Overview
What is Village Oduduwa Corp Of Marin City?
Village Oduduwa Corp Of Marin City is a nonprofit organization situated in Marin City, California. With a focus on providing affordable housing, they operate a 25-unit apartment complex specifically designed for elderly and handicapped individuals with low to moderate income. This housing complex is subsidized by CHFA, ensuring that those in need have access to safe, comfortable living spaces. The corporation's mission is to develop and manage this housing complex, contributing positively to the community by providing essential housing resources for this underrepresented group. With a team of six dedicated individuals, they work tirelessly to maintain and improve the living conditions of their residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 45%
Village Oduduwa Corp Of Marin City has received a low rating of 45%, resulting in a Zero-Star out of Four Stars designation. This score reflects significant deficiencies in accountability and financial transparency, notably due to a lack of independent board members and missing essential governance policies. The organization does have a high program expense ratio of 91.89%, indicating that a substantial portion of its funds is directed towards its mission-related activities.
Despite its strengths in program expenditure, the nonprofit has notable limitations, including a complete absence of financial statements and governance documentation. The lack of independent oversight and critical policies such as conflict of interest and whistleblower protections raises concerns about its operational integrity. Additionally, the organization has not posted its tax form on its website, further hindering transparency.
The financial health of the organization shows a liabilities to assets ratio of 56.54%, which could be a point of concern for potential donors. Overall, while Village Oduduwa Corp Of Marin City demonstrates a commitment to its programs, the serious governance issues highlighted by its rating pose risks that may deter donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Village Oduduwa Corp Of Marin City legitimate?
Village Oduduwa Corp Of Marin City is a legitimate nonprofit organization registered as a 501(c)(3) entity. Village Oduduwa Corp Of Marin City 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: $62,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $78,218
For more financial information, click here
What is the mission statement of Village Oduduwa Corp Of Marin City?
The Village Oduduwa Corp of Marin City was established with the primary objective of developing and managing a 25-unit apartment complex. This complex is designed to provide housing for elderly and handicapped individuals who fall under the low and moderate income bracket. The corporation's mission is centered around offering affordable housing solutions for this specific demographic, with financial support coming from the California Housing Finance Agency (CHFA). The corporation's operations are guided by this mission, aiming to provide a supportive living environment for these individuals.
Who is the CEO of Village Oduduwa Corp Of Marin City?
Shola Akognon is the President of Village Oduduwa Corp Of Marin City.
What is the revenue of Village Oduduwa Corp Of Marin City?
Village Oduduwa Corp Of Marin City's revenue in 2022 was $557,555.
Who are the executives of Village Oduduwa Corp Of Marin City and what are their salaries?
The average compensation at Village Oduduwa Corp Of Marin City during 2022 was $23,453. There are 6 employees at Village Oduduwa Corp Of Marin City.
Here are 7 key members and their salaries:
- Compensation: $60,000
- Related: $0
- Other: $0
- Compensation: $2,500
- 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
Where can I find the form 990 for Village Oduduwa Corp Of Marin City?
Village Oduduwa Corp Of Marin City's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Village Oduduwa Corp Of Marin City
Village Oduduwa Corp of Marin City was established with a mission to develop and operate a 25-unit apartment complex, providing affordable housing for elderly and handicapped individuals with low to moderate incomes. This corporation's primary goal is to contribute to the well-being of this vulnerable population by offering them a secure living environment. The housing complex, subsidized by CHFA, is an essential resource in addressing the housing needs of these individuals, thereby enhancing their overall quality of life. The corporation's mission aligns with the broader societal goal of ensuring that everyone, regardless of their age or physical abilities, has access to safe, affordable housing.
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Impact
July, 2024
Village Oduduwa Corp Of Marin City provides essential housing support to elderly and handicapped individuals of low and moderate income in Marin City, CA. By operating a 25-unit apartment complex subsidized by CHFA, the organization plays a critical role in ensuring that vulnerable members of the community have access to safe and affordable housing. This not only enhances the quality of life for its residents but also contributes to the overall well-being and stability of the community. The impact of Village Oduduwa Corp Of Marin City extends beyond just providing shelter, as it fosters a sense of community and support for those in need.
This information is meant to be a general summary of Village Oduduwa Corp Of Marin City. 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: $360
- Program Service Revenue: $123,226
- Gross Receipts: $557,555
Assets and Liabilities:
- Total Assets: $1,365,253
- Total Liabilities: $771,996
- Net Assets: $593,257
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LAUNDRY & PROGRAM RELATED
Revenue
$869
RENTS
Revenue
$122,357
Organization Details
Phone
(415) 332-2100Principal Officer
Shola Akognon
Main Address
2 PARK CIRCLE, MARIN CITY, CA, 94965
NTEE Category
Code: L21 - Housing
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