Overview
What is Cumberland Regional Development Corporation?
Cumberland Regional Development Corporation is a nonprofit organization situated in Cookeville, Tennessee, specifically at 1104 England Drive, 38501. Their primary mission is to construct and manage affordable housing complexes for the elderly and disabled, as well as provide housing assistance to low-income and homeless individuals in the Upper Cumberland District. They accomplish this by utilizing various federal and state subsidies, such as HUD 202 loans and grants, THDA rental assistance, and Rural Development Section 515 loans. As of now, they are offering 291 affordable housing units to individuals in need.
Official website here: www.ucdd.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Cumberland Regional Development Corporation has received an overall score of 81%, which translates to a Three-Star rating, reflecting a solid level of accountability and financial health. The rating is derived entirely from the Accountability & Finance beacon, indicating the organization’s strong performance in these areas. Key strengths include a majority independent board, with all board members being independent, and excellent financial statements, evidenced by a clean audit.
The organization shows commendable financial management, with a high program expense ratio of 92.20%, suggesting that a significant portion of its funds directly supports its mission. However, some areas of concern have been noted, particularly the absence of essential policies such as a conflict of interest policy, a whistleblower policy, and a document retention policy, which could impact transparency and governance.
Despite these limitations, Cumberland Regional Development Corporation demonstrates a commitment to maintaining a well-managed financial structure, as indicated by its effective use of assets and resources. Stakeholders and potential donors may find the organization’s strengths in accountability appealing, even as they consider the areas needing improvement for comprehensive governance practices.
This AI summary has been generated from information found on Charity Navigator.
Is Cumberland Regional Development Corporation legitimate?
Cumberland Regional Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cumberland Regional 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: $0
For more financial information, click here
Official website here: www.ucdd.org/
What is the mission statement of Cumberland Regional Development Corporation?
The Cumberland Regional Development Corporation was established with a mission to construct and manage affordable housing for the disabled and elderly in a specific district. Beyond this, the organization also provides housing assistance to low-income and homeless individuals within the same district. The corporation owns and operates various housing properties and complexes, offering accommodation to numerous low-income individuals. The housing programs are funded through various subsidies such as HUD 202 loans and grants, THDA rental assistance, and Rural Development Section 515 loans. Under these programs, the corporation is currently providing 291 affordable housing units.
Official website here: www.ucdd.org/
Who is the CEO of Cumberland Regional Development Corporation?
Marvin Lusk is the President of Cumberland Regional Development Corporation.
Official website here: www.ucdd.org/
What is the revenue of Cumberland Regional Development Corporation?
Cumberland Regional Development Corporation's revenue in 2023 was $1,177,501.
Official website here: www.ucdd.org/
Who are the executives of Cumberland Regional Development Corporation and what are their salaries?
There 6 volunteers at Cumberland Regional Development Corporation.
Here are 6 key members and their salaries:
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Official website here: www.ucdd.org/
Where can I find the form 990 for Cumberland Regional Development Corporation?
Cumberland Regional Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.ucdd.org/
Learn more at the official website: www.ucdd.org/
Mission Statement of Cumberland Regional Development Corporation
Cumberland Regional Development Corporation, a nonprofit organization, was established with a purpose to construct and operate affordable housing units for the elderly and disabled individuals in the Upper Cumberland District. Beyond this primary mission, the corporation also extends its assistance to low-income and homeless individuals in the same district. By leveraging various federal and state subsidies such as HUD 202 loans and grants, Thda Rental Assistance, and Rural Development Section 515 loans, the organization manages and operates numerous housing properties and complexes, providing a total of 291 affordable housing units for the targeted population. Through these initiatives, Cumberland Regional Development Corporation plays a crucial role in addressing housing inequalities and ensuring that vulnerable individuals have access to safe and affordable living spaces.
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Impact
July, 2024
Cumberland Regional Development Corporation's impact is significant in providing affordable housing to low-income individuals in the Upper Cumberland District. The organization owns, operates, and manages various housing properties and complexes, offering a total of 291 affordable housing units. Through various federal and state subsidies such as HUD 202 loans and grants, THDA rental assistance, and Rural Development Section 515 loans, Cumberland Regional Development Corporation plays a key role in addressing the housing needs of the disabled, elderly, low-income, and homeless population in Cookeville, TN, and the surrounding areas.
This information is meant to be a general summary of Cumberland Regional 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: -$163,031
- Program Service Revenue: $1,144,741
- Gross Receipts: $1,340,605
Assets and Liabilities:
- Total Assets: $8,287,444
- Total Liabilities: $4,485,180
- Net Assets: $3,802,264
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ELDERLY & DISABLED RENT
Revenue
$599,283
MANAGEMENT FEES
Revenue
$545,458
Organization Details
Founding Year
1996
Phone
(931) 432-4111Principal Officer
Marvin Lusk
Main Address
1104 ENGLAND DRIVE, COOKEVILLE, TN, 38501
Website
www.ucdd.org/NTEE Category
Code: L20 - Housing
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