Overview
What is Generations Housing Initiatives?
Generations Housing Initiatives (GHI) is a nonprofit organization situated in Chicago, Illinois. Its primary mission is to enhance the lives of low-income residents living in affordable housing. GHI offers a range of services tailored specifically to two groups: senior citizens aged 55 and above with a household income not exceeding 80% of the area median income, and low-income families. GHI collaborates with affordable housing owners, operators, and developers to develop strategies for preserving and constructing new affordable housing, ensuring these services are provided at no cost to the involved individuals and families.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71% (Two-Star out of Four Star rating)
Generations Housing Initiatives has received a 71% rating from Charity Navigator, reflecting a Two-Star status. This score is derived entirely from their Accountability & Finance metrics, which highlights the organization's financial integrity and governance practices. The absence of any material diversion of assets and the presence of a whistleblower policy indicates a strong commitment to ethical management.
The organization demonstrates a robust governance structure, featuring an entirely independent board with five members. Their financial oversight mechanisms are in place, as evidenced by their full points in both audit and oversight committee evaluations and the documentation of board meeting minutes. Additionally, a significant portion of their expenses, 80.30%, is dedicated to program-related activities, showcasing their focus on mission-driven work.
However, while their accountability measures are commendable, the overall rating of 71% suggests there may be areas for improvement in areas outside of financial practices. Potential donors and supporters should consider both the strengths and limitations highlighted in the rating when engaging with Generations Housing Initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Generations Housing Initiatives legitimate?
Generations Housing Initiatives is a legitimate nonprofit organization registered as a 501(c)(3) entity. Generations Housing Initiatives 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: $538,225
For more financial information, click here
What is the mission statement of Generations Housing Initiatives?
Generations Housing Initiatives is committed to enhancing the lives of low-income residents residing in affordable housing. They achieve this by offering a range of services, tailored to the specific needs of both senior citizens and families. The organization operates without charging any fees to the individuals and families they assist. Generations Housing Initiatives collaborates with owners, operators, and developers of affordable housing to develop strategies for preserving and expanding the availability of such housing. Their primary goal is to improve the overall quality of life for these residents.
Who is the CEO of Generations Housing Initiatives?
Jeffrey Head is the President, Treasurer of Generations Housing Initiatives.
What is the revenue of Generations Housing Initiatives?
Generations Housing Initiatives's revenue in 2022 was $904,140.
Who are the executives of Generations Housing Initiatives and what are their salaries?
There 5 volunteers at Generations Housing Initiatives.
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for Generations Housing Initiatives?
Generations Housing Initiatives's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Generations Housing Initiatives
Generations Housing Initiatives, a nonprofit organization, is committed to enhancing the lives of low-income residents living in affordable housing. Their mission is to provide a multitude of services tailored to improve the quality of life for these individuals. The organization divides its efforts into two distinct categories: services for low-income senior citizens and services for low-income families. Senior citizens, defined as individuals aged 55 and above with a household income not exceeding 80% of the area median income, are a primary focus. Generations Housing Initiatives collaborates with various affordable housing providers to devise strategies for preserving existing housing and developing new affordable housing units. All services provided by the organization are free of charge for the individuals and families they serve.
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Impact
July, 2024
Generations Housing Initiatives, based in Chicago, IL, has a significant impact on low-income residents of affordable housing by providing a variety of services aimed at improving their quality of life. They work tirelessly to assist residents of public housing and other affordable housing programs, offering programming specifically tailored to low-income senior citizens and families. Their initiatives help individuals and families in need without any financial burden, ensuring that those most vulnerable in our communities have access to vital resources and support. Through their collaborations with affordable housing owners, operators, and developers, Generations Housing Initiatives plays a crucial role in preserving existing affordable housing and working towards the creation of new affordable housing opportunities.
This information is meant to be a general summary of Generations Housing Initiatives. 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: $36,340
- Program Service Revenue: $773,150
- Gross Receipts: $904,140
Assets and Liabilities:
- Total Assets: $6,143,000
- Total Liabilities: $6,062,175
- Net Assets: $80,825
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Resident Services
Revenue
$773,150
Organization Details
Founding Year
2016
Phone
(312) 527-5400Principal Officer
Jeffrey Head
Main Address
350 West Hubbard Street, Chicago, IL, 60654
NTEE Category
Code: L20 - Housing
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