Overview
What is Louisiana Homebuyer Education Collaborative Inc?
Louisiana Homebuyer Education Collaborative Inc., based in New Orleans, Louisiana, is a nonprofit organization dedicated to promoting affordable housing across all income levels. They achieve this goal through Housing NOLA, a report released in 2015, which serves as a guide for nonprofits, government entities, and the private sector to collaborate in creating equitable, sustainable, and affordable housing solutions. The Louisiana Homebuyer Education Collaborative, Inc. (LHEC) specifically supports organizations providing first-time homebuyer education, financial literacy, credit counseling, and foreclosure prevention services. They ensure that these organizations adhere to LHEC's core curriculum and quality standards and annually certify those that meet these criteria, ensuring prospective homebuyers receive a high-quality financial education. The organization currently employs 6 individuals.
Official website here: www.housingnola.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 55%, One-Star out of Four Star rating.
The Louisiana Homebuyer Education Collaborative Inc has received a low overall score of 55%, which is indicative of potential issues with accountability and finance practices. While the organization excels in material diversion of assets and maintains a low liabilities to assets ratio, it struggles with essential governance policies, scoring zero on policies related to conflict of interest, whistleblower protections, and document retention.
Strengths of the organization include a strong program expense ratio of 82.69%, which demonstrates a commitment to utilizing funds effectively for its programs. Additionally, the organization scores well in areas such as equity strategies and community culture, reflecting its potential to positively engage with and serve the community. However, the lack of critical policies and documentation raises concerns about transparency and governance practices.
Overall, while the Louisiana Homebuyer Education Collaborative Inc appears to be effective in certain operational areas, the significant gaps in governance and accountability could pose risks for stakeholders. Prospective donors and supporters may want to consider these factors when evaluating their contributions to the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Louisiana Homebuyer Education Collaborative Inc legitimate?
Louisiana Homebuyer Education Collaborative Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Louisiana Homebuyer Education Collaborative Inc 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: $91,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $315,388
For more financial information, click here
Official website here: www.housingnola.org
What is the mission statement of Louisiana Homebuyer Education Collaborative Inc?
The Louisiana Homebuyer Education Collaborative Inc. is a non-profit organization with a mission to support organizations that provide first-time homebuyer education, financial literacy, credit counseling, foreclosure prevention, and related services. It ensures these organizations adhere to its core curriculum and quality standards, annually certifying those that meet these criteria. This is done to guarantee prospective homebuyers receive a high-quality financial education, ensuring they are well-equipped to navigate the homebuying process.
Official website here: www.housingnola.org
What is the revenue of Louisiana Homebuyer Education Collaborative Inc?
Louisiana Homebuyer Education Collaborative Inc's revenue in 2023 was $2,666,976.
Official website here: www.housingnola.org
Who are the executives of Louisiana Homebuyer Education Collaborative Inc and what are their salaries?
The average compensation at Louisiana Homebuyer Education Collaborative Inc during 2023 was $42,101.
Here are 5 key members and their salaries:
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Official website here: www.housingnola.org
Where can I find the form 990 for Louisiana Homebuyer Education Collaborative Inc?
Louisiana Homebuyer Education Collaborative Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.housingnola.org
Learn more at the official website: www.housingnola.org
Mission Statement of Louisiana Homebuyer Education Collaborative Inc
Louisiana Homebuyer Education Collaborative, Inc. is a non-profit organization with a mission to support other organizations that provide financial education, credit counseling, foreclosure prevention, and related services to first-time homebuyers. The collaborative ensures that these organizations adhere to its core curriculum and quality standards, and annually certifies those that meet these requirements. By doing so, Louisiana Homebuyer Education Collaborative, Inc. aims to guarantee that prospective homebuyers receive a high-quality financial education, providing them with the necessary tools to navigate the homebuying process effectively.
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Impact
July, 2024
Louisiana Homebuyer Education Collaborative Inc's impact is evident in its efforts to support organizations providing first-time homebuyers education, financial literacy, credit counseling, foreclosure prevention, and other related services. By ensuring that these organizations adhere to the collaborative's core curriculum and quality standards, Louisiana Homebuyer Education Collaborative Inc contributes to the empowerment of prospective homebuyers through access to quality financial education. This impact ultimately helps individuals navigate the complexities of purchasing a home and making sound financial decisions for their future.
This information is meant to be a general summary of Louisiana Homebuyer Education Collaborative Inc. 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 2023.
- Program Service Revenue: $817,388
- Gross Receipts: $2,666,976
Assets and Liabilities:
- Total Assets: $1,122,686
- Total Liabilities: $160,664
- Net Assets: $962,022
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Strategic Planning
Revenue
$817,388
Organization Details
Founding Year
2014
Principal Officer
Fred J Johnson Jr
Website
www.housingnola.orgNTEE Category
Code: P50 - Human services
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