Overview
What is Habitat For Humanity Of Hobbs Nm Area?
Habitat for Humanity of Hobbs, New Mexico Area is a dedicated nonprofit organization, located at PO Box 5833, Hobbs, NM 88241. Their primary focus is on construction, sale, and financing of housing for low-income families. This mission is in place to contribute positively to the local community, providing essential shelter options for those who might not otherwise be able to afford it. With a team of 10 dedicated individuals, they work tirelessly towards their goal, contributing to the well-being and stability of families in the Hobbs area.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 31%
Habitat For Humanity Of Hobbs Nm Area has received a poor rating of 31%, resulting in a Zero-Star out of Four Star rating. This score reflects significant concerns regarding the charity's accountability and financial transparency. While the organization benefits from a fully independent board with a high level of compliance in some governance areas, it lacks critical financial documentation and transparency, which heavily affects its overall score.
The organization shows strengths in having a majority of independent board members and maintaining proper board meeting minutes. However, it faces severe limitations due to the absence of financial statements and relevant policies such as a whistleblower policy and document retention procedures. These gaps in financial accountability and operational transparency raise questions about the organization's stewardship of donated funds.
Furthermore, the charity's financial ratios show troubling signs, including a program expense ratio of 0.00%, indicating that no funds have been allocated towards program services. This raises red flags for potential donors who seek to ensure their contributions support meaningful programs. Overall, while the board structure appears sound, the lack of essential financial information and governance policies could deter potential support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Habitat For Humanity Of Hobbs Nm Area legitimate?
Habitat For Humanity Of Hobbs Nm Area is a legitimate nonprofit organization registered as a 501(c)(3) entity. Habitat For Humanity Of Hobbs Nm Area 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: $250,095
For more financial information, click here
What is the mission statement of Habitat For Humanity Of Hobbs Nm Area?
Habitat For Humanity of a specific area in Hobbs, New Mexico, is dedicated to constructing, selling, and financing housing for families with low income levels. Their primary mission is to provide affordable housing solutions, aiming to improve living conditions and promote stability for these families. Through their construction efforts, they contribute to the community by offering homes that are both sustainable and affordable. Their work also includes providing financial assistance to help eligible families secure their homes, thereby enabling them to build a better future.
Who is the CEO of Habitat For Humanity Of Hobbs Nm Area?
Jared Sloan is the Vice Preside of Habitat For Humanity Of Hobbs Nm Area.
What is the revenue of Habitat For Humanity Of Hobbs Nm Area?
Habitat For Humanity Of Hobbs Nm Area's revenue in 2022 was $1,009,871.
Who are the executives of Habitat For Humanity Of Hobbs Nm Area and what are their salaries?
The average compensation at Habitat For Humanity Of Hobbs Nm Area during 2022 was $25,010. There are 10 employees at Habitat For Humanity Of Hobbs Nm Area.
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Where can I find the form 990 for Habitat For Humanity Of Hobbs Nm Area?
Habitat For Humanity Of Hobbs Nm Area's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Habitat For Humanity Of Hobbs Nm Area
Habitat for Humanity of Hobbs NM Area is committed to a mission that involves constructing, selling, and financing homes for families with limited income. This nonprofit organization aims to make a significant impact in the lives of these families by providing them with decent and affordable housing. By carrying out this mission, Habitat for Humanity of Hobbs NM Area contributes to thewell-being and stability of the communities it serves.
The organization's mission is centered around the construction of homes for low-income families. This process involves not only building the physical structures but also ensuring that the homes are sold and financed in a way that is accessible and sustainable for the families who will live in them. By providing affordable housing, Habitat for Humanity of Hobbs NM Area enables families to focus on other essential aspects of their lives, such as securing employment and education for their children.
In summary, Habitat for Humanity of Hobbs NM Area is a dedicated nonprofit organization that works tirelessly to provide low-income families with the opportunity to own their homes. Through its mission of construction, sale, and finance of housing, the organization contributes to the overall improvement of the communities it serves, offering families a stable foundation upon which they can build better lives.
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Impact
July, 2024
Habitat For Humanity Of Hobbs NM Area has a significant impact on the community by providing construction, sale, and financing of housing to low-income families. This organization helps address the housing needs of vulnerable populations in Hobbs, NM, by offering affordable homeownership opportunities. Through their mission of providing housing solutions to those in need, they contribute to the overall welfare and stability of the community. Their work has a direct and tangible impact on improving the living conditions and quality of life for low-income families in the area.
This information is meant to be a general summary of Habitat For Humanity Of Hobbs Nm Area. 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: $5,609
- Program Service Revenue: $531,733
- Gross Receipts: $1,009,871
Assets and Liabilities:
- Total Assets: $4,895,626
- Total Liabilities: $10,437
- Net Assets: $4,885,189
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GAIN ON SALE OF HOMES
Revenue
$531,733
Organization Details
Phone
(575) 392-2221Principal Officer
Jared Sloan
Main Address
PO BOX 5833, HOBBS, NM, 88241
NTEE Category
Code: L200 - Housing
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