Overview
What is Tennessee Community Assistance Corporation?
Tennessee Community Assistance Corporation, located in Morristown, Tennessee, is a nonprofit organization committed to promoting economic development and aiding low-income communities, particularly public housing residents. Their mission is to assist these residents in becoming self-sufficient while providing essential services that enhance their quality of life. The organization administers The Home Program, a competitive grant program funded by HUD, which provides repairs for eligible low-income homeowners. The repairs are carried out by licensed contractors, and the homeowners receive a 5-15 year forgivable grant note, as long as they remain in their homes during the term. With a workforce of 67 employees, Tennessee Community Assistance Corporation strives to improve living conditions and self-sufficiency in low-income communities across Tennessee.
Official website here: www.tcac1.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
The Tennessee Community Assistance Corporation has received a solid rating of 88%, reflecting strong performance in accountability and finance. The rating is based entirely on one score, indicating that the organization excels in its financial practices and governance, earning full points in areas like independent board membership and financial audits. This demonstrates a commitment to transparency and responsible management of resources.
Notably, the organization has a fully independent board and a high program expense ratio of 96.81%, which suggests that most of its funds are devoted to its mission rather than administrative costs. The absence of any material diversion of assets further enhances its reputation for financial integrity. However, it's worth mentioning that the organization lacks certain policies, such as a whistleblower policy and a document retention and destruction policy, which could be areas for improvement in its governance practices.
Overall, Tennessee Community Assistance Corporation shows a strong commitment to accountability and effective use of resources, making it a reliable choice for donors looking to support community assistance initiatives. The identified weaknesses in policy documentation should be addressed to further bolster its governance standards.
This AI summary has been generated from information found on Charity Navigator.
Is Tennessee Community Assistance Corporation legitimate?
Tennessee Community Assistance Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tennessee Community Assistance 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: $55,686
Professional Fundraising Fees: $0
Other Salaries and Wages: $664,807
For more financial information, click here
Official website here: www.tcac1.org
What is the mission statement of Tennessee Community Assistance Corporation?
Tennessee Community Assistance Corporation's mission is centered around promoting economic development and carrying out activities in low-income communities across Tennessee, with a focus on public housing residents. The organization's primary objective is to assist these residents in becoming self-sufficient and enhance their quality of life by providing necessary services. This is achieved through various activities designed to empower and support the residents.
In addition to its mission, Tennessee Community Assistance Corporation also administers a home repair program, funded competitively by HUD. This program is designed to assist low-income homeowners in Tennessee by providing them with necessary repairs. The work is carried out by licensed contractors, and eligible homeowners receive a forgivable grant note, ranging from 5 to 15 years, as long as they continue to reside in their home during the term. This program aims to improve the living conditions of the homeowners, thereby contributing to their overall well-being.
Official website here: www.tcac1.org
Who is the CEO of Tennessee Community Assistance Corporation?
Krystal Gibbons is the Outgoing Exe of Tennessee Community Assistance Corporation.
Official website here: www.tcac1.org
What is the revenue of Tennessee Community Assistance Corporation?
Tennessee Community Assistance Corporation's revenue in 2022 was $1,003,336.
Official website here: www.tcac1.org
Who are the executives of Tennessee Community Assistance Corporation and what are their salaries?
The average compensation at Tennessee Community Assistance Corporation during 2022 was $10,754. There are 67 employees and 256 volunteers at Tennessee Community Assistance Corporation.
Here are 11 key members and their salaries:
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Official website here: www.tcac1.org
Where can I find the form 990 for Tennessee Community Assistance Corporation?
Tennessee Community Assistance Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tcac1.org
Learn more at the official website: www.tcac1.org
Mission Statement of Tennessee Community Assistance Corporation
Tennessee Community Assistance Corporation, in its mission, aims to foster economic development and engage in activities within low-income communities across Tennessee, with a particular focus on public housing residents. The organization's objective is to assist these residents in becoming self-sufficient and improve their quality of life by providing necessary services. This nonprofit organization strives to make a significant impact in these communities by offering support that empowers individuals and families to achieve self-sufficiency.
The Home Program is one of the initiatives undertaken by Tennessee Community Assistance Corporation. This program, funded competitively by the U.S. Department of Housing and Urban Development (HUD), is administered within Tennessee by the Tennessee Housing Development Agency. The Home Program targets low-income homeowners who meet specific eligibility criteria, including being primary residents of their property and owning the property. These eligible homeowners receive necessary repairs, with the work performed by licensed contractors. As a token of appreciation, homeowners receive a 5-15 year forgivable grant note, with the condition that they remain in their homes during the term of the note. This program is just one example of Tennessee Community Assistance Corporation's commitment to improving the lives of those in low-income communities and helping them become self-sufficient.
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Impact
July, 2024
Tennessee Community Assistance Corporation has a significant impact on low-income communities in Tennessee, particularly those residing in public assisted housing. By promoting economic development and providing essential services, the organization plays a crucial role in helping residents become self-sufficient and improving their overall quality of life. Through initiatives like the HOME Program, which offers repair grants to low-income homeowners, Tennessee Community Assistance Corporation is directly contributing to the wellbeing and stability of individuals and families in need. Overall, their efforts are instrumental in uplifting and empowering communities across the state.
This information is meant to be a general summary of Tennessee Community Assistance 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 2022.
- Investment Income: $122,474
- Program Service Revenue: $437,280
- Gross Receipts: $1,404,999
Assets and Liabilities:
- Total Assets: $2,336,308
- Total Liabilities: $637,741
- Net Assets: $1,698,567
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MERCHANDISE SALES - DEPOT
Revenue
$233,728
CC MEMBER PAYMENT
Revenue
$163,748
ENTERPRISE 2021
Revenue
$24,144
DONATION SALES
Revenue
$11,784
AMERICORP INVOICES
Revenue
$3,062
Organization Details
Founding Year
1999
Phone
(423) 586-7636Principal Officer
Krystal Gibbons
Main Address
740 E MAIN ST, MORRISTOWN, TN, 37814
Website
www.tcac1.orgNTEE Category
Code: S20 - Community improvement
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