Overview
What is Hogar Hispano Inc?
Hogar Hispano Inc is a nonprofit organization based in Washington, D.C., specifically at 1126 16TH STREET NW 600. Their primary mission is to serve and benefit the underserved Hispanic/Latino community, both locally and nationally. They achieve this through real estate investments and related debt, providing community and economic development opportunities to service-based organizations. These opportunities encompass educational programs, workforce training, and capacity building. Hogar Hispano Inc also develops programs for foreclosure prevention and the resale of foreclosed properties to individuals and non-profits. Furthermore, they offer technical and development support to help create new financial service investment models for low-income communities and families. Their team comprises 7 dedicated individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
Hogar Hispano Inc demonstrates a solid performance with an overall score of 88%, reflecting its strong accountability and financial practices. The rating is based on a thorough evaluation of its governance, which includes having a fully independent board and robust financial oversight measures. The organization has established policies like conflict of interest and whistleblower protections, which contribute positively to its accountability framework.
The charity shows a commendable program expense ratio of 64.98%, indicating that a significant portion of its expenditures is directed toward its mission-related programs. The low liabilities to assets ratio of 20.16% suggests sound financial management and a healthy balance sheet, further highlighting its stability and sustainability in operations.
However, while Hogar Hispano Inc has strong governance metrics, the program expense ratio could be improved to maximize impact. Additionally, the compensation for its executive director, while reflective of experience and responsibilities, has been noted as relatively high, which may raise questions about the allocation of resources. Overall, the organization maintains a positive rating, but there are areas for potential enhancement to further its effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Hogar Hispano Inc legitimate?
Hogar Hispano Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hogar Hispano 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: $166,380
Professional Fundraising Fees: $0
Other Salaries and Wages: $240,527
For more financial information, click here
What is the mission statement of Hogar Hispano Inc?
Hogar Hispano Inc's mission is centered around serving and benefiting underserved and Hispanic/Latino communities, both locally and nationally. They achieve this through participation in real estate, investments, and related debt activities. The corporation aims to provide community and economic development opportunities to service-oriented organizations, focusing on educational, workforce training, and capacity building initiatives. This commitment is meant to empower the Hispanic/Latino community, contributing to their overall growth and well-being.
What is the revenue of Hogar Hispano Inc?
Hogar Hispano Inc's revenue in 2023 was $409,168.
Who are the executives of Hogar Hispano Inc and what are their salaries?
The average compensation at Hogar Hispano Inc during 2023 was $67,818. There are 6 employees and 7 volunteers at Hogar Hispano Inc.
Here are 8 key members and their salaries:
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- Compensation: $137,890
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- Other: $28,490
Where can I find the form 990 for Hogar Hispano Inc?
Hogar Hispano Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Hogar Hispano Inc
Hogar Hispano Inc, a nonprofit organization, seeks to serve and benefit the underserved Hispanic/Latino community both nationally and locally. They aim to achieve this goal through participation in real estate, investments, and related debt activities. The corporation's mission is to provide community and economic development opportunities to service-based organizations. These organizations can range from educational institutions to workforce training centers and capacity-building initiatives. By doing so, Hogar Hispano Inc strives to contribute to the betterment of the Hispanic/Latino community, offering them a chance to grow and thrive.
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Impact
July, 2024
Hogar Hispano Inc's impact is significant in the realm of community and economic development opportunities for underserved and Hispanic/Latino communities. The organization has developed programs for foreclosure prevention and the resale of foreclosed properties, providing diverse services and in-kind support to develop business models for Latino service non-profits. Through executive management support, Hogar Hispano Inc offers technical and development assistance for creating new models to deliver financial service investments to low-income communities and families. With several active projects on a national platform, the organization plays a crucial role in supporting service-based organizations, offering educational, workforce training, and capacity-building opportunities.
This information is meant to be a general summary of Hogar Hispano 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 2023.
- Investment Income: $301
- Program Service Revenue: $263,399
- Gross Receipts: $1,480,209
Assets and Liabilities:
- Total Assets: $5,529,247
- Total Liabilities: $1,114,740
- Net Assets: $4,414,507
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE INCOME
Revenue
$144,843
RENTAL INCOME
Revenue
$73,084
MORTGAGE INTEREST INCOME
Revenue
$45,472
Organization Details
Founding Year
2004
Principal Officer
Lautaro Diaz
NTEE Category
Code: P840 - Human services
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