Overview
What is Midland Community Housing Development Corporation?
Midland Community Housing Development Corporation is a nonprofit organization situated in Midland, Texas. Their primary mission is to offer decent, safe, and affordable housing options to families with moderate, low, and very low income levels within the city. In 2022, they successfully completed six housing projects, demonstrating their dedication to addressing the housing needs in economically depressed areas of Midland. The organization operates with a team of five individuals, working tirelessly to contribute to community development in the area.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, Two-Star out of Four Star rating. This rating indicates that Midland Community Housing Development Corporation demonstrates some accountability and finance practices but falls short in overall financial health. The score primarily reflects its performance in the Accountability & Finance category.
The organization has several strengths, including a fully independent board and robust policies regarding conflict of interest, whistleblower protections, and document retention. They also excelled in program expense ratio, dedicating 96.70% of their finances towards programs, which is a positive sign for their commitment to mission-driven work.
However, a significant limitation is the high liabilities to assets ratio of 178.88%, which raises concerns about financial sustainability. While they maintain strong governance practices, the organization's financial structure suggests potential risks that could impact its long-term viability. Overall, while the Midland Community Housing Development Corporation demonstrates strong practices in governance, its financial health requires attention.
This AI summary has been generated from information found on Charity Navigator.
Is Midland Community Housing Development Corporation legitimate?
Midland Community Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Midland Community Housing Development 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: $146,710
For more financial information, click here
What is the mission statement of Midland Community Housing Development Corporation?
The Midland Community Housing Development Corporation's mission is centered around supporting the organization in providing housing solutions for families in economically depressed areas. Specifically, they strive to provide decent, safe, and affordable housing options for moderate, low, and very low-income families. Their activities in 2022 included completing six houses, demonstrating their commitment to this mission. By doing so, the corporation aims to contribute to the better living standards of these communities.
Who is the CEO of Midland Community Housing Development Corporation?
Brad Bullock is the Chairman of Midland Community Housing Development Corporation.
What is the revenue of Midland Community Housing Development Corporation?
Midland Community Housing Development Corporation's revenue in 2022 was $1,751,250.
Who are the executives of Midland Community Housing Development Corporation and what are their salaries?
The average compensation at Midland Community Housing Development Corporation during 2022 was $29,342. There are 5 employees and 10 volunteers at Midland Community Housing Development Corporation.
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- Related: $92,000
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Where can I find the form 990 for Midland Community Housing Development Corporation?
Midland Community Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Midland Community Housing Development Corporation
Midland Community Housing Development Corporation, as a dedicated organization, is committed to supporting the provision of housing in economically depressed areas. Its mission lies in addressing the housing needs of moderate, low, and very low-income families in a proactive manner. The corporation strives to provide decent, safe, and affordable living spaces, contributing to the well-being of these families and promoting community development. In 2022, Midland Community Housing Development Corporation marked its efforts by completing six houses, demonstrating its ongoing commitment to providing accessible and suitable housing solutions.
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Impact
July, 2024
Midland Community Housing Development Corporation's impact is evident in its commitment to providing decent, safe, and affordable housing to moderate, low, and very low-income families in economically depressed areas of Midland, Texas. By completing six houses in 2022 alone, the organization has directly contributed to addressing the housing needs of vulnerable populations in the community. Through its mission to support Midland Community Development Corporation, Midland Community Housing Development Corporation plays a crucial role in improving the living conditions and opportunities for individuals and families in need.
This information is meant to be a general summary of Midland Community Housing Development 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.
- Program Service Revenue: $1,735,398
- Gross Receipts: $1,751,250
Assets and Liabilities:
- Total Assets: $148,737
- Total Liabilities: $266,074
- Net Assets: -$117,337
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROJECT INCOME
Revenue
$1,097,500
SERVICES
Revenue
$637,898
Organization Details
Founding Year
2002
Phone
(432) 682-2520Principal Officer
Brad Bullock
Main Address
208 S MARIENFELD, MIDLAND, TX, 79701
NTEE Category
Code: L20 - Housing
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