Overview
What is Frontier Communities Inc?
Frontier Communities Inc is a not-for-profit organization situated in Billings, Montana. Their primary mission is to cater to the housing needs of individuals with low to moderate incomes. They offer a range of affordable and safe accommodations within their complex, with 72 units available at approximately 72% of the market rate. Despite having a 7% vacancy rate due to turnover and property replacement/renovation, Frontier Communities Inc remains dedicated to providing affordable housing solutions in the communities they serve.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
Frontier Communities Inc has received a Three-Star rating, indicating a solid level of accountability and finance management. The organization achieved a score of 79% based on its Accountability & Finance metrics, reflecting a strong commitment to maintaining transparent financial practices and independent governance structures.
One of the notable strengths of Frontier Communities Inc is its fully independent board, which consists of 8 members, showing a commitment to unbiased decision-making. Additionally, the organization has a high program expense ratio of 93.76%, which suggests that a significant portion of its funds is directed toward its programs rather than administrative costs. The presence of comprehensive policies on conflict of interest, whistleblower protections, and document retention further underscores its commitment to accountability.
However, the organization faces a challenge with its liabilities to assets ratio, which is reported at 154.41%. This indicates that its liabilities exceed its assets significantly, suggesting potential financial risks that could impact its long-term sustainability. Overall, while Frontier Communities Inc demonstrates strong governance and program funding, attention to its financial health is warranted.
This AI summary has been generated from information found on Charity Navigator.
Is Frontier Communities Inc legitimate?
Frontier Communities Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Frontier Communities 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: $84,833
For more financial information, click here
What is the mission statement of Frontier Communities Inc?
Frontier Communities Inc, as an organization, is committed to providing affordable and safe housing solutions for individuals with low to moderate income levels within the communities they serve. Their primary mission is to address the housing needs of this demographic, ensuring they have access to secure and reasonably priced residences. Currently, they offer 72 units within their complex at rates that are approximately 72% of the market rate. Occasionally, there are vacancies due to turnover and property replacement or renovation projects.
Who is the CEO of Frontier Communities Inc?
Sherman Oland is the President of Frontier Communities Inc.
What is the revenue of Frontier Communities Inc?
Frontier Communities Inc's revenue in 2022 was $577,188.
Who are the executives of Frontier Communities Inc and what are their salaries?
There 8 volunteers at Frontier Communities Inc.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Frontier Communities Inc?
Frontier Communities Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Frontier Communities Inc
Frontier Communities Inc, a nonprofit organization, is dedicated to providing affordable and safe housing solutions for individuals with low to moderate income levels within the communities it serves. The mission of this organization is to ensure that every resident can secure a place to call home without straining their budget. To achieve this goal, Frontier Communities Inc offers housing units at approximately 72% of the market rate, making it an affordable option for many families and individuals. With a 7% vacancy rate due to turnover and property replacement or renovation, the organization is consistently working to maintain and improve its housing complexes. By providing affordable housing, Frontier Communities Inc plays a crucial role in promoting stability and improving the quality of life for its residents.
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Impact
July, 2024
Frontier Communities Inc has a tangible impact on the community by providing affordable and safe housing options for low to moderate-income earners. Through their efforts, 72 units within the complex are available at rates approximately 72% of the market rate, ensuring that individuals and families have access to housing that fits their budget. With only 7% vacancies due to turnover and property replacement/renovation, Frontier Communities Inc is actively working to meet the housing needs of the community and improve overall living conditions for its residents.
This information is meant to be a general summary of Frontier Communities 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: $67
- Program Service Revenue: $321,090
- Gross Receipts: $577,188
Assets and Liabilities:
- Total Assets: $914,412
- Total Liabilities: $1,411,974
- Net Assets: -$497,562
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTS (NET OF VACANCY)
Revenue
$303,316
TENANT CHARGES
Revenue
$17,774
Organization Details
Principal Officer
Sherman Oland
Main Address
2929 3RD AVENUE NORTH STE 538, BILLINGS, MT, 59101
NTEE Category
Code: L22Z - Housing
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