Overview
What is Homestead Affordable Housing Inc?
Homestead Affordable Housing Inc, located in Holton, Kansas, is a dedicated nonprofit organization with a mission to develop affordable housing and support sustainable development in rural communities. They accomplish this by constructing and managing senior apartment complexes, primarily funded through grants, loans, and donated land. Furthermore, Homestead Affordable Housing Inc provides emergency and essential repairs for low-income elderly households, utilizing grants and donations. Additionally, they serve as an approved originator of USDA Rural Development 502 Direct Loans, offering very low-interest loans with no down payment to rural homebuyers. The organization, with a team of 16 employees, is committed to improving housing accessibility and overall community well-being in rural Kansas.
Official website here: www.homesteadks.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star rating.
Homestead Affordable Housing Inc demonstrates a solid level of accountability and financial management, as evidenced by its score of 77%. This rating is derived entirely from the accountability and finance category, highlighting the organization’s commitment to transparency and responsible stewardship of funds. The charity’s program expense ratio of 88.48% indicates a strong focus on program-related activities, which is a positive sign for potential donors.
The organization benefits from having a fully independent board, with 100% of its members meeting this criterion. Additionally, it has a comprehensive audit of financial statements and maintains proper documentation for board meeting minutes. However, the absence of a whistleblower policy may raise concerns regarding the establishment of a safe environment for reporting unethical behavior within the organization.
Overall, while Homestead Affordable Housing Inc shows commendable strengths in governance and program efficiency, the lack of certain policies like the whistleblower policy suggests there is room for improvement in its operational practices. Those looking to support this nonprofit can feel confident in its financial practices, though attention to policy development may enhance its overall governance framework.
This AI summary has been generated from information found on Charity Navigator.
Is Homestead Affordable Housing Inc legitimate?
Homestead Affordable Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homestead Affordable 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $291,575
Professional Fundraising Fees: $0
Other Salaries and Wages: $295,154
For more financial information, click here
Official website here: www.homesteadks.org
What is the mission statement of Homestead Affordable Housing Inc?
Homestead Affordable Housing Inc has a mission to develop affordable housing and aid rural communities in Kansas to achieve sustainable development. The organization constructs and manages affordable senior apartment communities in rural towns, utilizing grants, loans, and donated land. Additionally, Homestead Affordable Housing Inc offers emergency and essential repairs for low-income elderly households through grants and donations. The company is also an approved originator of USDA Rural Development 502 Direct Loans, providing very low-interest loans with no down payment to rural homebuyers.
Official website here: www.homesteadks.org
Who is the CEO of Homestead Affordable Housing Inc?
Thomas Bishop is the Chairperson of Homestead Affordable Housing Inc. The CEO's salary of Homestead Affordable Housing Inc is $177,007 and their total compensation is $205,236.
Official website here: www.homesteadks.org
What is the revenue of Homestead Affordable Housing Inc?
Homestead Affordable Housing Inc's revenue in 2022 was $1,378,982.
Official website here: www.homesteadks.org
Who are the executives of Homestead Affordable Housing Inc and what are their salaries?
The average compensation at Homestead Affordable Housing Inc during 2022 was $36,671. There are 16 employees at Homestead Affordable Housing Inc.
Here are 7 key members and their salaries (Homestead Affordable Housing Inc's CEO's salary is $177,007 and their total compensation is $205,236):
- Compensation: $0
- Related: $0
- Other: $0
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- 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: $177,007
- Related: $0
- Other: $28,229
- Compensation: $65,750
- Related: $0
- Other: $23,617
Official website here: www.homesteadks.org
Where can I find the form 990 for Homestead Affordable Housing Inc?
Homestead Affordable Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.homesteadks.org
Learn more at the official website: www.homesteadks.org
Mission Statement of Homestead Affordable Housing Inc
Homestead Affordable Housing Inc, a nonprofit organization, is dedicated to developing affordable housing and aiding rural Kansas communities in achieving sustainable development. The primary mission of Homestead Affordable Housing Inc is twofold: firstly, they develop and manage affordable senior apartment communities in rural towns. These communities are funded through a combination of grants, loans, and donated land. Secondly, Homestead Affordable Housing Inc extends a helping hand to low-income elderly households by offering emergency and essential repairs. These repairs are funded through grants and donations. Moreover, Homestead Affordable Housing Inc serves as an approved originator of USDA Rural Development 502 Direct Loans. These loans provide very low-interest loans with no down payment to rural homebuyers. Overall, Homestead Affordable Housing Inc plays a vital role in providing affordable housing solutions and essential repairs for vulnerable populations, contributing to the sustainable development of rural communities in Kansas.
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Impact
July, 2024
Homestead Affordable Housing Inc's impact can be seen in its dedication to developing affordable housing and aiding rural Kansas communities in achieving sustainable development. Through their work, Homestead Affordable Housing Inc develops and manages affordable senior apartment communities in rural towns, ensuring that low-income elderly households have access to safe and affordable housing options. Additionally, they provide emergency and essential repairs for these households through grants and donations.
Homestead Affordable Housing Inc's status as an approved originator of USDA Rural Development 502 Direct Loans further highlights their commitment to supporting rural home buyers by providing very low-interest loans with no down payment requirements. By addressing the housing needs of low-income individuals and families in rural areas, Homestead Affordable Housing Inc plays a crucial role in fostering community development and improving overall quality of life.
This information is meant to be a general summary of Homestead Affordable 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: $56,670
- Program Service Revenue: $1,262,359
- Gross Receipts: $1,378,982
Assets and Liabilities:
- Total Assets: $12,702,390
- Total Liabilities: $9,342,173
- Net Assets: $3,360,217
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INCOME HOUSING REN
Revenue
$926,725
ASSET MANAGEMENT FEES
Revenue
$285,464
OTHER PROGRAM REVENUE
Revenue
$29,119
DEVELOPMENT FEES
Revenue
$21,051
Organization Details
Founding Year
1998
Phone
(785) 364-0110Principal Officer
Thomas Bishop
Main Address
603 PENNSYLVANIA, HOLTON, KS, 66436
Website
www.homesteadks.orgNTEE Category
Code: L20 - Housing
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