Overview
What is Cleveland County Community Development Corp Inc?
Cleveland County Community Development Corp Inc is a nonprofit organization situated in Shelby, North Carolina, specifically at 823 West Warren Street. The primary mission of this corporation is to develop single-family and multi-family housing that is affordable for individuals and families with low to moderate incomes. In addition to this, they offer support services that are crucial for these income brackets. These services include financial education, credit counseling, mortgage default counseling, and loss mitigation, aiming to help eligible individuals secure home ownership. The organization currently employs a team of five dedicated individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
Cleveland County Community Development Corp Inc has earned an 82% rating from Charity Navigator, reflecting strong performance in accountability and finance. This score is based entirely on a single beacon score that highlights the nonprofit's commitment to transparency and responsible financial practices. An independently governed board and no material diversion of assets further demonstrate the organization's integrity.
The organization shows impressive financial health, with a program expense ratio of 91.69%, indicating that a significant portion of its budget is directed toward its programs rather than administrative costs. Additionally, the nonprofit has a favorable liabilities to assets ratio of 11.98%, suggesting sound management of its resources. The presence of independent board members also strengthens its governance structure.
While the organization exhibits strong financial accountability, it is important to note that the rating does not encompass other potential aspects of effectiveness or impact, which are not evaluated in the current score. Overall, Cleveland County Community Development Corp Inc appears to be a well-managed organization with a focus on serving its community effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Cleveland County Community Development Corp Inc legitimate?
Cleveland County Community Development Corp Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cleveland County Community Development Corp 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $163,551
For more financial information, click here
What is the mission statement of Cleveland County Community Development Corp Inc?
The Cleveland County Community Development Corp Inc is dedicated to creating affordable housing options for individuals and families with moderate incomes. Their mission involves developing both single-family and multi-family residences that cater to this income bracket. Furthermore, they strive to assist these low and moderate income individuals in their pursuit of home ownership. To facilitate this, they provide essential support services such as credit and budget counseling, financial education, mortgage default counseling, and loss mitigation.
What is the revenue of Cleveland County Community Development Corp Inc?
Cleveland County Community Development Corp Inc's revenue in 2023 was $339,882.
Who are the executives of Cleveland County Community Development Corp Inc and what are their salaries?
The average compensation at Cleveland County Community Development Corp Inc during 2023 was $32,710. There are 5 employees and 7 volunteers at Cleveland County Community Development Corp Inc.
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Where can I find the form 990 for Cleveland County Community Development Corp Inc?
Cleveland County Community Development Corp Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Cleveland County Community Development Corp Inc
Cleveland County Community Development Corp Inc is committed to a mission that involves the development of both single and multi-family affordable housing units. This nonprofit organization aims to cater to individuals and families with low to moderate income levels. Beyond just providing housing, Cleveland County Community Development Corp Inc also focuses on qualifying these income-restricted individuals for home ownership. To support this mission, the corporation offers a variety of services, including credit and budget counseling, financial education, mortgage default counseling, and loss mitigation. These support services are designed to equip low and moderate income individuals with the necessary tools to manage their finances effectively, ultimately making home ownership more attainable.
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Impact
July, 2024
Cleveland County Community Development Corp Inc's impact revolves around developing single and multi-family affordable housing for low to moderate-income individuals and families in Shelby, NC. Their mission is to qualify low and moderate-income individuals for homeownership by providing support services such as credit/budget counseling, financial education, mortgage default counseling, and loss mitigation. Their focus on housing helps address the critical need for affordable housing in the community, ultimately improving the quality of life for residents and promoting economic stability.
This information is meant to be a general summary of Cleveland County Community Development Corp 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: $2,082
- Program Service Revenue: $24,012
- Gross Receipts: $339,882
Assets and Liabilities:
- Total Assets: $1,035,508
- Total Liabilities: $124,064
- Net Assets: $911,444
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Other
Revenue
$12,012
Fees for Services
Revenue
$12,000
Admin fees
Revenue
$0
Organization Details
Founding Year
1992
Principal Officer
Karla Haynes
NTEE Category
Code: L20Z - Housing
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