Overview
What is Sea Island Community Development Fund Inc?
Sea Island Community Development Fund Inc is a nonprofit organization situated in Johns Island, South Carolina. Their primary focus is on managing an 88-unit subsidized housing project, regulated by the Housing and Urban Development Agency. This project is specifically designed for senior adults and individuals with special needs, catering to those with low income levels. The organization's mission is to provide suitable housing for this demographic, operating an 88-unit HUD apartment complex, which was authorized under Section 202 of the National Housing Act. The Sea Island Community Development Fund Inc also facilitates programs tailored to the needs of their residents, enhancing their living conditions and overall wellbeing.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement, Score: 72%, Two-Star out of Four Star rating
The Sea Island Community Development Fund Inc has received a two-star rating from Charity Navigator, indicating that while there are areas of strength, significant improvement is needed in certain aspects of its operations. The organization boasts a perfect score of 100% in accountability and finance, showing strong governance practices and transparency, including an independent board and proper oversight of financial statements.
Strengths of the organization include a high program expense ratio of 80.09%, which suggests that a substantial portion of their budget is allocated towards their programs and services rather than administrative costs. Additionally, the organization has demonstrated no material diversion of assets, reinforcing its financial integrity. However, the liabilities to assets ratio of 63.82% raises concerns about its financial stability and ability to manage debts relative to its assets, highlighting a need for improved financial health.
Overall, while the Sea Island Community Development Fund Inc shows commendable governance and program allocation, its financial liabilities signal a need for increased focus on sustainability and long-term planning. Stakeholders and potential donors should consider these factors carefully when engaging with the nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Sea Island Community Development Fund Inc legitimate?
Sea Island Community Development Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sea Island Community Development Fund 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 Sea Island Community Development Fund Inc?
Sea Island Community Development Fund Inc's mission is centered around providing housing solutions. Specifically, the organization focuses on accommodating senior adults and individuals with disabilities who have limited income. To fulfill this mission, they have developed an 88-unit housing project, authorized under Section 202 of the National Housing Act, overseen by the Housing and Urban Development agency. This project is designed to offer affordable housing options for the specified demographic. Beyond the housing project, the organization also offers programs and resources tailored to the needs of its residents.
Who is the CEO of Sea Island Community Development Fund Inc?
Leon Burton is the Executive Di of Sea Island Community Development Fund Inc.
What is the revenue of Sea Island Community Development Fund Inc?
Sea Island Community Development Fund Inc's revenue in 2020 was $822,076.
Who are the executives of Sea Island Community Development Fund Inc and what are their salaries?
Where can I find the form 990 for Sea Island Community Development Fund Inc?
Sea Island Community Development Fund Inc's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Sea Island Community Development Fund Inc
Sea Island Community Development Fund Inc, as a nonprofit organization, is dedicated to providing housing solutions for senior adults and individuals with disabilities who have low income levels. Their mission is centered around operating an 88-unit housing project, which is regulated by the Housing and Urban Development (HUD) agency. This project was authorized under Section 202 of the National Housing Act, specifically designed for the elderly of the National Affordable Housing Act. The organization's primary goal is to facilitate programs that cater to the needs of these vulnerable groups, ensuring they have access to safe and affordable living spaces.
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Impact
July, 2024
Sea Island Community Development Fund Inc's impact is evident in its provision of housing for senior adults and persons with disabilities through an 88-unit subsidized apartment complex. This initiative, authorized by the Housing and Urban Development Agency, caters to individuals with low incomes, facilitating programs specially designed for the elderly and those with special needs. By offering affordable housing options and support services, the organization contributes significantly to enhancing the quality of life for vulnerable populations in Johns Island, SC.
This information is meant to be a general summary of Sea Island Community Development Fund 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 2020.
- Program Service Revenue: $822,076
- Gross Receipts: $822,076
Assets and Liabilities:
- Total Assets: $1,901,916
- Total Liabilities: $1,213,921
- Net Assets: $687,995
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$785,730
OTHER REVENUE
Revenue
$36,346
Organization Details
Founding Year
1974
Phone
(843) 559-3359Principal Officer
Leon Burton
Main Address
PO BOX 689, JOHNS ISLAND, SC, 29457
NTEE Category
Code: L21 - Housing
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