Overview
What is Affordable Residences In Chesterfield Ii?
Affordable Residences in Chesterfield II is a nonprofit organization, specifically focused on offering affordable housing solutions for individuals and families residing in Richmond, Virginia. Their mission revolves around providing multi-family housing programs, ensuring that the cost remains within reach for those who may be economically disadvantaged. By offering this essential service, they contribute to the betterment of the community and their residents' quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star Rating
Affordable Residences In Chesterfield II has achieved a commendable Four-Star rating from Charity Navigator, signifying a strong performance in accountability and finance. The organization scored 94%, reflecting its commitment to transparency and effective financial management. Notably, it boasts 100% independent board members and has no material diversion of assets, indicating a robust governance structure.
The organization excels in its fiscal responsibility, with a program expense ratio of 84.69%, which shows that a significant portion of its expenses directly supports its programs. Additionally, it has clear policies in place for conflict of interest, whistleblowing, and document retention, further reinforcing its integrity and accountability to stakeholders.
While the rating highlights many organizational strengths, ongoing vigilance in maintaining high standards of governance and financial discipline will be essential for sustaining its positive reputation and impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Residences In Chesterfield Ii legitimate?
Affordable Residences In Chesterfield Ii is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Residences In Chesterfield Ii 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: $150,550
For more financial information, click here
What is the mission statement of Affordable Residences In Chesterfield Ii?
Affordable Residences In Chesterfield II, as an organization, is dedicated to providing affordable housing solutions for individuals and families. Through its multi-family housing programs, it strives to make housing accessible for those with limited financial resources. The primary objective of this organization is to contribute to a more equitable housing landscape, ensuring that everyone has a roof over their heads, regardless of their income level. By offering affordable housing, it aims to alleviate some of the financial burdens faced by many families and individuals, enabling them to focus on other aspects of their lives.
Who is the CEO of Affordable Residences In Chesterfield Ii?
Julie Hovermale is the Director of Affordable Residences In Chesterfield Ii. The CEO's salary of Affordable Residences In Chesterfield Ii is $0 and their total compensation is $355,049.
What is the revenue of Affordable Residences In Chesterfield Ii?
Affordable Residences In Chesterfield Ii's revenue in 2022 was $3,122,770.
Who are the executives of Affordable Residences In Chesterfield Ii and what are their salaries?
Here are 9 key members and their salaries (Affordable Residences In Chesterfield Ii's CEO's salary is $0 and their total compensation is $355,049):
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- Other: $0
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- Other: $0
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- Related: $311,491
- Other: $43,558
- Compensation: $0
- Related: $187,481
- Other: $18,188
Where can I find the form 990 for Affordable Residences In Chesterfield Ii?
Affordable Residences In Chesterfield Ii's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Affordable Residences In Chesterfield Ii
Affordable Residences In Chesterfield II is dedicated to providing affordable housing solutions for individuals and families in need. Through its multi-family affordable housing programs, this nonprofit organization aims to make housing more accessible and affordable for a diverse range of people, contributing to a more equitable society. By offering affordable housing options, Low Income Housing, as Affordable Residences In Chesterfield II is also known, enables families to focus on other essential aspects of their lives, such as education, employment, and personal growth. This organization plays a crucial role in ensuring that everyone has a decent place to live, regardless of their financial situation.
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Impact
July, 2024
Affordable Residences In Chesterfield II's impact is significant as it provides affordable housing to individuals and families in the city of Richmond, VA. By offering multi-family affordable housing programs, this organization plays a crucial role in addressing the housing needs of low-income residents in the area. Its impact can be seen in the improved quality of life and stability it provides to those who would otherwise struggle to afford suitable housing.
This information is meant to be a general summary of Affordable Residences In Chesterfield Ii. 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.
- Program Service Revenue: $3,122,770
- Gross Receipts: $3,122,770
Assets and Liabilities:
- Total Assets: $17,927,113
- Total Liabilities: $8,566,408
- Net Assets: $9,360,705
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$3,122,770
Organization Details
Founding Year
1997
Phone
(804) 644-0546Principal Officer
Julie Hovermale
Main Address
PO Box 12117, RICHMOND, VA, 23241
NTEE Category
Code: P74 - Human services
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