Overview
What is Mlk Avenue Redevelopment Corp?
Mlk Avenue Redevelopment Corp is a nonprofit organization dedicated to enriching the MLK community and its residents. Their primary focus is on community redevelopment, which involves purchasing vacant lots and dilapidated structures to construct new affordable homes for sale to qualified low to moderate income individuals. This initiative is funded through the chdo grant program. Additionally, the organization facilitates a lease program, providing housing solutions for those in need. The board and executive director oversee various programs, all working towards their mission of improving the MLK community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement, 73%, Two-Star out of Four Star rating.
Mlk Avenue Redevelopment Corp has received a rating of "Needs Improvement" from Charity Navigator, highlighting areas where the organization excels and where it falls short. The nonprofit demonstrates strong accountability and finance practices, achieving a perfect score of 100% in this category, which reflects effective governance and management of resources. Additionally, the organization boasts an independent board with a full score in that area, indicating good oversight.
However, the organization has significant weaknesses in transparency and policy implementation, receiving low scores in key areas such as its conflict of interest policy and whistleblower policy, both scoring zero. This lack of foundational policies raises concerns about internal controls and ethical practices. Furthermore, the nonprofit's website is not fully utilized, as evidenced by the absence of critical documents like its tax form, which could affect public trust and engagement. Overall, while Mlk Avenue Redevelopment Corp shows strong financial management, its lack of transparency and certain governance practices warrant attention and improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Mlk Avenue Redevelopment Corp legitimate?
Mlk Avenue Redevelopment Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mlk Avenue Redevelopment Corp 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: $90,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Mlk Avenue Redevelopment Corp?
The Mlk Avenue Redevelopment Corporation is dedicated to community redevelopment with the goal of improving the MLK community and the lives of its residents. Beyond their affordable homes program, which involves purchasing and constructing new properties for qualified low to moderate income individuals, they also facilitate a lease program. Their mission encompasses enhancing the community by determining and implementing various programs that work in harmony with their primary objective.
Who is the CEO of Mlk Avenue Redevelopment Corp?
Daphne Pierce is the Executive Di of Mlk Avenue Redevelopment Corp.
What is the revenue of Mlk Avenue Redevelopment Corp?
Mlk Avenue Redevelopment Corp's revenue in 2022 was $29,911.
Who are the executives of Mlk Avenue Redevelopment Corp and what are their salaries?
The average compensation at Mlk Avenue Redevelopment Corp during 2022 was $90,000. There is 1 employee and 4 volunteers at Mlk Avenue Redevelopment Corp.
Here are 5 key members and their salaries:
- Compensation: $90,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- 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 Mlk Avenue Redevelopment Corp?
Mlk Avenue Redevelopment Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mlk Avenue Redevelopment Corp
Mlk Avenue Redevelopment Corp is committed to community redevelopment with the aim of enriching the lives of its residents in the MLK area. The organization's mission is twofold, involving both the purchase of vacant lots and dilapidated structures, which are then transformed into affordable homes for qualifying low to moderate income individuals via the CHDO grant program. Additionally, Mlk Avenue Redevelopment Corp manages a lease program, offering housing solutions beyond home ownership. By engaging in these initiatives, the corporation seeks to positively impact the MLK community, enhancing the living conditions and opportunities for its residents.
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Impact
August, 2024
Mlk Avenue Redevelopment Corp's impact can be seen in the revitalization of the MLK community in Mobile, AL. Through their community redevelopment efforts, they have enhanced the living conditions of residents by constructing new affordable homes on previously vacant lots and dilapidated structures. This initiative provides low to moderate income individuals with the opportunity to own homes and improve their quality of life. Additionally, their lease program offers further support to the community members in need. Overall, Mlk Avenue Redevelopment Corp's work contributes to the improvement and enrichment of the MLK community, making a tangible difference in the lives of its residents.
This information is meant to be a general summary of Mlk Avenue Redevelopment Corp. 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: $29,911
- Gross Receipts: $29,911
Assets and Liabilities:
- Total Assets: $1,037,064
- Total Liabilities: $50,935
- Net Assets: $986,129
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$26,970
MANAGEMENT FEE INCOME
Revenue
$2,496
CREDIT REPORT FEES
Revenue
$445
Organization Details
Founding Year
1993
Phone
(251) 432-3073Principal Officer
Daphne Pierce
Main Address
PO BOX 2204, MOBILE, AL, 366522204
NTEE Category
Code: S310 - Community improvement
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