Overview
What is Roanoke Chowan Development Corporation?
The Roanoke Chowan Development Corporation is a nonprofit organization situated in Ahoskie, North Carolina. Their primary mission is to offer affordable, low-rent housing to individuals who are either disabled or handicapped. This service is crucial for those whose household income falls below 30% of the local area median income. The corporation's commitment to this cause aims to provide a secure living environment for those in need, thereby contributing positively to their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58%, One-Star out of Four Star rating.
The Roanoke Chowan Development Corporation has received a low rating due to its overall score of 58%, indicating concerns regarding its accountability and financial practices. While it excels in certain areas such as having a fully independent board and a strong program expense ratio of 83.29%, it faces significant issues with its liabilities to assets ratio, which stands at 89.21%. This suggests potential financial instability.
Additionally, the organization has notable gaps in its governance policies, specifically the absence of a conflict of interest policy, a whistleblower policy, and proper document retention and destruction practices. These shortcomings in governance raise questions about transparency and risk management within the organization.
Despite its strengths in board independence and program expenses, the overall rating reflects the need for improvement in financial health and the establishment of essential policies to enhance accountability and trust with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Roanoke Chowan Development Corporation legitimate?
Roanoke Chowan Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Roanoke Chowan 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: $0
For more financial information, click here
What is the mission statement of Roanoke Chowan Development Corporation?
The Roanoke Chowan Development Corporation's mission is centered around providing affordable housing solutions. Specifically, they aim to offer low-rent public housing to individuals who are handicapped or disabled, ensuring that their income does not surpass 30% of the local area median income. This organization's purpose is essentially to make housing more accessible for a segment of the population that may face significant challenges in securing suitable and affordable housing options. By doing so, they contribute to enhancing the quality of life for these individuals and families.
What is the revenue of Roanoke Chowan Development Corporation?
Roanoke Chowan Development Corporation's revenue in 2024 was $63,381.
Who are the executives of Roanoke Chowan Development Corporation and what are their salaries?
There 5 volunteers at Roanoke Chowan Development Corporation.
Here are 5 key members and their salaries:
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- Other: $0
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Where can I find the form 990 for Roanoke Chowan Development Corporation?
Roanoke Chowan Development Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Roanoke Chowan Development Corporation
The Roanoke Chowan Development Corporation is dedicated to serving the housing needs of handicapped or disabled individuals who fall within a specific income bracket. This nonprofit organization's mission is to provide affordable housing options, ensuring that eligible individuals can secure low-rent apartments. Typically, the income of these individuals does not surpass 30% of the local area's median income, making it challenging for them to secure decent housing. By offering such housing opportunities, Roanoke Chowan Development Corporation aims to make a significant impact on the lives of those in need, ensuring they have a roof over their heads and the necessary support to live independently.
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Impact
August, 2024
Roanoke Chowan Development Corporation's impact lies in providing vital low-rent housing to handicapped or disabled individuals in need. By offering affordable accommodations to those with limited financial resources, the organization plays a crucial role in ensuring these individuals have a safe and stable place to call home. This support directly contributes to enhancing the quality of life for those facing physical or mental challenges, enabling them to live with dignity and independence.
This information is meant to be a general summary of Roanoke Chowan 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 2024.
- Program Service Revenue: $25,721
- Gross Receipts: $63,381
Assets and Liabilities:
- Total Assets: $1,220,698
- Total Liabilities: $1,089,094
- Net Assets: $131,604
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Income & Other Tenant Charges
Revenue
$25,721
Organization Details
Founding Year
2015
Principal Officer
Tarsha Dudley
NTEE Category
Code: L20 - Housing
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