Overview
What is City Of Lubbock Housing Initiative?
The City of Lubbock Housing Initiative is a dedicated nonprofit organization situated in Lubbock, Texas, specifically at 1708 Cricket Avenue. Their primary mission is to offer affordable housing services to families with low and moderate incomes residing within the Lubbock community. By providing these essential services, they aim to contribute positively to the local community, ensuring that housing remains accessible and affordable for a significant portion of its population.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82%, Three-Star out of Four Star rating.
The City Of Lubbock Housing Initiative has received a strong rating of 82%, reflecting solid performance in accountability and finance. The organization boasts an independent board of directors, with 100% of its members being independent, which enhances its governance and oversight capabilities. The financial statements are handled by an audit and oversight committee, ensuring transparency and integrity in financial reporting.
The initiative demonstrates a high program expense ratio of 85.91%, indicating that a significant portion of its budget is allocated to its programs rather than administrative costs. This focus on program expenses reflects a commitment to effectively serving its community. Additionally, the organization has shown no material diversion of assets, which highlights its reliability and trustworthiness in managing funds.
While the organization performs well in many areas, the overall score suggests there may still be room for improvement in some operational aspects. The continued emphasis on accountability and strong financial practices will be essential for sustaining trust and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is City Of Lubbock Housing Initiative legitimate?
City Of Lubbock Housing Initiative is a legitimate nonprofit organization registered as a 501(c)(3) entity. City Of Lubbock Housing Initiative 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: $66,716
For more financial information, click here
What is the mission statement of City Of Lubbock Housing Initiative?
The City of Lubbock Housing Initiative is dedicated to serving low and moderate-income families within its community. Its primary mission is to provide affordable housing solutions, aiming to make housing accessible to these families who may otherwise struggle to secure suitable living accommodations. The initiative's activities focus on addressing the housing needs of this demographic, ensuring they have access to safe and affordable living spaces.
Who is the CEO of City Of Lubbock Housing Initiative?
Mike Chapman is the Chairman of City Of Lubbock Housing Initiative.
What is the revenue of City Of Lubbock Housing Initiative?
City Of Lubbock Housing Initiative's revenue in 2022 was $1,020,268.
Who are the executives of City Of Lubbock Housing Initiative and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for City Of Lubbock Housing Initiative?
City Of Lubbock Housing Initiative's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of City Of Lubbock Housing Initiative
The City of Lubbock Housing Initiative is dedicated to serving the housing needs of low-income and moderately-incured families within its community. This nonprofit organization's primary mission is to make affordable housing options readily available for these families, ensuring they have a secure living environment. By providing these essential services, the City of Lubbock Housing Initiative plays a significant role in enhancing the well-being and stability of local families.
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Impact
July, 2024
The City of Lubbock Housing Initiative has had a significant impact on the community by providing affordable housing services to low and moderate-income families in the Lubbock area. Through its mission to offer housing solutions for those in need, this initiative has helped improve the quality of life for many individuals and families who may have otherwise struggled to find suitable and affordable housing options. By addressing the critical need for affordable housing, the City of Lubbock Housing Initiative plays a vital role in creating a more stable and inclusive community for all residents.
This information is meant to be a general summary of City Of Lubbock Housing Initiative. 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: $4,681
- Program Service Revenue: $388,318
- Gross Receipts: $1,020,268
Assets and Liabilities:
- Total Assets: $4,048,689
- Total Liabilities: $900,102
- Net Assets: $3,148,587
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL REVENUE
Revenue
$380,306
OTHER TENANT REVENUE
Revenue
$8,012
Organization Details
Founding Year
1993
Phone
(806) 776-2305Principal Officer
Mike Chapman
Main Address
1708 CRICKET AVENUE, LUBBOCK, TX, 79401
NTEE Category
Code: L80 - Housing
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