Overview
What is Southwest Neighborhood Housing Corp?
Southwest Neighborhood Housing Corp is a nonprofit organization situated in Denver, Colorado. Their primary mission is to offer affordable housing solutions for low to moderate-income families residing in Southwest and Greater Denver neighborhoods. They achieve this goal through two means: managing 15 rental units that are rented out at a sliding-fee scale, and purchasing, renovating, and reselling houses to eligible families. Despite the small number of houses developed annually (0 to 1), their commitment to making housing affordable for residents who fall below 80% of the area median income is commendable.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
Southwest Neighborhood Housing Corp has achieved a strong 94% score from Charity Navigator, reflecting its commitment to accountability and financial health. The organization's Four-Star rating indicates effective governance and strong financial management practices, making it a trusted choice for donors. The score is derived entirely from its Accountability & Finance, which underscores its transparency and reliability.
The organization excels in having a fully independent board, with all members meeting the criteria for independence. It also demonstrates a robust financial oversight system, with no reported material diversions of assets and comprehensive policies in place, such as conflict of interest and whistleblower policies. The impressive program expense ratio of nearly 99% signifies that the majority of its funds are directed toward its programs rather than administrative costs.
While the data highlights significant strengths in governance and financial practices, it is essential for potential donors to consider whether the organization's specific programs align with their philanthropic goals. Overall, the transparency and accountability shown by Southwest Neighborhood Housing Corp position it as a reputable nonprofit in the housing sector.
This AI summary has been generated from information found on Charity Navigator.
Is Southwest Neighborhood Housing Corp legitimate?
Southwest Neighborhood Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southwest Neighborhood Housing Corp 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:
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What is the mission statement of Southwest Neighborhood Housing Corp?
Southwest Neighborhood Housing Corp's mission is centered around providing affordable housing options. Specifically, they aim to cater to low to moderate income families in various neighborhoods, both in Southwest and Greater Denver. This is achieved through the ownership and rental of properties, as well as the purchase, renovation, and resale of units to eligible families. The organization strives to make housing affordable for individuals who fall below 80% of the area median income. They typically manage around 15 rental units and develop a limited number of houses annually.
Who is the CEO of Southwest Neighborhood Housing Corp?
Tony Oum is the President of Southwest Neighborhood Housing Corp.
What is the revenue of Southwest Neighborhood Housing Corp?
Southwest Neighborhood Housing Corp's revenue in 2022 was $1,380,660.
Who are the executives of Southwest Neighborhood Housing Corp and what are their salaries?
There 15 volunteers at Southwest Neighborhood Housing Corp.
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Where can I find the form 990 for Southwest Neighborhood Housing Corp?
Southwest Neighborhood Housing Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Southwest Neighborhood Housing Corp
Southwest Neighborhood Housing Corp, a nonprofit organization, is committed to providing affordable housing solutions for low to moderate income residents in both Southwest and Greater Denver neighborhoods. Their mission is to make a significant impact by offering both rental and resale housing units on a sliding-fee scale or through the purchase, renovation, and subsequent resale of properties to eligible families. This endeavor enables them to cater to the housing needs of approximately 80% of the area's median income population. The organization's efforts in this regard result in the creation of around 0 to 1 affordable housing units annually, thereby contributing to a more equitable living environment for these communities.
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Impact
July, 2024
Southwest Neighborhood Housing Corp provides affordable rental and resale housing units for low to moderate income residents in Southwest and Greater Denver neighborhoods. Their impact includes offering 15 rental units on a sliding-fee scale and developing 0 to 1 houses per year for individuals and families at or below 80% of the area median income. They work towards ensuring access to affordable housing for those in need, helping to address the housing challenges faced by low to moderate income households in the region.
This information is meant to be a general summary of Southwest Neighborhood Housing Corp. 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: $1,216,917
- Program Service Revenue: $161,868
- Gross Receipts: $1,825,139
Assets and Liabilities:
- Total Assets: $2,428,876
- Total Liabilities: $724,381
- Net Assets: $1,704,495
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rentals and fees
Revenue
$161,868
Organization Details
Founding Year
1995
Phone
(303) 934-2181Principal Officer
Tony Oum
Main Address
5045 W 1st Ave, Denver, CO, 80219
NTEE Category
Code: L20 - Housing
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