Overview
What is Southeastern Housing Preservation Inc?
Southeastern Housing Preservation Inc, based in Charlotte, North Carolina, is a nonprofit organization that participates in the USDA Rural Development 515 Program. Their primary mission is to develop, maintain, operate, and provide assistance to rental housing projects, catering to individuals with low to moderate income. Under Section 515(B) of the National Housing Act of 1949, they are dedicated to ensuring affordable housing options, with Springwood Apartments in Clinton, NC, serving as one such project consisting of 69 units. Their work in this area provides residency opportunities for up to 828 individuals annually.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
Southeastern Housing Preservation Inc has achieved an 82% overall score from Charity Navigator, reflecting a strong performance in accountability and finance. This rating is significant as it highlights the organization's commitment to transparency and responsible financial management, which is essential for gaining public trust and support.
The organization boasts a high percentage of independent board members, which contributes positively to its governance structure. With a program expense ratio of 96.52%, it demonstrates an effective allocation of resources directly towards its programs, indicating a focus on fulfilling its mission rather than administrative costs.
However, while the score is commendable, it is based solely on accountability and finance aspects. Potential donors may want to consider additional factors such as program effectiveness and impact in the community when evaluating the overall performance of Southeastern Housing Preservation Inc.
This AI summary has been generated from information found on Charity Navigator.
Is Southeastern Housing Preservation Inc legitimate?
Southeastern Housing Preservation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southeastern Housing Preservation 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: $0
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What is the mission statement of Southeastern Housing Preservation Inc?
Southeastern Housing Preservation Inc's mission is centered around the development, ownership, maintenance, operation, and provision of assistance for rental housing projects. These projects are specifically designed for individuals with low to moderate income, operating under Section 515(B) of the National Housing Act of 1949. The organization's mission aims to contribute to the availability of affordable housing, thereby catering to a section of the population that may otherwise struggle with housing. They operate within the framework of the USDA Rural Development 515 Program, with a current project providing 69 units of housing in Clinton, NC, with a 12-month occupancy of 828 units.
Who is the CEO of Southeastern Housing Preservation Inc?
Ira M Slomka is the President of Southeastern Housing Preservation Inc.
What is the revenue of Southeastern Housing Preservation Inc?
Southeastern Housing Preservation Inc's revenue in 2022 was $2,498,333.
Who are the executives of Southeastern Housing Preservation Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Southeastern Housing Preservation Inc?
Southeastern Housing Preservation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Southeastern Housing Preservation Inc
Southeastern Housing Preservation Inc, as a nonprofit organization, is dedicated to developing, maintaining, operating, and providing assistance to rental housing projects for individuals with low to moderate income. This mission is in line with Section 515(B) of the National Housing Act of 1949, which the organization operates under. Specifically, Southeastern Housing Preservation Inc focuses on managing housing projects, ensuring that these living spaces are accessible and affordable for the intended population.
In fulfilling its mission, Southeastern Housing Preservation Inc plays a crucial role in providing housing solutions for individuals who might otherwise struggle to afford suitable accommodations. The organization's commitment to this sector is evident in its management of projects under the USDA Rural Development 515 Program. For instance, the Springwood Apartments in Clinton, NC, is one such project, offering 69 units of housing for a year with a total of 828 available occupancy periods. This project serves as a testament to Southeastern Housing Preservation Inc's dedication to making housing more accessible and affordable for those in need.
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Impact
July, 2024
Southeastern Housing Preservation Inc's impact lies in its efforts to develop, own, maintain, operate, and provide assistance to rental housing projects for persons of low to moderate income. Operating under Section 515(b) of the National Housing Act of 1949, the organization plays a crucial role in addressing the housing needs of individuals and families facing financial constraints. Through its projects, such as the Springwood Apartments in Clinton, NC, Southeastern Housing Preservation Inc provides accessible and affordable housing options, contributing to the stability and well-being of the community. By focusing on this mission, the organization helps improve the quality of life for those in need of affordable housing solutions.
This information is meant to be a general summary of Southeastern Housing Preservation 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 2022.
- Investment Income: $1,943
- Program Service Revenue: $476,894
- Gross Receipts: $2,498,333
Assets and Liabilities:
- Total Assets: $15,749,895
- Total Liabilities: $2,664,233
- Net Assets: $13,085,662
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INCOME HOUSING REN
Revenue
$381,344
LATE CHARGES, LAUNDRY,
Revenue
$55,070
RENTAL INCOME FROM PAS
Revenue
$40,480
Organization Details
Founding Year
1994
Phone
(704) 335-9112Principal Officer
Ira M Slomka
Main Address
1515 MOCKINGBIRD LANE 1010, CHARLOTTE, NC, 28209
NTEE Category
Code: L200 - Housing
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