Overview
What is Lenoir City Housing & Community Development Corporation?
Lenoir City Housing & Community Development Corporation is a nonprofit organization situated in Lenoir City, Tennessee, specifically at 101 Oakwood Drive. Their primary mission is to offer subsidized housing options for individuals with low and moderate incomes, supporting the Lenoir City Housing Authority in this endeavor. They contribute to the local community by providing housing solutions for families who fall under the very low, low, and moderate income categories.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58%, One-Star out of Four Stars
Lenoir City Housing & Community Development Corporation has received a One-Star rating, primarily due to its accountability and finance measures. While it scored perfectly in several areas, such as having a 100% independent board and no material diversion of assets, the organization suffers from a concerning liabilities to assets ratio of 153.29%, which significantly impacts its overall score.
The strengths of the organization include full transparency in its operations, as indicated by its documentation of board meeting minutes and a program expense ratio of 100%. This suggests that all its expenses are directed toward its programs, reflecting a commitment to its mission. However, the high liabilities to assets ratio raises concerns about its financial health and sustainability.
In summary, while Lenoir City Housing & Community Development Corporation demonstrates strong governance and effective use of its funds, significant financial liabilities pose a risk that potential donors and stakeholders should consider. The organization will need to address its financial challenges to improve its overall standing and ensure long-term viability.
This AI summary has been generated from information found on Charity Navigator.
Is Lenoir City Housing & Community Development Corporation legitimate?
Lenoir City Housing & Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lenoir City Housing & Community 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:
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What is the mission statement of Lenoir City Housing & Community Development Corporation?
The Lenoir City Housing & Community Development Corporation is dedicated to providing subsidized housing for individuals with low and moderate income. This mission is carried out in support of the Lenoir City Housing Authority, which focuses on offering housing opportunities for very low, low, and moderate income families. The corporation's primary goal is to make housing more accessible for those who may not otherwise be able to afford it. By providing subsidized housing, the corporation aims to contribute to a more equitable living environment for these individuals. The organization's efforts are instrumental in supporting the housing needs of those in need, promoting inclusive and affordable housing options.
Who is the CEO of Lenoir City Housing & Community Development Corporation?
David Martin is the Director of Lenoir City Housing & Community Development Corporation.
What is the revenue of Lenoir City Housing & Community Development Corporation?
Lenoir City Housing & Community Development Corporation's revenue in 2022 was $188,237.
Who are the executives of Lenoir City Housing & Community Development Corporation and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Lenoir City Housing & Community Development Corporation?
Lenoir City Housing & Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lenoir City Housing & Community Development Corporation
Lenoir City Housing & Community Development Corporation is dedicated to providing subsidized housing solutions for individuals with low and moderate incomes. This organization plays a crucial role in supporting the Lenoir City Housing Authority, which in turn offers housing options for very low, low, and moderate income families. By offering subsidized housing, Lenoir City Housing & Community Development Corporation contributes to the overall well-being and stability of its community members, ensuring that everyone has access to a safe and comfortable living space.
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Impact
October, 2024
Lenoir City Housing & Community Development Corporation plays a crucial role in enhancing the quality of life for low and moderate-income individuals by providing subsidized housing solutions. By collaborating with the Lenoir City Housing Authority, the organization addresses the pressing need for affordable housing options within the community. This initiative supports families struggling with housing costs, promoting stability and security in their lives.
The corporation's efforts help alleviate homelessness and housing insecurity, enabling individuals and families to thrive without the constant burden of excessive rent. By facilitating access to safe and affordable housing, Lenoir City Housing & Community Development Corporation fosters a stronger, more inclusive community where all residents have the opportunity to succeed and improve their situation.
This information is meant to be a general summary of Lenoir City Housing & Community 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 2022.
- Program Service Revenue: $91,531
- Gross Receipts: $188,237
Assets and Liabilities:
- Total Assets: $667,502
- Total Liabilities: $960,991
- Net Assets: -$293,489
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RURAL RENTAL HOUSING
Revenue
$91,531
Organization Details
Founding Year
2000
Phone
(865) 986-8707Principal Officer
David Martin
Main Address
101 OAKWOOD DRIVE, LENOIR CITY, TN, 37771
NTEE Category
Code: L20 - Housing
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