Overview
What is Mmm Heritage Bell Oaks Housing Corp?
Mmm Heritage Bell Oaks Housing Corp is a nonprofit organization situated in Conroe, Texas, specifically at 21059 Blair Road, 77385. Their primary purpose is to provide housing opportunities for low-income and very low-income families. They have obtained housing units under a land use restriction agreement from the Resolution Trust Corporation in Bellville, Texas. The organization operates the Bell Oaks Village Apartments, which houses 76 units in total. Among these, 27 units are specifically allocated for low-income families, with 15 of these units catering to families with very low incomes. The organization employs a team of 4 individuals to manage and maintain these apartments, ensuring that these families have access to appropriate housing solutions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Star rating)
Mmm Heritage Bell Oaks Housing Corp has demonstrated a strong commitment to accountability and finance, earning a Four-Star rating based on its impressive score of 90%. The organization excels in several key areas, including having a fully independent board, rigorous financial audits, and a low liabilities to assets ratio, which highlights its financial health and operational integrity.
The charity's fiscal performance is commendable, with a program expense ratio of 89.13%, indicating that a significant portion of its funding is directed towards its programs rather than administrative costs. Additionally, the organization has robust policies in place, including whistleblower and document retention policies, ensuring transparency and proper governance.
Overall, Mmm Heritage Bell Oaks Housing Corp appears to be effectively managed and financially sound, which is reassuring for donors and stakeholders. However, while the data reflects strong financial practices, further insights into programmatic impact and community feedback could provide a more comprehensive understanding of its overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Mmm Heritage Bell Oaks Housing Corp legitimate?
Mmm Heritage Bell Oaks Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mmm Heritage Bell Oaks Housing Corp 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: $132,840
For more financial information, click here
What is the mission statement of Mmm Heritage Bell Oaks Housing Corp?
Mmm Heritage Bell Oaks Housing Corp's mission is centered around owning and operating an apartment project comprising 76 units. Notably, 27 of these units are reserved for low-income families, with 15 of those specifically allocated for very low-income families. The corporation's primary objective is to provide housing for these economically disadvantaged families under a land use restriction agreement from the Resolution Trust Corporation.
What is the revenue of Mmm Heritage Bell Oaks Housing Corp?
Mmm Heritage Bell Oaks Housing Corp's revenue in 2023 was $812,657.
Who are the executives of Mmm Heritage Bell Oaks Housing Corp and what are their salaries?
The average compensation at Mmm Heritage Bell Oaks Housing Corp during 2023 was $33,210. There are 4 employees at Mmm Heritage Bell Oaks Housing Corp.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $133,307
- Other: $19,982
- Compensation: $0
- Related: $100,586
- Other: $19,982
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Mmm Heritage Bell Oaks Housing Corp?
Mmm Heritage Bell Oaks Housing Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Mmm Heritage Bell Oaks Housing Corp
Mmm Heritage Bell Oaks Housing Corp is committed to owning and operating an apartment project, housing a total of 76 units. Among these, 27 units are specifically reserved for low-income families, with 15 of these units catering to very low-income families. The corporation's mission is to provide affordable housing options for these families under a land use restriction agreement from the Resolution Trust Corporation. By doing so, Mmm Heritage Bell Oaks Housing Corp plays a significant role in ensuring that a portion of the community has access to suitable living conditions, regardless of their financial circumstances. The corporation's focus on low and very low-income families is crucial in addressing the housing needs of a section of the population that may otherwise struggle to find affordable housing options.
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Impact
July, 2024
Mmm Heritage Bell Oaks Housing Corp's impact lies in providing essential housing assistance to low-income and very low-income families in Bellville, Texas. By owning and operating an apartment project with 76 units, including 27 units specifically designated for these families, the organization plays a crucial role in addressing the housing needs of vulnerable populations. Through the provision of affordable rental units under a land use restriction agreement, Mmm Heritage Bell Oaks Housing Corp contributes significantly to improving the quality of life for those facing financial challenges in securing adequate housing.
This information is meant to be a general summary of Mmm Heritage Bell Oaks Housing Corp. 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: $61,229
- Program Service Revenue: $762,918
- Gross Receipts: $824,147
Assets and Liabilities:
- Total Assets: $2,351,495
- Total Liabilities: $319,064
- Net Assets: $2,032,431
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$728,010
TENANT CHARGES
Revenue
$34,908
Organization Details
Founding Year
1982
Principal Officer
Homer Allison
NTEE Category
Code: P26 - Human services
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