Overview
What is Louisville Housing Opportunity And Micro Enterprise Community?
Louisville Housing Opportunity and Micro Enterprise Community, commonly known as LHOME, is a mission-driven nonprofit financial institution situated in Louisville, Kentucky. Certified as a Community Development Financial Institution (CDFI) by the U.S. Treasury, LHOME primarily serves low-income individuals and businesses residing in historically underserved and discriminated sections of the city, primarily the West and South End neighborhoods. Their primary aim is to provide accessible and affordable loan products and financial coaching services to small business owners, homeowners, and residents in these areas. LHOME's commitment extends to promoting intergenerational wealth opportunities, with over 70% of their clients being non-white. As a CDFI, LHOME plays a crucial role in fostering economic growth and financial stability within Louisville's low- and moderate-income census tracts.
Official website here: www.lhomeky.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 99% (Four-Star out of Four Stars)
The Louisville Housing Opportunity and Micro Enterprise Community has achieved an impressive 99% rating from Charity Navigator, indicating exceptional performance in accountability and financial practices. With a perfect Accountability & Finance score of 100, the organization demonstrates strong governance, with an entirely independent board and comprehensive oversight mechanisms in place. Their commitment to transparency is evident, as they have published their financial statements and relevant policies on their website.
In addition to financial integrity, the nonprofit excels in program expenses, allocating over 72% of its budget directly to its programs. This focus on effective resource allocation suggests a commitment to maximizing the impact of their initiatives within the community. The organization also scored well in Culture & Community, with a score of 89, reflecting their efforts to engage with and support diverse populations through equity strategies.
While the organization has shown robust performance metrics, the data does not highlight any specific areas of concern or limitations. Overall, the Louisville Housing Opportunity and Micro Enterprise Community appears to be a reputable nonprofit dedicated to enhancing housing and microenterprise opportunities in the community.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Louisville Housing Opportunity And Micro Enterprise Community?
While still early in gathering feedback, initial impressions of Louisville Housing Opportunity And Micro Enterprise Community showcase a positive outlook from users. With two reviews highlighting key aspects such as response time and professionalism, it appears that the organization is making a favorable impact in its community.
The reviews also mention its status as an equal opportunity lender, suggesting that the nonprofit is dedicated to fostering inclusivity and access for all individuals seeking housing assistance. Though limited in quantity, the current feedback reflects a commitment to quality service and potentially beneficial interest rates.
Overall, the sentiments surrounding this organization hint at a strong foundation, with early supporters recognizing its importance in promoting affordable housing and micro-enterprise opportunities. As more feedback accumulates, it will be interesting to see if this positive sentiment continues to grow.
This AI summary has been generated from reviews found on Facebook.
Is Louisville Housing Opportunity And Micro Enterprise Community legitimate?
Louisville Housing Opportunity And Micro Enterprise Community is a legitimate nonprofit organization registered as a 501(c)(3) entity. Louisville Housing Opportunity And Micro Enterprise Community 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: $616,207
For more financial information, click here
Official website here: www.lhomeky.org
What is the mission statement of Louisville Housing Opportunity And Micro Enterprise Community?
The Louisville Housing Opportunity and Micro Enterprise Community, often referred to as LHOME, is a mission-driven nonprofit financial institution. Its primary role is to offer accessible and affordable loan products and financial coaching services to low-income small business owners, homeowners, and residents in Louisville, Kentucky. LHOME operates as a Community Development Financial Institution (CDFI), certified by the U.S. Treasury.
LHOME's main commitment is to serve the people and businesses in Louisville's low- and moderate-income census tracts, primarily focusing on the West and South End neighborhoods. The organization's mission extends to creating intergenerational wealth opportunities, with a special emphasis on supporting Louisville's Black and Brown residents. Over 70% of LHOME's clients are non-White, and over 90% reside in historically underserved and discriminated sections of the city.
In essence, LHOME aims to provide financial resources and coaching to help improve the economic well-being of underrepresented communities in Louisville, with the ultimate goal of fostering wealth creation and equality.
Official website here: www.lhomeky.org
Who is the CEO of Louisville Housing Opportunity And Micro Enterprise Community?
Keith H Talley Sr is the Chair of Louisville Housing Opportunity And Micro Enterprise Community. The CEO's salary of Louisville Housing Opportunity And Micro Enterprise Community is $129,500 and their total compensation is $132,311.
Official website here: www.lhomeky.org
What is the revenue of Louisville Housing Opportunity And Micro Enterprise Community?
Louisville Housing Opportunity And Micro Enterprise Community's revenue in 2022 was $2,661,318.
Official website here: www.lhomeky.org
Who are the executives of Louisville Housing Opportunity And Micro Enterprise Community and what are their salaries?
The average compensation at Louisville Housing Opportunity And Micro Enterprise Community during 2022 was $68,467. There are 9 employees and 11 volunteers at Louisville Housing Opportunity And Micro Enterprise Community.
Here are 12 key members and their salaries (Louisville Housing Opportunity And Micro Enterprise Community's CEO's salary is $129,500 and their total compensation is $132,311):
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- Compensation: $129,500
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- Other: $2,811
Official website here: www.lhomeky.org
Where can I find the form 990 for Louisville Housing Opportunity And Micro Enterprise Community?
Louisville Housing Opportunity And Micro Enterprise Community's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lhomeky.org
Learn more at the official website: www.lhomeky.org
Mission Statement of Louisville Housing Opportunity And Micro Enterprise Community
Louisville Housing Opportunity and Micro Enterprise Community, often referred to as LHOME, is a mission-driven nonprofit financial institution dedicated to serving low-income individuals and businesses in Louisville, Kentucky. As a Community Development Financial Institution (CDFI) certified by the U.S. Treasury, LHOME provides accessible and affordable loan products and financial coaching services to small business owners, homeowners, and residents. LHOME's primary focus is on Louisville's historically underserved and discriminated West and South End neighborhoods, with over 70% of its clients being non-white. The organization's commitment is to create intergenerational wealth opportunities, particularly for Louisville's Black and Brown residents. LHOME's mission is not just about providing financial aid but also about serving the community and fostering economic growth in areas that have historically been overlooked.
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Impact
July, 2024
Louisville Housing Opportunity And Micro Enterprise Community, also known as LHOME, is making a significant impact in Louisville, Kentucky. By providing accessible and affordable loan products and financial coaching services to low-income small business owners, homeowners, and residents of underserved neighborhoods, LHOME is actively working to address economic disparities and create intergenerational wealth opportunities, particularly for Black and Brown residents of the city. With a focus on serving low- and moderate-income census tracts, primarily in the West and South End neighborhoods, LHOME is helping to empower individuals and businesses to thrive and succeed. Through their social investments in community lending and financial education, LHOME is contributing to the overall economic development and financial stability of Louisville's marginalized communities.
This information is meant to be a general summary of Louisville Housing Opportunity And Micro Enterprise Community. 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: $78,461
- Gross Receipts: $2,661,318
Assets and Liabilities:
- Total Assets: $4,863,586
- Total Liabilities: $1,928,774
- Net Assets: $2,934,812
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST REVENUE
Revenue
$73,457
OTHER REVENUE
Revenue
$5,004
Organization Details
Founding Year
2011
Phone
(502) 657-5943Principal Officer
Keith H Talley Sr
Main Address
PO BOX 211028, LOUISVILLE, KY, 40221
Website
www.lhomeky.orgNTEE Category
Code: L21 - Housing
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