Overview
What is Heartland Mhdc Tower Corporation?
Heartland Mhdc Tower Corporation is a not-for-profit organization, specifically chartered as Metropolitan Housing Development Corporation (MHDC), located in Chicago, Illinois. Their primary mission is to develop, own, and manage affordable housing for low-income individuals and senior citizens, with a focus on areas experiencing job growth or in the process of recovery after prolonged neglect or blight. Through their activities, they aim to contribute non-discriminatory housing solutions, promoting social equity and community development. With a small team of two dedicated individuals, Heartland Mhdc Tower Corporation is committed to enhancing living conditions for underserved communities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, Two-Star out of Four Star rating.
Heartland Mhdc Tower Corporation has received a Two-Star rating, indicating a moderate level of accountability and financial health. The organization scored particularly well in areas such as program expense ratio, achieving 85.09%, which suggests that a significant portion of its expenditures goes directly to its programs. However, its overall score reflects weaknesses in governance, notably the absence of independent board members and missing financial transparency on its website.
Despite having strong policies in place, such as conflict of interest and whistleblower protections, the charity's lack of independent oversight is a significant concern. Additionally, the organization's liabilities exceed its assets, with a ratio of 112.11%, which may raise questions about its financial stability. The absence of its tax form on its website further detracts from its transparency and accountability.
Overall, while Heartland Mhdc Tower Corporation demonstrates a commitment to its programs, its governance and financial oversight practices appear to need improvement. Stakeholders may want to consider these factors when evaluating the organization's effectiveness and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Heartland Mhdc Tower Corporation legitimate?
Heartland Mhdc Tower Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Heartland Mhdc Tower 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: $64,218
For more financial information, click here
What is the mission statement of Heartland Mhdc Tower Corporation?
Heartland MHDC Tower Corporation, as a not-for-profit organization, is committed to the development, ownership, and management of affordable housing. Their mission specifically targets low-income individuals, including minorities, and senior citizens. These housing units are ideally located in areas experiencing job growth or recovering from prolonged periods of neglect or blight. The corporation's goal is to provide non-discriminatory housing opportunities, contributing to a more equitable living situation for these groups.
Who is the CEO of Heartland Mhdc Tower Corporation?
Richard Gonzalez is the President of Heartland Mhdc Tower Corporation.
What is the revenue of Heartland Mhdc Tower Corporation?
Heartland Mhdc Tower Corporation's revenue in 2022 was $669,573.
Who are the executives of Heartland Mhdc Tower Corporation and what are their salaries?
The average compensation at Heartland Mhdc Tower Corporation during 2022 was $32,109. There are 2 employees at Heartland Mhdc Tower Corporation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $291,039
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Heartland Mhdc Tower Corporation?
Heartland Mhdc Tower Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Heartland Mhdc Tower Corporation
Heartland MHDC Tower Corporation, a not-for-profit organization, is committed to a mission that involves the creation of affordable housing for low-income individuals and minority communities. Ideally, these housing units are situated in areas undergoing job growth or in the process of recovery from prolonged neglect or blight. Additionally, the corporation focuses on providing housing for senior citizens. In essence, Heartland MHDC Tower Corporation's mission is to develop, own, and manage housing that is inclusive and accessible to those in need, ensuring a sense of community and stability for its residents.
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Impact
July, 2024
Heartland Mhdc Tower Corporation's impact can be seen in their dedication to the production of non-discriminatory affordable housing for low-income, minority individuals as well as housing for senior citizens in areas of emerging job growth or in areas that have suffered neglect or blight. Through their activities, they contribute to community improvement by providing much-needed housing options for vulnerable populations and helping to revitalize underserved areas.
This information is meant to be a general summary of Heartland Mhdc Tower 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.
- Investment Income: $20
- Program Service Revenue: $640,629
- Gross Receipts: $669,573
Assets and Liabilities:
- Total Assets: $2,313,197
- Total Liabilities: $2,544,487
- Net Assets: -$231,290
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$640,629
Organization Details
Founding Year
2016
Principal Officer
Richard Gonzalez
Main Address
8 SOUTH MICHIGAN AVE SUITE 3100, CHICAGO, IL, 60603
NTEE Category
Code: S21Z - Community improvement
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