Overview
What is Iona House Corporation?
Iona House Corporation is a nonprofit organization based in Bonita Springs, Florida, with a 30-year history of providing affordable rental housing to low-income families. Their approach is characterized by accountability, aiming to help families transition towards self-sufficiency. The organization encourages tenants to work towards independence by implementing an annual rent increase system that contributes to a savings program. This program is disbursed to tenants upon the conclusion of their tenancy, enabling them to make a down payment for homeownership or afford market-rate rents. Iona House Corporation's mission is to assist families in moving out of subsidized housing and into the mainstream housing market.
Official website here: www.ionahousecorp.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93% (Four-Star out of Four Stars)
Iona House Corporation has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The charity's overall score is entirely derived from its high accountability and finance score of 93%, indicating a robust financial health and operational transparency. This rating is significant as it showcases the organization's commitment to effective financial management and governance.
Strengths of Iona House Corporation include its fully independent board, which consists of seven members, and its excellent performance across various accountability metrics. The organization received top marks for having no material diversion of assets, a clear conflict of interest policy, and well-documented board meeting minutes. Additionally, it maintains an impressive program expense ratio of 98.89%, demonstrating that the majority of its resources are directed toward its mission and programs.
While Iona House Corporation has excelled in many areas, it is noted that it does not have a whistleblower policy in place, which could be seen as a limitation in its governance practices. Nonetheless, the overall financial stability and high level of accountability make Iona House Corporation a trustworthy nonprofit within its sector.
This AI summary has been generated from information found on Charity Navigator.
Is Iona House Corporation legitimate?
Iona House Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Iona House 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: $0
For more financial information, click here
Official website here: www.ionahousecorp.com
What is the mission statement of Iona House Corporation?
Iona House Corporation's mission is centered around helping families transition from subsidized housing to the market. This is achieved through an accountability-driven model, where annual rent increases are saved by the tenants for future use. Upon the end of their tenancy, the saved funds can be utilized for a home purchase down payment or to afford market-rate rents. The corporation has been providing low-income rental housing to families for three decades, with a focus on fostering independence.
Official website here: www.ionahousecorp.com
Who is the CEO of Iona House Corporation?
Joseph Gallagher is the Director of Iona House Corporation.
Official website here: www.ionahousecorp.com
What is the revenue of Iona House Corporation?
Iona House Corporation's revenue in 2022 was $80,310.
Official website here: www.ionahousecorp.com
Who are the executives of Iona House Corporation and what are their salaries?
There 6 volunteers at Iona House Corporation.
Here are 6 key members and their salaries:
- Compensation: $0
- 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
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.ionahousecorp.com
Where can I find the form 990 for Iona House Corporation?
Iona House Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ionahousecorp.com
Learn more at the official website: www.ionahousecorp.com
Mission Statement of Iona House Corporation
Iona House Corporation, a nonprofit organization, is committed to assisting families in transitioning from subsidized housing to the market. Their mission is to promote self-sufficiency and financial independence among their tenants. Iona achieves this by implementing an accountability-based model, where annual rent increases are set aside in a savings program. Upon the conclusion of the tenancy, the accumulated savings are made available to the tenant, either as a down payment for a home purchase or to cover the expenses of affording market-rate rents. By providing affordable housing and encouraging financial responsibility, Iona House Corporation empowers its residents to take control of their living situations and work towards a more stable future.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
August, 2024
Iona House Corporation's impact can be seen in the transformation of low-income families' lives in Bonita Springs, Florida. By providing a model of accountability and support, Iona helps families transition from subsidized housing to market-rate rentals or homeownership. Through their unique savings program, annual rent increases are saved for tenants, ultimately helping them achieve financial stability and independence. With a focus on empowering families to work towards self-sufficiency, Iona House Corporation has been making a meaningful difference in the community for over 30 years.
This information is meant to be a general summary of Iona House 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: $1,700
- Program Service Revenue: $78,100
- Gross Receipts: $80,310
Assets and Liabilities:
- Total Assets: $1,209,631
- Total Liabilities: $0
- Net Assets: $1,209,631
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
low income monthly rents
Revenue
$78,100
Organization Details
Founding Year
1993
Phone
(239) 785-8858Principal Officer
Joseph Gallagher
Main Address
10290 Indiana Street, Bonita Springs, FL, 34135
Website
www.ionahousecorp.comNTEE Category
Code: L20 - Housing
If you are a representative of Iona House Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.