Overview
What is Decatur Housing Development Corporation?
Decatur Housing Development Corporation, situated in Decatur, Alabama, is a dedicated nonprofit organization that focuses on housing development and management. Their primary objective is to cater to the housing needs of individuals with limited income. By offering low-income housing options, this nonprofit aims to contribute positively to the local community by ensuring that everyone has access to a suitable living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
The Decatur Housing Development Corporation has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. Their overall score is based entirely on their Accountability & Finance metrics, where they achieved an impressive score of 82%. A strong emphasis on financial integrity is evidenced by their perfect scores in independent board member composition and financial audits.
The organization boasts a fully independent board with eight members, and they maintain a low liabilities-to-assets ratio of just 4.13%. Additionally, they have demonstrated a commitment to transparency by documenting board meeting minutes and showing no diversion of assets. Their program expense ratio of 71.45% suggests that a significant majority of their expenses are directed toward their mission-related activities.
While the rating highlights several strengths, it is important to note that the overall score is solely based on financial metrics and does not reflect programmatic effectiveness or impact. Potential donors might want to consider looking into other factors such as community feedback and outcomes to gain a fuller picture of the organization's performance.
This AI summary has been generated from information found on Charity Navigator.
Is Decatur Housing Development Corporation legitimate?
Decatur Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Decatur 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: $65,807
For more financial information, click here
What is the mission statement of Decatur Housing Development Corporation?
The Decatur Housing Development Corporation is a nonprofit organization dedicated to delivering housing solutions for individuals with limited financial resources. Their primary mission is to provide low-income housing, aiming to make a significant impact in the lives of those in need. By offering housing solutions, the corporation contributes to a more equitable community, ensuring that everyone has access to a secure living space. The organization's activities are geared towards addressing the housing needs of low-income individuals, thereby enhancing their overall quality of life.
Who is the CEO of Decatur Housing Development Corporation?
Miles Wright is the President (End Feb 2022) of Decatur Housing Development Corporation.
What is the revenue of Decatur Housing Development Corporation?
Decatur Housing Development Corporation's revenue in 2022 was $550,718.
Who are the executives of Decatur Housing Development Corporation and what are their salaries?
There 7 volunteers at Decatur Housing Development Corporation.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Decatur Housing Development Corporation?
Decatur Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Decatur Housing Development Corporation
Decatur Housing Development Corporation, as a nonprofit organization, is committed to providing low-income housing. Their mission, in simple terms, is to make a significant impact on the community by offering housing solutions to individuals who fall under the low-income bracket. This mission is not just about constructing or managing buildings, but it encompasses a broader scope of ensuring that everyone has access to a decent living space, regardless of their financial situation. By focusing on low-income housing, Decatur Housing Development Corporation contributes to the overall well-being of its community, providing a fundamental need that many individuals may struggle to secure on their own.
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Impact
July, 2024
Decatur Housing Development Corporation plays a crucial role in providing low-income housing in Decatur, Alabama. Through its mission to ensure affordable housing options for those in need, this organization has a significant impact on the community by addressing housing insecurity and improving the quality of life for individuals and families facing financial challenges. Decatur Housing Development Corporation's efforts contribute to creating a more stable and supportive environment for low-income residents, ultimately helping them thrive and break the cycle of poverty.
This information is meant to be a general summary of Decatur 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 2022.
- Investment Income: $75,133
- Program Service Revenue: $452,941
- Gross Receipts: $634,070
Assets and Liabilities:
- Total Assets: $4,219,133
- Total Liabilities: $187,014
- Net Assets: $4,032,119
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$452,941
Organization Details
Founding Year
1982
Phone
(256) 353-4691Principal Officer
Miles Wright
Main Address
PO BOX 878, DECATUR, AL, 35602
NTEE Category
Code: L20Z - Housing
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