Overview
What is Friendship Community Improvement Corp?
Friendship Community Improvement Corp is a dedicated nonprofit organization based in Aiken, South Carolina. With a single employee, their primary mission is to provide housing assistance to low-income families and individuals residing in South Carolina. The corporation is committed to promoting affordable housing, both in single and multi-family units, as their initial priority. Additionally, Friendship Community Improvement Corp also supports education and economic development initiatives within the Aiken community. Their efforts aim to uplift the living conditions and prospects of low and moderate-income families and individuals in the area.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74%, Two-Star out of Four Star rating.
Friendship Community Improvement Corp has received a rating of 74%, which classifies it as a Two-Star nonprofit. This rating reflects a solid performance in areas of accountability and finance, particularly highlighted by its perfect score on having a fully independent board and no material diversion of assets. The organization also maintains a conflict of interest policy, contributing positively to its governance practices.
Despite these strengths, the nonprofit has notable gaps in its policies, specifically the absence of a whistleblower and document retention and destruction policies, which were not rated favorably. Additionally, while the program expense ratio is commendable at over 78%, indicating a significant portion of funds directed towards programs, the liabilities to assets ratio suggests a potential concern regarding financial stability, rated at 58.26%.
Overall, while Friendship Community Improvement Corp demonstrates strong governance with independent oversight and effective program spending, there are areas for improvement in policy development that could enhance its accountability and operational transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Friendship Community Improvement Corp legitimate?
Friendship Community Improvement Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friendship Community Improvement Corp 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: $6,446
For more financial information, click here
What is the mission statement of Friendship Community Improvement Corp?
The Friendship Community Improvement Corp is dedicated to providing housing, education, and economic development opportunities for low and moderate income families and individuals. The corporation's primary focus is on affordable housing, with single and multifamily accommodations being its initial priority. The organization aims to assist low income families and individuals residing in South Carolina, contributing to their overall well-being and quality of life.
Who is the CEO of Friendship Community Improvement Corp?
W Frank Wright is the Board Of Director of Friendship Community Improvement Corp.
What is the revenue of Friendship Community Improvement Corp?
Friendship Community Improvement Corp's revenue in 2022 was $177,545.
Who are the executives of Friendship Community Improvement Corp and what are their salaries?
The average compensation at Friendship Community Improvement Corp during 2022 was $6,446. There is 1 employee at Friendship Community Improvement Corp.
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Where can I find the form 990 for Friendship Community Improvement Corp?
Friendship Community Improvement Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Friendship Community Improvement Corp
Friendship Community Improvement Corp, a nonprofit organization, is dedicated to making a positive impact on the lives of low and moderate-income families and individuals. Their primary focus lies in the provision of housing, with a strong emphasis on both single and multi-family affordable housing. This commitment is a significant priority for the corporation, aiming to address the housing needs of those who may struggle with financial constraints. By providing affordable housing options, Friendship Community Improvement Corp seeks to contribute to the well-being of its community members and support their overall development.
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Impact
October, 2024
Friendship Community Improvement Corp has a significant impact on low and moderate-income families and individuals in Aiken, SC, through its dedicated efforts in housing, education, and economic development. The organization prioritizes the creation of affordable housing options, focusing on both single and multifamily units.
By offering housing assistance, it helps alleviate the challenges faced by low-income individuals and families who need stable living environments. This stability is essential for fostering community well-being, reducing crime rates, and supporting educational opportunities. Additionally, the commitment to economic development empowers residents, enhancing their ability to improve their financial situations and overall quality of life. Through these initiatives, the Friendship Community Improvement Corp plays a critical role in strengthening the fabric of the Aiken community.
This information is meant to be a general summary of Friendship Community Improvement Corp. 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: $41
- Program Service Revenue: $167,786
- Gross Receipts: $177,545
Assets and Liabilities:
- Total Assets: $947,610
- Total Liabilities: $548,130
- Net Assets: $399,480
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$167,510
PROPERTY MANAGEMENT
Revenue
$276
Organization Details
Founding Year
2005
Phone
(803) 642-4949Principal Officer
W Frank Wright
Main Address
P O BOX 587, AIKEN, SC, 29802
NTEE Category
Code: I20 - Crime
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