Overview
What is Housing Channel?
Housing Channel is a nonprofit organization based in Fort Worth, Texas, dedicated to revitalizing distressed neighborhoods and increasing the availability of decent, affordable housing for lower income families and individuals with special needs. Through their Housing Rehab program, they renovate dilapidated properties, improve neighborhood viability, and create quality, affordable housing opportunities. Additionally, the organization engages in new construction projects using green building techniques, generating reduced utility bills and healthier living environments. Housing Channel also owns and manages affordable rental units, offering high-quality housing to vulnerable populations and providing free budget and credit counseling to help tenants move toward improved financial situations and potential homeownership opportunities. With a workforce of 16 individuals, Housing Channel's initiatives result in job creation, decreased blight, increased supply of affordable housing, and neighborhood revitalization.
Official website here: www.housingchannel.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Housing Channel has received a strong rating of 96%, indicative of its high standards in accountability and finance. The organization excels in several key areas, including having a fully independent board and effective financial oversight, which contributes to its overall positive evaluation. With a program expense ratio of 90.54%, the majority of its funds are allocated directly to its programs, demonstrating a commitment to its mission.
The organization has established comprehensive policies, including conflict of interest and whistleblower policies, which are essential for maintaining transparency and ethical governance. The absence of any material diversion of assets further enhances its credibility, and the documentation of board meeting minutes adds to the organization's accountability.
While Housing Channel showcases robust financial health with a liabilities to assets ratio of 31.07%, ongoing monitoring of these financial metrics is essential for sustaining its high performance. Overall, the organization reflects a strong commitment to responsible financial management and effective program delivery.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Channel legitimate?
Housing Channel is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Channel 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: $169,443
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,133,298
For more financial information, click here
Official website here: www.housingchannel.org
What is the mission statement of Housing Channel?
The Housing Channel aims to revitalize distressed neighborhoods and increase the availability of decent, affordable housing for lower income families and individuals with special needs. Through their Housing Rehab program, they renovate dilapidated properties, create quality housing opportunities, and contribute to community redevelopment efforts. New construction projects involve the development of energy-efficient, affordable homes using green building techniques. The organization also manages affordable rental units, providing high-quality living environments primarily for very low- and low-income households. Their mission is to promote neighborhood revitalization, reduce vacant lots, and increase the supply of affordable housing.
Official website here: www.housingchannel.org
Who is the CEO of Housing Channel?
Donna Vanness is the President of Housing Channel.
Official website here: www.housingchannel.org
What is the revenue of Housing Channel?
Housing Channel's revenue in 2022 was $38,536,878.
Official website here: www.housingchannel.org
Who are the executives of Housing Channel and what are their salaries?
The average compensation at Housing Channel during 2022 was $81,421. There are 16 employees and 25 volunteers at Housing Channel.
Here are 14 key members and their salaries:
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Official website here: www.housingchannel.org
Where can I find the form 990 for Housing Channel?
Housing Channel's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.housingchannel.org
Learn more at the official website: www.housingchannel.org
Mission Statement of Housing Channel
Housing Channel, a renowned nonprofit organization, is dedicated to revitalizing distressed neighborhoods and increasing the availability of decent, affordable housing options for lower income families and individuals with special needs. Through its Housing Rehab program, Housing Channel renovates dilapidated housing stock, improving neighborhood viability and creating quality, affordable housing opportunities. These efforts have a positive impact on local communities by stabilizing property values, decreasing crime rates, generating tax revenue, creating jobs, and eliminating blight. Housing Channel, as a HUD-approved affordable housing provider, has successfully acquired, rehabilitated, and resold hundreds of units throughout Texas.
Moreover, Housing Channel partners with local stakeholders to build new, affordable single-family homes in urban neighborhoods through its New Construction program. Utilizing pioneering green building techniques, these projects generate reduced utility bills, improved indoor air quality, and a healthier living environment. The results of these projects include the creation of jobs, the reduction of vacant, blighted infill lots, the stabilization of property values, an increase in the supply of affordable housing, and a positive impact on local revitalization efforts.
Housing Channel's Affordable Rental program offers 240 high-quality, affordable multifamily units throughout Texas. These units, primarily leased to very low- and low-income households, provide a safe and pleasant living environment for families, particularly for single parents. Housing Channel takes great pride in maintaining these properties at high standards, and tenants are encouraged to take advantage of free budget and credit counseling services to improve their financial situation and potentially transition towards homeownership opportunities.
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Impact
October, 2024
Housing Channel has made a significant impact on Tarrant County and other communities in Texas by transforming distressed neighborhoods and increasing the availability of decent, affordable housing for low- and moderate-income families, as well as individuals with special needs. Through its Acquisition/Rehabilitation/Resale program, Housing Channel renovates dilapidated housing, effectively stabilizing property values and promoting local redevelopment. This revitalization leads to reduced crime rates, increased tax revenue, job creation, and the elimination of blight, contributing to the sustainability of older urban areas.
In addition to rehabilitating existing homes, Housing Channel engages in new construction by collaborating with local stakeholders to develop affordable single-family homes in inner-city neighborhoods. By utilizing innovative green building techniques, they not only create healthier living environments but also enhance long-term sustainability for homeowners, lowering utility costs and reducing environmental impact.
Housing Channel also addresses the need for affordable rentals by managing 240 multifamily units throughout Tarrant County. With a focus on providing safe, quality housing for very low- and low-income households, including many single-parent families, they strive to maintain high standards in their properties. Furthermore, Housing Channel offers resources like free budget and credit counseling, helping tenants improve their credit and work towards homeownership.
Overall, Housing Channel plays a crucial role in enhancing community well-being, fostering economic stability, and offering hope for families seeking affordable living options in a challenging housing market.
This information is meant to be a general summary of Housing Channel. 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: $29,731,776
- Program Service Revenue: $5,152,127
- Gross Receipts: $50,684,539
Assets and Liabilities:
- Total Assets: $58,489,879
- Total Liabilities: $18,177,006
- Net Assets: $40,312,873
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEES
Revenue
$438,757
MANAGEMENT FEES
Revenue
$347,270
PROCESSING FEES
Revenue
$244,362
RENTAL INCOME
Revenue
$4,121,738
Organization Details
Founding Year
1991
Phone
(817) 924-5091Principal Officer
Donna Vanness
Main Address
2900 AIRPORT FWY, FORT WORTH, TX, 76111
Website
www.housingchannel.orgNTEE Category
Code: L20Z - Housing
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