Overview
What is Affordable Residences In Chesterfield?
Affordable Residences in Chesterfield is a compassionate nonprofit organization based in Richmond, Virginia. Their primary focus is to make housing accessible and affordable for individuals and families through their multifamily programs. The organization's mission is deeply rooted in the belief that everyone deserves a decent place to live. By providing such housing, they strive to contribute positively to their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
Affordable Residences In Chesterfield has received a solid rating of 79%, indicating a good level of accountability and financial health within its operations. The organization excels in various areas, such as having 100% independent board members and no material diversion of assets, which speaks to its commitment to governance and transparency.
The financial metrics are also promising, with a program expense ratio of 81.03%, meaning a significant portion of the budget is directed towards its programs rather than administrative costs. Additionally, the charity has robust policies in place, including conflict of interest and whistleblower policies, which further enhance its credibility.
While the organizational strengths are evident, the three-star rating suggests there may still be areas for improvement. Potential donors and stakeholders may want to consider these factors when engaging with the organization or assessing its impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Residences In Chesterfield legitimate?
Affordable Residences In Chesterfield is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Residences In Chesterfield 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: $43,469
For more financial information, click here
What is the mission statement of Affordable Residences In Chesterfield?
Affordable Residences In Chesterfield aims to make housing affordable for all individuals and families. They achieve this goal by offering multifamily affordable housing programs. The organization's mission is centered around providing affordable living solutions, striving to ensure that housing is accessible for everyone. While the specific location of Affordable Residences in Chesterfield is mentioned in the provided data, it is not relevant to the mission statement and therefore, will not be included in the summary.
Who is the CEO of Affordable Residences In Chesterfield?
Julie Hoveramle is the Director of Affordable Residences In Chesterfield. The CEO's salary of Affordable Residences In Chesterfield is $0 and their total compensation is $355,049.
What is the revenue of Affordable Residences In Chesterfield?
Affordable Residences In Chesterfield's revenue in 2022 was $561,954.
Who are the executives of Affordable Residences In Chesterfield and what are their salaries?
Here are 9 key members and their salaries (Affordable Residences In Chesterfield'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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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- 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?
Affordable Residences In Chesterfield's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Affordable Residences In Chesterfield
Affordable Residences In Chesterfield, as a nonprofit organization, is dedicated to providing affordable housing opportunities for individuals and families. Their mission is centered around making housing accessible to all, ensuring that everyone has a place to call home without being burdened by excessive costs. Through their multifamily affordable housing programs, they strive to bridge the gap between housing affordability and availability, contributing positively to the community.
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Impact
July, 2024
Affordable Residences in Chesterfield has a significant impact on the community by providing affordable housing to individuals and families in Richmond, VA. Their multifamily affordable housing programs help address the pressing need for accessible and safe housing options. By making housing more affordable, the organization contributes to promoting stability, improving quality of life, and reducing financial strain on low-income households. Affordable Residences in Chesterfield plays a crucial role in ensuring that individuals and families have a place to call home, ultimately fostering a more inclusive and thriving community.
This information is meant to be a general summary of Affordable Residences In Chesterfield. 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: $561,954
- Gross Receipts: $561,954
Assets and Liabilities:
- Total Assets: $3,025,815
- Total Liabilities: $171,048
- Net Assets: $2,854,767
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Real Estate
Revenue
$555,101
Laundry & Vending
Revenue
$5,467
Misc Tenant Charges
Revenue
$1,386
Organization Details
Founding Year
1997
Phone
(804) 644-0546Principal Officer
Julie Hoveramle
Main Address
PO Box 12117, Richmond, VA, 23241
NTEE Category
Code: L21 - Housing
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