Overview
What is Voa Development Inc?
Voa Development Inc is a nonprofit organization situated in New Orleans, Louisiana. With a primary focus on providing affordable and safe housing, they operate single room occupancy and efficiency housing units for the homeless and elderly. Initially, these units were allocated low-income housing tax credits under Internal Revenue Code Section 42. These credits have been utilized, and the fifteen-year compliance period has expired. Voa Development Inc's mission revolves around catering to those in need in the New Orleans area, offering housing solutions tailored to the homeless and elderly population.
Official website here: www.voasela.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement) - Overall Score: 66%
Voa Development Inc has received a two-star rating from Charity Navigator, indicating that the organization needs improvement, particularly in the area of board independence. The organization scored poorly on the majority of its accountability metrics, notably having no independent board members and a lack of independent board size. However, it did receive full points for its financial oversight committee and various policies such as conflict of interest and whistleblower protections, indicating a commitment to governance.
While the nonprofit shows strengths in some financial practices, the low score in the liabilities to assets ratio raises concerns about its financial health. The program expense ratio, which measures how much of its budget is spent on program services, scored perfectly, suggesting that the majority of the funds are being utilized for their intended purpose. However, transparency issues are evident, particularly with tax information not being posted on the nonprofit's website.
In summary, Voa Development Inc has a solid program expense ratio but needs to address significant governance and financial transparency issues to improve its rating. The lack of independent board members and the liabilities to assets ratio are critical areas that require attention for the organization to enhance its credibility and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Voa Development Inc legitimate?
Voa Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Voa Development Inc 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.voasela.org
What is the mission statement of Voa Development Inc?
Voa Development Inc's mission is centered around providing affordable and safe housing for individuals who are homeless or elderly. The organization operates single room occupancy and efficiency housing units in an unspecified location. Their mission is to offer a shelter for these vulnerable groups, ensuring their basic needs are met. The housing complex, consisting of 82 units, previously benefited from Low-Income Housing Tax Credits, which have since been utilized, marking the end of the 15-year compliance period.
Official website here: www.voasela.org
Who is the CEO of Voa Development Inc?
Voris Vigee is the CEO of Voa Development Inc The CEO's salary of Voa Development Inc is $0 and their total compensation is $371,179.
Official website here: www.voasela.org
What is the revenue of Voa Development Inc?
Voa Development Inc's revenue in 2024 was $631,486.
Official website here: www.voasela.org
Who are the executives of Voa Development Inc and what are their salaries?
Here are 3 key members and their salaries (Voa Development Inc's CEO's salary is $0 and their total compensation is $371,179):
- Compensation: $0
- Related: $259,282
- Other: $111,897
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $143,405
- Other: $49,338
Official website here: www.voasela.org
Where can I find the form 990 for Voa Development Inc?
Voa Development Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.voasela.org
Learn more at the official website: www.voasela.org
Mission Statement of Voa Development Inc
Voa Development Inc is an organization dedicated to providing affordable and safe housing for individuals who are either homeless or elderly. Their mission is centered around operating Single Room Occupancy and efficiency housing units, catering specifically to this demographic. By doing so, Voa Development Inc aims to contribute positively to the community, offering a secure living space for those in need.
According to the information provided, Voa Development Inc operates a total of 82 units, which were previously allocated Low-Income Housing Tax Credits under Internal Revenue Code, Section 42. These credits have been utilized, and the fifteen-year compliance period has expired. This suggests that Voa Development Inc has a long-standing commitment to providing affordable housing solutions for the vulnerable population it serves.
In summary, Voa Development Inc is a nonprofit organization that operates Single Room Occupancy and efficiency housing units, primarily for homeless and elderly individuals. By providing affordable and safe housing, Voa Development Inc seeks to contribute positively to its community, ensuring that those in need have a secure place to live.
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Impact
July, 2024
Voa Development Inc's impact is significant in providing affordable and safe housing for the homeless and elderly in the New Orleans area. Through the operation of single room occupancy and efficiency housing, the organization offers 82 units that cater specifically to those in need. By ensuring access to housing through low-income housing tax credits, Voa Development Inc plays a crucial role in addressing homelessness and housing insecurity in the community.
This information is meant to be a general summary of Voa Development Inc. 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 2024.
- Program Service Revenue: $214,243
- Gross Receipts: $631,486
Assets and Liabilities:
- Total Assets: $930,828
- Total Liabilities: $869,247
- Net Assets: $61,581
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT BASED SUBSIDY R
Revenue
$214,243
Organization Details
Founding Year
1995
Principal Officer
Voris N Vigee
Website
www.voasela.orgNTEE Category
Code: S80 - Community improvement
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