Overview
What is Colorado Housing Assistance Corporation?
Colorado Housing Assistance Corporation, established in 1982, is a nonprofit organization situated in Denver, Colorado. Their primary mission is to make housing and successful homeownership affordable for low and moderate-income Coloradans. They achieve this by offering a variety of programs. The corporation provides education, counseling, and financial assistance to homeowners in need. Their activities include servicing loans originated through the First Time Homebuyer and Foreclosure Prevention Loan Programs. With a team of six dedicated employees, Colorado Housing Assistance Corporation strives to support and empower local residents in their housing journey.
Official website here: www.chaconline.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Colorado Housing Assistance Corporation has achieved an impressive 96% rating from Charity Navigator, reflecting a strong commitment to accountability and financial transparency. This rating is based entirely on their outstanding performance in governance, with a perfect score in multiple categories indicating a well-managed organization with independent board oversight.
Strengths noted include a fully independent board and exemplary financial practices, as evidenced by their high program expense ratio of 88.07%. The organization adheres to best practices with policies in place for conflict of interest, whistleblower protection, and document retention, contributing to their positive score.
There were no significant limitations mentioned in the data, and the absence of material diversion of assets further reinforces their credibility. Overall, the Colorado Housing Assistance Corporation demonstrates a robust framework for financial stewardship, positioning them as a responsible nonprofit in the sector.
This AI summary has been generated from information found on Charity Navigator.
Is Colorado Housing Assistance Corporation legitimate?
Colorado Housing Assistance Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Colorado Housing Assistance 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: $269,088
Professional Fundraising Fees: $0
Other Salaries and Wages: $256,294
For more financial information, click here
Official website here: www.chaconline.org
What is the mission statement of Colorado Housing Assistance Corporation?
The Colorado Housing Assistance Corporation, established in 1982, is committed to making housing and successful homeownership affordable for low and moderate income individuals. It achieves this mission by providing education, counseling, and financial assistance. The corporation's activities extend beyond just offering programs; it also provides loan servicing for the loans originated through its First Time Homebuyer and Foreclosure Prevention Loan Programs. In essence, the Colorado Housing Assistance Corporation aims to assist individuals in maintaining their homes and achieving sustainable homeownership.
Official website here: www.chaconline.org
Who is the CEO of Colorado Housing Assistance Corporation?
Michelle Mitchell is the President of Colorado Housing Assistance Corporation.
Official website here: www.chaconline.org
What is the revenue of Colorado Housing Assistance Corporation?
Colorado Housing Assistance Corporation's revenue in 2023 was $1,038,985.
Official website here: www.chaconline.org
Who are the executives of Colorado Housing Assistance Corporation and what are their salaries?
The average compensation at Colorado Housing Assistance Corporation during 2023 was $87,564. There are 6 employees and 12 volunteers at Colorado Housing Assistance Corporation.
Here are 14 key members and their salaries:
- Compensation: $124,504
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- Other: $3,390
- Compensation: $120,242
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- Other: $3,274
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Official website here: www.chaconline.org
Where can I find the form 990 for Colorado Housing Assistance Corporation?
Colorado Housing Assistance Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.chaconline.org
Learn more at the official website: www.chaconline.org
Mission Statement of Colorado Housing Assistance Corporation
Colorado Housing Assistance Corporation, established in 1982, is committed to making housing and successful homeownership affordable for low and moderate income Coloradans. The corporation achieves this goal by providing a variety of programs. Its mission is to educate, counsel, and offer financial assistance to these individuals, aiming to ensure sustainable homeownership for them. In addition to this, Colorado Housing Assistance Corporation also provides loan servicing for the loans originated through their First Time Homebuyer and Foreclosure Prevention Loan Programs. This proactive approach helps in addressing potential housing issues and fostering a stable living environment for the beneficiaries.
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Impact
July, 2024
Colorado Housing Assistance Corporation's impact is significant in providing education, counseling, and financial assistance to low and moderate-income homeowners in Denver, CO. By offering loan servicing for their programs like first-time homebuyer and foreclosure prevention loan programs, CHAC plays a crucial role in making housing and successful homeownership affordable for many Coloradans. Their mission, established in 1982, continues to benefit the community by addressing the housing needs of those in need, ultimately contributing to the stability and well-being of individuals and families.
This information is meant to be a general summary of Colorado Housing Assistance 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 2023.
- Investment Income: $55,932
- Program Service Revenue: $523,134
- Gross Receipts: $1,042,040
Assets and Liabilities:
- Total Assets: $15,310,203
- Total Liabilities: $1,752,836
- Net Assets: $13,557,367
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST REVENUE
Revenue
$173,331
LOAN RECOVERY INCOME
Revenue
$136,628
ORIGINATION/SERVICING FEES
Revenue
$118,481
COUNSELING & EDUCATION FEES
Revenue
$94,694
Organization Details
Founding Year
1982
Phone
(303) 572-9445Principal Officer
Michelle Mitchell
Main Address
670 SANTA FE DR, DENVER, CO, 802044427
Website
www.chaconline.orgNTEE Category
Code: L80Z - Housing
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