Overview
What is Volunteer Housing Development Corporation Inc?
Volunteer Housing Development Corporation Inc, located in Morristown, Tennessee, is a dedicated nonprofit organization. Their primary mission revolves around providing housing assistance to individuals with low income, the elderly, and those with disabilities. They manage a total of 192 housing units, funded by both the U.S. Department of Housing and Urban Development (HUD) under Section 202, and the Farmers Home Administration (FHA). This assistance ensures a safe and comfortable living environment for those in need, contributing positively to their quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 60% (Two-Star out of Four Star rating)
Volunteer Housing Development Corporation Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of performance in accountability and finance. With a total score of 60%, the organization demonstrates strong governance measures, including a fully independent board and established policies for conflict of interest and document retention. However, it faces significant challenges in financial transparency, as evidenced by the low scores in financial statements and liabilities to assets ratio.
The organization's program expense ratio is commendable, suggesting a strong focus on its mission-related activities. However, the lack of necessary financial documentation and an absence of a whistleblower policy raise concerns about its financial management and overall transparency. These factors have contributed to the overall rating, highlighting areas where the organization could improve its accountability to stakeholders.
While the organization shows potential through its governance structure and focus on program spending, the significant shortcomings in financial reporting and transparency could hinder trust among donors and beneficiaries. Addressing these issues would be essential for enhancing its reputation and efficacy in serving the community.
This AI summary has been generated from information found on Charity Navigator.
Is Volunteer Housing Development Corporation Inc legitimate?
Volunteer Housing Development Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Volunteer Housing Development Corporation 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.
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What is the mission statement of Volunteer Housing Development Corporation Inc?
The Volunteer Housing Development Corporation Inc's mission is centered around providing housing assistance for individuals with low income, the elderly, and those with disabilities. They accomplish this through the operation of HUD-assisted housing units, numbering 144, and Farmers Home Administration units, totaling 48. Their mission is to contribute to the well-being of these vulnerable groups by offering them suitable living spaces.
Who is the CEO of Volunteer Housing Development Corporation Inc?
Kay Hale is the President of Volunteer Housing Development Corporation Inc.
What is the revenue of Volunteer Housing Development Corporation Inc?
Volunteer Housing Development Corporation Inc's revenue in 2023 was $1,663,429.
Who are the executives of Volunteer Housing Development Corporation Inc and what are their salaries?
Here are 11 key members and their salaries:
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Where can I find the form 990 for Volunteer Housing Development Corporation Inc?
Volunteer Housing Development Corporation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Volunteer Housing Development Corporation Inc
Volunteer Housing Development Corporation Inc is dedicated to providing housing solutions for individuals who fall under the categories of low income, elderly, and handicapped. This nonprofit organization fulfills its mission by operating HUD-assisted housing units, specifically 144 units under Section 202 and 48 units under the Farmers Home program. By doing so, Volunteer Housing Development Corporation Inc plays a crucial role in ensuring that these vulnerable groups have access to safe and affordable housing options.
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Impact
July, 2024
Volunteer Housing Development Corporation Inc plays a crucial role in providing HUD-assisted housing for low-income, elderly, and handicapped individuals in the city of Morristown, TN. With a total of 144 HUD units and 48 Farmers Home units, this organization offers affordable housing options to those in need. By focusing on this mission of providing housing assistance to vulnerable populations, Volunteer Housing Development Corporation Inc helps improve the quality of life for those it serves. Their impact directly addresses the critical need for accessible and affordable housing in the community, making a tangible difference in the lives of individuals facing economic challenges or disabilities.
This information is meant to be a general summary of Volunteer Housing Development Corporation 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 2023.
- Investment Income: $813,417
- Program Service Revenue: $588,897
- Gross Receipts: $1,850,035
Assets and Liabilities:
- Total Assets: $5,912,020
- Total Liabilities: $5,745,514
- Net Assets: $166,506
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$445,450
MANAGEMENT FEES
Revenue
$125,105
TENANT CHARGES
Revenue
$12,797
LAUNDRY AND VENDING INCOME
Revenue
$5,545
Organization Details
Founding Year
1970
Phone
(423) 586-1494Principal Officer
Kay Hale
Main Address
PO BOX 1218, MORRISTOWN, TN, 378161218
NTEE Category
Code: L21 - Housing
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