Overview
What is Kentucky Mountain Housing Development Corporation Inc?
Kentucky Mountain Housing Development Corporation Inc is a nonprofit organization that is primarily focused on constructing and renovating low-income housing. Their mission is dedicated to this cause, aiming to contribute positively to the community by providing suitable living spaces for individuals with limited financial resources. Notably, the information provided does not contain specific details about the reach or extent of their operations, any research initiatives, or support services offered beyond housing construction and renovation.
Official website here: www.kentuckymountainhousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76%, Three-Star out of Four Star Rating
Kentucky Mountain Housing Development Corporation Inc has received a Three-Star rating from Charity Navigator, reflecting an overall score of 76%. This rating is determined by a single beacon score, which emphasizes accountability and finance. The organization demonstrates strong governance with 100% independent board members and a solid program expense ratio of 77.94%, indicating that a significant portion of its funds are directed towards programs.
On the positive side, the nonprofit has shown no material diversion of assets, and all necessary board meeting minutes are documented and accessible. However, there are notable areas for improvement, particularly concerning the absence of a conflict of interest policy and whistleblower policy, both of which are critical for transparency and ethical governance.
While the organization has successfully maintained a low liabilities-to-assets ratio of 4.78%, the missing policies could raise concerns about internal controls and oversight. Overall, while the Kentucky Mountain Housing Development Corporation demonstrates strong financial practices, enhancing governance policies would further solidify its standing as a responsible nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Kentucky Mountain Housing Development Corporation Inc legitimate?
Kentucky Mountain Housing Development Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kentucky Mountain Housing 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $339,609
For more financial information, click here
Official website here: www.kentuckymountainhousing.org
What is the mission statement of Kentucky Mountain Housing Development Corporation Inc?
Kentucky Mountain Housing Development Corporation Inc's primary mission is centered around constructing and renovating housing for individuals with low income. This organization is committed to this task, aiming to provide suitable living spaces for those who may otherwise struggle to secure adequate housing. While specific details regarding their advocacy efforts or additional support services are not provided in the given information, it is clear that their focus is on housing-related projects for the economically disadvantaged.
Official website here: www.kentuckymountainhousing.org
Who is the CEO of Kentucky Mountain Housing Development Corporation Inc?
Bobby Wolfe is the Chairman of Kentucky Mountain Housing Development Corporation Inc.
Official website here: www.kentuckymountainhousing.org
What is the revenue of Kentucky Mountain Housing Development Corporation Inc?
Kentucky Mountain Housing Development Corporation Inc's revenue in 2022 was $954,271.
Official website here: www.kentuckymountainhousing.org
Who are the executives of Kentucky Mountain Housing Development Corporation Inc and what are their salaries?
The average compensation at Kentucky Mountain Housing Development Corporation Inc during 2022 was $30,874. There are 11 employees at Kentucky Mountain Housing Development Corporation Inc.
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- Compensation: $69,123
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- Other: $7,244
Official website here: www.kentuckymountainhousing.org
Where can I find the form 990 for Kentucky Mountain Housing Development Corporation Inc?
Kentucky Mountain Housing Development Corporation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.kentuckymountainhousing.org
Learn more at the official website: www.kentuckymountainhousing.org
Mission Statement of Kentucky Mountain Housing Development Corporation Inc
Kentucky Mountain Housing Development Corporation Inc is dedicated to constructing and renovating affordable housing for individuals with low income. Their mission is centered around this key activity, aiming to provide suitable living spaces for those who may not have easy access to such resources otherwise. This organization's work is essential in ensuring that housing remains a basic necessity, regardless of financial circumstances. By focusing on low-income housing construction and renovation, Kentucky Mountain Housing Development Corporation Inc plays a crucial role in promoting equitable living conditions.
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Impact
July, 2024
Kentucky Mountain Housing Development Corporation Inc's impact lies in its significant contributions to low-income housing construction and renovation in Manchester, KY. Through its efforts, the organization plays a crucial role in improving the living conditions and providing affordable housing options for disadvantaged individuals and families in the community. By focusing on community improvement through its housing initiatives, Kentucky Mountain Housing Development Corporation Inc positively impacts the lives of those in need and helps create a more inclusive and supportive environment for all residents.
This information is meant to be a general summary of Kentucky Mountain Housing 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 2022.
- Investment Income: $42,836
- Program Service Revenue: $681,155
- Gross Receipts: $954,271
Assets and Liabilities:
- Total Assets: $12,499,170
- Total Liabilities: $572,429
- Net Assets: $11,926,741
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONSTRUCTION REVENUES
Revenue
$493,311
INTEREST INCOME
Revenue
$147,589
RENTAL PROPERTIES
Revenue
$40,255
Organization Details
Principal Officer
Bobby Wolfe
Main Address
PO BOX 729, MANCHESTER, KY, 40962
NTEE Category
Code: S32Z - Community improvement
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