Overview
What is Socayr Inc?
Socayr Inc is a nonprofit organization headquartered in Louisville, Kentucky (KY), specifically at 1244 S Fourth Street, zip code 40203. Their mission is dedicated to empowering affordable housing, as stated in their description. The organization has been established to foster this cause, as emphasized by their mission description repeated twice in the information.
What are the reviews and ratings of this charity?
Charity Navigator rating: 79%, Three-Star out of Four Star rating.
Socayr Inc has received a Three-Star rating, reflecting a solid overall performance in accountability and finance. The organization demonstrates strong governance practices with 100% independent board members and comprehensive financial oversight measures in place. Notably, the charity has a high program expense ratio of 95.14%, indicating that a significant portion of its funds is directed towards its programs rather than administrative costs.
However, there are some areas for improvement, particularly regarding its liabilities to assets ratio, which stands at 58.97%. While the charity maintains responsible financial practices, this ratio suggests a moderate level of liabilities that could impact financial stability. Overall, Socayr Inc shows a commitment to transparency and effective program delivery, though it should continue to monitor its financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Socayr Inc legitimate?
Socayr Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Socayr 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: $1,229,370
For more financial information, click here
What is the mission statement of Socayr Inc?
Socayr Inc is a non-profit organization with a mission to empower the community by facilitating the availability of affordable housing. The organization's primary goal is to make a difference in people's lives by fostering housing solutions that are accessible and affordable. This mission is carried out through various initiatives aimed at addressing the housing needs of individuals and families. Socayr Inc is dedicated to creating sustainable, long-term housing solutions that enable people to build a stable foundation for their future. Through its efforts, the organization seeks to improve the overall quality of life for those in need and contribute to the betterment of the community.
Who is the CEO of Socayr Inc?
Travis Yates is the President of Socayr Inc.
What is the revenue of Socayr Inc?
Socayr Inc's revenue in 2022 was $13,451,969.
Who are the executives of Socayr Inc and what are their salaries?
There 7 volunteers at Socayr Inc.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Socayr Inc?
Socayr Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Socayr Inc
Socayr Inc, an organization with a mission to foster the empowerment of affordable housing, was established with a clear vision in mind. This nonprofit organization is dedicated to making a difference in the lives of individuals and families by promoting affordable housing opportunities.
At its core, Socayr Inc believes that everyone deserves a safe and stable place to call home. By fostering the empowerment of affordable housing, the organization aims to provide a foundation for individuals and families to build stronger, more secure lives. This mission is not just about providing shelter, but also about creating communities where people can thrive.
Socayr Inc's work goes beyond simply providing affordable housing units. The organization is committed to empowering individuals and families to take control of their living situations and build a better future for themselves. By fostering a sense of community and providing resources and support, Socayr Inc helps to create an environment where people can feel secure and confident in their ability to succeed.
In summary, Socayr Inc is a forward-thinking organization that is dedicated to making a positive impact on the lives of individuals and families by promoting affordable housing opportunities and empowering people to take control of their living situations. Through its mission to foster the empowerment of affordable housing, Socayr Inc is helping to build stronger, more secure communities and create a better future for all.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Socayr Inc significantly impacts the community by promoting the empowerment of affordable housing. Based in Louisville, KY, the organization focuses on creating and enhancing opportunities for individuals and families to access safe and affordable living spaces. Through its efforts, Socayr Inc fosters a supportive environment that facilitates housing stability, thereby contributing to the overall well-being of the community. By advocating for affordable housing solutions, the organization helps to address critical housing challenges, ensuring that more people can secure a place they can call home. This approach not only improves individual lives but also strengthens community cohesion and economic resilience.
This information is meant to be a general summary of Socayr 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: $307,419
- Program Service Revenue: $12,177,975
- Gross Receipts: $13,761,199
Assets and Liabilities:
- Total Assets: $41,734,028
- Total Liabilities: $24,565,049
- Net Assets: $17,168,979
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEE REVENUE
Revenue
$9,072,728
RENTAL INCOME
Revenue
$3,105,247
Organization Details
Founding Year
2001
Phone
(502) 638-9600Principal Officer
Travis Yates
Main Address
1244 S FOURTH STREET, LOUISVILLE, KY, 40203
NTEE Category
Code: L21 - Housing
If you are a representative of Socayr Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.