Overview
What is Longmont Housing Development Corporation?
Longmont Housing Development Corporation, situated in Longmont, Colorado, serves as a vital nonprofit entity. Their primary mission is to offer affordable housing options to the local community, utilizing guidance and assistance from the U.S. Department of Housing and Urban Development (HUD). This mission encompasses catering to low and moderate-income families, as well as elderly and disabled households. Their ultimate goal is to alleviate the issue of substandard housing within the community. The organization can be found at 350 Kimbark St, Longmont, CO 80501.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Zero-Star out of Four Stars (47%)
The Longmont Housing Development Corporation has received a Zero-Star rating from Charity Navigator, indicating significant concerns regarding its overall financial accountability and transparency. The rating is primarily based on its Accountability & Finance score, which stands at 47%. This score highlights areas where the organization struggles, particularly in financial management related to program expenses and liabilities.
Strengths of the organization include having a fully independent board, with all ten members meeting the criteria for independence. Additionally, the organization has strong policies in place for managing conflicts of interest and retaining important documents, which reflect a commitment to governance. However, despite these positive aspects, the overall financial metrics reveal troubling weaknesses, particularly a low program expense ratio and a high liabilities-to-assets ratio.
These weaknesses indicate that a significant portion of the organization's resources may not be directed towards its programs, raising concerns about its effectiveness in fulfilling its mission. The organization may need to address these financial management issues to improve its rating and increase trust among stakeholders and potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Longmont Housing Development Corporation legitimate?
Longmont Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Longmont Housing Development 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
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What is the mission statement of Longmont Housing Development Corporation?
The Longmont Housing Development Corporation's mission is centered around providing housing and related services to families, the elderly, and disabled households who fall under the categories of low and moderate income. Their primary goal is to alleviate the presence of substandard housing within their community. To achieve this, they utilize assistance and adhere to guidelines provided by the HUD (Housing and Urban Development). In essence, this organization is dedicated to enhancing living conditions and promoting decent housing opportunities for those in need.
Who is the CEO of Longmont Housing Development Corporation?
Harold Dominguez is the Principal Officer of Longmont Housing Development Corporation.
What is the revenue of Longmont Housing Development Corporation?
Longmont Housing Development Corporation's revenue in 2022 was $466,583.
Who are the executives of Longmont Housing Development Corporation and what are their salaries?
There 3 volunteers at Longmont Housing Development Corporation.
Here are 3 key members and their salaries:
- 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 Longmont Housing Development Corporation?
Longmont Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Longmont Housing Development Corporation
The Longmont Housing Development Corporation, as a nonprofit organization, is dedicated to a mission of providing housing and related services to families and households with low and moderate incomes, as well as the elderly and disabled. Their primary objective is to alleviate the community of substandard housing, contributing positively to the living conditions of those in need. Utilizing guidelines and assistance from the HUD (Department of Housing and Urban Development), this organization offers low income housing to residents in an unspecified location.
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Impact
July, 2024
Longmont Housing Development Corporation has a significant impact on the community of Longmont, Colorado by providing low-income housing solutions to residents. By adhering to HUD assistance and guidelines, this organization works towards ensuring that individuals and families have access to safe and affordable housing options. This not only helps address the issue of substandard housing but also contributes to the overall well-being and stability of low and moderate-income households, elderly individuals, and disabled residents in the area. Through its mission of providing housing and related services, Longmont Housing Development Corporation plays a vital role in improving the quality of life for many individuals in need.
This information is meant to be a general summary of Longmont Housing Development 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.
- Program Service Revenue: $442,644
- Gross Receipts: $466,583
Assets and Liabilities:
- Total Assets: $13,898,902
- Total Liabilities: $4,794,789
- Net Assets: $9,104,113
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Low Interest Loan Inte
Revenue
$436,365
Developer Fees
Revenue
$6,279
Organization Details
Founding Year
1993
Phone
(303) 651-8581Principal Officer
Harold Dominguez
Main Address
350 Kimbark St, Longmont, CO, 805015500
NTEE Category
Code: L20 - Housing
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