Overview
What is Housing Preservation Corporation?
Housing Preservation Corporation is a nonprofit organization based in Greensboro, North Carolina. Their primary focus is providing affordable housing solutions for low and very low-income individuals and families. They achieve this through their ownership of a C Corporation and general partner interests in various partnerships that manage apartment complexes. These partnerships offer housing opportunities, contributing positively to the community. The organization's mission is deeply rooted in ensuring that eligible individuals and families have access to affordable housing, thereby enhancing their living standards.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating.
The Housing Preservation Corporation has received a rating of 73%, indicating a moderate level of performance in accountability and finance. The organization showcases strengths in governance, with a fully independent board and no material diversion of assets. Additionally, it maintains a solid program expense ratio, ensuring that a significant portion of its resources are directed toward its mission.
However, there are notable limitations in its transparency and policy implementation. The organization scored poorly in critical areas such as having a conflict of interest policy, a whistleblower policy, and document retention practices. Furthermore, the absence of its tax form on the nonprofit's website raises concerns about accessibility to important financial information, which could affect stakeholders' trust.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Preservation Corporation legitimate?
Housing Preservation Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Preservation 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Housing Preservation Corporation?
The Housing Preservation Corporation is committed to providing affordable housing solutions for qualifying low and very low-income individuals and families. They accomplish this by holding general partner interests in several partnerships that manage apartment complexes, offering housing to these income groups and the elderly. Additionally, the corporation owns the stock of a C corporation, which in turn holds a general partner interest in an affordable housing partnership. In essence, the corporation's mission revolves around making housing accessible and affordable for those in need.
Who is the CEO of Housing Preservation Corporation?
G Harris Brown is the President of Housing Preservation Corporation.
What is the revenue of Housing Preservation Corporation?
Housing Preservation Corporation's revenue in 2022 was $46,973.
Who are the executives of Housing Preservation Corporation and what are their salaries?
There 5 volunteers at Housing Preservation Corporation.
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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Where can I find the form 990 for Housing Preservation Corporation?
Housing Preservation Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Housing Preservation Corporation
Housing Preservation Corporation, as a nonprofit organization, is committed to providing affordable housing solutions for qualifying low-income individuals and families. With a strong focus on making housing accessible, the corporation holds general partner interests in several partnerships that operate apartment complexes, catering primarily to families with limited income and elderly individuals. Beyond these partnerships, Housing Preservation Corporation also owns the stock of a C corporation, which in turn holds a general partner interest in an affordable housing partnership. This multifaceted approach allows the organization to contribute significantly to the housing needs of those who require assistance, ensuring that they can reside in suitable living environments.
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Impact
August, 2024
Housing Preservation Corporation's impact lies in providing affordable housing to qualifying low and very low-income individuals and families. The organization holds general partner interests in several partnerships that operate apartment complexes renting to low and very low-income families and elderly individuals. Additionally, they wholly own the stock of a C corporation which holds a general partner interest in an affordable housing partnership. Through their mission to provide affordable housing, Housing Preservation Corporation plays a vital role in addressing the housing needs of underserved communities.
This information is meant to be a general summary of Housing Preservation 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: $122
- Program Service Revenue: $3,045
- Gross Receipts: $46,973
Assets and Liabilities:
- Total Assets: $488,961
- Total Liabilities: $0
- Net Assets: $488,961
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$3,045
Organization Details
Founding Year
1991
Phone
(336) 544-2300Principal Officer
G Harris Brown
Main Address
PO BOX 26405, GREENSBORO, NC, 274046405
NTEE Category
Code: L20Z - Housing
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