Overview
What is Housing Resource Development Corporation?
The Housing Resource Development Corporation, situated in Winter Park, Florida, is a nonprofit organization that is dedicated to providing affordable housing solutions. Specifically, they offer low-rent apartments to 48 families with disabilities, in compliance with Section 8 of the U.S. Housing Act of 1937. Their primary mission revolves around offering housing support to the disabled community. This organization plays an essential role in ensuring that individuals with disabilities have access to safe and suitable living environments.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (64%)
Housing Resource Development Corporation has received a two-star rating from Charity Navigator, indicating that it has significant room for improvement in its accountability and financial practices. While the organization maintains a fully independent board, which is a positive aspect of its governance, it is lacking in transparency due to missing financial statements and other key documents on its website.
The organization has shown strong performance in areas such as program expense ratio, which stands at 84.23%, signifying that a substantial portion of its expenditures is directed towards its programs rather than administrative costs. Additionally, it has established effective policies regarding conflicts of interest, whistleblower protections, and document retention, all of which contribute to good governance practices.
However, the lack of financial statements and the failure to post important documents, such as tax forms, signal potential issues in transparency and accountability. The liabilities to assets ratio of 104.29% raises concerns about the organization's financial health, further emphasizing the need for improvement in these areas. Overall, while the organization is doing well in certain aspects, it must address its transparency and financial reporting shortcomings to enhance its credibility and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Resource Development Corporation legitimate?
Housing Resource Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Resource 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: $92,717
For more financial information, click here
What is the mission statement of Housing Resource Development Corporation?
The Housing Resource Development Corporation is dedicated to providing housing for individuals with disabilities. This organization achieves this mission by offering low-rent apartments for 48 disabled families, under Section 8 of the U.S. Housing Act of 1937. Their primary goal is to ensure that individuals with disabilities have access to suitable housing options, thereby improving their quality of life. The corporation's activities are centered around providing a safe and comfortable living environment for these families, fostering independence and dignity in their daily lives.
What is the revenue of Housing Resource Development Corporation?
Housing Resource Development Corporation's revenue in 2024 was $878,864.
Who are the executives of Housing Resource Development Corporation and what are their salaries?
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Housing Resource Development Corporation?
Housing Resource Development Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Housing Resource Development Corporation
Housing Resource Development Corporation, as its name suggests, is committed to providing housing solutions for individuals with disabilities. At its core, the organization's mission is to offer affordable living accommodations to 48 such families, leveraging Section 8 of the U.S. Housing Act of 1937. This legislation plays a crucial role in enabling the corporation to offer low-rent apartments to its disabled residents, thereby providing them with a stable and suitable living environment. The corporation's dedication to this cause is evident in its provision of housing solutions, which are a vital component in ensuring the overall well-being and independence of its beneficiaries.
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Impact
July, 2024
Housing Resource Development Corporation provides housing for disabled individuals by offering low-rent apartments for 48 disabled families under Section 8 of the U.S. Housing Act of 1937. This organization's impact can be seen in its tangible support for disabled individuals who may face challenges in finding affordable and accessible housing. By fulfilling this critical need, Housing Resource Development Corporation contributes to enhancing the quality of life and promoting stability for disabled individuals and their families in Winter Park, FL.
This information is meant to be a general summary of Housing Resource 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 2024.
- Investment Income: $140,617
- Program Service Revenue: $738,247
- Gross Receipts: $878,864
Assets and Liabilities:
- Total Assets: $4,903,035
- Total Liabilities: $5,113,756
- Net Assets: -$210,721
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$736,936
LAUNDRY
Revenue
$1,311
Organization Details
Founding Year
1982
Principal Officer
David Mcdaniel
NTEE Category
Code: L20Z - Housing
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