Overview
What is Stafford United Methodist Housing Development Corporation?
Stafford United Methodist Housing Development Corporation is a nonprofit organization dedicated to catering to the housing needs of low-income elderly and handicapped individuals. Based on funding from HUD Section 207, they offer 23 subsidized apartments as an affordable housing solution. Their mission is centered around providing a secure living space for this specific demographic, ensuring they maintain dignity and independence within their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 65%, Two-Star out of Four Star rating.
The Stafford United Methodist Housing Development Corporation has received a Two-Star rating from Charity Navigator, primarily based on its Accountability & Finance score of 65%. The rating highlights strong aspects such as having a majority of independent board members, an independent board size that meets expectations, and no reported material diversion of assets. However, the charity faces challenges due to missing policies regarding whistleblower protection and document retention, which are critical for transparency and governance.
Additionally, while the organization demonstrates a high program expense ratio of 90.95%, indicating that a significant portion of its budget is directed towards its programs, it has a concerning liabilities to assets ratio of 126.41%. This suggests that the organization may have more liabilities than assets, raising questions about its financial stability and long-term sustainability.
Overall, the Stafford United Methodist Housing Development Corporation shows promising governance with strong board independence and financial accountability in many areas; however, the lack of certain policies and the high liabilities may warrant further scrutiny for potential donors and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Stafford United Methodist Housing Development Corporation legitimate?
Stafford United Methodist Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Stafford United Methodist 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: $37,818
For more financial information, click here
What is the mission statement of Stafford United Methodist Housing Development Corporation?
Stafford United Methodist Housing Development Corporation is dedicated to serving the housing needs of low-income elderly and handicapped individuals. They achieve this through the operation of 23 subsidized apartments, granted by HUD Section 207. The corporation's mission is centered around providing affordable housing for this specific demographic, demonstrating a commitment to social welfare and inclusion. By offering subsidized living spaces, they aim to enhance the quality of life for these individuals, ensuring they have a secure and comfortable place to call home.
Who is the CEO of Stafford United Methodist Housing Development Corporation?
Larry Dickenson is the President of Stafford United Methodist Housing Development Corporation.
What is the revenue of Stafford United Methodist Housing Development Corporation?
Stafford United Methodist Housing Development Corporation's revenue in 2023 was $190,254.
Who are the executives of Stafford United Methodist Housing Development Corporation and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990 for Stafford United Methodist Housing Development Corporation?
Stafford United Methodist Housing Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Stafford United Methodist Housing Development Corporation
Stafford United Methodist Housing Development Corporation is dedicated to providing affordable housing solutions for low-income elderly and handicapped individuals. This nonprofit organization, granted 23 subsidized apartments by HUD Section 207, is committed to fulfilling this mission. Their primary focus is on ensuring that this vulnerable demographic has access to secure and affordable living spaces. By offering subsidized apartments, Stafford United Methodist Housing Development Corporation is making a significant contribution to the well-being of this community, enabling them to live with dignity and independence.
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Impact
October, 2024
Stafford United Methodist Housing Development Corporation plays a significant role in enhancing the quality of life for low-income elderly and handicapped individuals in Roanoke, Virginia. By providing 23 subsidized apartments through HUD Section 207, it addresses a critical need for affordable housing within the community.
The impact of this initiative extends beyond simply offering a roof over their heads; it fosters a sense of security and stability for residents, allowing them to maintain their independence and dignity. The presence of affordable housing options dramatically improves the living conditions for those who might otherwise struggle to find suitable accommodations. This organization not only contributes to individual wellbeing but also strengthens the overall fabric of the community by supporting a vulnerable demographic that often faces social and economic challenges.
This information is meant to be a general summary of Stafford United Methodist 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: $22
- Program Service Revenue: $78,595
- Gross Receipts: $190,254
Assets and Liabilities:
- Total Assets: $912,548
- Total Liabilities: $1,153,617
- Net Assets: -$241,069
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$78,595
Organization Details
Founding Year
1990
Phone
(540) 354-8022Principal Officer
Larry Dickenson
Main Address
1706 GRANDIN ROAD SW, ROANOKE, VA, 24015
NTEE Category
Code: L22Z - Housing
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