Overview
What is Southern Indiana Community Housing Corporation?
The Southern Indiana Community Housing Corporation is a nonprofit organization situated in New Albany, Indiana. Its primary mission is to reinforce and expand the initiatives of the New Albany Housing Authority within Floyd County and broader Southern Indiana. This is achieved by augmenting the supply of affordable housing in the region. As of March 31, 2022, the organization manages 101 units of affordable housing, catering to low-income tenants. Its operations are supported by funding from a related organization, which aids in subsidizing the housing units.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71% (Two-Star out of Four Star rating)
The Southern Indiana Community Housing Corporation has received a Two-Star rating from Charity Navigator, which indicates a moderate level of performance in terms of accountability and finance. The organization scored 71% overall, with notable strengths in its financial statements, receiving full points for audit quality and a low liabilities to assets ratio of 5.58%. Additionally, it has a high program expense ratio of 91.29%, indicating that a significant portion of its funds is directed towards its programs.
However, the organization faces significant challenges in governance and transparency. It has a concerning lack of independent board members, with 0% participation, which may raise questions about oversight and accountability. Furthermore, the absence of several important policies, such as a whistleblower policy and document retention guidelines, as well as missing website listings for financial documents, suggest areas for improvement in organizational practices.
Overall, while the Southern Indiana Community Housing Corporation demonstrates strong programmatic financial health, its governance and transparency issues may hinder its effectiveness and trustworthiness in the eyes of potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Southern Indiana Community Housing Corporation legitimate?
Southern Indiana Community Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southern Indiana Community 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Southern Indiana Community Housing Corporation?
The Southern Indiana Community Housing Corporation is committed to supporting and expanding the initiatives of the New Albany Housing Authority within its local community. Their primary goal is to contribute to this cause by increasing the availability of affordable housing options in the Southern Indiana region. As of March 31, 2022, they manage and lease 101 such units to low-income tenants. The organization receives financial assistance from a related entity to subsidize these housing units.
Who is the CEO of Southern Indiana Community Housing Corporation?
David C Duggins Jr is the Executive Director of Southern Indiana Community Housing Corporation.
What is the revenue of Southern Indiana Community Housing Corporation?
Southern Indiana Community Housing Corporation's revenue in 2022 was $816,463.
Who are the executives of Southern Indiana Community Housing Corporation and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $189,006
- Other: $30,655
- Compensation: $0
- Related: $108,506
- Other: $19,625
- Compensation: $0
- Related: $91,853
- Other: $16,651
- Compensation: $0
- Related: $66,109
- Other: $17,019
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Southern Indiana Community Housing Corporation?
Southern Indiana Community Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Southern Indiana Community Housing Corporation
Southern Indiana Community Housing Corporation, in its mission, aims to reinforce and augment the initiatives of the New Albany Housing Authority within Floyd County and the broader Southern Indiana community. By doing so, the organization seeks to contribute substantially to the cause of making affordable housing more widely available in the region. In essence, its objective is to bolster the efforts of the New Albany Housing Authority and expand the supply of affordable housing options within Southern Indiana. The organization accomplishes this by providing financial support and leasing affordable housing units to low-income individuals, as of March 31, 2022, they have 101 units in their portfolio. Funding for these units is often subsidized by a related organization.
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Impact
July, 2024
Southern Indiana Community Housing Corporation's impact is significant in providing affordable housing options for low-income individuals in Southern Indiana. Through leasing 101 units as of March 31, 2022, the organization plays a crucial role in addressing the housing needs of the community. By receiving funding from a related organization to subsidize these units, Southern Indiana Community Housing Corporation helps ensure that individuals and families have access to safe and affordable housing options. This directly contributes to improving the quality of life for residents in New Albany, Floyd County, and the Greater Southern Indiana community as a whole.
This information is meant to be a general summary of Southern Indiana Community 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$16,489
- Program Service Revenue: $804,133
- Gross Receipts: $853,463
Assets and Liabilities:
- Total Assets: $3,118,601
- Total Liabilities: $102,312
- Net Assets: $3,016,289
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Organization Details
Founding Year
2014
Phone
(812) 206-2061Principal Officer
David C Duggins Jr
Main Address
PO Box 11, New Albany, IN, 47151
NTEE Category
Code: L99 - Housing
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