Overview
What is Magnolia Community Development Corp?
Magnolia Community Development Corp is a nonprofit organization situated in Opelousas, Louisiana. Their primary focus is on improving housing conditions, particularly for veterans. They accomplish this through two programs: The Federal Home Loan Bank (FHLB) Single-Family Home Loan Program (SNAP) and The Housing and Community Development Agency's (HCDA) American Housing Reinvestment Corporation (AHRV) Program. By utilizing these programs, Magnolia Community Development Corp has successfully renovated and repaired six veteran-owned homes, providing them with safe and habitable living spaces. In addition to this, they construct and sell homes to families with low incomes, contributing to the overall betterment of their community.
Is Magnolia Community Development Corp legitimate?
Magnolia Community Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Magnolia Community Development 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: $61,743
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Magnolia Community Development Corp?
Magnolia Community Development Corp's mission revolves around housing, specifically renovating and repairing homes for veterans. They accomplish this through the use of two programs: The FHLB SNAP Program and The HAC AHRV Program. This initiative aims to provide suitable living spaces for veteran homeowners. Additionally, the corporation extends its services to construct and sell houses for low-income families, contributing to housing solutions within the community.
Who is the CEO of Magnolia Community Development Corp?
Ralph Broussard is the Executive Dir. of Magnolia Community Development Corp.
What is the revenue of Magnolia Community Development Corp?
Magnolia Community Development Corp's revenue in 2022 was $382,608.
Who are the executives of Magnolia Community Development Corp and what are their salaries?
The average compensation at Magnolia Community Development Corp during 2022 was $61,743. There is 1 employee at Magnolia Community Development Corp.
Here are 8 key members and their salaries:
- Compensation: $61,743
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Where can I find the form 990 for Magnolia Community Development Corp?
Magnolia Community Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Magnolia Community Development Corp
Magnolia Community Development Corporation, a nonprofit organization, is dedicated to improving housing for veterans. Through strategic partnerships with The FHLB Snap Program and The Hac Ahrv Program, they have renovated and repaired six homes specifically belonging to veteran homeowners. This commitment to veteran welfare is evident in their mission to enhance living spaces for those who have served their country. In addition to renovation projects, Magnolia Community Development Corporation also builds and sells houses to low-income families, further expanding their contribution to the housing sector.
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Impact
October, 2024
Magnolia Community Development Corp has made a significant impact in the Opelousas community by focusing on housing improvements for veterans and low-income families. Through initiatives like the FHLB Snap Program and the HAC AHRV Program, they have renovated and repaired six homes owned by veterans, enhancing the living conditions for those who have served the country. Additionally, by building and selling houses to low-income families, they contribute to community stability and economic growth. Their efforts not only improve individual living situations but also foster a sense of community improvement in the area.
This information is meant to be a general summary of Magnolia Community Development 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.
- Program Service Revenue: $315,430
- Gross Receipts: $382,608
Assets and Liabilities:
- Total Assets: $199,041
- Total Liabilities: $529,217
- Net Assets: -$330,176
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
2 HOUSE SALES
Revenue
$310,000
PROGRAM SERVICE REVENUE
Revenue
$5,430
Organization Details
Founding Year
2010
Phone
(337) 351-0045Principal Officer
Ralph Broussard
Main Address
5367 I-49 S SERVICE RD, OPELOUSAS, LA, 70570
NTEE Category
Code: S20 - Community improvement
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