Overview
What is Capitol Area Developments Inc?
Capitol Area Developments Inc, located in Raleigh, North Carolina, is a nonprofit organization dedicated to providing development services for low-income housing. Their primary mission is to offer housing solutions to families with moderate incomes. This mission is executed through their activity, which involves directly providing housing units to these income-restricted families. The organization's address is 900 Haynes Street, Raleigh, NC 27604.
What are the reviews and ratings of this charity?
Charity Navigator rates Capitol Area Developments Inc with an 86%, resulting in a Three-Star out of Four Star rating. This score is based solely on the Accountability & Finance beacon, which reflects the organization’s fiscal health and governance practices. An 86% in this category suggests that the nonprofit demonstrates a solid commitment to accountability and effective financial management.
One of the notable strengths of Capitol Area Developments Inc is its fully independent board, which is composed entirely of independent members. This independence is crucial for unbiased decision-making and has earned the organization maximum points in that area. Additionally, the charity has a strong track record in financial practices, with perfect scores in areas such as audit financial statements and the absence of material diversion of assets.
However, while the organization has excelled in accountability and financial metrics, the overall rating is limited to this single component. Potential donors or supporters may want to explore additional aspects of the nonprofit's performance and impact to get a complete picture of its effectiveness beyond financial accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Capitol Area Developments Inc legitimate?
Capitol Area Developments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Capitol Area Developments 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Capitol Area Developments Inc?
Capitol Area Developments Inc is dedicated to providing housing solutions for families with low to moderate income levels. Their mission encompasses offering development services specifically for the construction and maintenance of affordable housing units. By offering these services, the organization aims to contribute to the housing needs of financially disadvantaged families, ensuring they have access to safe and comfortable living environments. The organization's primary goal is to make a positive impact on the lives of these families by addressing one of their most fundamental needs: a secure and affordable home.
Who is the CEO of Capitol Area Developments Inc?
Elizabeth Edgerton is the Board Chair of Capitol Area Developments Inc.
What is the revenue of Capitol Area Developments Inc?
Capitol Area Developments Inc's revenue in 2022 was $4,490,893.
Who are the executives of Capitol Area Developments Inc 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 Capitol Area Developments Inc?
Capitol Area Developments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Capitol Area Developments Inc
Capitol Area Developments Inc, as a nonprofit organization, is dedicated to providing housing solutions for families with low to moderate incomes. This mission is encapsulated in the development services it offers, focusing on the construction and management of affordable housing units. By offering housing options to those in need, Capitol Area Developments Inc seeks to contribute to the well-being and stability of these families, enabling them to build a better future. The organization's primary goal is to make housing accessible and affordable, thereby fostering a sense of community and opportunities for growth.
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Impact
July, 2024
Capitol Area Developments Inc's impact lies in providing housing to low to moderate income families in Raleigh, North Carolina. Through their development services for low-income housing, they enable individuals and families to access affordable and safe housing options, addressing a crucial need in the community. Their mission to provide housing to those in need directly improves the lives of these individuals, contributing to the overall well-being and stability of the community. Their work aligns with their tag of "Housing," highlighting their dedication to this important cause.
This information is meant to be a general summary of Capitol Area Developments 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: $3,281
- Program Service Revenue: $4,487,633
- Gross Receipts: $4,490,893
Assets and Liabilities:
- Total Assets: $27,712,082
- Total Liabilities: $5,214,867
- Net Assets: $22,497,215
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT CHARGES
Revenue
$4,388,271
INCENTIVE MANAGEMENT FEE
Revenue
$55,000
OTHER INCOME
Revenue
$44,362
Organization Details
Founding Year
1984
Phone
(919) 831-8300Principal Officer
Elizabeth Edgerton
Main Address
900 HAYNES STREET, RALEIGH, NC, 27604
NTEE Category
Code: L200 - Housing
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