Overview
What is Low Income Housing Opportunities Inc?
Low Income Housing Opportunities Inc, located in High Point, North Carolina, is a dedicated nonprofit organization. Their primary mission is to enhance homeownership prospects and ensure that low-income families have access to decent, safe, and affordable housing. They achieve this by developing and supporting low-income housing projects. In addition, the organization recognizes the achievements of their tenants and former tenants, celebrating their successes. With their address at 500 E Russell Ave, High Point, NC 27260, they continue to strive towards their goals, contributing positively to their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Zero-Star out of Four Star rating
Low Income Housing Opportunities Inc has received a zero-star rating from Charity Navigator, indicating significant concerns regarding its financial management and accountability. The organization's overall score sits at 47%, which highlights a lack of sufficient program expenses relative to its operational costs. Specifically, the program expense ratio is at 46.15%, suggesting that less than half of its expenditures directly support its mission.
Despite the financial shortcomings, the organization showcases strengths in governance and policies. Key strengths include a fully independent board, with 10 out of 10 points awarded for having the majority of board members independent, as well as a solid conflict of interest policy and whistleblower policy, both scoring full points. The organization is transparent in documenting board meeting minutes, reflecting a degree of accountability in its operations.
On the downside, the liabilities to assets ratio is concerning at 18.76%, which reflects potential financial instability. Additionally, high salaries for key personnel, particularly for the Secretary and Treasurer, may raise questions regarding the allocation of funds. The combination of low program expenses and high administrative costs could impact the organization's effectiveness in serving low-income housing needs.
This AI summary has been generated from information found on Charity Navigator.
Is Low Income Housing Opportunities Inc legitimate?
Low Income Housing Opportunities Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Low Income Housing Opportunities 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 Low Income Housing Opportunities Inc?
Low Income Housing Opportunities Inc is committed to expanding homeownership chances for low-income families while ensuring they reside in decent, safe, and affordable housing. To achieve this goal, the organization engages in creating and supporting low-income housing projects. Additionally, they aim to recognize the achievements of their tenants and former tenants by providing necessary support.
Who is the CEO of Low Income Housing Opportunities Inc?
Angela Jimenez is the Secretary of Low Income Housing Opportunities Inc.
What is the revenue of Low Income Housing Opportunities Inc?
Low Income Housing Opportunities Inc's revenue in 2022 was $6,169.
Who are the executives of Low Income Housing Opportunities Inc and what are their salaries?
Here are 9 key members and their salaries:
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- Related: $203,031
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- Related: $145,732
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Where can I find the form 990 for Low Income Housing Opportunities Inc?
Low Income Housing Opportunities Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Low Income Housing Opportunities Inc
Low Income Housing Opportunities Inc, as its name suggests, is committed to expanding homeownership prospects and ensuring that low-income families have access to decent, safe, and affordable housing. This nonprofit organization achieves this mission by actively creating and supporting low-income housing initiatives. Their primary goal is to make the dream of owning a home a reality for families who might otherwise struggle with this financial burden. Beyond homeownership, Low Income Housing Opportunities Inc also strives to provide a living environment that is secure and within an affordable price range. Their efforts aim to improve the overall quality of life for these families, empowering them to focus on other essential aspects of their lives.
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Impact
August, 2024
Low Income Housing Opportunities Inc has made a significant impact by expanding homeownership opportunities and providing decent, safe, and affordable housing to low-income families. Through their work in creating and supporting low-income housing, they have helped improve the living conditions and stability of many individuals and families in the community. Their mission to address the housing needs of low-income families has had a direct and positive impact on the lives of those they serve.
This information is meant to be a general summary of Low Income Housing Opportunities 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.
- Gross Receipts: $6,169
Assets and Liabilities:
- Total Assets: $125,484
- Total Liabilities: $23,543
- Net Assets: $101,941
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Organization Details
Founding Year
2003
Phone
(336) 887-2661Principal Officer
Angela Jimenez
Main Address
500 E Russell Ave, High Point, NC, 27260
NTEE Category
Code: L80 - Housing
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