Overview
What is Virginia Street Baptist Church Homes Inc?
Virginia Street Baptist Church Homes Inc, established in 1979, is a not-for-profit organization based in Hopkinsville, Kentucky. Their primary mission is to provide affordable housing for individuals with low-income through the operation of the Woodland Heights Apartments, a 94-unit complex. This complex operates under the National Housing Act, providing a vital service to the community. The organization's activities are focused on this housing project, ensuring access to suitable living environments for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars)
Virginia Street Baptist Church Homes Inc holds a Two-Star rating with a score of 73%, indicating a need for improvement, particularly in financial accountability and transparency. The rating is derived entirely from a single beacon score, which reflects both strengths and weaknesses in the organization's financial practices. Notably, the church has a fully independent board and exhibits strong performance in areas such as audit and oversight, which bodes well for governance.
Despite its strengths, the organization faces significant challenges, particularly evidenced by a liabilities to assets ratio of 173.26%, which raises concerns about financial stability. Additionally, the nonprofit lacks essential policies such as a whistleblower policy and document retention protocols. The omission of the tax form from the nonprofit's website also detracts from its transparency efforts, further contributing to the need for a more robust accountability framework.
On a positive note, the organization allocates a commendable 71.63% of its expenses toward programs, indicating a focus on mission-related activities. However, to enhance its evaluation and public trust, Virginia Street Baptist Church Homes Inc should address the highlighted deficiencies in its governance and financial practices.
This AI summary has been generated from information found on Charity Navigator.
Is Virginia Street Baptist Church Homes Inc legitimate?
Virginia Street Baptist Church Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia Street Baptist Church Homes 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: $113,949
For more financial information, click here
What is the mission statement of Virginia Street Baptist Church Homes Inc?
Virginia Street Baptist Church Homes Inc, functioning as Woodland Heights Apartments, is a not-for-profit organization established in 1979 with the primary goal of providing low-income housing. Under the National Housing Act, they manage a 94-unit apartment complex. The organization's mission, in essence, is to offer affordable living spaces, contributing to the well-being of individuals who may otherwise be unable to secure suitable housing.
Who is the CEO of Virginia Street Baptist Church Homes Inc?
Bobby Waller is the Director of Virginia Street Baptist Church Homes Inc.
What is the revenue of Virginia Street Baptist Church Homes Inc?
Virginia Street Baptist Church Homes Inc's revenue in 2023 was $695,302.
Who are the executives of Virginia Street Baptist Church Homes Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Virginia Street Baptist Church Homes Inc?
Virginia Street Baptist Church Homes Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Virginia Street Baptist Church Homes Inc
Virginia Street Baptist Church Homes Inc, as the operator of Woodland Heights Apartments, is dedicated to providing low-income housing. Established in 1979, this not-for-profit organization has been serving its mission under the National Housing Act. By managing a 94-unit apartment complex, Virginia Street Baptist Church Homes Inc aims to offer affordable housing options to individuals in need. This mission aligns with its commitment to contributing positively to the community and promoting social equity.
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Impact
July, 2024
Virginia Street Baptist Church Homes Inc's impact is significant in providing low-income housing through its Woodland Heights Apartments. This Kentucky-based organization operates a 94-unit apartment complex under the National Housing Act, offering essential housing support to individuals and families in need within the Hopkinsville community. Through their dedicated efforts, Virginia Street Baptist Church Homes Inc contributes to addressing housing insecurity and improving the quality of life for those facing economic challenges in the region.
This information is meant to be a general summary of Virginia Street Baptist Church Homes 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: $50
- Program Service Revenue: $158,387
- Gross Receipts: $695,302
Assets and Liabilities:
- Total Assets: $743,912
- Total Liabilities: $1,288,938
- Net Assets: -$545,026
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT & CHARGES
Revenue
$158,387
Organization Details
Founding Year
1979
Phone
(812) 876-5478Principal Officer
Bobby Waller
Main Address
2850 GREENVILLE ROAD, HOPKINSVILLE, KY, 42240
NTEE Category
Code: L21Z - Housing
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