Overview
What is Maple City Development Corporation?
Maple City Development Corporation is a nonprofit organization situated in Hornell, New York, at 87 East Washington Street. Their primary mission is to develop low-income housing, specifically in a scattered-site apartment complex with 147 units. In addition to their housing development initiatives, they also work closely with the Hornell Housing Authority and the local community to ensure that housing accommodations are available for those in need, particularly the poor and distressed. Their efforts aim to improve the living situations of these individuals and contribute positively to the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80%, Three-Star out of Four Star rating.
Maple City Development Corporation has achieved a Three-Star rating, reflecting a solid performance in terms of accountability and finance. The organization scores consistently high in various metrics, including a perfect score for majority independent board members and independent board size, which indicate strong governance practices. Additionally, the charity shows an excellent program expense ratio of 94.63%, suggesting that a significant portion of its resources is directed toward its mission.
The charity also demonstrates strong compliance with responsible financial practices, as evidenced by its low liabilities to assets ratio of 0.00%, ensuring financial stability. The presence of a well-documented conflict of interest policy and thorough board meeting minutes further enhances its accountability. These strengths suggest that Maple City Development Corporation is well-managed and transparent in its operations.
While the organization shows commendable financial health and governance, the Three-Star rating implies there may be opportunities for improvement to reach a higher level of excellence. Continuous efforts in areas such as enhancing stakeholder engagement or further diversifying funding sources could potentially strengthen its impact and overall rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Maple City Development Corporation legitimate?
Maple City Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Maple City Development 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: $0
For more financial information, click here
What is the mission statement of Maple City Development Corporation?
The Maple City Development Corporation's mission is focused on developing low-income housing and aiding in the provision of accommodations for those in need. Specifically, they aim to construct a scattered-site apartment complex with 147 units and collaborate with the local housing authority and the community to ensure affordable housing options for the poor and distressed. Their mission is instrumental in improving living conditions and providing a decent home environment for those who are economically disadvantaged.
Who is the CEO of Maple City Development Corporation?
Karen Carney is the President of Maple City Development Corporation.
What is the revenue of Maple City Development Corporation?
Maple City Development Corporation's revenue in 2022 was $106,768.
Who are the executives of Maple City Development Corporation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Maple City Development Corporation?
Maple City Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Maple City Development Corporation
Maple City Development Corporation, as a nonprofit organization, is dedicated to a significant mission. Its primary focus is on developing low-income housing within urban environments, specifically in this case, the city. The corporation works in tandem with local housing authorities, such as the Hornell Housing Authority, to ensure that housing accommodations are provided to those who are poor and distressed. By developing low-income housing, Maple City Development Corporation is contributing to the creation of decent living spaces for individuals and families who may otherwise struggle to secure affordable housing.
In carrying out its mission, Maple City Development Corporation has undertaken a project to construct a scattered-site apartment complex with 147 units. This project not only provides physical housing but also serves as a means to foster community integration. The corporation's mission is not just about constructing buildings; it is about creating environments that promote the well-being and stability of the individuals and families who will reside in these units. By assisting local housing authorities and engaging with the community, Maple City Development Corporation is playing a crucial role in addressing housing inequality and contributing to a more equitable society.
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Impact
October, 2024
Maple City Development Corporation plays a crucial role in addressing the housing needs of low-income individuals and families in Hornell, NY. By developing low-income housing, specifically through a scattered-site apartment complex with 147 units, the organization directly contributes to the availability of affordable housing in the area. This initiative not only provides essential living accommodations for the poor and distressed but also supports the Hornell Housing Authority in its mission to assist marginalized members of the community.
The impact of Maple City Development Corporation extends beyond merely providing housing; it fosters community stability and enhances the quality of life for residents. By ensuring access to decent, affordable living spaces, the corporation helps to alleviate some of the financial burdens faced by low-income households, allowing them to allocate resources toward education, healthcare, and other essential needs.
Furthermore, the development of low-income housing promotes diversity and inclusion within the community, as residents from various backgrounds can find a supportive environment in which to thrive. By addressing housing challenges, Maple City Development Corporation plays an integral role in building a healthier, more equitable community in Hornell.
This information is meant to be a general summary of Maple City Development 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: $3,484
- Program Service Revenue: $103,284
- Gross Receipts: $234,460
Assets and Liabilities:
- Total Assets: $552,145
- Total Liabilities: $0
- Net Assets: $552,145
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEE INCOME
Revenue
$103,284
Organization Details
Founding Year
2016
Phone
(607) 324-7912Principal Officer
Karen Carney
Main Address
87 EAST WASHINGTON STREET, HORNELL, NY, 14843
NTEE Category
Code: L21 - Housing
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