Overview
What is Mm Nonprofit Housing Corporation?
Mm Nonprofit Housing Corporation is a committed organization based in Boyne City, Michigan. Their primary focus is on the development, ownership, and management of a 10-unit low-income housing project situated in East Jordan, MI. This project aims to provide affordable housing solutions for individuals in need, contributing to the community's social fabric by offering appropriate living spaces.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 69%, Two-Star out of Four Star rating
Mm Nonprofit Housing Corporation has received a Two-Star rating from Charity Navigator, indicating a moderately satisfactory performance in terms of accountability and finance. The organization scored 69% overall, with particular strengths in governance, as evidenced by a fully independent board and the absence of asset diversion. The charity demonstrates transparency by documenting board meeting minutes and maintaining a favorable liabilities to assets ratio.
Financially, the nonprofit maintains a solid program expense ratio of 66.95%, reflecting a commitment to allocating funds toward its programs. This suggests the organization is effectively using its resources to further its mission. However, the overall rating indicates there may be areas for improvement, particularly as the score falls below the threshold for a higher rating.
While key personnel salaries show a reasonable compensation for the president, with no salaries listed for other directors, this suggests a focus on minimizing administrative costs. Overall, while Mm Nonprofit Housing Corporation exhibits strong governance and financial practices, the Two-Star rating highlights the need for enhancement in operational efficiency and fundraising efforts to bolster its overall impact.
This AI summary has been generated from information found on Charity Navigator.
Is Mm Nonprofit Housing Corporation legitimate?
Mm Nonprofit Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mm Nonprofit Housing 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: $21,819
For more financial information, click here
What is the mission statement of Mm Nonprofit Housing Corporation?
The Mm Nonprofit Housing Corporation's mission revolves around the development and management of a specific housing project. More specifically, they focus on providing affordable housing units for individuals with low income. Their activities are centered around the establishment, ownership, and maintenance of a 10-unit housing project. The corporation's goal is to contribute to the housing sector, providing living spaces for those in need. Their work is geared towards enhancing the quality of life for individuals by offering them suitable and affordable housing options.
Who is the CEO of Mm Nonprofit Housing Corporation?
Jane S Mackenzie is the Director of Mm Nonprofit Housing Corporation.
What is the revenue of Mm Nonprofit Housing Corporation?
Mm Nonprofit Housing Corporation's revenue in 2022 was $92,046.
Who are the executives of Mm Nonprofit Housing Corporation and what are their salaries?
There 7 volunteers at Mm Nonprofit Housing Corporation.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Mm Nonprofit Housing Corporation?
Mm Nonprofit Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mm Nonprofit Housing Corporation
Mm Nonprofit Housing Corporation is dedicated to the development and management of a 10-unit low-income housing project. This mission involves the ownership and day-to-day operations of this housing unit, ensuring it serves as a viable and affordable living solution for individuals who fall under the low-income bracket. The corporation's role is crucial in providing a secure and comfortable living environment for these individuals, contributing to the betterment of their living circumstances.
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Impact
October, 2024
Mm Nonprofit Housing Corporation significantly impacts the community by developing and managing a 10-unit low-income housing project in East Jordan, MI. This initiative addresses the critical need for affordable housing in the region, providing stable living conditions for families who might otherwise struggle to find adequate shelter. By enhancing access to affordable housing, Mm Nonprofit Housing Corporation fosters greater economic stability and well-being for residents. The project not only contributes to the local housing supply but also promotes community development and inclusion, making a lasting difference in the lives of those it serves.
This information is meant to be a general summary of Mm Nonprofit Housing 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: $44
- Program Service Revenue: $92,002
- Gross Receipts: $92,046
Assets and Liabilities:
- Total Assets: $1,262,540
- Total Liabilities: $21,765
- Net Assets: $1,240,775
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$92,002
Organization Details
Founding Year
2014
Phone
(231) 582-6244Principal Officer
Jane S Mackenzie
Main Address
PO BOX 86, BOYNE CITY, MI, 49712
NTEE Category
Code: L21 - Housing
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