Overview
What is Siler City Housing Corporation?
Siler City Housing Corporation is a nonprofit organization located in Moncure, North Carolina. Its primary focus is providing affordable housing for those who are elderly, handicapped, and disabled, as stated in Section 515 of the National Housing Act. The organization operates a 32-unit apartment complex, dedicated to serving this specific community. Their mission is to offer a safe and comfortable living environment for these individuals, ensuring they have access to essential housing.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1-Star out of Four Stars (58%)
The Siler City Housing Corporation has received a low rating of 58%, categorized as a One-Star charity. This score is primarily based on its Accountability & Finance metrics, which highlight some strengths but also significant governance weaknesses. The organization has a strong program expense ratio of 97.46%, indicating that most of its funds are directed towards its programs, which is a positive aspect.
However, the organization struggles with several critical governance issues. It lacks essential policies such as a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, all of which are crucial for transparency and integrity. Additionally, the organization did not provide its tax form on its website, further affecting its overall accountability score.
Despite having an independent board and no material diversion of assets, the missing governance policies have contributed to a notably low rating. Improving these areas could enhance the organization's overall financial health and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Siler City Housing Corporation legitimate?
Siler City Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Siler City Housing 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.
Heare are some key statistics you may want to consider:
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What is the mission statement of Siler City Housing Corporation?
The Siler City Housing Corporation is dedicated to providing suitable housing for elderly, handicapped, and disabled individuals. This mission is executed through the operation of a 32-unit apartment complex under Section 515 of the National Housing Act. The organization's primary goal is to ensure affordable and accessible living spaces for these vulnerable groups, thereby contributing to their overall well-being and quality of life.
Who is the CEO of Siler City Housing Corporation?
Rev Barry R Gray is the President/Chairman of Siler City Housing Corporation.
What is the revenue of Siler City Housing Corporation?
Siler City Housing Corporation's revenue in 2022 was $214,501.
Who are the executives of Siler City Housing Corporation and what are their salaries?
There 11 volunteers at Siler City Housing Corporation.
Here are 11 key members and their salaries:
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Where can I find the form 990 for Siler City Housing Corporation?
Siler City Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Siler City Housing Corporation
Siler City Housing Corporation, as a nonprofit organization, is committed to providing low-income housing for elderly, handicapped, and disabled residents. This mission is carried out through the operation of a 32-unit apartment complex, which adheres to Section 515 of the National Housing Act. The corporation's primary goal is to provide a suitable living environment for individuals who may face challenges in securing adequate housing due to their age, disability, or handicap. By offering such housing, Siler City Housing Corporation aims to contribute to their residents' overall well-being and quality of life.
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Impact
October, 2024
Siler City Housing Corporation plays a crucial role in addressing housing needs for vulnerable populations in Moncure, NC. By operating a 32-unit apartment complex specifically designed for low-income elderly, handicapped, and disabled residents, it ensures that individuals who may face significant challenges in securing safe and affordable housing have a place to call home. This initiative not only improves their quality of life but also fosters a sense of community and belonging among residents. By adhering to Section 515 of the National Housing Act, Siler City Housing Corporation contributes to the overall well-being of individuals who may be marginalized due to their circumstances, ultimately promoting stability and inclusivity within the community.
This information is meant to be a general summary of Siler City Housing 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: $671
- Program Service Revenue: $104,297
- Gross Receipts: $214,507
Assets and Liabilities:
- Total Assets: $1,104,045
- Total Liabilities: $1,088,293
- Net Assets: $15,752
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$102,904
TENANT CHARGES
Revenue
$1,393
Organization Details
Founding Year
1978
Phone
(919) 663-2526Principal Officer
Rev Barry R Gray
Main Address
160 GLYNNIS CREEK DRIVE, MONCURE, NC, 27559
NTEE Category
Code: L99Z - Housing
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