Overview
What is Tn Development Corporation?
Tn Development Corporation is a nonprofit organization situated in Columbia, South Carolina. Their primary focus is to contribute to the development of affordable housing for low-income individuals within the community. By engaging in this mission, they aim to expand the residential base of Columbia, ensuring that a diverse population can call the city home. The corporation's activities encompass the planning and construction of affordable housing units, ultimately promoting a more inclusive and vibrant community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Star Rating). This rating indicates a moderate level of accountability and financial health for Tn Development Corporation. The organization excels in several key areas, particularly in its commitment to governance, as evidenced by having 100% independent board members and a robust audit and oversight committee.
Despite these strengths, the organization has a relatively high liabilities to assets ratio at 63.50%, which suggests potential financial vulnerability. However, the program expense ratio is impressive at 94.56%, indicating that a significant portion of its expenditures is directed towards its programs rather than administrative costs.
Overall, Tn Development Corporation demonstrates commendable transparency and accountability practices, with strong oversight mechanisms in place. While there are some areas for improvement related to financial ratios, the organization appears to be dedicated to its mission and responsible in its financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Tn Development Corporation legitimate?
Tn Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tn Development Corporation 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 Tn Development Corporation?
The Tn Development Corporation is committed to aiding in the development of affordable housing for low-income individuals. Their primary goal is to expand the residential base within the community. They are actively involved in constructing and facilitating the establishment of such housing units, aiming to provide a more comprehensive residential landscape.
Who is the CEO of Tn Development Corporation?
Kevin Werner is the Board Member of Tn Development Corporation.
What is the revenue of Tn Development Corporation?
Tn Development Corporation's revenue in 2022 was $1,500,191.
Who are the executives of Tn Development Corporation and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Tn Development Corporation?
Tn Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tn Development Corporation
Tn Development Corporation, as a nonprofit organization, is dedicated to assisting in the development of low-income housing in various communities. Their mission is centered around expanding the residential base of the community by focusing on the construction and provision of affordable housing options. By doing so, they contribute to the betterment of the community as a whole. The corporation's efforts aim to make housing more accessible for individuals with limited financial resources, thereby enhancing the living standards and fostering a sense of stability within the community.
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Impact
July, 2024
Tn Development Corporation's impact lies in its efforts to assist in the development of low-income housing in Columbia, South Carolina. By increasing the residential base of the community, the corporation is working to address the housing needs of individuals and families who may not have access to affordable housing options. Through its mission to support the development of low-income housing, Tn Development Corporation is making a tangible difference in improving the living conditions and opportunities for low-income residents in Columbia.
This information is meant to be a general summary of Tn Development Corporation. 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: $462
- Program Service Revenue: $1,019,393
- Gross Receipts: $1,500,191
Assets and Liabilities:
- Total Assets: $5,456,220
- Total Liabilities: $4,684,828
- Net Assets: $771,392
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$864,669
EMPLOYEE LEASING REVEN
Revenue
$121,604
MANAGEMENT FEE INCOME
Revenue
$33,120
Organization Details
Founding Year
1992
Phone
(803) 734-3322Principal Officer
Kevin Werner
Main Address
3905 ENSOR AVENUE, COLUMBIA, SC, 29203
NTEE Category
Code: L210 - Housing
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