Overview
What is Christian Village Of Central Virginia Inc?
Christian Village of Central Virginia Inc is a Virginia-based nonprofit corporation, established with the purpose of owning and managing a 72-unit apartment community in Mechanicsville, Virginia. This community, named Christian Village of Central Virginia, operates under Section 202 of the Housing Act of 1959. The nonprofit has entered into a regulatory agreement with the Federal Housing Administration (FHA) of the Department of Housing and Urban Development (HUD) for the operation of the community. The organization primarily leases apartment units to elderly individuals, typically under one-year leasing terms.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars
Overall, Christian Village Of Central Virginia Inc received a one-star rating from Charity Navigator, indicating significant concerns about its financial health and accountability. The overall score stands at 55%, which suggests that while the organization has some strengths, there are notable weaknesses that affect its overall standing.
One of the positive aspects of the organization is its governance, as it has achieved full points for having a majority of independent board members and an appropriately sized board. Additionally, it scores well in areas such as document retention and the availability of board meeting minutes, indicating a commitment to transparency in governance practices.
However, the organization's financial performance raises red flags, particularly with a program expense ratio of 61.70%, which is relatively low compared to industry standards. More concerning is the exceptionally high liabilities to assets ratio of 476.23%, reflecting severe financial instability that may jeopardize its operations. These factors contribute to the low rating and suggest a need for the organization to address its financial management practices.
This AI summary has been generated from information found on Charity Navigator.
Is Christian Village Of Central Virginia Inc legitimate?
Christian Village Of Central Virginia Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Christian Village Of Central Virginia 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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What is the mission statement of Christian Village Of Central Virginia Inc?
Christian Village of Central Virginia Inc., as a non-profit organization, was established with the primary purpose of owning and managing a 72-unit apartment community, catering to elderly individuals. The corporation operates under the provisions of Section 202 of the Housing Act of 1959, with a regulatory agreement with the Federal Housing Administration (FHA) and the Department of Housing and Urban Development (HUD). The organization leases units to elderly individuals in the usual course of business, with lease terms typically lasting one year. While the provided information does not specify a formal mission statement, it can be inferred that the mission of Christian Village of Central Virginia Inc. is centered around providing housing solutions for the elderly, operating within the guidelines of the Housing Act of 1959.
Who is the CEO of Christian Village Of Central Virginia Inc?
Sonny Hughes is the President of Christian Village Of Central Virginia Inc.
What is the revenue of Christian Village Of Central Virginia Inc?
Christian Village Of Central Virginia Inc's revenue in 2022 was $491,946.
Who are the executives of Christian Village Of Central Virginia Inc and what are their salaries?
Here are 11 key members and their salaries:
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Where can I find the form 990 for Christian Village Of Central Virginia Inc?
Christian Village Of Central Virginia Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Christian Village Of Central Virginia Inc
Christian Village of Central Virginia Inc, as a Virginia-based not-for-profit corporation, was established with a mission to own and operate a 72-unit apartment community for elderly individuals. This community, known as Christian Village of Central Virginia, was established in accordance with Section 202 of the Housing Act of 1959 and operates under a regulatory agreement with the Federal Housing Administration (FHA) division of the Department of Housing and Urban Development (HUD). The organization leases apartment units to elderly individuals on a yearly basis, providing them with a secure living space in the normal course of business.
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Impact
July, 2024
Christian Village Of Central Virginia Inc's impact is felt through its provision of affordable housing options for elderly individuals in Mechanicsville, Virginia. By owning and operating a 72-unit apartment community under the guidelines of the Housing Act of 1959 and the supervision of the Federal Housing Administration (FHA), this organization ensures that senior citizens have a safe and comfortable place to call home. Through their leasing operations, they contribute to the well-being and quality of life of the elderly population in the area, offering a sense of community and support to those in need of housing assistance.
This information is meant to be a general summary of Christian Village Of Central Virginia 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: $534
- Program Service Revenue: $248,416
- Gross Receipts: $491,946
Assets and Liabilities:
- Total Assets: $731,739
- Total Liabilities: $3,484,802
- Net Assets: -$2,753,063
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$248,416
Organization Details
Founding Year
1993
Phone
(336) 765-0424Principal Officer
Sonny Hughes
Main Address
PO BOX 25168, WINSTONSALEM, NC, 27114
NTEE Category
Code: L210 - Housing
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