporation
Albia Community Betterment Corporation, in its mission, is dedicated to fostering residential home development within the city. The organization has taken an active role in this endeavor by acquiring land and dividing it into residential lots for sale. Beyond this, Albia Community Betterment Corporation has occasionally supported speculative home construction projects by offering a buyback program for contractors. This buyback program acts as a financial safety net, allowing contractors to recoup their costs within a year of completing a project. Furthermore, the corporation has shown its commitment to community projects by donating limited funds to various initiatives over the years. Overall, Albia Community Betterment Corporation's mission revolves around promoting residential home development within a city, providing support to contractors, and contributing to local community projects.
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Impact
October, 2024
Albia Community Betterment Corporation significantly impacts its local community by fostering residential home development in Albia, Iowa. By purchasing land and subdividing it into residential lots, the Corporation facilitates new housing opportunities for residents, directly contributing to growth within the city.
Currently, the Country View Subdivision includes two completed phases and has the potential for further development, with 16 lots available for sale. This initiative not only enhances the residential landscape but also encourages investment in the local housing market.
Moreover, the Corporation supports contractors through a buyback program, which provides a safety net for builders by ensuring they can recoup costs on unsold spec homes after a year. This innovative approach reduces financial risk for developers and encourages them to construct more homes, ultimately benefiting the community with diverse housing options.
Additionally, by occasionally directing limited funds to community projects, the Corporation demonstrates its commitment to improving the overall quality of life in Albia, ensuring that community needs are met alongside housing development. Overall, the Albia Community Betterment Corporation plays a crucial role in stimulating residential growth and enhancing community resources.
This information is meant to be a general summary of Albia Community Betterment Corporation. 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: -$18,591
- Gross Receipts: $120,141
Assets and Liabilities:
- Total Assets: $1,157,783
- Total Liabilities: $0
- Net Assets: $1,157,783
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Organization Details
Founding Year
1977
Phone
(641) 932-2144Principal Officer
Daniel D Stocker
Main Address
19 Benton Ave E, Albia, IA, 525312032
NTEE Category
Code: S32 - Community improvement
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