Overview
What is Sweetwater Housing Development Inc?
Sweetwater Housing Development Inc is a nonprofit organization situated in Sweetwater, Tennessee. Their primary focus is on providing affordable housing solutions for elderly and handicapped individuals, falling under the low or moderate income bracket. The corporation acquires real estate through various means, such as purchase or lease, to develop and manage rental properties within the Sweetwater area. Their mission is to enhance the living conditions and improve the quality of life for this specific demographic, aiming to make housing a more accessible and comfortable experience. The organization currently has a small team of one dedicated individual.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 65% (Two-Star out of Four Star rating)
Sweetwater Housing Development Inc has received a 65% rating from Charity Navigator, indicating some strengths in its governance and finance practices, but also notable areas needing improvement. The organization boasts a fully independent board and adheres to a conflict of interest policy while maintaining transparency through documented board meeting minutes. However, the absence of a whistleblower policy and document retention policy raises concerns about its accountability and risk management practices.
On the financial front, Sweetwater Housing Development Inc shows a strong program expense ratio of 77.65%, which suggests that a significant portion of its budget is directed toward its mission-related activities. Nonetheless, the organization faces challenges with a liabilities to assets ratio of 99.02%, indicating potential financial strain and a heavy reliance on liabilities. This situation could affect its long-term sustainability and operational capacity.
Overall, while Sweetwater Housing Development Inc demonstrates a commitment to governance and directing funds toward programs, its financial health and risk management policies need improvement. Potential donors and stakeholders might want to consider these factors when assessing the nonprofit's overall stability and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Sweetwater Housing Development Inc legitimate?
Sweetwater Housing Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sweetwater Housing Development 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: $50,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Sweetwater Housing Development Inc?
Sweetwater Housing Development Inc is established with the mission to acquire suitable real estate for developing and managing rental housing. This housing is intended for the elderly and individuals with disabilities or handicaps who fall within the low or moderate income bracket, serving this particular community effectively. The corporation's primary objective is to provide affordable housing options, thereby enhancing their living standards. Through the acquisition, development, and management of these properties, the organization aims to contribute positively to the well-being and independence of these individuals.
Who is the CEO of Sweetwater Housing Development Inc?
Debbie Exum is the President of Sweetwater Housing Development Inc.
What is the revenue of Sweetwater Housing Development Inc?
Sweetwater Housing Development Inc's revenue in 2022 was $129,402.
Who are the executives of Sweetwater Housing Development Inc and what are their salaries?
The average compensation at Sweetwater Housing Development Inc during 2022 was $50,000. There is 1 employee at Sweetwater Housing Development Inc.
Here are 7 key members and their salaries:
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- Compensation: $50,000
- Related: $0
- Other: $0
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Where can I find the form 990 for Sweetwater Housing Development Inc?
Sweetwater Housing Development Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Sweetwater Housing Development Inc
Sweetwater Housing Development Inc is a corporation with a mission to provide housing solutions for the elderly and individuals with disabilities or handicaps who fall under low or moderate income levels. This organization is committed to acquiring property through various means, such as option, lease, or purchase, to develop and manage rental housing within their area of operation. The primary goal of Sweetwater Housing Development Inc is to cater to this specific demographic, ensuring they have access to safe, suitable, and affordable housing options. By doing so, the corporation plays a crucial role in enhancing the quality of life for these individuals, providing them with a sense of security and independence.
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Impact
October, 2024
Sweetwater Housing Development Inc significantly impacts the community by providing affordable rental housing options specifically designed for the elderly and individuals with disabilities of low to moderate income in Sweetwater, Tennessee. By acquiring and managing real estate, the organization addresses the critical need for accessible housing, ensuring that vulnerable populations have a safe and stable living environment.
The development and management of these housing facilities not only enhance the quality of life for residents but also promote community well-being by allowing elderly and disabled individuals to remain within their hometown. This fosters social inclusion and reduces the risk of isolation among these groups. Additionally, by focusing on affordable housing, Sweetwater Housing Development Inc contributes to economic stability within the community, enabling residents to allocate their limited resources toward other essential needs such as healthcare and daily living expenses. Overall, the organization plays a vital role in fostering a supportive and inclusive community for some of its most marginalized members.
This information is meant to be a general summary of Sweetwater Housing Development 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: $160
- Program Service Revenue: $107,260
- Gross Receipts: $129,402
Assets and Liabilities:
- Total Assets: $428,726
- Total Liabilities: $421,751
- Net Assets: $6,975
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$93,655
TENANT CHARGES
Revenue
$11,586
LAUNDRY/VENDING
Revenue
$2,019
Organization Details
Founding Year
1974
Phone
(423) 337-7471Principal Officer
Debbie Exum
Main Address
PO BOX 690, SWEETWATER, TN, 378740690
NTEE Category
Code: L22 - Housing
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