Overview
What is Horizon Development Properties Inc?
Horizon Development Properties Inc, also known as Blue Horizon Management Company, is a Charlotte, North Carolina-based organization dedicated to providing affordable housing solutions for families who fall below the area median income. With a mission to make a difference, they offer a total of 4,531 units for rent, ensuring that all qualified applicants have access to suitable living arrangements. The company aims to uphold the belief that housing is a fundamental need and strives to create inclusive communities for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating 79% - Three-Star out of Four Star rating
Horizon Development Properties Inc has received a Three-Star rating from Charity Navigator, reflecting a solid Accountability & Finance score of 79%. This rating indicates that the organization demonstrates a commendable level of financial health and transparency, which is crucial for potential donors and stakeholders.
One of the notable strengths of Horizon Development Properties Inc is its governance structure, boasting 100% independent board members. This independence, combined with effective audit and oversight mechanisms, contributes to a robust accountability framework. The organization also has strong policies in place for conflict of interest, whistleblower protections, and document retention, further enhancing its credibility.
Despite its strengths, the rating does not provide insights into program effectiveness or impact, which are important aspects for evaluating a nonprofit's overall performance. While the high program expense ratio of 95.77% suggests that most funds are directed toward programs, the lack of additional rating metrics may leave potential supporters wanting more comprehensive information about the organization's outcomes.
This AI summary has been generated from information found on Charity Navigator.
Is Horizon Development Properties Inc legitimate?
Horizon Development Properties Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Horizon Development Properties 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: $3,735,939
For more financial information, click here
What is the mission statement of Horizon Development Properties Inc?
Horizon Development Properties Inc is dedicated to providing affordable housing solutions for families who fall below the area median income. With a mission to make housing accessible to all qualified individuals, they offer a total of 4,531 units for rent. This real estate company prioritizes affordability above all else, ensuring that a wide range of families can call their properties home. Their commitment to affordable housing is reflected in their focus on helping families in need secure a place to live and build a stable foundation for their future.
Who is the CEO of Horizon Development Properties Inc?
Heather R Franklin Cpa is the Chair Commissioner of Horizon Development Properties Inc. The CEO's salary of Horizon Development Properties Inc is $0 and their total compensation is $401,992.
What is the revenue of Horizon Development Properties Inc?
Horizon Development Properties Inc's revenue in 2022 was $49,320,137.
Who are the executives of Horizon Development Properties Inc and what are their salaries?
There 7 volunteers at Horizon Development Properties Inc.
Here are 24 key members and their salaries (Horizon Development Properties Inc's CEO's salary is $0 and their total compensation is $401,992):
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $336,517
- Other: $65,475
- Compensation: $0
- Related: $180,739
- Other: $47,086
- Compensation: $0
- Related: $170,094
- Other: $38,776
- Compensation: $0
- Related: $157,013
- Other: $37,256
- Compensation: $0
- Related: $168,082
- Other: $23,814
- Compensation: $0
- Related: $136,396
- Other: $25,242
- Compensation: $0
- Related: $113,065
- Other: $19,852
- Compensation: $0
- Related: $94,928
- Other: $27,019
- Compensation: $0
- Related: $80,320
- Other: $18,250
- Compensation: $0
- Related: $80,029
- Other: $9,083
- Compensation: $0
- Related: $72,981
- Other: $15,597
- Compensation: $0
- Related: $138,269
- Other: $24,643
- Compensation: $0
- Related: $125,400
- Other: $23,111
- Compensation: $0
- Related: $104,377
- Other: $21,131
- Compensation: $0
- Related: $103,428
- Other: $21,123
- Compensation: $0
- Related: $108,043
- Other: $12,567
Where can I find the form 990 for Horizon Development Properties Inc?
Horizon Development Properties Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Horizon Development Properties Inc
Horizon Development Properties Inc, a dedicated organization, is committed to providing affordable housing opportunities for all qualified families. With a vision to make a difference, this esteemed institution strives to ensure that those in need have access to a place they can call home.
Horizon Development Properties Inc's mission is twofold: it aims to offer affordable housing solutions to families whose income falls below the area median. Currently, the organization manages an impressive inventory of 4,531 units, available for rent to eligible families. This substantial number signifies a significant contribution towards addressing the housing needs of underprivileged communities.
The organization's unwavering commitment to affordability sets it apart. By providing housing for families making less than 80% of the area median income, Horizon Development Properties Inc plays a crucial role in ensuring that a roof over one's head remains an attainable goal for many. This mission not only helps families achieve greater financial stability but also fosters a sense of community and belonging. By offering affordable housing options, Horizon Development Properties Inc continues to make a positive impact on the lives of countless families.
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Impact
October, 2024
Horizon Development Properties Inc plays a crucial role in addressing the housing crisis by providing affordable housing options to families in need. With a total of 4,531 rental units available for families earning less than 80% of the area median income in Charlotte, NC, the organization significantly enhances access to safe and stable living conditions. This effort not only supports the economic well-being of families but also contributes to the overall community by fostering diversity and inclusion. By prioritizing affordable housing, Horizon Development helps to mitigate the impacts of housing insecurity, allowing families to thrive and create a foundation for future success.
This information is meant to be a general summary of Horizon Development Properties 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: -$5,694,302
- Program Service Revenue: $38,416,020
- Gross Receipts: $55,811,948
Assets and Liabilities:
- Total Assets: $528,761,139
- Total Liabilities: $472,432,048
- Net Assets: $56,329,091
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL REVENUE
Revenue
$37,425,092
OTHER TENANT REVENUE
Revenue
$970,996
CONSTRUCTION MGMT FEES
Revenue
$19,932
Organization Details
Founding Year
2001
Phone
(704) 336-5233Principal Officer
Heather R Franklin Cpa
Main Address
400 EAST BLVD, CHARLOTTE, NC, 28203
NTEE Category
Code: L21 - Housing
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