Overview
What is Reach Inc?
Reach Inc, located in Lexington, Kentucky, is a nonprofit organization that focuses on providing affordable housing opportunities for first-time homeowners in the central region of the state. Their primary program, Home Buyer Subsidies and Counseling, aims to prepare potential homeowners financially to secure mortgage financing. With a team of three dedicated individuals, Reach Inc strives to contribute to the community by making homeownership more accessible.
Is Reach Inc legitimate?
Reach Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Reach 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: $121,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $49,297
For more financial information, click here
What is the mission statement of Reach Inc?
Reach Inc, as an organization, is committed to providing affordable housing opportunities for first-time homeowners. Their mission is to facilitate this by offering financial assistance and counseling services. The home buyer subsidies and counseling program they offer is designed to prepare potential home buyers financially, enabling them to meet the requirements for mortgage financing. By doing so, Reach Inc aims to make homeownership more accessible, thereby contributing to the well-being of individuals and families.
Who is the CEO of Reach Inc?
Elisa Cooley is the Former Exec of Reach Inc.
What is the revenue of Reach Inc?
Reach Inc's revenue in 2023 was $289,446.
Who are the executives of Reach Inc and what are their salaries?
The average compensation at Reach Inc during 2023 was $56,766. There are 3 employees at Reach Inc.
Here are 21 key members and their salaries:
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Where can I find the form 990 for Reach Inc?
Reach Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Reach Inc
Reach Inc, as a nonprofit organization, is dedicated to providing an affordable housing solution for first-time homeowners in central Kentucky. Their primary mission is to facilitate the purchase of homes for individuals who are embarking on their homeownership journey for the first time. To accomplish this, Reach Inc offers home buyer subsidies and counseling services. These programs are designed to prepare first-time home buyers financially, helping them to qualify for mortgage financing. By providing these resources, Reach Inc aims to make the dream of homeownership more attainable for a wider range of individuals, thereby contributing to the well-being and stability of its community.
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Impact
October, 2024
Reach Inc significantly enhances the landscape of affordable housing for first-time homeowners in Central Kentucky. By offering homebuyer subsidies and counseling, the organization equips aspiring homeowners with the necessary tools and knowledge to navigate the complexities of mortgage financing. This support enables individuals and families to achieve homeownership, a crucial step toward stability and financial independence.
Located in Lexington, Kentucky, Reach Inc directly addresses the challenges many face in the housing market, making it easier for first-time buyers to qualify for mortgages. The impact of this program is profound, as it not only provides immediate financial assistance but also fosters long-term economic growth and community development in the region. Through its mission, Reach Inc is creating pathways to homeownership, transforming lives, and strengthening Central Kentucky's communities.
This information is meant to be a general summary of Reach 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: -$65,601
- Program Service Revenue: $12,073
- Gross Receipts: $529,821
Assets and Liabilities:
- Total Assets: $414,089
- Total Liabilities: $260,952
- Net Assets: $153,137
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COUNSELING INCOME
Revenue
$9,450
DEVELOPMENT FEE REVENUE
Revenue
$1,400
CREDIT REPORTS
Revenue
$1,223
Organization Details
Founding Year
1994
Phone
(859) 455-8057Principal Officer
Elisa Cooley
Main Address
733 RED MILE RD, LEXINGTON, KY, 40504
NTEE Category
Code: L21 - Housing
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