Overview
What is Oak-Michigan Housing Development Fund Company Inc?
Oak-Michigan Housing Development Fund Company Inc, situated in Buffalo, New York, is a nonprofit organization committed to providing housing solutions for individuals of low income. They accomplish this mission by leveraging the assistance of the U.S. Department of Housing and Urban Development. The company's primary objective is to ensure that people in need have access to adequate housing, thereby contributing to a more equitable and inclusive community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 65%)
The Oak-Michigan Housing Development Fund Company Inc received a two-star rating from Charity Navigator, indicating areas requiring enhancement despite a strong score in accountability and finance. The organization has excellent governance, with an independent board and no material diversion of assets, reflecting a commitment to ethical management practices.
However, the nonprofit's financial transparency is significantly lacking, as evidenced by a zero score in several key areas like financial statements and tax form accessibility on its website. This raises concerns about the organization's communication and overall transparency with stakeholders and potential donors.
While the program expense ratio is favorable, suggesting that funds are directed towards its mission, the absence of essential policies like conflict of interest and whistleblower protection points to weaknesses in operational protocols. Addressing these limitations will be crucial for improving its rating and building trust within the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Oak-Michigan Housing Development Fund Company Inc legitimate?
Oak-Michigan Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oak-Michigan Housing Development Fund Company Inc 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: $892
For more financial information, click here
What is the mission statement of Oak-Michigan Housing Development Fund Company Inc?
Oak-Michigan Housing Development Fund Company Inc's mission is centered around providing housing opportunities for individuals of low income. They achieve this by collaborating with the U.S. Department of Housing and Urban Development. The company's primary goal is to ensure that low-income individuals have access to decent and affordable housing. Their activities are geared towards facilitating this mission, aiming to make a positive impact on the lives of those in need.
Who is the CEO of Oak-Michigan Housing Development Fund Company Inc?
Deacon Archie Martin is the Co-Chairman of Oak-Michigan Housing Development Fund Company Inc.
What is the revenue of Oak-Michigan Housing Development Fund Company Inc?
Oak-Michigan Housing Development Fund Company Inc's revenue in 2022 was $5,703,203.
Who are the executives of Oak-Michigan Housing Development Fund Company Inc and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Oak-Michigan Housing Development Fund Company Inc?
Oak-Michigan Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Oak-Michigan Housing Development Fund Company Inc
Oak-Michigan Housing Development Fund Company Inc is committed to providing housing solutions for individuals of low income. Leveraging the assistance of the U.S. Department of Housing and Urban Development, this organization diligently works towards this mission. By offering housing aid, Oak-Michigan Housing Development Fund Company Inc strives to contribute to a more equitable society, ensuring that low-income individuals have access to safe and affordable housing. The organization's primary goal is to alleviate housing-related burdens, thereby enabling individuals to focus on other aspects of their lives.
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Impact
July, 2024
Oak-Michigan Housing Development Fund Company Inc's impact is centered around providing housing to individuals of low income in Buffalo, NY. Through the assistance of the U.S. Department of Housing and Urban Development, the organization plays a crucial role in addressing the housing needs of vulnerable communities. This direct engagement in offering affordable housing solutions contributes significantly to improving the quality of life and stability for low-income individuals and families in Buffalo. By focusing on this essential need, Oak-Michigan Housing Development Fund Company Inc positively impacts the community by promoting accessibility to safe and affordable housing options.
This information is meant to be a general summary of Oak-Michigan Housing Development Fund Company Inc. 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: $5,478,636
- Program Service Revenue: $224,567
- Gross Receipts: $5,703,203
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$224,567
Organization Details
Founding Year
2005
Phone
(716) 854-1251Principal Officer
Deacon Archie Martin
Main Address
818 MICHIGAN AVENUE, BUFFALO, NY, 14203
NTEE Category
Code: L21 - Housing
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