Overview
What is Mississippi Housing Development Cor?
Mississippi Housing Development Cor, located in Fayette, Mississippi, is a dedicated nonprofit organization. Their primary mission is to provide quality, affordable housing to low-income individuals and families, offering them a subsidized living arrangement. Through their activities, they have successfully provided 88 units of housing, making a significant impact on the community. This nonprofit is committed to enhancing the living standards of those in need, contributing to a more equitable housing landscape in Mississippi.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two Stars (64%)
The Mississippi Housing Development Corporation has received a two-star rating from Charity Navigator, indicating a "Needs Improvement" status. The organization shows strong performance in accountability and finance, scoring 100% in this category, which reflects a solid governance structure, including a fully independent board. However, the lack of financial statements and a missing website listed on their tax form significantly impact their overall score.
While the organization maintains a commendable program expense ratio of 96.51%, suggesting that most of its funds are directed towards its mission, several areas require attention. The liabilities to assets ratio of 98.16% raises concerns about financial stability. Moreover, the absence of publicly available financial documents such as tax forms limits transparency and could hinder potential donors' trust.
In summary, while the Mississippi Housing Development Corporation demonstrates strengths in governance and program allocation, it faces challenges in financial transparency and stability. Addressing these issues could enhance its credibility and effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Mississippi Housing Development Cor legitimate?
Mississippi Housing Development Cor is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mississippi Housing Development Cor 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: $0
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What is the mission statement of Mississippi Housing Development Cor?
Mississippi Housing Development Corporation is committed to providing affordable housing solutions for low-income individuals and families. They achieve this by offering rental units at subsidized rates, ensuring that a substantial number of households can secure quality housing within their means. As of recent data, they have successfully provided 88 such units, contributing to the housing needs of this demographic.
Who is the CEO of Mississippi Housing Development Cor?
Rogers King is the Chief Operating Officer of Mississippi Housing Development Cor.
What is the revenue of Mississippi Housing Development Cor?
Mississippi Housing Development Cor's revenue in 2020 was $622,797.
Who are the executives of Mississippi Housing Development Cor 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 Mississippi Housing Development Cor?
Mississippi Housing Development Cor's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Mississippi Housing Development Cor
Mississippi Housing Development Corporation, abbreviated as MHDC, is committed to providing quality and affordable housing solutions for low-income individuals and families. Their mission is accomplished by offering rental units at a subsidized rate. This nonprofit organization strives to make a significant impact in the lives of those in need, ensuring they have a roof over their heads without straining their financial resources excessively. Consequently, MHDC has provided 88 units of such housing, making a tangible difference in the lives of many families and individuals.
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Impact
July, 2024
Mississippi Housing Development Cor has a significant impact on the community by providing 88 units of quality affordable housing to low-income individuals and families in Fayette, MS. Their mission is to offer rental units at a subsidized rate, ensuring that those in need have access to safe and stable housing. Through their efforts, they are addressing the critical issue of affordable housing in the area, supporting vulnerable populations and contributing to a more inclusive and equitable society.
This information is meant to be a general summary of Mississippi Housing Development Cor. 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 2020.
- Investment Income: $80
- Program Service Revenue: $618,784
- Gross Receipts: $622,797
Assets and Liabilities:
- Total Assets: $2,655,684
- Total Liabilities: $2,606,952
- Net Assets: $48,732
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$618,784
Organization Details
Founding Year
1988
Principal Officer
Rogers King
Main Address
PO BOX 730, Fayette, MS, 39069
NTEE Category
Code: L20 - Housing
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