Overview
What is Community Restoration Corporation?
Community Restoration Corporation (CRC) is a nonprofit organization situated in Irving, Texas. Their primary focus is assisting borrowers in executing various loan modifications, settlements, repayment plans, and deed-in-lieu transactions. To achieve this, CRC collaborates with local organizations and acquires distressed mortgages and real estate owned (REO) properties from lenders. By adopting a community-based approach, they create flexible solutions for families to preserve homeownership or expedite solutions for vacant properties causing neighborhood blight. CRC's initiatives aim to complement existing neighborhood stabilization efforts in communities affected by foreclosures and disinvestment.
Official website here: www.crchomehelp.org
What are the reviews and ratings of this charity?
Community Restoration Corporation has received a Three-Star out of Four Star rating from Charity Navigator, with an overall score of 81%. This rating is predominantly based on their Accountability & Finance score, reflecting the organization's strong financial management practices. Notably, the charity boasts a high program expense ratio of 92.13%, indicating that the majority of its funds are used directly for its charitable activities, which is a positive sign for potential donors.
The organization also demonstrates a solid governance structure, with a fully independent board consisting of eight members and effective policies in place, such as a conflict of interest policy and a whistleblower policy. However, it's important to note that the organization lacks some financial transparency, as it did not provide financial statements or post certain required documents on its website, leading to a neutral score in that area.
User reviews from GreatNonprofits could not be fetched, resulting in a lack of qualitative feedback from the community. Overall, while Community Restoration Corporation shows strengths in financial accountability and governance, their transparency in reporting could be improved.
This AI summary has been generated from information found on Charity Navigator.
Is Community Restoration Corporation legitimate?
Community Restoration Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Restoration 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.crchomehelp.org
What is the mission statement of Community Restoration Corporation?
Community Restoration Corporation works in collaboration with local organizations to acquire distressed mortgages, notes, and Real Estate Owned (REO) properties from lenders. They then develop community-focused disposition strategies for these assets. By taking a community-based approach, CRC creates flexible options for families to preserve homeownership or expedite solutions for vacant properties causing neighborhood blight. This approach complements existing neighborhood stabilization efforts in communities impacted by foreclosures and disinvestment, aiming to improve the overall living conditions and revitalize affected neighborhoods.
Official website here: www.crchomehelp.org
Who is the CEO of Community Restoration Corporation?
Carlos Alcazar is the President of Community Restoration Corporation.
Official website here: www.crchomehelp.org
What is the revenue of Community Restoration Corporation?
Community Restoration Corporation's revenue in 2022 was $7,360,627.
Official website here: www.crchomehelp.org
Who are the executives of Community Restoration Corporation and what are their salaries?
There 4 volunteers at Community Restoration Corporation.
Here are 6 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Official website here: www.crchomehelp.org
Where can I find the form 990 for Community Restoration Corporation?
Community Restoration Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.crchomehelp.org
Learn more at the official website: www.crchomehelp.org
Mission Statement of Community Restoration Corporation
Community Restoration Corporation, or CRC, works in collaboration with local organizations to acquire distressed mortgages, notes, and Real Estate Owned (REO) properties from lenders. Their mission is to develop community-focused disposition strategies for these assets. By adopting a community-oriented approach, CRC offers flexible options to families, enabling them to preserve homeownership or expedite solutions for vacant properties that contribute to neighborhood blight. In doing so, CRC complements existing neighborhood stabilization efforts in communities that have been significantly impacted by foreclosures and disinvestment.
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Impact
July, 2024
Community Restoration Corporation's impact lies in its strategic partnership with local organizations to acquire distressed mortgages/notes and real estate owned (REO) properties from lenders. By working closely with borrowers, CRC successfully executes various loan modifications, settlements, repayment plans, and deed-in-lieus. This approach allows CRC to create community-focused disposition strategies for assets and address challenges related to foreclosures and neighborhood blight. By offering flexible options for families to preserve homeownership and pursuing expedited solutions for vacant properties, CRC complements existing neighborhood stabilization efforts in communities significantly impacted by foreclosures and disinvestment.
This information is meant to be a general summary of Community Restoration 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: $4,277
- Program Service Revenue: $371,164
- Gross Receipts: $7,360,627
Assets and Liabilities:
- Total Assets: $711,603
- Total Liabilities: $26,039
- Net Assets: $685,564
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MISCELLANEOUS LOAN REV
Revenue
$221,365
RECOVERY OF LOAN LOSSE
Revenue
$119,799
RECOVERY OF IMPAIRMENT
Revenue
$30,000
Organization Details
Founding Year
2011
Phone
(214) 710-3332Principal Officer
Carlos Alcazar
Main Address
1200 W WALNUT HILL LANE 1000, IRVING, TX, 75308
Website
www.crchomehelp.orgNTEE Category
Code: L80 - Housing
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