Overview
What is San Luis Valley Housing Coalition Inc?
The San Luis Valley Housing Coalition Inc, located in Alamosa, Colorado, is a dedicated nonprofit organization focused on providing safe and affordable housing options for the local community. Their mission is to cater to the growing housing needs of the San Luis Valley, which they accomplish through four distinct programs: Down Payment Assistance, Home Rehabilitation, High Valley Manor Apartments, and Casita de la Luna Apartments. The Home Rehabilitation Program, funded by HDG, closed several large rehab loans and aided clients with income limits ranging from 100% to 120% of the Area Median Income. The Down Payment Assistance Program, also funded by HDG, assisted in purchasing homes for younger and retired clients, with income limits similarly expanded. The High Valley Manor and Casita de la Luna Apartments offer rent-assisted housing units to households below 80% of the Area Median Income, providing a comfortable living space with amenities such as community spaces, outdoor areas, and laundry facilities. The Coalition also owns and operates High Valley Manor and manages Casita de la Luna, providing a home to up to 60 individuals annually. In addition, the organization has purchased a mobile home park and an abandoned school for adaptive reuse, demonstrating its commitment to preserving and enhancing housing options in the community.
Official website here: www.slvhc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning a Two-Star out of Four Star rating.
The San Luis Valley Housing Coalition Inc has received a two-star rating, indicating that the organization meets certain accountability and financial benchmarks but has areas needing improvement. It has a strong independent board with 100% of members being independent, and it has a well-structured audit and oversight committee. However, there are significant concerns regarding the absence of key policies, such as conflict of interest and whistleblower protections, which are critical for transparency and governance.
Financially, the organization shows a positive program expense ratio of 89.79%, indicating that a significant portion of its expenditures goes directly to its programs. However, the liabilities to assets ratio is concerning at 80.79%, suggesting that the organization may have a high level of liabilities compared to its assets. This could impact its long-term sustainability and ability to fund future initiatives effectively.
Overall, while the San Luis Valley Housing Coalition Inc demonstrates strong programmatic focus and governance structure through its independent board, the lack of essential policies and high liabilities raises questions about its financial stability and accountability practices.
This AI summary has been generated from information found on Charity Navigator.
Is San Luis Valley Housing Coalition Inc legitimate?
San Luis Valley Housing Coalition Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. San Luis Valley Housing Coalition 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: $98,929
Professional Fundraising Fees: $0
Other Salaries and Wages: $118,374
For more financial information, click here
Official website here: www.slvhc.com
What is the mission statement of San Luis Valley Housing Coalition Inc?
The San Luis Valley Housing Coalition Inc's mission is centered around assisting community members in finding and maintaining safe and affordable housing. They achieve this through various programs funded by multiple government entities and foundations, such as the Colorado Division of Housing, USDA-Rural Housing, the Colorado Housing and Finance Authority, and organizations like El Pomar, the Colorado Health Foundation, the Colorado Trust, and the Anschutz Family Foundation, among others. These programs provide loans to clients, with the payments received used to continue the initiatives. The Coalition offers housing options like the High Valley Manor multifamily rent-assisted housing and Casita de la Luna elderly/disabled rent-assisted housing, both funded by USDA and CDOH, respectively. Additionally, they offer low-interest loan programs for single-family-owner-occupied home rehabilitation and down payment assistance. Starting in 2022, the Coalition will also provide financial and maintenance education.
Official website here: www.slvhc.com
Who is the CEO of San Luis Valley Housing Coalition Inc?
Dawn Melgares is the Board President of San Luis Valley Housing Coalition Inc.
Official website here: www.slvhc.com
What is the revenue of San Luis Valley Housing Coalition Inc?
San Luis Valley Housing Coalition Inc's revenue in 2022 was $1,232,920.
Official website here: www.slvhc.com
Who are the executives of San Luis Valley Housing Coalition Inc and what are their salaries?
The average compensation at San Luis Valley Housing Coalition Inc during 2022 was $31,043. There are 7 employees and 9 volunteers at San Luis Valley Housing Coalition Inc.
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- Compensation: $96,861
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- Other: $2,068
Official website here: www.slvhc.com
Where can I find the form 990 for San Luis Valley Housing Coalition Inc?
San Luis Valley Housing Coalition Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.slvhc.com
Learn more at the official website: www.slvhc.com
Mission Statement of San Luis Valley Housing Coalition Inc
San Luis Valley Housing Coalition Inc, a dedicated nonprofit organization, is committed to assisting all community members in the San Luis Valley find and maintain safe and affordable housing. The organization accomplishes this mission through various programs, all funded by multiple government grants, such as those from the Colorado Division of Housing (CDOH), USDA-Rural Housing, and the Colorado Housing and Finance Authority (CHFA), as well as foundations like El Pomar, the Colorado Health Foundation, the Colorado Trust, Anschutz Family Foundation, and others.
These programs offered by San Luis Valley Housing Coalition Inc provide several avenues for community members to secure and maintain safe, decent, and affordable housing. This includes rental aid for multi-family housing at High Valley Manor and elderly/disabled residents at Casita de la Luna, both of which are USDA and CDOH funded, with Casita de la Luna also benefiting from the Low-Income Housing Tax Credit (LIHTC) for more than 15 years. Additionally, the nonprofit offers low-interest loans for single-family home rehabilitation, down payment assistance, and household wastewater systems, all funded by CDOH, CHFA, and USDA.
The organization also engages in advocacy and education, providing mobile home park tenant assistance, tool barn rental, and financial and maintenance education, starting in 2022. The mobile home park tenant assistance program is supported by the Colorado Health Foundation, and the tool barn rental is funded by CHFA. Their upcoming financial and maintenance education program, set to begin in 2022, will be funded by CHFA on December 31, 2021. San Luis Valley Housing Coalition Inc's mission to help community members find and maintain safe and affordable housing is made possible through these varied programs funded by multiple sources.
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Impact
July, 2024
San Luis Valley Housing Coalition Inc provides affordable housing options to community members throughout the San Luis Valley. They offer programs such as down payment assistance, home rehabilitation, and two rent-assisted housing complexes - High Valley Manor and Casita de la Luna. These programs aim to address the increasing housing needs of low to moderate-income individuals in the area. Additionally, they provide advocacy and education, including mobile home park tenant assistance and financial and maintenance education. Through their efforts, San Luis Valley Housing Coalition Inc plays a vital role in helping individuals in the community secure and maintain safe and affordable housing.
This information is meant to be a general summary of San Luis Valley Housing Coalition 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: $18,281
- Program Service Revenue: $484,896
- Gross Receipts: $1,232,920
Assets and Liabilities:
- Total Assets: $14,491,333
- Total Liabilities: $11,707,654
- Net Assets: $2,783,679
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$484,896
Organization Details
Founding Year
1993
Phone
(719) 587-9807Principal Officer
Dawn Melgares
Main Address
513 LA DUE AVE, ALAMOSA, CO, 81101
Website
www.slvhc.comNTEE Category
Code: L80K - Housing
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