Overview
What is Parity Baltimore Incorporated?
Parity Baltimore Incorporated is a nonprofit organization situated in Baltimore, Maryland. Their primary mission is to revitalize neglected neighborhoods in the city without causing displacement of existing residents. They accomplish this by purchasing and renovating abandoned properties, ultimately providing affordable homeownership opportunities. This approach is a response to the gentrification and displacement issues that have impacted Baltimore, aiming to promote development without leading to the displacement of local communities.
Official website here: www.parityhomes.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating.
Parity Baltimore Incorporated has achieved a solid rating of 79%, reflecting strong accountability and financial health. This score is entirely derived from the Accountability & Finance category, where the organization excels in key areas such as board independence and the absence of asset diversion. The presence of a whistleblower policy and documented board meeting minutes further enhances its transparency.
The organization boasts a fully independent board, with 100% of its members being independent, which is a significant strength. Additionally, it has a high program expense ratio of 81.06%, indicating that a substantial portion of its spending goes directly towards its programs and services. This suggests that Parity Baltimore is focused on effectively fulfilling its mission.
While the overall rating is commendable, the single beacon score indicates that potential donors may want to look deeper into the organization’s impact and effectiveness beyond financial metrics. Nonetheless, Parity Baltimore's strong governance practices and financial accountability are impressive features for stakeholders and supporters alike.
This AI summary has been generated from information found on Charity Navigator.
Is Parity Baltimore Incorporated legitimate?
Parity Baltimore Incorporated is a legitimate nonprofit organization registered as a 501(c)(3) entity. Parity Baltimore Incorporated 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: $180,698
For more financial information, click here
Official website here: www.parityhomes.com
What is the mission statement of Parity Baltimore Incorporated?
Parity Baltimore Incorporated is a response to the gentrification and displacement issues experienced in certain areas. Its mission is to promote development in these areas without causing displacement of the existing community. The organization achieves this by acquiring and rehabilitating abandoned properties, transforming them into affordable housing opportunities, thereby encouraging local ownership. This approach aims to preserve the community's identity and ensure that its residents can continue to call the area home. Parity Baltimore Incorporated is committed to fostering sustainable development that benefits both the community and its residents.
Official website here: www.parityhomes.com
Who is the CEO of Parity Baltimore Incorporated?
Bree Jones is the President of Parity Baltimore Incorporated. The CEO's salary of Parity Baltimore Incorporated is $27,083 and their total compensation is $27,083.
Official website here: www.parityhomes.com
What is the revenue of Parity Baltimore Incorporated?
Parity Baltimore Incorporated's revenue in 2022 was $1,878,510.
Official website here: www.parityhomes.com
Who are the executives of Parity Baltimore Incorporated and what are their salaries?
There 25 volunteers at Parity Baltimore Incorporated.
Here are 5 key members and their salaries (Parity Baltimore Incorporated's CEO's salary is $27,083 and their total compensation is $27,083):
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- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $27,083
- Related: $0
- Other: $0
Official website here: www.parityhomes.com
Where can I find the form 990 for Parity Baltimore Incorporated?
Parity Baltimore Incorporated's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.parityhomes.com
Learn more at the official website: www.parityhomes.com
Mission Statement of Parity Baltimore Incorporated
Parity Baltimore Incorporated is an organization that aims to address the issue of gentrification and displacement in Baltimore city. Recognizing the challenges faced by residents due to rapid development, Parity Baltimore Incorporated has set out on a mission to promote urban growth without forcing residents out of their homes. This mission is underpinned by a commitment to creating opportunities for local ownership, with the organization actively acquiring and rehabilitating abandoned properties within neighborhoods. By transforming these properties into affordable homes, Parity Baltimore Incorporated is helping to establish a sense of community and stability, ensuring that long-term residents can continue to call these areas home.
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Impact
July, 2024
Parity Baltimore Incorporated works to develop areas of Baltimore City without displacement and to create affordable homeownership opportunities. The organization acquires and rehabilitates abandoned properties by block to foster community ownership and prevent gentrification. Their mission is a response to the gentrification and displacement experienced in Baltimore, aiming to promote development without displacement and empower residents through homeownership.
This information is meant to be a general summary of Parity Baltimore Incorporated. 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: $4
- Gross Receipts: $1,878,510
Assets and Liabilities:
- Total Assets: $1,922,724
- Total Liabilities: $140,000
- Net Assets: $1,782,724
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Organization Details
Founding Year
2020
Phone
(914) 484-3130Principal Officer
Bree Jones
Main Address
1014 36TH STREET, BALTIMORE, MD, 21211
Website
www.parityhomes.comNTEE Category
Code: L25 - Housing
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