Overview
What is Wilmington Housing Partnership?
The Wilmington Housing Partnership is a nonprofit organization based in Wilmington, Delaware, specifically at 800 N French Street, 19801. Their primary mission involves collaborating with various private, non-profit, and governmental entities to boost Wilmington's affordable housing stock. They achieve this goal by promoting renovation and rehabilitation, as well as limited new home construction, in strategically selected areas. This nonprofit organization supports low to moderate income individuals by focusing on increasing the availability of affordable housing in the city.
Official website here: www.wilmingtonhousingpartnership
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82%, Three-Star out of Four Star rating. This rating indicates that Wilmington Housing Partnership has a solid performance in terms of accountability and finance, which is crucial for ensuring that donations are utilized effectively. A score of 82% reflects a strong commitment to financial transparency and governance, which is important for building donor trust.
The organization has demonstrated excellent practices, such as maintaining a fully independent board and having comprehensive policies in place, including conflict of interest and whistleblower policies. Their program expense ratio is commendable at nearly 99%, suggesting a significant portion of funds is directed towards their mission, rather than administrative costs. This efficiency is a noted strength that enhances their credibility.
However, a critical area of concern is their liabilities to assets ratio, which stands at 389.51%. This indicates that the organization's liabilities significantly exceed its assets, which could pose financial stability risks in the long term. While the organization shows strong operational integrity, stakeholders may want to monitor this aspect closely as it could impact future sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Wilmington Housing Partnership legitimate?
Wilmington Housing Partnership is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wilmington Housing Partnership 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:
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Official website here: www.wilmingtonhousingpartnership
What is the mission statement of Wilmington Housing Partnership?
The Wilmington Housing Partnership collaborates with various private, non-profit, and governmental entities to enhance the affordability of housing within the city. Their primary goal is to promote renovation and rehabilitation, as well as limited new home construction, in strategically selected areas. This initiative is aimed at supporting low to moderate income individuals by increasing the city's affordable housing stock. The organization also engages in subsidized construction and renovation projects to provide affordable housing solutions.
Official website here: www.wilmingtonhousingpartnership
Who is the CEO of Wilmington Housing Partnership?
Bob Weir is the President of Wilmington Housing Partnership.
Official website here: www.wilmingtonhousingpartnership
What is the revenue of Wilmington Housing Partnership?
Wilmington Housing Partnership's revenue in 2022 was $677,462.
Official website here: www.wilmingtonhousingpartnership
Who are the executives of Wilmington Housing Partnership and what are their salaries?
Here are 5 key members and their salaries:
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Official website here: www.wilmingtonhousingpartnership
Where can I find the form 990 for Wilmington Housing Partnership?
Wilmington Housing Partnership's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wilmingtonhousingpartnership
Learn more at the official website: www.wilmingtonhousingpartnership
Mission Statement of Wilmington Housing Partnership
Wilmington Housing Partnership, a collaborative organization, works towards increasing the city's affordable housing stock. It achieves this goal by promoting renovation and rehabilitation, as well as limited new home construction, in strategically selected areas. The organization's mission is to support low to moderate income individuals by subsidizing the construction and renovation of affordable housing units. By collaborating with private, non-profit, and governmental entities, Wilmington Housing Partnership aims to make a significant impact on the availability and accessibility of affordable housing within the community.
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Impact
July, 2024
Wilmington Housing Partnership collaborates with various entities to increase the city of Wilmington's affordable housing stock by promoting renovation, rehabilitation, and limited new home construction in strategically selected areas. This organization supports low to moderate-income individuals by subsidizing the construction and renovation of affordable housing in Wilmington, Delaware. Their impact can be seen in the improved availability of affordable housing options for residents in the city, helping to address housing needs for those in need of assistance.
This information is meant to be a general summary of Wilmington Housing Partnership. 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: -$331,483
- Gross Receipts: $1,900,225
Assets and Liabilities:
- Total Assets: $945,086
- Total Liabilities: $4,100,179
- Net Assets: -$3,155,093
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Organization Details
Founding Year
1989
Principal Officer
Bob Weir
Main Address
800 N FRENCH STREET, Wilmington, DE, 19801
NTEE Category
Code: L200 - Housing
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