Overview
What is South River Development Corporation?
South River Development Corporation is a nonprofit organization based in Waynesboro, Virginia. With a focus on special needs and low-income housing projects, they dedicate their efforts to the development and management of residential properties that cater to these populations. With a team of 32 employees, they work tirelessly to ensure the well-being and comfort of the residents in these projects. Their mission is deeply rooted in providing affordable and suitable housing solutions, thereby enhancing the quality of life for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
South River Development Corporation has received a commendable Four-Star rating from Charity Navigator, reflecting strong accountability and financial health. With an overall score of 94%, the organization demonstrates a high level of transparency and responsible management of resources, which is crucial for donor confidence. The charity's commitment to maintaining an independent board is evidenced by having 100% of its members independent, alongside a well-structured audit and oversight committee.
The financial metrics also highlight the organization's effectiveness, with a program expense ratio of 87.26%, indicating that a significant majority of its expenditures are directed towards its programs rather than administrative costs. Additionally, the organization's low liabilities to assets ratio of 39.88% suggests a strong financial footing, allowing it to sustain its programs and impact over time.
While the report showcases numerous strengths, it's essential for potential donors and stakeholders to continue monitoring the organization's performance and activities to ensure ongoing effectiveness and alignment with their mission. Overall, South River Development Corporation appears to be a responsible and impactful choice for philanthropic support.
This AI summary has been generated from information found on Charity Navigator.
Is South River Development Corporation legitimate?
South River Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. South River 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: $136,665
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What is the mission statement of South River Development Corporation?
The South River Development Corporation is dedicated to the development and management of housing projects catering to individuals with special needs and those from low-income backgrounds. Their mission is to provide suitable living spaces for these groups, aiming to enhance their quality of life. Through their work, they strive to create inclusive and supportive housing environments, contributing to the overall well-being and dignity of the residents. By focusing on special needs and low-income housing projects, the corporation plays a significant role in promoting social equity and inclusivity.
Who is the CEO of South River Development Corporation?
Kim Byrd is the President of South River Development Corporation.
What is the revenue of South River Development Corporation?
South River Development Corporation's revenue in 2022 was $1,403,151.
Who are the executives of South River Development Corporation and what are their salaries?
The average compensation at South River Development Corporation during 2022 was $4,271. There are 32 employees at South River Development Corporation.
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Where can I find the form 990 for South River Development Corporation?
South River Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of South River Development Corporation
South River Development Corporation is dedicated to the development and management of housing projects that cater to individuals with special needs and families falling under the low-income bracket. The organization's mission is to create living spaces that cater to these specific groups, ensuring they have access to safe and comfortable homes. By focusing on special needs and low-income housing projects, South River Development Corporation aims to contribute to the well-being and stability of these communities. Through its development and management efforts, the corporation seeks to enhance the living conditions and improve the quality of life for the residents it serves.
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Impact
July, 2024
South River Development Corporation's impact can be seen in the successful development and management of special needs and low-income housing projects in Waynesboro, VA. They have made significant strides in providing accessible and affordable housing options for individuals in need, contributing to the improvement of living conditions and overall community well-being. Through their dedicated efforts, South River Development Corporation plays a crucial role in addressing the housing needs of vulnerable populations and promoting social equity in the region.
This information is meant to be a general summary of South River 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 2022.
- Investment Income: $1,582
- Program Service Revenue: $1,401,569
- Gross Receipts: $1,403,151
Assets and Liabilities:
- Total Assets: $8,422,474
- Total Liabilities: $3,359,049
- Net Assets: $5,063,425
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$971,183
OTHER PROGRAM INCOME
Revenue
$430,386
Organization Details
Founding Year
1997
Phone
(540) 946-9230Principal Officer
Kim Byrd
Main Address
PO BOX 1138, WAYNESBORO, VA, 22980
NTEE Category
Code: P80 - Human services
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