Overview
What is Urban Ministry Housing Development Corporation?
Urban Ministry Housing Development Corporation is a nonprofit organization situated in Norfolk, Virginia. Its primary focus is on providing affordable housing for the elderly, operating as a retirement home or senior housing program. Their mission is centered around low-income rental housing, ensuring that elderly individuals have access to suitable living accommodations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (52%)
Urban Ministry Housing Development Corporation has received a one-star rating from Charity Navigator, indicating an overall score of 52%. The charity demonstrates a strong commitment to program expenses, with 91.45% of its expenditures directed toward its programs, which is a positive aspect of its financial management. However, the organization faces significant challenges in governance and accountability, which have adversely impacted its rating.
One major concern is the lack of independent board members, with 0% of its board being independent, raising potential conflicts of interest. Additionally, several critical policies are missing, including those regarding conflict of interest, whistleblower protections, and document retention. The absence of these policies suggests weaknesses in governance that could hinder the organization's effectiveness and transparency.
While the financial statements are well audited, with full marks for the audit process and no material diversion of assets, the liabilities to assets ratio is concerning at 103.30%. This indicates that the organization has more liabilities than assets, which is a risk factor that could affect its long-term sustainability. Overall, Urban Ministry Housing Development Corporation shows strong programmatic focus but needs to make substantial improvements in governance and financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Urban Ministry Housing Development Corporation legitimate?
Urban Ministry Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Urban Ministry Housing 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: $189,527
For more financial information, click here
What is the mission statement of Urban Ministry Housing Development Corporation?
The Urban Ministry Housing Development Corporation is committed to providing low-income rental housing specifically designed for the elderly. Their mission is centered around offering senior housing solutions that cater to individuals with limited financial resources. By focusing on this niche, the corporation aims to make affordable living options available for the elderly population, ensuring they can maintain a comfortable and secure living environment.
Who is the CEO of Urban Ministry Housing Development Corporation?
Eugene J Denardi is the President of Urban Ministry Housing Development Corporation.
What is the revenue of Urban Ministry Housing Development Corporation?
Urban Ministry Housing Development Corporation's revenue in 2023 was $1,163,378.
Who are the executives of Urban Ministry Housing Development Corporation and what are their salaries?
The average compensation at Urban Ministry Housing Development Corporation during 2023 was $15,794. There are 12 employees and 5 volunteers at Urban Ministry Housing Development Corporation.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $20,001
- Other: $0
- Compensation: $0
- Related: $14,000
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $42,000
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Urban Ministry Housing Development Corporation?
Urban Ministry Housing Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Urban Ministry Housing Development Corporation
Urban Ministry Housing Development Corporation is a dedicated organization with a mission to provide affordable housing for the elderly. In simpler terms, this nonprofit focuses on operating a retirement home or senior housing program, catering to individuals with limited income. The corporation's primary objective is to ensure that elderly individuals have access to suitable and affordable living spaces, thereby contributing to their overall well-being and quality of life.
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Impact
July, 2024
Urban Ministry Housing Development Corporation provides essential low-income rental housing for elderly individuals in Norfolk, VA. By offering affordable and safe housing options for seniors in need, this organization directly impacts the lives of elderly individuals who may otherwise struggle to find suitable accommodation. Their focus on providing housing for low-income seniors contributes to enhancing the overall quality of life for this vulnerable population, ensuring they have a comfortable and secure place to call home.
This information is meant to be a general summary of Urban Ministry Housing 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: $638
- Program Service Revenue: $1,162,740
- Gross Receipts: $1,163,378
Assets and Liabilities:
- Total Assets: $2,521,088
- Total Liabilities: $2,604,414
- Net Assets: -$83,326
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Low Income Rental Housing
Revenue
$1,162,740
Organization Details
Founding Year
1982
Phone
(757) 461-4696Principal Officer
Eugene J Denardi
Main Address
972 Norfolk Square, Norfolk, VA, 23502
NTEE Category
Code: L22 - Housing
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