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Fairfield Housing Corporation

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 463309807 ✦ Fairfield, CT ✦ Designated as a 501(c)(3)

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Overview

What is Fairfield Housing Corporation?

Fairfield Housing Corporation is a nonprofit organization committed to enhancing affordable housing options for low-income individuals, families, and the elderly. By acquiring, developing, managing, and rehabilitating properties, they create and preserve living spaces that cater to their target demographic. Their mission extends beyond providing housing, as they also offer services to assist residents in maintaining their independence. Moreover, they collaborate with neighboring towns to collectively achieve these housing and community development goals.

What are the reviews and ratings of this charity?

Charity Navigator Rating: 75% (Three-Star out of Four Star rating)

Fairfield Housing Corporation has received a Three-Star rating from Charity Navigator, indicating a moderate level of performance in accountability and finance. The organization's overall score is primarily based on its strong accountability measures, particularly with a fully independent board and well-audited financial statements. However, the absence of a whistleblower policy and a document retention and destruction policy detracts from its overall score.

The organization demonstrates a commitment to transparency with a high program expense ratio of 86.93%, meaning a significant majority of its expenses are directed towards its charitable programs. Additionally, the board is comprised entirely of independent members, which is a positive indicator of governance. However, the liabilities to assets ratio of 64.84% suggests that there are some financial risks that the organization may need to address moving forward.

While there are notable strengths in its governance and financial management, the lack of certain policies and a relatively high liabilities to assets ratio indicate areas for improvement. Addressing these limitations could enhance the organization's effectiveness and sustainability in the long term.


This AI summary has been generated from information found on Charity Navigator.

Is Fairfield Housing Corporation legitimate?

Fairfield Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fairfield 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: $38,377
Professional Fundraising Fees: $0
Other Salaries and Wages: $64,427

For more financial information, click here

What is the mission statement of Fairfield Housing Corporation?

Fairfield Housing Corporation's mission is centered around providing affordable housing opportunities for individuals and families with low to moderate income, as well as the elderly. Their goal is to develop, manage, and rehabilitate these properties, ensuring they maintain a high standard of quality. The corporation also offers services designed to aid these residents in maintaining and enhancing their independence. Furthermore, they collaborate with neighboring towns to share resources and work towards achieving these objectives together.

Who is the CEO of Fairfield Housing Corporation?

Carol Landsman is the President of Fairfield Housing Corporation.

What is the revenue of Fairfield Housing Corporation?

Fairfield Housing Corporation's revenue in 2022 was $515,168.

Who are the executives of Fairfield Housing Corporation and what are their salaries?

There 3 volunteers at Fairfield Housing Corporation.


Here are 4 key members and their salaries:


Carol Martin (Authorizedagent)
  • Compensation: $38,377
  • Related: $48,300
  • Other: $0
Carol Landsman (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Rita Waterman (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Gerry Stuhlman (Treasurer/Vp)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for Fairfield Housing Corporation?

Fairfield Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of Fairfield Housing Corporation

Fairfield Housing Corporation is committed to serving low and moderate income individuals, families, and the elderly by pursuing various activities. Its primary mission is to acquire, develop, manage, rehabilitate, create, and preserve affordable housing opportunities. This endeavor aims to provide these individuals with safe and affordable living spaces, thereby enhancing their quality of life. Additionally, the corporation offers services designed to aid these residents in maintaining and increasing their independence. By collaborating with neighboring towns, Fairfield Housing Corporation seeks to achieve its goals on a broader scale, contributing to the well-being of its community as a whole.

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Impact




July, 2024

Fairfield Housing Corporation's impact is significant in providing affordable housing opportunities for low and moderate-income individuals, families, and the elderly in Fairfield, CT. Through their work to acquire, develop, manage, and rehabilitate housing, they contribute to increasing housing accessibility and affordability for those in need. Additionally, their efforts to provide services that support residents in maintaining and improving their independence further enhance the well-being of the community. By collaborating with neighboring towns, Fairfield Housing Corporation plays a crucial role in addressing housing challenges and fostering a more inclusive and sustainable community.




This information is meant to be a general summary of Fairfield 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.

Revenue
$515,168 (2022)
Expenses
$753,781 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $1,749
  • Program Service Revenue: $91,866
  • Gross Receipts: $515,168

Assets and Liabilities:

  • Total Assets: $5,394,234
  • Total Liabilities: $3,497,858
  • Net Assets: $1,896,376

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

RENTAL REVENUE

Revenue

$91,866

Organization Details

Founding Year

2014

Principal Officer

Carol Landsman

Main Address

15 PINE TREE LANE, FAIRFIELD, CT, 06825

NTEE Category

Code: L20 - Housing

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