Overview
What is Simba Housing Inc F/K/A K & T Development Corporation?
Simba Housing Inc, formerly known as K & T Development Corporation, is a nonprofit organization situated in Omaha, Nebraska. Its primary mission is to improve the community by constructing and maintaining public buildings, monuments, or works. Beyond this, the organization is dedicated to promoting social welfare, particularly by combating community deterioration and juvenile delinquency. To achieve these objectives, Simba Housing develops low-income housing as part of its mission. The organization engages in various programs aimed at uplifting the community and providing opportunities for its members.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52%, One-Star out of Four Star Rating
Simba Housing Inc, formerly known as K & T Development Corporation, has received a low rating of 52% on Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The charity scored particularly poorly on board independence, with no independent members, and lacks critical governance policies, such as a conflict of interest policy and a whistleblower policy. These deficiencies highlight potential issues with oversight and transparency.
On a positive note, Simba Housing demonstrates a strong commitment to its programs, as evidenced by a program expense ratio of 97.79%, indicating that nearly all of its expenses are directed towards its mission. The organization also performs well in financial oversight, with no reported material diversion of assets.
However, the absence of essential governance documents and policies, along with a high liabilities to assets ratio of 87.61%, raises red flags about the organization's financial health and sustainability. Overall, while the charity shows promise in its program spending, its governance practices need significant improvement to build trust and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Simba Housing Inc F/K/A K & T Development Corporation legitimate?
Simba Housing Inc F/K/A K & T Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Simba Housing Inc F/K/A K & T 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: $261,972
For more financial information, click here
What is the mission statement of Simba Housing Inc F/K/A K & T Development Corporation?
Simba Housing Inc., formerly known as K & T Development Corporation, is committed to constructing and maintaining public structures, monuments, or works. Their primary mission is to promote social welfare by advocating for organizations that aim to combat community deterioration and juvenile delinquency. By organizing programs, they contribute to the betterment of communities and work towards reducing youth-related issues. Additionally, they develop low-income housing as part of their mission to improve living conditions and contribute to overall community well-being.
What is the revenue of Simba Housing Inc F/K/A K & T Development Corporation?
Simba Housing Inc F/K/A K & T Development Corporation's revenue in 2023 was $3,001,366.
Who are the executives of Simba Housing Inc F/K/A K & T Development Corporation and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $58,785
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Simba Housing Inc F/K/A K & T Development Corporation?
Simba Housing Inc F/K/A K & T Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Simba Housing Inc F/K/A K & T Development Corporation
Simba Housing Inc F/K/A K & T Development Corporation is an organization dedicated to constructing and maintaining public structures, monuments, and works, with a primary goal of promoting social welfare. They accomplish this mission by organizing programs aimed at combating community deterioration and juvenile delinquency. One of their key initiatives involves the development of low-income housing, aligning with their commitment to improving societal conditions. By focusing on these areas, Simba Housing Inc contributes to the betterment of communities and the well-being of its residents.
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Impact
July, 2024
Simba Housing Inc, formerly known as K & T Development Corporation, plays a vital role in constructing and maintaining public buildings, monuments, and other works that contribute to the improvement of communities. In addition, the organization actively works to combat community deterioration and juvenile delinquency through its various programs and initiatives. One significant aspect of its impact is the development of low-income housing, which helps address the pressing need for affordable housing in the Omaha, NE area. By focusing on these key areas, Simba Housing is making a tangible difference in promoting social welfare and enhancing the quality of life for residents in the communities it serves.
This information is meant to be a general summary of Simba Housing Inc F/K/A K & T 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 2023.
- Investment Income: $12,528
- Program Service Revenue: $2,653,375
- Gross Receipts: $5,565,903
Assets and Liabilities:
- Total Assets: $6,117,337
- Total Liabilities: $5,529,982
- Net Assets: $587,355
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$2,653,375
Organization Details
Principal Officer
Aaron Flaugh
NTEE Category
Code: Z99Z - Unknown
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