Overview
What is Lumber River Housing Development Incorporated?
Lumber River Housing Development Incorporated, located at 1000 Parkview Drive, Lumberton, North Carolina 28358, is a nonprofit organization dedicated to providing housing solutions for qualified low to moderate income families. The organization operates under programs that are supervised and subsidized by the U.S. Department of Housing and Urban Development (HUD). Their primary mission is to ensure affordable housing opportunities for families in need, thereby contributing to the community's socio-economic fabric. The organization is known by the name "Parkview Terrace Apartments" in their day-to-day activities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (62%)
Lumber River Housing Development Incorporated has received a two-star rating from Charity Navigator, indicating a need for improvement in certain organizational practices. The organization excels in areas such as accountability and finance, with a perfect score of 100% in that category, reflecting strong oversight and a fully independent board. However, the overall score highlights significant areas that require attention.
Despite having a majority of independent board members and robust financial oversight, Lumber River has missed critical governance benchmarks. Notably, the absence of key policies, including conflict of interest and whistleblower policies, raises concerns about transparency and best practices. Additionally, the organization's liabilities exceed its assets, which could pose financial challenges moving forward.
While the program expense ratio is relatively strong at 66.19%, signifying a commitment to programmatic efforts, the lack of transparency regarding financial documents on their website is a missed opportunity for building trust with stakeholders. Addressing these governance and transparency issues will be essential for the organization to improve its rating and enhance its overall effectiveness in serving the community.
This AI summary has been generated from information found on Charity Navigator.
Is Lumber River Housing Development Incorporated legitimate?
Lumber River Housing Development Incorporated is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lumber River Housing Development Incorporated 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: $182,441
For more financial information, click here
What is the mission statement of Lumber River Housing Development Incorporated?
Lumber River Housing Development Incorporated is dedicated to providing housing solutions for families with low to moderate income. This organization operates under programs that are supervised and subsidized by HUD, ensuring that eligible families have access to adequate housing. Their mission is centered around facilitating housing opportunities, thereby contributing to the well-being and stability of these families. Their primary objective is to bridge the housing gap for those in need, ensuring that they have a secure and comfortable living environment.
Who is the CEO of Lumber River Housing Development Incorporated?
Rev Jerry L Stephens Sr is the President of Lumber River Housing Development Incorporated.
What is the revenue of Lumber River Housing Development Incorporated?
Lumber River Housing Development Incorporated's revenue in 2022 was $719,259.
Who are the executives of Lumber River Housing Development Incorporated and what are their salaries?
There 8 volunteers at Lumber River Housing Development Incorporated.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Lumber River Housing Development Incorporated?
Lumber River Housing Development Incorporated's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lumber River Housing Development Incorporated
Lumber River Housing Development Incorporated, as a nonprofit organization, is dedicated to providing housing solutions for qualified low to moderate income families. This mission is carried out under programs that are supervised and subsidized by the HUD. The organization's primary goal is to offer a home to families who fall within these income brackets, ensuring they have access to secure and comfortable living spaces. By collaborating with HUD, Lumber River Housing Development Incorporated is able to provide these families with the necessary support and subsidies, making homeownership or renting more affordable and achievable. The organization's mission is crucial in addressing housing disparities and helping families build stable and sustainable living situations.
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Impact
July, 2024
Lumber River Housing Development Incorporated has a significant impact on the community by providing housing to qualified low to moderate-income families under programs supervised and subsidized by HUD. Through its mission of offering affordable housing options, this organization helps improve the quality of life for individuals and families in need in Lumberton, NC. By addressing the crucial need for housing assistance, Lumber River Housing Development Incorporated plays a vital role in creating stability and security for those who may otherwise struggle to find suitable accommodations.
This information is meant to be a general summary of Lumber River Housing Development Incorporated. 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: $16
- Program Service Revenue: $193,763
- Gross Receipts: $719,338
Assets and Liabilities:
- Total Assets: $965,652
- Total Liabilities: $1,306,014
- Net Assets: -$340,362
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$187,618
TENANT RENTAL CHARGES
Revenue
$4,526
LAUNDRY VENDING
Revenue
$1,619
Organization Details
Founding Year
1968
Phone
(910) 814-7338Principal Officer
Rev Jerry L Stephens Sr
Main Address
1000 PARKVIEW DRIVE, LUMBERTON, NC, 28358
NTEE Category
Code: L200 - Housing
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