Overview
What is Salisbury Community Development Corporation Inc?
Salisbury Community Development Corporation Inc, located in Salisbury, North Carolina, serves as a nonprofit organization aimed at addressing the housing needs of low-income individuals. With a team of six dedicated employees, their mission is to facilitate the acquisition of affordable housing for individuals who fall under the low and moderate income bracket. They achieve this goal by purchasing various properties and transforming them into homes for first-time buyers. The corporation's activities are centered around this primary objective, making a significant impact on the community's housing landscape.
Official website here: www.salisburycdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Stars
The Salisbury Community Development Corporation Inc has earned a 79% rating from Charity Navigator, reflecting a solid performance in the areas of accountability and finance. This rating is based entirely on its accountability measures, with the organization receiving high marks for maintaining a fully independent board and demonstrating robust oversight through its audit and oversight committee. The presence of comprehensive policies like conflict of interest and whistleblower protections further enhances its credibility.
Strengths of the organization include its effective management as indicated by a high program expense ratio of 72.78%, which suggests that the majority of its funds are directed toward programmatic activities rather than administrative costs. Additionally, the organization has demonstrated transparency by documenting board meeting minutes and listing pertinent information on its website, contributing positively to its accountability rating.
However, the organization's liabilities to assets ratio of 67.89% indicates that it has a relatively significant amount of liabilities compared to its assets, which could be a concern for potential donors assessing financial health. While the strong governance and high accountability scores are commendable, interested parties should keep this financial ratio in mind when evaluating the organization's overall fiscal stability.
This AI summary has been generated from information found on Charity Navigator.
Is Salisbury Community Development Corporation Inc legitimate?
Salisbury Community Development Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Salisbury Community 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $100,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $145,478
For more financial information, click here
Official website here: www.salisburycdc.org
What is the mission statement of Salisbury Community Development Corporation Inc?
The Salisbury Community Development Corporation Inc's mission is centered around assisting individuals with low and moderate income levels in securing affordable housing. This is achieved through various means, including the purchase of properties to construct homes for first-time buyers and provide housing for those in need. The corporation's objective is to contribute to the housing sector, ensuring that a portion of the population has access to affordable living spaces.
Official website here: www.salisburycdc.org
Who is the CEO of Salisbury Community Development Corporation Inc?
David R Mccoy is the Secretary of Salisbury Community Development Corporation Inc.
Official website here: www.salisburycdc.org
What is the revenue of Salisbury Community Development Corporation Inc?
Salisbury Community Development Corporation Inc's revenue in 2023 was $671,444.
Official website here: www.salisburycdc.org
Who are the executives of Salisbury Community Development Corporation Inc and what are their salaries?
The average compensation at Salisbury Community Development Corporation Inc during 2023 was $40,913. There are 6 employees at Salisbury Community Development Corporation Inc.
Here are 8 key members and their salaries:
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Official website here: www.salisburycdc.org
Where can I find the form 990 for Salisbury Community Development Corporation Inc?
Salisbury Community Development Corporation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.salisburycdc.org
Learn more at the official website: www.salisburycdc.org
Mission Statement of Salisbury Community Development Corporation Inc
Salisbury Community Development Corporation Inc, as its mission statement suggests, is dedicated to assisting low and moderate income individuals in obtaining affordable housing. This nonprofit organization achieves this goal by purchasing various properties and utilizing them to build houses for first-time buyers, as well as providing housing opportunities for individuals with lower income levels. By doing so, Salisbury Community Development Corporation Inc is committed to making housing more accessible and affordable for those who may otherwise struggle to secure a place to call home. This mission is crucial in addressing the housing needs of individuals and families who are often underserved by the traditional housing market.
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Impact
July, 2024
Salisbury Community Development Corporation Inc's impact is clearly seen in the tangible outcomes of their work. By purchasing various properties to build houses for first-time buyers and providing housing for low-income individuals, they are directly addressing the critical need for affordable housing in Salisbury, NC. Through their mission to assist low and moderate-income persons in obtaining affordable housing, they are not only providing shelter but also contributing to the stability and well-being of families in the community. Their focus on housing aligns with their commitment to improving the quality of life for those in need, making a meaningful difference in the lives of individuals and families in Salisbury.
This information is meant to be a general summary of Salisbury Community 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: $387
- Program Service Revenue: $53,335
- Gross Receipts: $671,444
Assets and Liabilities:
- Total Assets: $2,782,598
- Total Liabilities: $1,889,282
- Net Assets: $893,316
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE-TOWN OF SPENCER PLANNING
Revenue
$43,925
FEE-CITY OF SALISBURY -PRGRM
Revenue
$9,410
Organization Details
Founding Year
1985
Phone
(704) 638-4474Principal Officer
David R Mccoy
Main Address
P O BOX 4408, SALISBURY, NC, 281454408
Website
www.salisburycdc.orgNTEE Category
Code: L20Z - Housing
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