Overview
What is Pike County Affordable Housing Development Corporation?
Pike County Affordable Housing Development Corporation is a nonprofit organization dedicated to serving the elderly community. Located within Pike County, they manage an 8-unit apartment complex, adhering to the guidelines set by the Housing Act of 1959, specifically section 202. Their primary mission is to provide affordable housing options for this demographic, aiming to enhance their quality of life. This mission is achieved through the operation of their apartment complex, catering to low-income elderly individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement, 65%)
The Pike County Affordable Housing Development Corporation has received a two-star rating from Charity Navigator, indicating that the organization requires improvement in certain areas. While it has a commendable program expense ratio of 100%, signifying that all its expenses go towards its programs, it struggles with financial stability, as indicated by a liabilities to assets ratio of 274.33%. This could raise concerns about the organization's financial health and ability to sustain its operations.
In terms of governance, the organization shows strengths with a fully independent board, scoring full points for independent board members and size. However, it has several significant gaps in its policies, including the absence of a whistleblower policy and document retention policies, which could lead to potential governance issues. These missing elements may affect the organization's overall accountability and transparency.
Overall, while the Pike County Affordable Housing Development Corporation demonstrates a commitment to its mission through program spending, the lack of essential policies and considerable liabilities highlights the need for improvement in financial management and governance practices. Addressing these weaknesses will be crucial for the organization to enhance its credibility and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Pike County Affordable Housing Development Corporation legitimate?
Pike County Affordable Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pike County Affordable Housing 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.
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What is the mission statement of Pike County Affordable Housing Development Corporation?
The Pike County Affordable Housing Development Corporation is committed to providing affordable housing for the elderly. Operating an 8-unit apartment complex, the corporation adheres to the provisions of section 202 of the Housing Act of 1959. Their primary mission is to cater to this specific demographic, offering them a place to live within their financial means. The organization's goal is to contribute positively to the lives of its elderly residents by providing affordable housing solutions.
Who is the CEO of Pike County Affordable Housing Development Corporation?
Brandi Damron is the Secretary of Pike County Affordable Housing Development Corporation.
What is the revenue of Pike County Affordable Housing Development Corporation?
Pike County Affordable Housing Development Corporation's revenue in 2023 was $45,484.
Who are the executives of Pike County Affordable Housing Development Corporation 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 Pike County Affordable Housing Development Corporation?
Pike County Affordable Housing Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Pike County Affordable Housing Development Corporation
Pike County Affordable Housing Development Corporation is dedicated to serving the elderly community by providing affordable housing options. In line with the provisions of the Housing Act of 1959, section 202, this nonprofit organization operates an 8-unit apartment complex specifically designed for this demographic. Their primary mission is to ensure that the elderly have access to affordable housing, thereby contributing to their overall well-being and quality of life.
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Impact
August, 2024
Pike County Affordable Housing Development Corporation has a significant impact on the community by providing low-income housing for the elderly in Pikeville, KY. Through its 8-unit apartment complex, this organization fulfills a crucial need for affordable housing for this demographic. By adhering to the provisions of the Housing act of 1959, Pike County Affordable Housing Development Corporation ensures that elderly individuals have access to safe and affordable housing options. Overall, their work contributes to enhancing the quality of life and well-being of elderly residents in the area.
This information is meant to be a general summary of Pike County Affordable Housing 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 2023.
- Investment Income: $119
- Program Service Revenue: $45,365
- Gross Receipts: $45,484
Assets and Liabilities:
- Total Assets: $146,535
- Total Liabilities: $401,999
- Net Assets: -$255,464
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$45,365
Organization Details
Founding Year
2012
Phone
(606) 432-4178Principal Officer
Brandi Damron
Main Address
PO BOX 1468, PIKEVILLE, KY, 41502
NTEE Category
Code: L21 - Housing
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