Overview
What is Independence Hall Mutual Housing Assoc?
Independence Hall Mutual Housing Assoc is a nonprofit organization situated in Houston, Texas, at 6 Burress Street. Their primary mission is to enhance community stability by developing and managing affordable housing options through mutual housing ownership. They operate a 292-unit multi-family housing project, providing a secure and affordable living environment for low-income families. In addition to housing, they offer educational programs about the mutual housing model. With a team of eight employees, they strive to make a positive impact on their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, Two-Star out of Four Star Rating
Independence Hall Mutual Housing Association has received a 67% score, which translates to a Two-Star rating, indicating that while the organization demonstrates some strengths in accountability and finance, there are critical areas that need improvement. The charity's overall score is derived solely from its Accountability & Finance score, reflecting a focus on financial transparency and governance.
One of the organization's notable strengths is its board composition, with 100% of board members being independent, which supports unbiased decision-making. Additionally, the charity has a strong program expense ratio, indicating that all of its funds are directed towards its mission. However, the charity has also received zero points in several key areas, including its liabilities to assets ratio and the absence of essential policies such as a conflict of interest policy and a whistleblower policy.
These limitations suggest that while the organization is committed to accountability in some ways, it is lacking necessary policies that could strengthen its governance framework and financial stability. Addressing these issues could enhance its overall rating and public trust in the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Independence Hall Mutual Housing Assoc legitimate?
Independence Hall Mutual Housing Assoc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Independence Hall Mutual Housing Assoc 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: $289,609
For more financial information, click here
What is the mission statement of Independence Hall Mutual Housing Assoc?
The Independence Hall Mutual Housing Assoc was established with the purpose of improving overall community stability. They accomplish this by developing and managing mutual housing as an affordable alternative for low-income families. The association operates a multi-family housing project, providing a secure, high-quality, and affordable living environment for these families. Additionally, they offer educational programs related to the mutual housing form of organization.
Who is the CEO of Independence Hall Mutual Housing Assoc?
William Elsbree is the President of Independence Hall Mutual Housing Assoc.
What is the revenue of Independence Hall Mutual Housing Assoc?
Independence Hall Mutual Housing Assoc's revenue in 2022 was $1,391,085.
Who are the executives of Independence Hall Mutual Housing Assoc and what are their salaries?
The average compensation at Independence Hall Mutual Housing Assoc during 2022 was $36,201. There are 8 employees and 3 volunteers at Independence Hall Mutual Housing Assoc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Independence Hall Mutual Housing Assoc?
Independence Hall Mutual Housing Assoc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Independence Hall Mutual Housing Assoc
Independence Hall Mutual Housing Assoc was established with the mission to enhance overall community stability. This is achieved through the development and management of mutual housing ownership as an affordable alternative for low-income families. By doing so, the association aims to provide a secure and high-quality living environment for these families. Alongside this, educational activities related to the mutual housing form of organization are also provided.
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Impact
July, 2024
Independence Hall Mutual Housing Assoc's impact is significant in providing a quality, affordable, and secure housing environment for low-income families in Houston, Texas. By operating a 292-unit multi-family housing project, they offer an affordable alternative for those in need. Additionally, their focus on mutual housing ownership and management enhances community stability and empowers residents through educational activities. This organization plays a vital role in addressing housing challenges and improving the overall well-being of low-income families in Houston.
This information is meant to be a general summary of Independence Hall Mutual Housing Assoc. 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: $63
- Program Service Revenue: $1,391,022
- Gross Receipts: $1,391,085
Assets and Liabilities:
- Total Assets: $967,934
- Total Liabilities: $1,129,758
- Net Assets: -$161,824
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MULTI-FAMILY UNITS
Revenue
$1,362,641
OTHER INCOME
Revenue
$28,381
Organization Details
Founding Year
1998
Phone
(617) 899-6297Principal Officer
William Elsbree
Main Address
6 BURRESS STREET, HOUSTON, TX, 77022
NTEE Category
Code: L21 - Housing
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