Overview
What is Sasco Creek Development Corporation?
Sasco Creek Development Corporation is a nonprofit organization situated in Westport, Connecticut, with a primary focus on providing affordable housing. They specialize in low-income, elderly, and disabled housing, as demonstrated by their renovation and operation of Canal Park Apartments, a 50-unit complex located in Westport. The corporation's mission extends beyond this, aiming to develop, redevelop, manage, finance, sponsor, invest in, own, operate, and expand various kinds of affordable housing developments in and around Fairfield County, Connecticut. Their purpose is to contribute to the availability of low- and moderate-income, disabled, elderly, mixed-income, and mixed-use affordable housing developments.
Official website here: www.westportha.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
Sasco Creek Development Corporation has earned a Three-Star rating from Charity Navigator, reflecting a solid score of 88% based on accountability and finance metrics. This rating indicates that the organization demonstrates a commendable level of financial health and transparency, particularly highlighted by high scores in areas such as independent board members and program expense ratios.
The nonprofit's strengths include a fully independent board and strong oversight mechanisms, as evidenced by the zero points deducted for material asset diversion and a high liability-to-assets ratio. However, there are notable areas for improvement, including missing policies on whistleblower protections and document retention, which could impact governance and operational integrity.
Overall, while Sasco Creek Development Corporation shows a positive financial standing and commitment to accountability, addressing the identified gaps in governance policies would enhance its operational effectiveness and strengthen stakeholder trust.
This AI summary has been generated from information found on Charity Navigator.
Is Sasco Creek Development Corporation legitimate?
Sasco Creek Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sasco Creek Development 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: $110,912
For more financial information, click here
Official website here: www.westportha.org
What is the mission statement of Sasco Creek Development Corporation?
Sasco Creek Development Corporation's mission is centered around developing, redeveloping, managing, financing, and sponsoring affordable housing projects. This includes low and moderate income, disabled, elderly, mixed-income, and mixed-use developments. The corporation aims to expand the availability of such housing developments to better serve various demographics. While the detailed description of their mission is not provided, it is clear that their purpose is to contribute to housing affordability in the community.
Specifically, Sasco Creek Development Corporation has undertaken the renovation and operation of Canal Park Apartments, a 50-unit complex located in Westport, Connecticut. This project provides affordable housing for low-income elderly and disabled individuals. This initiative aligns with the corporation's mission to promote affordable housing options for diverse populations.
Official website here: www.westportha.org
Who is the CEO of Sasco Creek Development Corporation?
Carol Martin is the President of Sasco Creek Development Corporation.
Official website here: www.westportha.org
What is the revenue of Sasco Creek Development Corporation?
Sasco Creek Development Corporation's revenue in 2022 was $1,164,196.
Official website here: www.westportha.org
Who are the executives of Sasco Creek Development Corporation and what are their salaries?
There 4 volunteers at Sasco Creek Development Corporation.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $138,438
- Other: $0
Official website here: www.westportha.org
Where can I find the form 990 for Sasco Creek Development Corporation?
Sasco Creek Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.westportha.org
Learn more at the official website: www.westportha.org
Mission Statement of Sasco Creek Development Corporation
Sasco Creek Development Corporation is an organization committed to developing, redeveloping, managing, financing, sponsoring, investing in, owning, operating, and expanding the availability of affordable housing developments. Their mission encompasses low and moderate income, disabled, elderly, mixed-income, and mixed-use housing developments, aiming to cater to a diverse range of individuals and communities. By undertaking such projects, Sasco Creek Development Corporation contributes to making affordable housing more accessible, thereby addressing housing needs within Fairfield County, Connecticut.
One of the initiatives undertaken by Sasco Creek Development Corporation is the renovation and operation of Canal Park Apartments, a 50-unit apartment complex located in Westport, Connecticut. This development provides affordable housing for low-income, elderly, and disabled individuals, thereby demonstrating the organization's commitment to ensuring that everyone has a decent place to live, regardless of their financial situation or specific needs. In this way, Sasco Creek Development Corporation is making a significant contribution to the community by addressing housing inequality and promoting social inclusion.
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Impact
July, 2024
Sasco Creek Development Corporation's impact is primarily focused on renovating and operating Canal Park Apartments, a 50-unit apartment complex in Westport, Connecticut. This initiative provides low-income, elderly, and disabled individuals with affordable housing options. The corporation's mission is to develop, manage, finance, and expand the availability of affordable housing developments in and around Fairfield County, Connecticut, catering to different income levels and demographics. By offering housing opportunities to those in need, Sasco Creek Development Corporation positively contributes to the community's overall well-being and addresses critical housing challenges faced by vulnerable populations.
This information is meant to be a general summary of Sasco Creek Development 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: $46,954
- Program Service Revenue: $237,427
- Gross Receipts: $4,334,692
Assets and Liabilities:
- Total Assets: $17,898,311
- Total Liabilities: $7,661,229
- Net Assets: $10,237,082
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$168,393
OTHER REVENUE
Revenue
$69,034
Organization Details
Founding Year
2012
Phone
(203) 227-4672Principal Officer
Carol Martin
Main Address
5 CANAL STREET, WESTPORT, CT, 06880
Website
www.westportha.orgNTEE Category
Code: L20 - Housing
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