Overview
What is Owensboro Area Affordable Housing Solutions Inc?
Owensboro Area Affordable Housing Solutions Inc is a nonprofit organization situated in Owensboro, Kentucky. Their primary mission is to foster the development of affordable rental properties for low-income families. The organization provides housing solutions by managing four single-family homes, with rent restrictions and utility allowances to ensure affordability. Beyond just housing, they also offer supportive services to help these families work towards homeownership. This comprehensive approach to affordable housing aims to empower low-income families, providing them with a stable living environment and the tools to achieve long-term financial stability.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 stars
Owensboro Area Affordable Housing Solutions Inc has received a 40% score from Charity Navigator, resulting in a Zero-Star out of Four Star rating. This score is based solely on the Accountability & Finance beacon, indicating some issues in financial management or operational transparency. The low overall score suggests that while there are areas of accountability present, there may be significant concerns worth addressing.
Despite the low rating, the organization has strengths in governance measures. It has a fully independent board with 10 out of 10 points for majority independent board members and board size. Additionally, the charity has a solid approach to conflict of interest policies and documentation of board meeting minutes, scoring perfectly in these areas.
However, the charity's financial health is a concern, as indicated by a low program expense ratio of 27.98%, which suggests a limited proportion of funds are directed towards program activities. Additionally, the liabilities to assets ratio of 7.22% raises questions about the organization's financial sustainability and ability to manage its resources effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Owensboro Area Affordable Housing Solutions Inc legitimate?
Owensboro Area Affordable Housing Solutions Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Owensboro Area Affordable Housing Solutions 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:
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What is the mission statement of Owensboro Area Affordable Housing Solutions Inc?
Owensboro Area Affordable Housing Solutions Inc's mission is centered around promoting the development of affordable rental properties for low-income families. This organization aims to provide supportive services to help these families eventually achieve homeownership. In essence, their mission is to develop and offer affordable housing options, accompanied by necessary support, with the ultimate goal of enabling these families to transition into homeownership. The organization generates rental income from four single-family homes, which are occupied by low-income families, and provides utility allowances to assist them financially.
Who is the CEO of Owensboro Area Affordable Housing Solutions Inc?
Tish Correa Osborne is the Vice Chairperson of Owensboro Area Affordable Housing Solutions Inc.
What is the revenue of Owensboro Area Affordable Housing Solutions Inc?
Owensboro Area Affordable Housing Solutions Inc's revenue in 2022 was $23,442.
Who are the executives of Owensboro Area Affordable Housing Solutions Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Owensboro Area Affordable Housing Solutions Inc?
Owensboro Area Affordable Housing Solutions Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Owensboro Area Affordable Housing Solutions Inc
Owensboro Area Affordable Housing Solutions Inc is dedicated to promoting the development of affordable rental properties for low-income families, with the additional goal of providing supportive services to help these families achieve homeownership. In simpler terms, this nonprofit organization strives to create and maintain affordable housing options for families with limited income, while also offering resources to assist them in their journey towards homeownership. The organization manages four single-family homes that are occupied by low-income families, ensuring that the rents are affordable and that utility allowances are provided. This approach enables these families to save money and potentially pursue the dream of owning a home in the future.
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Impact
August, 2024
Owensboro Area Affordable Housing Solutions Inc's impact can be seen in the promotion of affordable rental properties for low-income families, along with the provision of supportive services to enable homeownership. This organization's activity involves managing four single-family homes occupied by low-income families, with rents restricted and utility allowances provided. By offering affordable housing options and support services, Owensboro Area Affordable Housing Solutions Inc plays a vital role in addressing the housing needs of low-income families in Owensboro, Kentucky.
This information is meant to be a general summary of Owensboro Area Affordable Housing Solutions 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.
- Program Service Revenue: $23,442
- Gross Receipts: $23,442
Assets and Liabilities:
- Total Assets: $314,131
- Total Liabilities: $13,930
- Net Assets: $300,201
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Income
Revenue
$23,442
Organization Details
Founding Year
2016
Phone
(270) 683-5365Principal Officer
Tish Correa Osborne
Main Address
2161 E 19TH STREET, OWENSBORO, KY, 42303
NTEE Category
Code: L20 - Housing
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