Overview
What is Terner Housing Innovation Labs Inc?
Terner Housing Innovation Labs Inc, also known as Terner Labs, is a nonprofit organization based in Oakland, California. Their primary mission is to promote innovation and public education to enhance housing affordability in the United States. Terner Labs operates an incubator program, providing funding, support, and resources to organizations working on housing-related projects, including building, managing, and financing housing, as well as utilizing technological platforms. This program involves a six-month course with educational opportunities, one-on-one coaching, advisor connections, business model reviews, policy navigation assistance, and capital provision. Terner Labs accepts proposals annually from both nonprofit and for-profit organizations. The organization aims to accept proposals that demonstrate an innovative approach, potential impact, budget, and personnel requirements for growth. Overall, Terner Labs serves as a hub for promoting housing affordability through private and public innovation and research.
Official website here: www.ternerlabs.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Star rating)
Terner Housing Innovation Labs Inc has demonstrated strong performance in its accountability and financial management, achieving an overall rating of 92%. The organization boasts an entirely independent board and solid financial oversight, which signifies a commitment to transparency and responsible governance. Additionally, the charity excels in areas such as program expense ratio and fundraising efficiency, indicating effective allocation of resources towards its mission.
However, there are some areas for improvement, particularly regarding the absence of a whistleblower policy and a document retention and destruction policy, both of which received low scores. Addressing these gaps could further enhance the organization's governance framework. Despite these limitations, Terner Housing Innovation Labs maintains a healthy financial standing with a low liabilities-to-assets ratio and substantial working capital, reflecting its sustainability.
Overall, Terner Housing Innovation Labs Inc stands out for its strong financial health and governance practices, making it a reliable choice for donors who prioritize transparency and effective use of funds in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Terner Housing Innovation Labs Inc legitimate?
Terner Housing Innovation Labs Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Terner Housing Innovation Labs 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: $153,140
Professional Fundraising Fees: $0
Other Salaries and Wages: $103,384
For more financial information, click here
Official website here: www.ternerlabs.org
What is the mission statement of Terner Housing Innovation Labs Inc?
Terner Housing Innovation Labs Inc's mission is centered around education and promotion of innovation to enhance housing affordability in the United States. The organization strives to foster both private and public innovation and research, with a goal of increasing access to affordable, quality housing for all. To achieve this, Terner Housing Innovation Labs Inc serves as an incubator, funding and supporting organizations that align with its mission. These organizations primarily focus on building, managing, financing housing or developing technological platforms that support these activities, all while adhering to the organization's mission. Terner Labs' incubator program provides participants with educational opportunities, coaching, advisor connections, business model reviews, assistance navigating housing policy, and necessary capital, through a 6-month program. Proposals for this program are accepted annually from both nonprofit and for-profit organizations.
Official website here: www.ternerlabs.org
Who is the CEO of Terner Housing Innovation Labs Inc?
Carol Galante is the Board Chair of Terner Housing Innovation Labs Inc. The CEO's salary of Terner Housing Innovation Labs Inc is $0 and their total compensation is $0.
Official website here: www.ternerlabs.org
What is the revenue of Terner Housing Innovation Labs Inc?
Terner Housing Innovation Labs Inc's revenue in 2022 was $1,700,786.
Official website here: www.ternerlabs.org
Who are the executives of Terner Housing Innovation Labs Inc and what are their salaries?
The average compensation at Terner Housing Innovation Labs Inc during 2022 was $128,262. There are 2 employees and 6 volunteers at Terner Housing Innovation Labs Inc.
Here are 8 key members and their salaries (Terner Housing Innovation Labs Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $54,416
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.ternerlabs.org
Where can I find the form 990 for Terner Housing Innovation Labs Inc?
Terner Housing Innovation Labs Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ternerlabs.org
Learn more at the official website: www.ternerlabs.org
Mission Statement of Terner Housing Innovation Labs Inc
Terner Housing Innovation Labs Inc is dedicated to educating the public and advocating for innovation to enhance housing affordability in the United States. Their mission is twofold: to promote both private and public innovation and research, and to increase access to affordable, high-quality housing. The organization achieves this goal by supporting organizations that align with its mission, through its incubator program. This program provides funding and growth opportunities to organizations that build, manage, and finance housing, or develop technological platforms that support these activities. Participants in Terner Labs' incubator program undergo a comprehensive six-month program, which includes educational opportunities, one-on-one coaching, mentorship with industry experts, review of their business model, assistance navigating housing policy, and access to necessary capital. Terner Housing Innovation Labs Inc accepts proposals annually from both nonprofit and for-profit organizations, requiring an executive summary, description of project goals, and a proposed strategy that outlines the innovation, impact, budget, and personnel required to grow as an organization.
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Impact
July, 2024
Terner Housing Innovation Labs Inc is playing a crucial role in addressing the issue of housing affordability in the United States. Through its Housing Lab program, the organization serves as an incubator for organizations working towards this mission. By providing funding, educational opportunities, coaching, and access to advisors, Terner Labs is helping to support and grow initiatives that build, manage, and finance housing, as well as provide technological platforms that support these activities.
By accepting proposals annually from a variety of organizations, Terner Housing Innovation Labs Inc is fostering innovation and research to increase access to quality, affordable housing for all. The impact of their work extends beyond just providing housing solutions, as they are also educating the public and promoting private and public innovation in the housing sector. Through these efforts, Terner Labs is making a tangible difference in the realm of housing affordability in the United States.
This information is meant to be a general summary of Terner Housing Innovation Labs 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.
- Gross Receipts: $1,700,786
Assets and Liabilities:
- Total Assets: $1,261,706
- Total Liabilities: $14,533
- Net Assets: $1,247,173
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Organization Details
Founding Year
2020
Phone
(510) 859-7100Principal Officer
Carol Galante
Main Address
1330 BROADWAY STE 430 MAILBOX 9, OAKLAND, CA, 94612
Website
www.ternerlabs.orgNTEE Category
Code: L05 - Housing
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