Overview
What is Homeownership Center Inc?
Homeownership Center Inc, based in Elkins, West Virginia, is a dedicated nonprofit organization that offers a comprehensive range of services to local families. Their primary focus lies in homeownership, providing counseling and guidance to first-time homebuyers, which has assisted around 252 families thus far. In addition to this, they offer loan services, extending low-interest loans to individuals for home acquisition, construction, or repairs. Essentially, Homeownership Center Inc is committed to improving homeownership opportunities and financial security for families within its community.
Official website here: www.hocwv.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star rating.
Homeownership Center Inc has received a commendable rating of 88%, reflecting strong performance in accountability and finance. This score is significant as it indicates the nonprofit's commitment to transparency and efficient use of resources. The organization boasts a fully independent board, with all members meeting the criteria for independence, suggesting a strong governance structure.
Strengths noted in the evaluation include a clean bill of asset management, with no material diversion of assets reported. The charity also has established policies for conflict of interest, whistleblower protections, and document retention, which further underlines its commitment to accountability. Additionally, the organization maintains a low liabilities-to-assets ratio, indicating financial stability.
However, the program expense ratio is somewhat lower at 62.92%, which may suggest that a smaller portion of its budget is directly allocated to programs compared to other organizations. This could be an area for improvement to enhance direct impact. Overall, Homeownership Center Inc demonstrates a solid financial profile and governance, while still having room to potentially increase programmatic spending.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Homeownership Center Inc?
100% of 7 reviewers on Facebook recommend Homeownership Center Inc. Here is a summary of their reviews: The feedback indicates a strong appreciation for the support and resources provided by the organization. Users express gratitude for the assistance they received, particularly in navigating the complexities of securing a home loan.
Many reviewers highlight the valuable knowledge they gained from their experience, suggesting that the nonprofit plays a crucial role in educating individuals about homeownership. This positive sentiment emphasizes the organization's commitment to empowering clients and offering guidance throughout the process.
Overall, people feel that Homeownership Center Inc. delivers on its promises, making it a highly recommended resource for anyone looking to better understand homeownership options and secure financial support.
This AI summary has been generated from reviews found on Facebook.
Is Homeownership Center Inc legitimate?
Homeownership Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homeownership Center 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: $33,427
Professional Fundraising Fees: $0
Other Salaries and Wages: $177,138
For more financial information, click here
Official website here: www.hocwv.org
What is the mission statement of Homeownership Center Inc?
Homeownership Center Inc's mission revolves around providing comprehensive homeownership services to families in the area. They strive to offer a wide range of services, including housing counseling and financial advice to first-time homebuyers, approximately 252 families. Additionally, they offer loan services and provide low-interest loans to homebuyers for the acquisition, construction, or repairs of their homes.
Official website here: www.hocwv.org
Who is the CEO of Homeownership Center Inc?
Steve Nida is the Member of Homeownership Center Inc.
Official website here: www.hocwv.org
What is the revenue of Homeownership Center Inc?
Homeownership Center Inc's revenue in 2022 was $463,061.
Official website here: www.hocwv.org
Who are the executives of Homeownership Center Inc and what are their salaries?
The average compensation at Homeownership Center Inc during 2022 was $35,094. There are 6 employees and 7 volunteers at Homeownership Center Inc.
Here are 8 key members and their salaries:
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- Compensation: $33,427
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Official website here: www.hocwv.org
Where can I find the form 990 for Homeownership Center Inc?
Homeownership Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hocwv.org
Learn more at the official website: www.hocwv.org
Mission Statement of Homeownership Center Inc
Homeownership Center Inc is dedicated to delivering a comprehensive range of homeownership services to local families. Their mission, in simple terms, is to provide all necessary assistance related to homeownership. This encompasses offering housing and financial counseling to first-time homebuyers, approximately 252 families, as well as providing loan services and low-interest loans for home acquisition, construction, and repairs. The organization's goal is to make homeownership more accessible and manageable for these families.
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Impact
July, 2024
Homeownership Center Inc plays a crucial role in empowering area families through comprehensive homeownership services. By providing housing and financial counseling to first-time homebuyers, approximately 252 families have been guided towards making informed decisions regarding home purchases. Additionally, the organization offers low-interest loans to support homebuyers in acquiring, constructing, or repairing their homes. Through their mission of providing all aspects of homeownership services, Homeownership Center Inc positively impacts the community in Elkins, WV, fulfilling a vital need for accessible and supportive housing resources.
This information is meant to be a general summary of Homeownership Center 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: $24,909
- Program Service Revenue: $100,319
- Gross Receipts: $463,061
Assets and Liabilities:
- Total Assets: $2,098,106
- Total Liabilities: $107,321
- Net Assets: $1,990,785
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ORIGINATION AND INST.
Revenue
$100,319
Organization Details
Founding Year
1998
Phone
(304) 636-9115Principal Officer
Steve Nida
Main Address
PO BOX 1579, ELKINS, WV, 26241
Website
www.hocwv.orgNTEE Category
Code: P80 - Human services
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