Overview
What is Lake Cumberland Housing Agency Inc?
Lake Cumberland Housing Agency Inc, situated in Jamestown, Kentucky, is a nonprofit organization dedicated to addressing housing needs within the state's Kentucky counties. As a cooperative entity working alongside public policy, their primary mission is to sponsor, produce, and promote affordable housing options for lower-income individuals and the elderly. With a team of 29 employees, they strive to provide housing solutions that cater to the needs of this demographic, contributing to a more inclusive and equitable community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 67%)
The Lake Cumberland Housing Agency Inc has received a two-star rating from Charity Navigator, indicating that there are areas requiring significant improvement. The overall score of 67% reflects a mixed performance primarily in accountability and finance, where the agency achieved a score of 67. While the organization boasts a fully independent board and a strong liabilities to assets ratio, it fell short in several critical areas related to transparency and governance practices.
Strengths of the agency include a high percentage of independent board members and a strong program expense ratio, indicating that a significant portion of its budget is directed toward its mission-related activities. However, the absence of financial statements, as well as missing policies on conflicts of interest and whistleblower protections, raises concerns about the organization's transparency and accountability to stakeholders.
Additionally, critical documents, such as the tax form and minutes from board meetings, are not readily accessible on the nonprofit's website, which further undermines its commitment to transparency. In summary, while the Lake Cumberland Housing Agency has some solid financial indicators and governance structures in place, it must address these transparency and policy gaps to improve its overall standing and credibility.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Cumberland Housing Agency Inc legitimate?
Lake Cumberland Housing Agency Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Cumberland Housing Agency 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: $221,448
For more financial information, click here
What is the mission statement of Lake Cumberland Housing Agency Inc?
The Lake Cumberland Housing Agency Inc, as a non-profit corporation, is dedicated to providing housing opportunities for individuals with lower income and the elderly. This organization collaborates with public policy to sponsor, produce, and promote low and moderate income housing in various Kentucky counties. Its mission is centered around ensuring access to suitable housing for these demographics, thereby contributing to their overall well-being. In essence, the agency's primary goal is to bridge the housing gap for those who might otherwise struggle to secure decent living spaces due to their financial circumstances or advanced age.
What is the revenue of Lake Cumberland Housing Agency Inc?
Lake Cumberland Housing Agency Inc's revenue in 2024 was $994,345.
Who are the executives of Lake Cumberland Housing Agency Inc and what are their salaries?
The average compensation at Lake Cumberland Housing Agency Inc during 2024 was $7,909. There are 28 employees at Lake Cumberland Housing Agency Inc.
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- Compensation: $70,687
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- Other: $4,143
Where can I find the form 990 for Lake Cumberland Housing Agency Inc?
Lake Cumberland Housing Agency Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Lake Cumberland Housing Agency Inc
Lake Cumberland Housing Agency Inc, as a non-profit corporation, is committed to providing housing solutions for individuals with lower incomes and the elderly. In line with public policy, this organization sponsors, produces, and promotes the construction of affordable housing units in various Kentucky counties. By doing so, Lake Cumberland Housing Agency Inc plays a crucial role in addressing the housing needs of those who may otherwise struggle to secure suitable living arrangements. Through its mission, the agency strives to enhance the quality of life for its target population, ensuring they have access to safe and decent housing.
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Impact
July, 2024
Lake Cumberland Housing Agency Inc's impact lies in its dedicated efforts to provide housing solutions to lower-income and elderly individuals in Kentucky counties. By working in conjunction with public policy, this agency sponsors, produces, and promotes low and moderate-income housing options. Through its mission to ensure that vulnerable populations have access to safe and affordable housing, Lake Cumberland Housing Agency Inc positively impacts the lives of those in need within the community of Jamestown, KY.
This information is meant to be a general summary of Lake Cumberland Housing Agency 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 2024.
- Investment Income: $721
- Program Service Revenue: $461,484
- Gross Receipts: $996,135
Assets and Liabilities:
- Total Assets: $3,058,605
- Total Liabilities: $1,298,633
- Net Assets: $1,759,972
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$317,021
ADMIN SERVICE FEES
Revenue
$104,375
OTHER CHARGES
Revenue
$40,088
Organization Details
Founding Year
1975
Principal Officer
Lisa Mann
NTEE Category
Code: L210 - Housing
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