Overview
What is Austin Revitalization Authority?
The Austin Revitalization Authority (ARA) is a nonprofit organization situated in Austin, Texas, specifically at 1154 Lydia Street 200. Their primary goal is to revitalize the commercial corridors of designated areas in Central East Austin, aiming to foster economic development and combat community deterioration. They collaborate with the City of Austin and the private sector, utilizing both public and private funds. Their recent focus involves the development and preservation of affordable housing, both rental and ownership, in these targeted areas. The mission of ARA is to promote residential, commercial, and cultural development that upholds community well-being, respecting the people, institutions, and history of East Austin and other underserved communities.
Official website here: www.austinrev.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56% (One-Star out of Four Stars)
The Austin Revitalization Authority has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its financial accountability and transparency. While the organization boasts a fully independent board and high scores in areas such as audit and oversight, its overall financial performance raises red flags, particularly with a program expense ratio of only 48.26%, suggesting that less than half of its expenses are directed towards its core mission.
Despite receiving full points on several governance indicators, the nonprofit's missing tax form on its website and a liabilities-to-assets ratio of 40.07% highlight potential weaknesses in financial management and public accountability. This lack of transparency may deter potential donors and stakeholders who seek to understand how contributions are utilized within the organization.
Overall, while the Austin Revitalization Authority demonstrates a commitment to strong governance practices, its financial health and transparency issues detract from its overall effectiveness as a nonprofit organization. Improved financial management and transparency could enhance its standing and trust among supporters and the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Austin Revitalization Authority legitimate?
Austin Revitalization Authority is a legitimate nonprofit organization registered as a 501(c)(3) entity. Austin Revitalization Authority 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: $192,712
Professional Fundraising Fees: $0
Other Salaries and Wages: $265,546
For more financial information, click here
Official website here: www.austinrev.org
What is the mission statement of Austin Revitalization Authority?
The Austin Revitalization Authority's mission is centered around encouraging residential, commercial, and cultural development that enhances community well-being. This mission is mindful of preserving the people, institutions, and history of underserved communities, such as East Austin. The organization aims to revitalize the commercial corridors in targeted areas through a collaboration with the city and private sector, using both public and private funds. Economic development and combating community deterioration are key objectives in these targeted areas. Recently, the focus of the Austin Revitalization Authority has shifted towards the development and preservation of affordable housing, both for rent and homeownership.
Official website here: www.austinrev.org
Who is the CEO of Austin Revitalization Authority?
Gregory Smith is the Treasurer of Austin Revitalization Authority.
Official website here: www.austinrev.org
What is the revenue of Austin Revitalization Authority?
Austin Revitalization Authority's revenue in 2022 was $1,864,708.
Official website here: www.austinrev.org
Who are the executives of Austin Revitalization Authority and what are their salaries?
The average compensation at Austin Revitalization Authority during 2022 was $114,564. There are 4 employees and 13 volunteers at Austin Revitalization Authority.
Here are 14 key members and their salaries:
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- Compensation: $192,712
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- Other: $42,339
Official website here: www.austinrev.org
Where can I find the form 990 for Austin Revitalization Authority?
Austin Revitalization Authority's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.austinrev.org
Learn more at the official website: www.austinrev.org
Mission Statement of Austin Revitalization Authority
The Austin Revitalization Authority (ARA) is committed to fostering residential, commercial, and cultural development that enhances community well-being. This mission is guided by a deep respect for the people, institutions, and history of underserved communities, particularly East Austin. The organization's primary goal is to revitalize the commercial corridors in targeted areas, collaborating with the city of Austin and the private sector to encourage economic development and combat community deterioration.
In addition to commercial revitalization, ARA has a strong focus on affordable housing. They are actively involved in developing and preserving both rental and homeownership opportunities, ensuring that these communities remain accessible and livable for a diverse population. By utilizing public and private funds, ARA aims to promote sustainable growth and improve the overall quality of life in these areas. In essence, the Austin Revitalization Authority is dedicated to revitalizing underserved communities, fostering economic development, and providing affordable housing solutions, all while honoring and respecting the diverse culture and history of these neighborhoods.
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Impact
July, 2024
The Austin Revitalization Authority's impact is to effect a comprehensive revitalization of the commercial corridors of targeted areas in Central East Austin, Texas. By leveraging public and private funds and collaborating with the City of Austin and the private sector, ARA aims to encourage economic development, combat community deterioration, and focus on developing and preserving affordable housing in both rental and homeownership sectors. Their mission is to encourage residential, commercial, and cultural development that promotes community well-being, all while respecting the people, institutions, and history of East Austin and other underserved communities.
This information is meant to be a general summary of Austin Revitalization Authority. 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: $642
- Program Service Revenue: $579,066
- Gross Receipts: $1,864,708
Assets and Liabilities:
- Total Assets: $3,793,937
- Total Liabilities: $1,520,265
- Net Assets: $2,273,672
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$234,467
PROJECT MANAGEMENT FEE
Revenue
$181,982
OTHER REVENUE
Revenue
$84,988
REIMBURSED EXPENSES
Revenue
$77,629
Organization Details
Founding Year
1995
Phone
(512) 469-1705Principal Officer
Gregory Smith
Main Address
1154 LYDIA STREET 200, AUSTIN, TX, 78702
Website
www.austinrev.orgNTEE Category
Code: S31Z - Community improvement
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