Overview
What is Richmond Affordable Housing Inc?
Richmond Affordable Housing Inc is a dedicated nonprofit organization situated in Richmond, Virginia. Their primary purpose is to ensure affordable housing for individuals with limited financial resources. To achieve this, they offer comprehensive support services to low-income homeowners. Their mission is deeply rooted in the belief that everyone deserves a safe and affordable living space, and they strive to make this a reality in Richmond, VA. Richmond Affordable Housing Inc plays a crucial role in the community by providing essential housing assistance to those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating). This rating is primarily derived from the organization's Accountability & Finance metrics, reflecting its commitment to operational transparency and sound financial practices.
Richmond Affordable Housing Inc demonstrates strong governance, with a fully independent board and comprehensive policies in place, such as conflict of interest and whistleblower protections. Notably, the organization received top scores for its program expense ratio and financial statements oversight, indicating effective use of resources to fulfill its mission.
However, a significant area of concern is the organization's liabilities to assets ratio, which scored 0 out of 15 points, suggesting potential issues with financial stability. While the charity shows strengths in governance and transparency, the high level of liabilities may raise questions about its fiscal health and long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Richmond Affordable Housing Inc legitimate?
Richmond Affordable Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Richmond Affordable Housing 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $479,641
For more financial information, click here
What is the mission statement of Richmond Affordable Housing Inc?
Richmond Affordable Housing Inc's mission is centered around providing affordable housing solutions. The organization accomplishes this by offering support services to low-income homeowners. Their primary goal is to ensure that individuals who are financially disadvantaged have access to affordable housing. Richmond Affordable Housing Inc specializes in offering housing support services within its community, though the specific location is not mentioned in the provided information.
Who is the CEO of Richmond Affordable Housing Inc?
Julie Hovermale is the President & Ceo of Richmond Affordable Housing Inc. The CEO's salary of Richmond Affordable Housing Inc is $0 and their total compensation is $355,049.
What is the revenue of Richmond Affordable Housing Inc?
Richmond Affordable Housing Inc's revenue in 2022 was $784,750.
Who are the executives of Richmond Affordable Housing Inc and what are their salaries?
There 5 volunteers at Richmond Affordable Housing Inc.
Here are 11 key members and their salaries (Richmond Affordable Housing Inc's CEO's salary is $0 and their total compensation is $355,049):
- Compensation: $0
- Related: $311,491
- Other: $43,558
- Compensation: $0
- Related: $187,481
- Other: $18,188
- Compensation: $0
- Related: $126,916
- Other: $20,547
- Compensation: $0
- Related: $105,937
- Other: $20,868
- Compensation: $0
- Related: $101,447
- Other: $21,984
- Compensation: $0
- Related: $107,313
- Other: $7,198
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Richmond Affordable Housing Inc?
Richmond Affordable Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Richmond Affordable Housing Inc
Richmond Affordable Housing Inc, a dedicated nonprofit organization, is committed to providing affordable housing solutions. Their mission is centered around offering support services to low-income homeowners, aiming to assist those in need the most. The organization specializes in this field, operating in Richmond, Virginia. Richmond Affordable Housing Inc's primary goal is to ensure that affordable housing is accessible to as many individuals as possible, thereby contributing to a more equitable community.
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Impact
July, 2024
Richmond Affordable Housing Inc's impact is clear: it provides affordable housing to low-income homeowners in Richmond, VA. By offering support services along with housing programs, this organization plays a crucial role in addressing the housing needs of those who need it the most. Through its dedication to this mission, Richmond Affordable Housing Inc positively impacts the community by providing stable and secure housing options for individuals and families facing financial challenges.
This information is meant to be a general summary of Richmond Affordable Housing 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: $18,468
- Program Service Revenue: $622,558
- Gross Receipts: $4,410,301
Assets and Liabilities:
- Total Assets: $17,217,718
- Total Liabilities: $11,942,859
- Net Assets: $5,274,859
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPMENT FEES
Revenue
$363,400
RENTAL INCOME
Revenue
$254,693
OTHER EARNED FEES
Revenue
$4,465
Organization Details
Founding Year
1997
Phone
(804) 644-0546Principal Officer
Julie Hovermale
Main Address
PO BOX 12117, RICHMOND, VA, 23241
NTEE Category
Code: L21 - Housing
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