Overview
What is Housing Promise Corporation?
Housing Promise Corporation is a nonprofit organization based in Los Angeles, California, specifically at 2600 Wilshire Blvd, with a mission to aid in the financing of the development of affordable housing. This initiative is aimed at replacing Aliso Village and is connected to the Housing Authority of the City of Los Angeles, California. The organization's goal is to contribute to the provision of affordable housing in the region, supporting the community's need for suitable housing solutions.
Official website here: www.hacla.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Stars)
Housing Promise Corporation has received a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. This rating is primarily based on the organization’s impressive score in various accountability metrics, indicating a strong commitment to transparency and responsible financial practices.
The nonprofit boasts a perfect score in several critical areas, such as having a fully independent board and no material diversion of assets. Additionally, it has established comprehensive policies regarding conflicts of interest and whistleblower protections, which enhance its governance framework. The organization's ability to maintain a liability to assets ratio of 0% and a program expense ratio of 100% further underscores its dedication to utilizing funds effectively for its mission.
However, while the accountability and finance metrics are strong, there may be limited information regarding program effectiveness or impact, which is not reflected in the current rating focus. Overall, Housing Promise Corporation demonstrates a solid commitment to transparency and responsible management, making it a trustworthy option for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Promise Corporation legitimate?
Housing Promise Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Promise 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.hacla.org
What is the mission statement of Housing Promise Corporation?
The Housing Promise Corporation's mission is centered around providing financial assistance to facilitate the development of affordable housing. Specifically, it focuses on projects managed by the Housing Authority in a particular city. Its primary goal is to contribute to the creation of affordable housing units, as demonstrated by its involvement in replacing the Aliso Village.
Official website here: www.hacla.org
What is the revenue of Housing Promise Corporation?
Housing Promise Corporation's revenue in 2023 was $42,068.
Official website here: www.hacla.org
Who are the executives of Housing Promise Corporation and what are their salaries?
There 3 volunteers at Housing Promise Corporation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.hacla.org
Where can I find the form 990 for Housing Promise Corporation?
Housing Promise Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.hacla.org
Learn more at the official website: www.hacla.org
Mission Statement of Housing Promise Corporation
Housing Promise Corporation, a nonprofit organization, is dedicated to aiding in the financing of the development of affordable housing. Specifically, their mission is centered around supporting the Housing Authority of the City of Los Angeles, California, in the creation of such housing units. The primary goal of Housing Promise Corporation is to contribute to the financing of affordable housing projects, with a focus on replacing the Aliso Village. This commitment to affordable housing development aims to provide a viable living solution for individuals and families in need, contributing to a more equitable and inclusive community.
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Impact
July, 2024
Housing Promise Corporation's impact revolves around its mission to assist in the financing of affordable housing projects, particularly those owned by the Housing Authority of the City of Los Angeles, California. By focusing on the development of affordable housing, the organization plays a vital role in addressing housing challenges in Los Angeles and ensuring that individuals and families have access to safe and affordable living spaces. This impact is significant in helping to combat housing insecurity and improving the overall quality of life for residents in the city.
This information is meant to be a general summary of Housing Promise 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 2023.
- Gross Receipts: $42,068
Assets and Liabilities:
- Total Assets: $3,165,751
- Total Liabilities: $0
- Net Assets: $3,165,751
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Organization Details
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