Overview
What is Housing Corporation Of Acadiana Inc?
Housing Corporation of Acadiana Inc is a nonprofit organization situated in Lafayette, Louisiana, specifically at 415 Guilbeau Road. Their primary mission is to provide housing solutions for low-income individuals, the elderly, and those with disabilities. This assistance is made possible through subsidies from the U.S. Department of Housing and Urban Development (HUD) in the form of Section 8 rental assistance payments. The project they manage is a 22-unit apartment complex located in Rayne, Louisiana, operating under Section 811/Section 8 of the National Housing Act.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars, Needs Improvement, Overall Score: 73%
Housing Corporation of Acadiana Inc has received a two-star rating from Charity Navigator, indicating that it is in need of improvement despite scoring 73% overall. The organization demonstrates strong accountability with a fully independent board and robust governance policies, including a conflict of interest policy and a whistleblower policy, both of which received maximum points. These aspects suggest a commitment to ethical management and oversight.
However, the organization's financial health raises concerns, particularly highlighted by a liabilities to assets ratio of 164.03%, which indicates potential financial instability. The program expense ratio is also a point of focus, scoring 19 out of 25 points, which reflects its efficiency in utilizing funds towards its mission. While the organization excels in governance and has implemented necessary policies, its financial challenges could affect its ability to sustain operations and achieve long-term goals.
In summary, while Housing Corporation of Acadiana Inc has established a sound governance framework, its financial ratios indicate that it faces significant challenges. Potential donors and stakeholders may want to consider the organization's financial health alongside its governance strengths when assessing its overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Corporation Of Acadiana Inc legitimate?
Housing Corporation Of Acadiana Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Corporation Of Acadiana 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: $17,420
For more financial information, click here
What is the mission statement of Housing Corporation Of Acadiana Inc?
Housing Corporation of Acadiana Inc is committed to providing housing solutions for low-income individuals, the elderly, and disabled individuals. This is made possible through subsidized rental assistance payments from the HUD Section 8 program. The organization's mission is to ensure that these individuals have access to affordable housing, thereby enhancing their quality of life. The corporation operates a 22-unit apartment complex, which is managed under the Section 811 and Section 8 provisions of the National Housing Act. The aim is to provide a safe and comfortable living environment for those in need.
Who is the CEO of Housing Corporation Of Acadiana Inc?
Deacon Ed Boustany is the Member of Housing Corporation Of Acadiana Inc.
What is the revenue of Housing Corporation Of Acadiana Inc?
Housing Corporation Of Acadiana Inc's revenue in 2022 was $167,266.
Who are the executives of Housing Corporation Of Acadiana Inc and what are their salaries?
There 14 volunteers at Housing Corporation Of Acadiana Inc.
Here are 14 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
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Housing Corporation Of Acadiana Inc?
Housing Corporation Of Acadiana Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Housing Corporation Of Acadiana Inc
Housing Corporation of Acadiana Inc, as a nonprofit organization, is dedicated to providing housing solutions for individuals who fall under the categories of low income, elderly, and disabled. This mission is made possible through the subsidization of their rental assistance payments by the HUD Section 8 program. The organization runs a 22-unit apartment complex, which operates under Section 811/Section 8 of the National Housing Act. In essence, Housing Corporation of Acadiana Inc works tirelessly to ensure that these vulnerable groups have access to safe and affordable housing, thereby improving their overall quality of life.
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
October, 2024
Housing Corporation of Acadiana Inc significantly impacts the community by providing essential housing services to low-income, elderly, and disabled individuals in Rayne, Louisiana. Operating a 22-unit apartment complex under Section 811/Section 8 of the National Housing Act, the organization ensures that vulnerable populations have access to safe and affordable living conditions. By utilizing HUD Section 8 rental assistance payments, it alleviates the financial burden on tenants, enabling them to maintain stability in their lives. This commitment not only enhances the quality of life for its residents but also promotes greater community well-being by fostering inclusive living environments.
This information is meant to be a general summary of Housing Corporation Of Acadiana 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 2022.
- Investment Income: $40
- Program Service Revenue: $59,285
- Gross Receipts: $167,266
Assets and Liabilities:
- Total Assets: $717,206
- Total Liabilities: $1,195,389
- Net Assets: -$478,183
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.
RENT REVENUE
Revenue
$59,285
Organization Details
Founding Year
1997
Phone
(337) 406-8500Principal Officer
Deacon Ed Boustany
Main Address
415 GUILBEAU ROAD, LAFAYETTE, LA, 70506
NTEE Category
Code: P70 - Human services
If you are a representative of Housing Corporation Of Acadiana Inc 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.