Overview
What is F B C Corporation?
FB C Corporation, based in Matthews, North Carolina, is a nonprofit organization that focuses on providing housing solutions for families with moderate to low income. Situated in Fayetteville, NC, the corporation's primary mission is to offer affordable living options to those in need. By doing so, the organization contributes to the local community, ensuring that families have a stable living environment. The corporation operates within the guidelines and regulations of North Carolina, providing essential housing services to those who require assistance.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
F B C Corporation has received a Three-Star rating from Charity Navigator, with an overall score of 79%. This rating reflects a strong emphasis on Accountability & Finance, which constitutes 100% of their score. The organization has demonstrated a commitment to transparency and good governance, as evidenced by its perfect score for independent board members and a robust program expense ratio of 96.71%.
The nonprofit's independent board is entirely composed of independent members, which enhances its governance. Additionally, it has strong financial oversight mechanisms, including a dedicated audit and oversight committee. The presence of essential policies, such as conflict of interest and whistleblower policies, further illustrates the organization’s commitment to ethical practices and accountability.
However, while the organization performs well in financial transparency and governance, the score is solely based on the Accountability & Finance beacon. This means there may be limited information regarding other operational aspects of the nonprofit, potentially leaving gaps in understanding its overall impact and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is F B C Corporation legitimate?
F B C Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. F B C Corporation 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.
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What is the mission statement of F B C Corporation?
The F B C Corporation's mission is centered around providing housing solutions for families with modest incomes. This organization dedicates its efforts to catering to this specific demographic, ensuring they have access to suitable living accommodations. By doing so, the corporation contributes to the betterment of these families' living conditions and overall quality of life. The corporation's primary activity revolves around this mission, making housing a top priority for those who may not have the financial means to secure it otherwise.
Who is the CEO of F B C Corporation?
Mr Joseph Washington is the President of F B C Corporation.
What is the revenue of F B C Corporation?
F B C Corporation's revenue in 2022 was $1,438,360.
Who are the executives of F B C Corporation and what are their salaries?
There 20 volunteers at F B C Corporation.
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Where can I find the form 990 for F B C Corporation?
F B C Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of F B C Corporation
F B C Corporation, as a nonprofit entity, is dedicated to providing housing solutions for families with modest and low incomes. By serving as a housing provider, this organization plays a significant role in ensuring that families in need have a secure place to call home. The corporation's mission is centered around the belief that every individual deserves a safe and comfortable living space, regardless of their financial situation. By focusing on low-income families, F B C Corporation is committed to making a positive impact on the community and contributing to a more equitable society.
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Impact
July, 2024
F B C Corporation's impact lies in its provision of housing for low and moderate-income families in Fayetteville, NC. Through its activities, the corporation directly addresses the pressing need for affordable housing in the community. By offering a stable and secure living environment for these families, F B C Corporation contributes to their overall well-being and quality of life. This impact extends beyond just shelter, as having a safe and affordable home can positively influence other aspects of individuals' lives, such as their health, education, and financial stability. The corporation plays a vital role in supporting the local community and promoting social equity through its housing initiatives.
This information is meant to be a general summary of F B C Corporation. 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: $24,235
- Program Service Revenue: $343,286
- Gross Receipts: $1,506,540
Assets and Liabilities:
- Total Assets: $8,179,810
- Total Liabilities: $9,070,269
- Net Assets: -$890,459
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL PAYMENTS
Revenue
$320,896
TENANT CHARGES
Revenue
$16,674
LAUNDRY & VENDING
Revenue
$5,716
Organization Details
Founding Year
1970
Phone
(704) 882-5415Principal Officer
Mr Joseph Washington
Main Address
300 EAST JOHN STREET 138, MATTHEWS, NC, 28105
NTEE Category
Code: L21 - Housing
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