Overview
What is Lynn Housing Authority Development Group Inc?
Lynn Housing Authority Development Group Inc is a charitable organization based in Lynn, Massachusetts, located at 10 Church Street. Their primary mission is to provide affordable housing solutions to the general public, achieving this goal through various means such as purchasing, selling, renting, and leasing dwellings. The organization's primary program, referred to as Rental Assistance, aims to help individuals and families regain stability in permanent housing after experiencing a housing crisis or homelessness. The program comprises two components: Homelessness Prevention and Rapid Re-housing. The Homelessness Prevention component assists individuals and families in maintaining their current housing, while the Rapid Re-housing component quickly provides housing to those who have become homeless. The organization's mission is to contribute to the community by offering affordable housing options, ultimately improving the living conditions of its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%, Four-Star out of Four Star Rating.
The Lynn Housing Authority Development Group Inc has received a strong rating of 90% from Charity Navigator, indicating a high level of accountability and finance management. This score is primarily derived from its exceptional accountability metrics, demonstrating the organization's commitment to transparency and ethical standards.
Notable strengths include a fully independent board, with all eight members meeting independence criteria, and a robust structure for financial oversight, including a dedicated audit committee. The organization reported no material diversion of assets, which further underscores its fiscal integrity. Its program expense ratio of 98.86% illustrates a strong focus on utilizing funds for mission-related activities.
While the organization appears to have excellent financial practices, further information on its programmatic impact and community engagement could provide a more comprehensive view of its overall effectiveness. Nonetheless, the high rating reflects a solid foundation in governance and financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Lynn Housing Authority Development Group Inc legitimate?
Lynn Housing Authority Development Group Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lynn Housing Authority Development Group 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: $0
For more financial information, click here
What is the mission statement of Lynn Housing Authority Development Group Inc?
Lynn Housing Authority Development Group Inc is a charitable organization with a mission to provide assistance to the general public. They achieve this by offering affordable housing solutions through the purchase, sale, renting, and leasing of dwellings. One of their programs, titled Rental Assistance, aims to help individuals and families regain stability in permanent housing following a housing crisis or homelessness. This program has two components: Homelessness Prevention and Rapid Re-housing.
Who is the CEO of Lynn Housing Authority Development Group Inc?
Laura Walsh is the Chairperson of Lynn Housing Authority Development Group Inc.
What is the revenue of Lynn Housing Authority Development Group Inc?
Lynn Housing Authority Development Group Inc's revenue in 2022 was $1,056,756.
Who are the executives of Lynn Housing Authority Development Group Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $1,200
- Other: $0
- Compensation: $0
- Related: $960
- Other: $0
- Compensation: $0
- Related: $960
- Other: $0
- Compensation: $0
- Related: $960
- Other: $0
- Compensation: $0
- Related: $960
- Other: $0
Where can I find the form 990 for Lynn Housing Authority Development Group Inc?
Lynn Housing Authority Development Group Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lynn Housing Authority Development Group Inc
Lynn Housing Authority Development Group Inc is committed to providing charitable assistance to the general public. Their mission is primarily focused on addressing the need for affordable housing. They achieve this by engaging in various activities such as purchasing, selling, renting, and leasing dwellings. By doing so, they aim to contribute to the well-being of individuals and families who may be facing housing challenges.
In addition to this, Lynn Housing Authority Development Group Inc has a specific program called Rental Assistance. This program is designed to help individuals and families stabilize their housing situation after experiencing a housing crisis or homelessness. It consists of two components: Homelessness Prevention and Rapid Re-housing. The Homelessness Prevention component aims to prevent individuals and families from becoming homeless by providing necessary financial assistance. On the other hand, the Rapid Re-housing component assists those who have already become homeless by helping them quickly secure permanent housing. This comprehensive approach by Lynn Housing Authority Development Group Inc reflects their dedication to addressing housing insecurity and promoting stability within the community.
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Impact
July, 2024
Lynn Housing Authority Development Group Inc's impact lies in providing crucial rental assistance to individuals and families facing housing crises or homelessness in Lynn, MA. Through their programs focused on homelessness prevention and rapid re-housing, this organization helps vulnerable populations quickly regain stability in permanent housing. By purchasing, selling, renting, and leasing dwellings, they work towards their mission of offering affordable housing and charitable assistance to the community. This essential support contributes significantly to addressing housing insecurity and improving the quality of life for those in need.
This information is meant to be a general summary of Lynn Housing Authority Development Group 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: $1,086
- Program Service Revenue: $1,150
- Gross Receipts: $1,056,756
Assets and Liabilities:
- Total Assets: $450,499
- Total Liabilities: $81,822
- Net Assets: $368,677
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEE
Revenue
$1,150
Organization Details
Founding Year
2002
Phone
(781) 581-8600Principal Officer
Laura Walsh
Main Address
10 CHURCH STREET, LYNN, MA, 01902
NTEE Category
Code: L022 - Housing
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