Overview
What is Community Housing Initiative Inc?
Community Housing Initiative Inc., based in Melbourne, Florida, is a nonprofit organization dedicated to providing affordable housing for low-income families. They have developed and operate Willow Brook Village Apartments, offering 24 two-bedroom and 32 three-bedroom units. The company also prioritizes the well-being of its residents by providing various supportive programs, such as budgeting and finance counseling, credit counseling, home maintenance assistance, and affordable daycare coordination. In addition, Community Housing Initiative Inc. offers homeownership opportunities for their residents, allowing them to use a portion of their rent towards a down payment. As a not-for-profit charitable development corporation, their mission is to improve the quality of life for the less fortunate and foster strong relationships within the communities they serve. They strive to increase public awareness of the need for affordable housing and work collaboratively with existing service organizations.
Official website here: www.chibrevard.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
Community Housing Initiative Inc has received a solid Three-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. The organization scored 81% overall, with its entire score derived from its accountability and finance metrics, which reflects the charity's commitment to transparency and responsible fiscal management.
The charity excels in several areas, particularly in board independence, achieving a perfect score of 100% for having independent board members. Additionally, it has shown exemplary practices in financial oversight, maintaining an audit committee, and having no material diversion of assets. Other strengths include a highly favorable program expense ratio of 94.93%, which suggests that a significant portion of its funds directly supports its programs.
While the organization demonstrates solid governance and financial practices, there is no mention of any specific programmatic outcomes or impact measurements in the feedback provided. This might limit a comprehensive understanding of its effectiveness in fulfilling its mission, but the strong accountability measures in place suggest a reliable organization.
This AI summary has been generated from information found on Charity Navigator.
Is Community Housing Initiative Inc legitimate?
Community Housing Initiative Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Housing Initiative 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: $111,855
Professional Fundraising Fees: $0
Other Salaries and Wages: $149,887
For more financial information, click here
Official website here: www.chibrevard.org
What is the mission statement of Community Housing Initiative Inc?
Community Housing Initiative Inc., as a not-for-profit charitable development corporation, is dedicated to providing affordable housing for households with very low, low, and moderate incomes. Their mission is to enhance the quality of life for these households and strengthen their relationships with existing service organizations in the communities they serve. The initiative also seeks to educate communities, aiming to increase public awareness of the importance of affordable housing.
Official website here: www.chibrevard.org
Who is the CEO of Community Housing Initiative Inc?
Nicole Tenpenny is the Treasurer of Community Housing Initiative Inc.
Official website here: www.chibrevard.org
What is the revenue of Community Housing Initiative Inc?
Community Housing Initiative Inc's revenue in 2023 was $1,522,185.
Official website here: www.chibrevard.org
Who are the executives of Community Housing Initiative Inc and what are their salaries?
The average compensation at Community Housing Initiative Inc during 2023 was $43,624. There are 6 employees and 6 volunteers at Community Housing Initiative Inc.
Here are 7 key members and their salaries:
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- Other: $0
- Compensation: $111,855
- Related: $0
- Other: $3,462
Official website here: www.chibrevard.org
Where can I find the form 990 for Community Housing Initiative Inc?
Community Housing Initiative Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.chibrevard.org
Learn more at the official website: www.chibrevard.org
Mission Statement of Community Housing Initiative Inc
Community Housing Initiative Inc, a not-for-profit charitable development corporation, is dedicated to providing affordable housing for very low, low, and moderate-income households. Their mission is multifaceted, aiming not only to provide shelter but also to enhance the quality of life for these families. They strive to build strong relationships with existing service organizations within the communities they serve. Moreover, the initiative is committed to educating communities about the importance of affordable housing and increasing public awareness on the subject. By doing so, they aim to contribute to a more inclusive and equitable living environment for all.
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Impact
July, 2024
Community Housing Initiative Inc's impact is significant in the city of Melbourne, FL. Through the development and operation of Willow Brook Village Apartments, the organization provides affordable housing solutions to very low, low, and moderate-income households. This not-for-profit charitable development corporation not only offers housing units but also provides a range of programs to support residents, including budgeting and finance counseling, credit counseling, home maintenance support, and affordable daycare coordination. Furthermore, Community Housing Initiative Inc offers residents the opportunity to transition to homeownership by allowing them to qualify a portion of their rent towards a down payment. By focusing on improving the quality of life and building strong community relationships, the organization plays a vital role in promoting public awareness of the need for affordable housing and contributing to community improvement efforts.
This information is meant to be a general summary of Community Housing Initiative 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: $428,008
- Program Service Revenue: $1,094,177
- Gross Receipts: $3,514,818
Assets and Liabilities:
- Total Assets: $4,224,214
- Total Liabilities: $5,008,489
- Net Assets: -$784,275
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$614,555
OTHER PROGRAM FEES
Revenue
$260,693
COMMUNITY REINVESTMENTS
Revenue
$132,438
CDHO - COCOA
Revenue
$86,491
Organization Details
Founding Year
1992
Phone
(321) 253-0053Principal Officer
Nicole Tenpenny
Main Address
PO BOX 410522, MELBOURNE, FL, 329410522
Website
www.chibrevard.orgNTEE Category
Code: S21Z - Community improvement
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