Overview
What is Bessemer Non-Profit Development Corporat Ion?
The Bessemer Non-Profit Development Corporation is an affiliated entity to the Bessemer Housing Authority. Its primary focus is on low-income housing. The corporation receives financial support in the form of salaries, which are then reimbursed by the Authority. It should be noted that none of the salaries surpass $50,000. The organization's mission aligns with the Bessemer Housing Authority, providing housing solutions for individuals with lower incomes.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Three-Star out of Four Stars (75%)
The Bessemer Non-Profit Development Corporation has achieved a Three-Star rating from Charity Navigator, reflecting a solid performance with a score of 75%. This rating is derived entirely from their Accountability & Finance metrics, indicating a strong commitment to financial transparency and responsible management practices.
Significant strengths include a fully independent board of directors, evidenced by 100% independent members and a small board size of three members, all contributing to effective governance. Their financial oversight is further bolstered by a comprehensive audit and oversight committee, and they scored a perfect 10 for having no material diversion of assets.
However, the organization faced a challenge in its liabilities to assets ratio, which received no points. This suggests that while their program expenses are high (89.24% directed towards programs), they may have issues with financial leverage that could affect long-term sustainability. Overall, the Bessemer Non-Profit Development Corporation demonstrates strong accountability practices, though attention may be needed regarding financial liabilities.
This AI summary has been generated from information found on Charity Navigator.
Is Bessemer Non-Profit Development Corporat Ion legitimate?
Bessemer Non-Profit Development Corporat Ion is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bessemer Non-Profit Development Corporat Ion 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: $126,303
For more financial information, click here
What is the mission statement of Bessemer Non-Profit Development Corporat Ion?
The Bessemer Non-Profit Development Corporation, being related to the Bessemer Housing Authority, focuses on providing low-income housing solutions. Although the provided information does not explicitly detail a mission statement, it can be inferred that their mission is to contribute to the provision of affordable housing for individuals with limited financial resources. The corporation operates under the oversight of the Bessemer Housing Authority, with salaries being paid from the Authority and then charged back to the Non-profit, ensuring that no salary exceeds $50,000. This collaboration between the two entities aims to address the housing needs of a specific segment of the population.
Who is the CEO of Bessemer Non-Profit Development Corporat Ion?
Cortney Coleman is the Officer of Bessemer Non-Profit Development Corporat Ion.
What is the revenue of Bessemer Non-Profit Development Corporat Ion?
Bessemer Non-Profit Development Corporat Ion's revenue in 2021 was $1,086,684.
Who are the executives of Bessemer Non-Profit Development Corporat Ion and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Bessemer Non-Profit Development Corporat Ion?
Bessemer Non-Profit Development Corporat Ion's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Bessemer Non-Profit Development Corporat Ion
The Bessemer Non-Profit Development Corporation, related to the Bessemer Housing Authority, is dedicated to providing low-income housing. As a related entity, the corporation receives salaries from the Authority, which are subsequently charged back. The organization's mission revolves around low-income housing, supporting the community by providing necessary accommodations for those in need. The corporation's role is closely tied to the Bessemer Housing Authority, working together to ensure affordable housing opportunities for its constituents.
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Impact
July, 2024
Bessemer Non-Profit Development Corporation has a significant impact on providing low-income housing in Bessemer, Alabama. As a related entity to the Bessemer Housing Authority, the corporation plays a crucial role in addressing the housing needs of low-income individuals and families in the city. By managing and facilitating low-income housing projects, the corporation contributes to improving the living conditions and ensuring affordable housing opportunities for those in need. This directly aligns with their mission of providing low-income housing and underscores their commitment to serving the community.
This information is meant to be a general summary of Bessemer Non-Profit Development Corporat Ion. 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 2021.
- Investment Income: $12
- Program Service Revenue: $399,414
- Gross Receipts: $1,086,684
Assets and Liabilities:
- Total Assets: $2,871,332
- Total Liabilities: $2,227,693
- Net Assets: $643,639
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$399,414
Organization Details
Founding Year
1981
Phone
(205) 481-4420Principal Officer
Cortney Coleman
Main Address
PO BOX 1390, BESSEMER, AL, 35020
NTEE Category
Code: L21 - Housing
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