Overview
What is Anchor Housing Corporation?
Anchor Housing Corporation is a nonprofit organization established in compliance with South Carolina state laws, primarily dedicated to the development and operation of affordable housing for the elderly and individuals with disabilities. Specifically, they manage a 56-unit apartment complex located in Spartanburg, South Carolina, in accordance with Section 223(F) of the National Housing Act. The organization's mission is to provide elderly individuals with suitable living accommodations, contributing positively to their well-being and overall quality of life.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: One-Star out of Four Stars (52%)
Anchor Housing Corporation has received a low rating of 52% from Charity Navigator, indicating significant concerns regarding its accountability and financial management. The organization has failed to demonstrate independence among board members and has not provided adequate financial statements, which raises red flags about transparency and governance practices.
Despite these issues, the nonprofit has reported a strong program expense ratio, suggesting that funds are being directed toward its mission-related activities. However, the lack of a conflict of interest policy and other governance frameworks may hinder its effectiveness and trustworthiness in managing donor funds.
Overall, while Anchor Housing Corporation shows some strengths in its program expenses, the major shortcomings in financial accountability and board independence highlight the need for improvement in governance practices to enhance donor confidence and operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Anchor Housing Corporation legitimate?
Anchor Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Anchor Housing 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 Anchor Housing Corporation?
Anchor Housing Corporation was established under South Carolina's laws with the primary aim of developing and managing affordable housing for the elderly. Specifically, the organization's purpose is to create and manage housing for individuals who fall under the low-income category or have disabilities. Currently, Anchor Housing Corporation operates a 56-unit apartment complex that caters to this demographic, following Section 223(F) of the National Housing Act. The corporation's mission is to ensure that elderly and handicapped individuals have access to affordable housing, thereby improving their living conditions.
Who is the CEO of Anchor Housing Corporation?
Amanda Schrum is the Chair of Anchor Housing Corporation.
What is the revenue of Anchor Housing Corporation?
Anchor Housing Corporation's revenue in 2022 was $5,045,711.
Who are the executives of Anchor Housing Corporation and what are their salaries?
There 6 volunteers at Anchor Housing Corporation.
Here are 6 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for Anchor Housing Corporation?
Anchor Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Anchor Housing Corporation
Anchor Housing Corporation was established under the laws of South Carolina with a primary objective. This objective revolved around developing and managing affordable housing for the elderly and individuals with disabilities. The organization's mission was to provide a safe and affordable living environment for these vulnerable populations, ensuring they could age with dignity and independence. To accomplish this, Anchor Housing Corporation developed and operated a 56-unit apartment complex, adhering to Section 223(F) of the National Housing Act. This commitment to affordable housing for the elderly and handicapped demonstrates Anchor Housing Corporation's dedication to enhancing the lives of its residents and promoting a sense of community and security.
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Impact
July, 2024
Anchor Housing Corporation's impact can be seen in the provision of essential affordable housing for low-income elderly or handicapped individuals in Spartanburg, South Carolina. By operating a 56-unit apartment complex in alignment with the National Housing Act, the organization plays a crucial role in meeting the housing needs of vulnerable populations in the community. Through its dedicated efforts, Anchor Housing Corporation contributes significantly to ensuring that elderly and handicapped individuals have access to safe and affordable housing options, thereby enhancing their quality of life and promoting community well-being.
This information is meant to be a general summary of Anchor Housing 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: $4,734,908
- Program Service Revenue: $74,137
- Gross Receipts: $6,528,739
Assets and Liabilities:
- Total Assets: $3,811,180
- Total Liabilities: $0
- Net Assets: $3,811,180
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL PAYMENTS
Revenue
$70,945
LAUNDRY AND VENDING REVENUE
Revenue
$1,995
TENANT CHARGES
Revenue
$678
CABLE TELEVISION
Revenue
$519
Organization Details
Founding Year
2019
Phone
(704) 882-5415Principal Officer
Amanda Schrum
Main Address
300 EAST JOHN STREET 138, MATTHEWS, NC, 28105
NTEE Category
Code: L22 - Housing
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