Overview
What is Lowcountry Housing And Economic Development Foundation Inc?
The Lowcountry Housing and Economic Development Foundation Inc is a nonprofit organization situated in Coastal South Carolina. Its primary mission is to develop, finance, and manage affordable housing for individuals and families with low to moderate incomes. Beyond housing, the organization extends its services to the local community, offering assistance and support to those in need. This includes providing various resources and aid to low-income individuals and families in the same region.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 53%, One-Star out of Four Stars
The Lowcountry Housing and Economic Development Foundation Inc has received a low rating of 53%, which translates to a One-Star evaluation. This score primarily reflects concerns in its accountability and finance practices, indicating significant shortcomings in governance and transparency. The lack of independent board members and failure to have key policies, such as conflict of interest and whistleblower protections, are notable issues highlighted in the evaluation.
Despite these governance concerns, the organization demonstrates a strong commitment to program expenses, with a program expense ratio of 92.54%, indicating that a substantial portion of its resources is directed towards its mission-driven activities. Additionally, the charity has a favorable liabilities to assets ratio of 44.03%, which suggests a manageable level of debt relative to its assets. However, the absence of essential financial practices could hinder its long-term effectiveness.
Overall, while the foundation appears to be effective in its programmatic spending, the lack of accountability measures raises questions about its governance and operational transparency. Potential donors and stakeholders may want to consider these factors when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Lowcountry Housing And Economic Development Foundation Inc legitimate?
Lowcountry Housing And Economic Development Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lowcountry Housing And Economic Development Foundation 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
For more financial information, click here
What is the mission statement of Lowcountry Housing And Economic Development Foundation Inc?
The Lowcountry Housing and Economic Development Foundation's mission is centered around two primary objectives. Firstly, the organization strives to develop, finance, and manage affordable housing for individuals and families with low to moderate income levels, residing in Coastal South Carolina. Secondly, it is committed to providing community services for these income groups, ensuring they have the necessary support in their area. The foundation's programs include offering assistance to low-income families and providing housing solutions for them.
Who is the CEO of Lowcountry Housing And Economic Development Foundation Inc?
Montez C Martin is the Director of Lowcountry Housing And Economic Development Foundation Inc.
What is the revenue of Lowcountry Housing And Economic Development Foundation Inc?
Lowcountry Housing And Economic Development Foundation Inc's revenue in 2022 was $127,421.
Who are the executives of Lowcountry Housing And Economic Development Foundation Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Lowcountry Housing And Economic Development Foundation Inc?
Lowcountry Housing And Economic Development Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lowcountry Housing And Economic Development Foundation Inc
Lowcountry Housing and Economic Development Foundation, in its mission, aims to cater to the housing needs and community services of low and moderate income residents in Coastal South Carolina. This nonprofit organization takes on the responsibility of developing, financing, and managing affordable housing units, providing a viable living solution for those who may otherwise struggle with high housing costs. Beyond housing, the foundation also extends its services to the larger community, offering assistance to low income individuals and families in the same area. Through its programs, Lowcountry Housing and Economic Development Foundation works towards enhancing the living conditions and improving the overall well-being of its community members.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Lowcountry Housing And Economic Development Foundation Inc significantly impacts Coastal South Carolina by developing, financing, and managing affordable housing tailored to low and moderate-income residents. Through its initiatives, the organization enhances access to safe and affordable living options, fostering stability for families and individuals in financial need.
In addition to housing, the foundation offers vital community services aimed at supporting low-income individuals and families, addressing broader socioeconomic challenges. By providing assistance tailored to the needs of these families, the foundation not only helps to alleviate immediate housing concerns but also promotes long-term economic mobility and community development. This dual focus on housing and comprehensive support contributes to a stronger, more resilient community throughout the Charleston area and beyond.
This information is meant to be a general summary of Lowcountry Housing And Economic Development Foundation 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.
- Program Service Revenue: $127,421
- Gross Receipts: $127,421
Assets and Liabilities:
- Total Assets: $925,846
- Total Liabilities: $452,094
- Net Assets: $473,752
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$127,421
Organization Details
Founding Year
1997
Phone
(843) 628-4123Principal Officer
Montez C Martin
Main Address
PO BOX 80326, CHARLESTON, SC, 29403
NTEE Category
Code: L25 - Housing
If you are a representative of Lowcountry Housing And Economic Development Foundation Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.