Overview
What is Knox Housing Partnership Inc?
Knox Housing Partnership Inc, also known as HomeSource East Tennessee, is a nonprofit organization based in Knoxville, Tennessee. Their primary mission is to provide affordable housing solutions to low and moderate-income individuals in East Tennessee. They achieve this by offering first-time homebuyer education, assisting with second mortgage loans, downpayment, and closing costs. Additionally, they engage in new single-family housing construction and multiple-family housing development. The organization also manages apartment complexes specifically for low-income, elderly residents. Furthermore, they provide foreclosure counseling services to help individuals navigate through financial difficulties. With a team of 23 dedicated employees, Knox Housing Partnership Inc is committed to enhancing housing opportunities in the East Tennessee community.
Official website here: www.homesourcetn.org/
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 88%, Three-Star out of Four Star rating.
Knox Housing Partnership Inc has achieved a commendable score of 88%, reflecting strong performance in accountability and finance. This score indicates that the organization adheres to rigorous standards in financial management and reporting. Notably, the organization has a fully independent board, which enhances its governance, and demonstrates transparency through clear policies on conflicts of interest and whistleblower protections.
The nonprofit excels in program expenses, with an impressive program expense ratio of 84.90%, suggesting that a significant portion of its resources is directed towards its mission. The lack of material asset diversion and the presence of an audit and oversight committee further bolster confidence in its financial practices. However, the liabilities to assets ratio of 61.17% may indicate some level of financial risk that stakeholders should consider.
Overall, while Knox Housing Partnership Inc demonstrates strong accountability and effective governance, potential supporters should remain aware of its liabilities in relation to assets. This nonprofit's solid financial practices and commitment to transparency can inspire trust among donors and beneficiaries alike.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Knox Housing Partnership Inc?
98% of 26 reviewers on Facebook recommend Knox Housing Partnership Inc. Here is a summary of their reviews:
Much appreciation is expressed for the impactful work done by the organization, with individuals noting the significant difference that programs like Home Source make in the lives of community members. Reviewers highlight the compassionate and professional nature of the staff, showcasing a genuine passion for their mission.
Overall, the sentiment is overwhelmingly positive, with many recommending the charity not only for its effective services but also for the dedication of those involved. The organization seems to resonate deeply with people, reinforcing its reputation as a vital asset to the community it serves.
This AI summary has been generated from reviews found on Facebook.
Is Knox Housing Partnership Inc legitimate?
Knox Housing Partnership Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Knox Housing Partnership 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: $111,369
Professional Fundraising Fees: $0
Other Salaries and Wages: $982,840
For more financial information, click here
Official website here: www.homesourcetn.org/
What is the mission statement of Knox Housing Partnership Inc?
Knox Housing Partnership Inc's mission is centered around providing affordable housing solutions. They achieve this through various initiatives such as offering first-time homebuyer education, assisting with second mortgage loans, downpayment, and closing costs. The organization also engages in new single-family housing construction and multiple-family housing development. Furthermore, they provide foreclosure counseling to help individuals navigate challenging financial situations. In practice, Knox Housing Partnership Inc owns and rents single-family houses and multi-family properties to low-income families, as well as manages apartment complexes for low-income, elderly residents.
Official website here: www.homesourcetn.org/
Who is the CEO of Knox Housing Partnership Inc?
Jackie Mayo is the Board Member of Knox Housing Partnership Inc. The CEO's salary of Knox Housing Partnership Inc is $111,369 and their total compensation is $116,171.
Official website here: www.homesourcetn.org/
What is the revenue of Knox Housing Partnership Inc?
Knox Housing Partnership Inc's revenue in 2022 was $3,923,430.
Official website here: www.homesourcetn.org/
Who are the executives of Knox Housing Partnership Inc and what are their salaries?
The average compensation at Knox Housing Partnership Inc during 2022 was $47,574. There are 23 employees and 80 volunteers at Knox Housing Partnership Inc.
Here are 14 key members and their salaries (Knox Housing Partnership Inc's CEO's salary is $111,369 and their total compensation is $116,171):
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- Compensation: $111,369
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- Other: $4,802
Official website here: www.homesourcetn.org/
Where can I find the form 990 for Knox Housing Partnership Inc?
Knox Housing Partnership Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.homesourcetn.org/
Learn more at the official website: www.homesourcetn.org/
Mission Statement of Knox Housing Partnership Inc
Knox Housing Partnership Inc is dedicated to providing affordable housing solutions for individuals and families with low to moderate income. This nonprofit organization accomplishes this mission through a variety of initiatives. Firstly, Knox Housing Partnership offers first-time homebuyer education, assisting individuals with securing second mortgage loans, downpayments, and closing costs. This program aims to make homeownership more accessible for those who might otherwise struggle with these financial barriers.
Beyond homeownership, Knox Housing Partnership is also involved in new single-family housing construction and multiple-family housing development. By constructing and managing affordable housing units, the organization ensures that low-income families have access to safe and comfortable living spaces. Furthermore, Knox Housing Partnership provides foreclosure counseling to help families navigate the complexities of homeownership and avoid losing their homes due to financial distress.
In summarizing, Knox Housing Partnership Inc is a nonprofit organization focused on making affordable housing a reality for low and moderate income individuals and families. Through their various programs, they offer education, financial assistance, and housing solutions, from homeownership to new construction and foreclosure counseling. Their mission is to improve the lives of their community members by providing them with stable and secure housing options.
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Impact
July, 2024
Knox Housing Partnership Inc provides affordable housing options to low and moderate-income individuals in East Tennessee. Through first-time homebuyer education, assistance with mortgage loans, down payments, and closing costs, as well as new construction and foreclosure counseling, the organization helps individuals and families secure stable housing. By owning and renting single-family houses and multi-family properties, as well as managing apartment complexes for low-income and elderly residents, Knox Housing Partnership Inc makes a significant impact in addressing the housing needs of vulnerable populations in Knoxville, TN.
This information is meant to be a general summary of Knox Housing Partnership 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: $99,857
- Program Service Revenue: $2,500,240
- Gross Receipts: $4,006,759
Assets and Liabilities:
- Total Assets: $25,423,678
- Total Liabilities: $15,646,964
- Net Assets: $9,776,714
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL
Revenue
$2,199,404
HOUSING COUNSELING
Revenue
$189,830
HOUSING DEVELOPMENT
Revenue
$111,006
Organization Details
Founding Year
1990
Phone
(865) 637-1679Principal Officer
Jackie Mayo
Main Address
109 N WINONA STREET, KNOXVILLE, TN, 37917
Website
www.homesourcetn.org/NTEE Category
Code: L20Z - Housing
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