Overview
What is Investing In Communities Inc?
Investing in Communities Inc is a nonprofit organization situated in Owensboro, Kentucky, specifically at 2161 E 19th St. Their primary mission is to offer affordable housing to low-income families within their community. They accomplish this by managing five housing units, where rents are subsidized, and utility allowances are provided for the residents. The organization's purpose is deeply rooted in providing a secure living environment for those with limited means.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 65% (Two-Star out of Four Stars)
Investing In Communities Inc. has received a Two-Star rating from Charity Navigator, reflecting a modest level of performance. The accountability and finance score of 65 indicates that while the organization demonstrates strengths in board independence and financial audits, there are significant areas for improvement, particularly concerning program expenses where it scored only 4 out of 25 points.
The organization boasts a fully independent board and maintains a solid score in governance practices, including conflict of interest policies and the documentation of board meeting minutes. These factors suggest a commitment to transparency and ethical management. However, the low program expense ratio highlights potential concerns regarding the allocation of funds towards direct programs and services, which is critical for nonprofit effectiveness.
Overall, while Investing In Communities Inc. shows commendable governance practices and financial integrity, the lower program expenditure ratio raises questions about its impact and the efficiency of resource utilization in fulfilling its mission. Potential donors and supporters may want to consider these factors when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Investing In Communities Inc legitimate?
Investing In Communities Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Investing In Communities 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $180,103
For more financial information, click here
What is the mission statement of Investing In Communities Inc?
Investing in Communities Inc. is committed to providing affordable housing for low-income families within their community. This mission is executed by offering subsidized rents and utility allowances for five housing units that are occupied by such families. The organization's primary objective is to contribute to the housing needs of economically disadvantaged families.
Who is the CEO of Investing In Communities Inc?
Shauna Boom is the Officer of Investing In Communities Inc.
What is the revenue of Investing In Communities Inc?
Investing In Communities Inc's revenue in 2022 was $2,081,251.
Who are the executives of Investing In Communities Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Investing In Communities Inc?
Investing In Communities Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Investing In Communities Inc
Investing in Communities Inc, as a nonprofit organization, is committed to providing affordable housing for low-income families within their community. Their mission is to ensure that every family in need has access to adequate housing, which is a fundamental human right. By providing affordable housing, they aim to alleviate the financial burden that these families often face, enabling them to focus on other essential aspects of their lives.
The organization achieves this mission by operating five housing units, which are occupied by low-income families. To make the housing more affordable, Investing in Communities Inc provides subsidized rents and utility allowances. This support not only reduces the financial strain on these families but also ensures that they have reliable access to essential services. By offering affordable housing, Investing in Communities Inc contributes to the overall well-being of their community, providing a stable living environment for its most vulnerable members.
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Impact
July, 2024
Investing In Communities Inc provides affordable housing to low-income residents in Owensboro, KY by renting out 5 housing units to low-income families. The organization subsidizes rents and provides utility allowances to support these families in accessing affordable housing. This initiative directly impacts the community by addressing the housing needs of low-income families and contributing to a more stable and secure living environment for them.
This information is meant to be a general summary of Investing In Communities 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.
- Investment Income: $307
- Program Service Revenue: $14,436
- Gross Receipts: $2,081,251
Assets and Liabilities:
- Total Assets: $7,239,812
- Total Liabilities: $1,540,175
- Net Assets: $5,699,637
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Organization Details
Founding Year
2018
Phone
(270) 683-5365Principal Officer
Shauna Boom
Main Address
2161 E 19TH ST, OWENSBORO, KY, 42303
NTEE Category
Code: L21 - Housing
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