Overview
What is Herreid Area Housing Development?
Herreid Area Housing Development is a nonprofit organization based in Herreid, South Dakota. Their primary mission is to facilitate the creation of affordable housing within the city. To accomplish this, they actively work towards this goal, as stated in their description. The organization, with its focus on affordability, aims to make housing a more accessible resource for the residents of Herreid.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (58%)
Herreid Area Housing Development has received a One-Star out of Four Star rating from Charity Navigator, indicating concerns in its overall accountability and financial health. The organization scored 58% due to a notably high liabilities to assets ratio of 78.80%, which raises questions about financial stability and sustainability. However, it boasts a strong program expense ratio of 86.15%, suggesting that a significant portion of its funds is directed toward programs rather than administrative costs.
Strengths of the organization include a fully independent board, which scored the maximum points in both majority independent board members and board size categories. Additionally, the charity demonstrates good practices in documenting board meeting minutes and has no reported issues with the diversion of assets. These aspects reflect some commitment to governance and transparency.
Despite these strengths, the financial concerns highlighted by the low liabilities to assets ratio cannot be overlooked. This could indicate potential challenges in meeting obligations and maintaining operational effectiveness in the long term. Overall, while Herreid Area Housing Development shows promise in program delivery and governance, its financial health requires careful consideration.
This AI summary has been generated from information found on Charity Navigator.
Is Herreid Area Housing Development legitimate?
Herreid Area Housing Development is a legitimate nonprofit organization registered as a 501(c)(3) entity. Herreid Area Housing Development 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 Herreid Area Housing Development?
The Herreid Area Housing Development has a mission to establish affordable housing within its sphere of operation. This organization is dedicated to ensuring that housing becomes an attainable resource for individuals, promoting a sense of community and equal living opportunities. By creating affordable housing, it aims to contribute positively to the well-being and quality of life for its residents. The organization's activities primarily focus on making housing more accessible, thereby addressing the housing needs of various segments of society.
Who is the CEO of Herreid Area Housing Development?
Dick Werner is the Treasurer of Herreid Area Housing Development.
What is the revenue of Herreid Area Housing Development?
Herreid Area Housing Development's revenue in 2022 was $143,789.
Who are the executives of Herreid Area Housing Development and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Herreid Area Housing Development?
Herreid Area Housing Development's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Herreid Area Housing Development
Herreid Area Housing Development, as a nonprofit organization, is committed to a significant mission. This mission revolves around the creation of affordable housing within a city setting. By undertaking this task, the organization aims to contribute positively to the lives of its community members, ensuring that housing is within reach for all. The focus of Herreid Area Housing Development is to make a difference, one affordable housing unit at a time, in the city where it operates.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Herreid Area Housing Development significantly impacts the community by addressing the critical need for affordable housing in Herreid, South Dakota. By creating accessible living options, the initiative fosters stability and economic growth for residents. It facilitates homeownership opportunities for families, enhances the quality of life, and strengthens the local economy by attracting new residents and encouraging community investment. This development not only provides shelter but also cultivates a sense of belonging and community cohesion among residents, ensuring a healthier, more sustainable environment for generations to come.
This information is meant to be a general summary of Herreid Area Housing Development. 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: $2,766
- Program Service Revenue: $120,415
- Gross Receipts: $143,789
Assets and Liabilities:
- Total Assets: $1,355,387
- Total Liabilities: $1,133,844
- Net Assets: $221,543
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EIGHT PLEX RENT
Revenue
$57,545
4 PLEX
Revenue
$40,100
TWIN HOME
Revenue
$22,770
Organization Details
Founding Year
2016
Phone
(605) 437-2612Principal Officer
Dick Werner
Main Address
PO BOX 235, HERREID, SD, 57632
NTEE Category
Code: L21 - Housing
If you are a representative of Herreid Area Housing Development and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.