Overview
What is Norman Affordable Housing Corporation?
Norman Affordable Housing Corporation is a nonprofit organization situated in Norman, Oklahoma, with a specific focus on providing housing solutions for low-income individuals, the disabled, and the elderly. Their primary activity encompasses managing and developing affordable apartment complexes within the city of Norman. The organization's mission is to administer and manage properties that cater to the affordable housing needs of the community, thereby contributing positively to the local living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
The Norman Affordable Housing Corporation has received a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial health. With a perfect score in several key areas, including independent board membership and financial audits, the organization demonstrates transparency and effective governance.
Financially, the organization shows a solid program expense ratio of 72.86%, indicating that a significant portion of its expenses is directed towards its programs rather than administrative costs. Its liabilities to assets ratio stands at a favorable 4.21%, showcasing its financial stability and ability to manage its resources effectively.
While the data highlights many strengths, no specific limitations are noted in the feedback. Overall, the Norman Affordable Housing Corporation appears to be a reliable nonprofit dedicated to its mission and well-managed in terms of financial and organizational practices.
This AI summary has been generated from information found on Charity Navigator.
Is Norman Affordable Housing Corporation legitimate?
Norman Affordable Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Norman Affordable Housing 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: $154,751
For more financial information, click here
What is the mission statement of Norman Affordable Housing Corporation?
The Norman Affordable Housing Corporation's mission is centered around managing and developing low-income apartment complexes. In essence, they oversee the administration and management of affordable housing units, catering to individuals with limited income, disabilities, and the elderly. Their primary objective is to own and operate properties that provide affordable living spaces within the city, ensuring accessibility for those in need.
Who is the CEO of Norman Affordable Housing Corporation?
Karen Canavan is the Exec. Dir. of Norman Affordable Housing Corporation.
What is the revenue of Norman Affordable Housing Corporation?
Norman Affordable Housing Corporation's revenue in 2022 was $1,079,057.
Who are the executives of Norman Affordable Housing Corporation and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $158,206
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Norman Affordable Housing Corporation?
Norman Affordable Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Norman Affordable Housing Corporation
Norman Affordable Housing Corporation, a non-profit organization, is dedicated to managing and developing low-income apartment complexes. Their mission is threefold: firstly, they administer and manage housing for properties that cater to the needs of the low-income, disabled, and elderly communities. Secondly, they own and manage properties specifically designed to provide affordable housing. This commitment to affordable housing seeks to help individuals and families who may struggle with housing costs, ensuring they have a safe and comfortable living space. Overall, Norman Affordable Housing Corporation plays a crucial role in making affordable housing a reality for those who need it most.
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Impact
July, 2024
Norman Affordable Housing Corporation plays a crucial role in providing affordable housing options to low-income individuals, especially the disabled and elderly, in the city of Norman, OK. By administering and managing housing properties for this specific demographic, the organization helps address the pressing need for accessible and affordable housing in the community. Through its mission to develop and manage low-income apartment complexes, Norman Affordable Housing Corporation positively impacts the lives of those who struggle to secure suitable housing options, thereby contributing to the overall well-being and stability of the city.
This information is meant to be a general summary of Norman Affordable Housing 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: $2,688
- Program Service Revenue: $1,076,369
- Gross Receipts: $1,079,057
Assets and Liabilities:
- Total Assets: $4,997,830
- Total Liabilities: $83,965
- Net Assets: $4,913,865
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Contract Income
Revenue
$825,282
Management Fees
Revenue
$41,739
Program Rents
Revenue
$293,988
Tenant Charges
Revenue
$11,847
Loss on Disposition of Assets
Revenue
-$96,487
Organization Details
Founding Year
1999
Phone
(405) 329-0933Principal Officer
Karen Canavan
Main Address
700 N Berry, Norman, OK, 73069
NTEE Category
Code: L21 - Housing
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