Overview
What is Dragonfly Dreams Housing Inc?
Dragonfly Dreams Housing Inc, situated in Lancaster, Ohio, is a nonprofit organization committed to aiding low-income families, including the elderly and disabled, in securing secure, adequate, and affordable housing opportunities. On average, they accommodate 92.08 families per month, with tenants signing a one-year lease and contributing 30% of their income towards rent while the remaining amount is covered by a housing assistance payment contract with Fairfield Metropolitan Housing Authority. The organization maintains an occupancy rate of 95.92% for its 96 units, falling slightly below the goal of 98%. The nonprofit consistently meets its goal of funding the capital replacement reserve on a monthly basis, based on a 20-year physical needs study.
Official website here: www.fairfieldmha.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star Rating)
Dragonfly Dreams Housing Inc has received a solid rating of 88%, reflecting strong performance in terms of accountability and finance. This rating is based entirely on their Accountability & Finance score, indicating a strong commitment to financial transparency and responsible management of resources. The organization boasts an independent board with a majority of 100% independent members, showcasing a commitment to governance.
Key strengths of the organization include a robust audit and oversight committee, as well as effective policies in place regarding conflict of interest, whistleblower protections, and document retention. The charity has demonstrated no material diversion of assets, which enhances its reputation for financial integrity. Additionally, their low liabilities to assets ratio indicates a sound financial position.
However, the organization received a slightly lower score on program expense ratio, at 63.66%. This suggests that while a significant portion of its expenses are directed towards programs, there is room for improvement to further enhance the impact of its services. Overall, Dragonfly Dreams Housing Inc demonstrates a commendable level of accountability, with some areas identified for potential enhancement in program funding.
This AI summary has been generated from information found on Charity Navigator.
Is Dragonfly Dreams Housing Inc legitimate?
Dragonfly Dreams Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dragonfly Dreams Housing 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.
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For more financial information, click here
Official website here: www.fairfieldmha.org
What is the mission statement of Dragonfly Dreams Housing Inc?
Dragonfly Dreams Housing Inc's mission is centered around assisting low-income families, including the elderly and disabled, in securing safe, adequate, and affordable housing opportunities. This aid is provided as these families strive towards self-sufficiency and enhance the quality of their lives. The organization's focus is on empowering these families to attain a better living situation. They achieve this through housing opportunities, with tenants signing one-year leases and paying 30% of their income towards rent, with the remaining amount covered by a housing assistance payment contract. The organization's 95.92% occupancy rate for its 96 units falls slightly below the goal of 98%, but it has consistently met the goal of funding the capital replacement reserve on a monthly basis.
Official website here: www.fairfieldmha.org
Who is the CEO of Dragonfly Dreams Housing Inc?
Ursula Laveck is the Chairman of Dragonfly Dreams Housing Inc.
Official website here: www.fairfieldmha.org
What is the revenue of Dragonfly Dreams Housing Inc?
Dragonfly Dreams Housing Inc's revenue in 2022 was $714,404.
Official website here: www.fairfieldmha.org
Who are the executives of Dragonfly Dreams Housing Inc and what are their salaries?
Here are 5 key members and their salaries:
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Official website here: www.fairfieldmha.org
Where can I find the form 990 for Dragonfly Dreams Housing Inc?
Dragonfly Dreams Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fairfieldmha.org
Learn more at the official website: www.fairfieldmha.org
Mission Statement of Dragonfly Dreams Housing Inc
Dragonfly Dreams Housing Inc is dedicated to assisting low-income families, including the elderly and disabled, in securing safe, adequate, and affordable housing opportunities. This nonprofit organization aims to support these families as they strive for self-sufficiency and work towards improving their lives.
The mission of Dragonfly Dreams Housing Inc is twofold. Firstly, it seeks to provide housing opportunities to families who are struggling financially. Through a housing assistance payment contract with Fairfield Metropolitan Housing Authority, tenants sign a one-year lease and pay 30% of their income towards rent, with the remaining amount covered by the contract.
Secondly, Dragonfly Dreams Housing Inc aims to help these families achieve self-sufficiency. To this end, they ensure that the occupancy rate of their 96 units is as high as possible, currently at 95.92%, which is slightly below the target of 98%. Additionally, they are committed to funding the capital replacement reserve on a monthly basis, as outlined in a 20-year physical needs study. This reserve ensures that the housing units remain in good condition and can continue to provide safe and adequate living spaces for the families they serve.
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Impact
July, 2024
Dragonfly Dreams Housing Inc's impact is significant in providing safe, adequate, and affordable housing opportunities to low-income families, including those who are elderly or disabled. On average, the organization houses 92.08 low-income families each month in its 96 units. Tenants pay 30% of their income towards rent, with the rest covered by a housing assistance payment contract with the Fairfield Metropolitan Housing Authority. Despite a slightly lower occupancy rate of 95.92% compared to the goal of 98%, Dragonfly Dreams Housing Inc continues to meet its objective of funding the capital replacement reserve on a monthly basis as outlined in a 20-year physical needs study. The organization's mission to support families in achieving self-sufficiency and improving their quality of life is reflected in its dedicated efforts to provide stable housing for those in need.
This information is meant to be a general summary of Dragonfly Dreams Housing 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 2022.
- Investment Income: $6,309
- Program Service Revenue: $708,095
- Gross Receipts: $714,404
Assets and Liabilities:
- Total Assets: $2,800,751
- Total Liabilities: $0
- Net Assets: $2,800,751
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PUBLIC HOUSING PROJECT
Revenue
$704,888
Organization Details
Founding Year
2015
Phone
(740) 653-6618Principal Officer
Ursula Laveck
Main Address
315 N COLUMBUS STREET, LANCASTER, OH, 431303002
Website
www.fairfieldmha.orgNTEE Category
Code: L21 - Housing
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