Overview
What is Idaho Community Reinvestment Corporation?
Idaho Community Reinvestment Corporation (ICRC) is a nonprofit organization dedicated to promoting affordable housing in Idaho. Established with a primary focus on proving long-term financing for multi-family units, ICRC has supported the development of 2,093 housing units, primarily catering to individuals earning between 30% and 60% of the area median income. The corporation's mission extends beyond just financing, as it also provides technical assistance to facilitate affordable housing development and supports community development and redevelopment needs in the state.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75%, Three-Star out of Four Stars
The Idaho Community Reinvestment Corporation has received a Three-Star rating, reflecting a solid performance in accountability and finance. The organization scored 75% overall, which is primarily based on its accountability and finance metrics, indicating a commitment to transparency and responsible financial practices. This score suggests that the organization is performing adequately but has some room for improvement.
Strengths highlighted in the evaluation include a completely independent board, robust financial oversight, and no material diversion of assets, showcasing effective governance. The organization is recognized for maintaining strong financial statements and governance policies, including a conflict of interest and whistleblower policy, which further enhances its credibility.
Despite its strengths, the score suggests that while the organization is functioning well in its financial practices, there may be areas where it could further improve its impact or outreach. The overall score indicates a stable foundation, but stakeholders may look for enhanced performance in additional areas beyond finance.
This AI summary has been generated from information found on Charity Navigator.
Is Idaho Community Reinvestment Corporation legitimate?
Idaho Community Reinvestment Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Idaho Community Reinvestment 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: $53,627
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Idaho Community Reinvestment Corporation?
The Idaho Community Reinvestment Corporation exists to provide financing and technical assistance, supporting the development of affordable housing and addressing community development and redevelopment needs. Since its inception, the corporation has been actively engaged in long-term financing and refinancing activities for multi-family affordable housing units, primarily aimed at tenants earning between 30% and 60% of the area median income. The corporation's primary mission is to offer financing to support affordable housing development by marketing competitive loan products to encourage developers to provide multi-family and senior affordable housing in Idaho.
Who is the CEO of Idaho Community Reinvestment Corporation?
Jeffrey Jones is the President of Idaho Community Reinvestment Corporation.
What is the revenue of Idaho Community Reinvestment Corporation?
Idaho Community Reinvestment Corporation's revenue in 2023 was $712,106.
Who are the executives of Idaho Community Reinvestment Corporation and what are their salaries?
There 12 volunteers at Idaho Community Reinvestment Corporation.
Here are 12 key members and their salaries:
- Compensation: $53,627
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Where can I find the form 990 for Idaho Community Reinvestment Corporation?
Idaho Community Reinvestment Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Idaho Community Reinvestment Corporation
Idaho Community Reinvestment Corporation (ICRC) exists with a mission to provide financing and technical assistance, aiming to facilitate the development of affordable housing in the state of Idaho. This nonprofit organization is committed to supporting community development and redevelopment needs beyond just housing. Since its inception, ICRC has been actively marketing competitive loan products to encourage developers to provide multi-family and senior affordable housing units in Idaho. The primary focus of these units is to provide housing for tenants earning between 30% and 60% of the area median income. By providing long-term financing and related refinancing activities, ICRC plays a crucial role in ensuring that affordable housing remains accessible to a significant portion of the population. This mission of Idaho Community Reinvestment Corporation is instrumental in promoting equitable housing opportunities and contributing to the overall well-being of the community.
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Impact
July, 2024
Idaho Community Reinvestment Corporation has had a significant impact on the state of Idaho by providing long-term financing and related activities for over 2,000 multi-family affordable housing units. These units are designed to accommodate tenants earning between 30% to 60% of the area median income, addressing the critical need for affordable housing in the region. By actively marketing competitive loan products to developers, ICRC has played a key role in encouraging the development of multifamily and senior affordable housing in Idaho, contributing to the overall community development and redevelopment needs of the state.
This information is meant to be a general summary of Idaho Community Reinvestment 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 2023.
- Investment Income: $1,776
- Program Service Revenue: $710,330
- Gross Receipts: $712,106
Assets and Liabilities:
- Total Assets: $11,334,749
- Total Liabilities: $9,971,531
- Net Assets: $1,363,218
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FUNDRAISING INCOME
Revenue
$4,809
INTEREST & FEES ON LOANS
Revenue
$614,292
PENALTIES & LATE FEES
Revenue
$28,743
SERVICING FEES INCOME
Revenue
$62,486
Organization Details
Founding Year
1993
Phone
(208) 869-6890Principal Officer
Jeffrey Jones
Main Address
PO BOX 2002, BOISE, ID, 83701
NTEE Category
Code: P20 - Human services
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