Overview
What is East Tennessee Housing Development Corporation?
The East Tennessee Housing Development Corporation, located in Knoxville, Tennessee, serves as a Community Housing Development Organization (CHDO). Their primary mission is to provide quality, energy-efficient homes for low-income residents, subsidized by the Home Investment Partnerships Program from HUD. Through the program, they have purchased and renovated homes, subsequently transferring these renovated properties to eligible low-income homebuyers. Furthermore, the organization offers affordable housing rentals for low-income residents, contributing to the community's overall housing needs. With a team of just two dedicated individuals, East Tennessee Housing Development Corporation is committed to enhancing living standards for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Stars)
The East Tennessee Housing Development Corporation has received a solid Three-Star rating from Charity Navigator, indicating a strong commitment to accountability and financial health. The organization scored 86% overall, based entirely on its Accountability & Finance metrics, showcasing its transparency and effective management of resources.
One of the notable strengths of the organization is its governance structure, with 100% of its board members being independent. This aligns with best practices for nonprofit management, ensuring that decisions are made in the best interest of the organization and its mission. Additionally, the corporation has demonstrated exceptional financial practices, including an impressive program expense ratio of 97.38%, which suggests that a significant portion of its funds is directed toward its programs rather than administrative costs.
While the organization has performed well in various financial indicators, such as having no material diversion of assets and a healthy liabilities to assets ratio of 46.27%, the rating does not reflect other potential areas of impact, like program effectiveness or community feedback. Overall, the East Tennessee Housing Development Corporation appears to be financially sound and well-governed, making it a trustworthy choice for donors seeking to support housing development initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is East Tennessee Housing Development Corporation legitimate?
East Tennessee Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. East Tennessee 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $198,160
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What is the mission statement of East Tennessee Housing Development Corporation?
The East Tennessee Housing Development Corporation, functioning as a Community Housing Development Organization (CHDO), is dedicated to providing high-quality, energy-efficient homes for low-income residents. These homes are subsidized through the Home Investment Partnerships Program, a part of the U.S. Department of Housing and Urban Development (HUD). The corporation has a mission to purchase and renovate homes, ultimately transferring these energy-efficient properties to eligible low-income homebuyers. Furthermore, the corporation offers affordable housing rentals for low-income residents, contributing to the betterment of their living conditions.
Who is the CEO of East Tennessee Housing Development Corporation?
James Swink is the Chairman of East Tennessee Housing Development Corporation.
What is the revenue of East Tennessee Housing Development Corporation?
East Tennessee Housing Development Corporation's revenue in 2023 was $995,790.
Who are the executives of East Tennessee Housing Development Corporation and what are their salaries?
The average compensation at East Tennessee Housing Development Corporation during 2023 was $99,080. There are 2 employees at East Tennessee Housing Development Corporation.
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Where can I find the form 990 for East Tennessee Housing Development Corporation?
East Tennessee Housing Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of East Tennessee Housing Development Corporation
East Tennessee Housing Development Corporation, as a Community Housing Development Corporation, is dedicated to providing high-quality, energy-efficient homes for individuals with low income. This mission is supported by subsidies from the U.S. Department of Housing and Urban Development (HUD) through the Home Investment Partnerships Program. The corporation has served as a Community Housing Development Organization (CHDO), purchasing and renovating homes, resulting in the transfer of renovated, energy-efficient homes to eligible low-income homebuyers. Additionally, East Tennessee Housing Development Corporation provides affordable housing rentals for low-income residents, contributing to the overall improvement of housing conditions in the community.
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Impact
July, 2024
East Tennessee Housing Development Corporation has made a significant impact by providing quality, energy-efficient homes for low-income residents in Knoxville, TN. Through their work as a Community Housing Development Organization (CHDO), they have purchased and renovated homes, resulting in the transfer of renovated, energy-efficient homes to low-income homebuyers who meet the qualifications under the Home Investment Partnerships Program. Additionally, they have provided affordable housing rentals for low-income residents. Overall, their efforts have helped address the need for affordable housing in the community and have improved the living conditions for those in need.
This information is meant to be a general summary of East Tennessee 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: $1,924
- Program Service Revenue: $540,000
- Gross Receipts: $1,002,541
Assets and Liabilities:
- Total Assets: $1,173,893
- Total Liabilities: $543,243
- Net Assets: $630,650
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES OF HOUSES
Revenue
$540,000
Organization Details
Founding Year
1991
Phone
(865) 525-9945Principal Officer
James Swink
Main Address
10414 JACKSON OAKS WAY, KNOXVILLE, TN, 37922
NTEE Category
Code: L80 - Housing
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