Overview
What is Homeownership Council Of America?
The Homeownership Council of America, based in Washington, D.C., is a dedicated nonprofit organization that focuses on providing technical assistance and capacity building services to Community Development Financial Institutions (CDFIs), lenders, and HUD-approved housing counseling organizations. Their primary goal is to support these organizations in delivering sustainable lending products and increasing access to credit for underprivileged homebuyers in low-income populations and other underserved communities. Through their Lender Services, they employ a team of experienced underwriters to work with mission-based organizations and CDFI's, helping them deliver high-quality mortgage underwriting and down payment assistance. The Homeownership Council of America's mission is to promote equitable access to homeownership for underserved communities in America, with a workforce of 6 dedicated individuals.
Official website here: www.homeownershipcouncil.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Stars)
The Homeownership Council of America has earned a Three-Star rating from Charity Navigator, primarily based on its accountability and financial health. The score reflects a significant emphasis on governance, with an independent board comprising 83% members, indicating strong oversight. The organization also maintains transparency with policies in place for conflict of interest, whistleblower protection, and document retention.
The fiscal year ending in 2022 shows a solid performance with a program expense ratio of 65.23%. This suggests that a substantial portion of its expenditures is directed towards its programs, though there is room for improvement to reach optimal financial efficiency. Additionally, the organization's liabilities to assets ratio stands at a low 0.81%, signaling strong financial stability.
While the organization showcases strong policies and governance, the program expense ratio could be an area for enhancement to improve its overall score. Nonetheless, the absence of any material diversion of assets highlights its commitment to integrity and responsible management of resources.
This AI summary has been generated from information found on Charity Navigator.
Is Homeownership Council Of America legitimate?
Homeownership Council Of America is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homeownership Council Of America 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: $151,625
Professional Fundraising Fees: $0
Other Salaries and Wages: $180,868
For more financial information, click here
Official website here: www.homeownershipcouncil.org
What is the mission statement of Homeownership Council Of America?
The Homeownership Council of America's mission is focused on promoting equitable access to homeownership for underserved communities in the United States. To accomplish this, they offer technical assistance and capacity building services through their CLIMB initiative. This service is designed to support lenders, CDFIs, and housing counseling organizations, enhancing their ability to provide sustainable lending products and partnerships. By doing so, the Homeownership Council of America aims to increase access to credit and homeownership opportunities for populations that traditionally face barriers. Their mission is centered around empowering these communities to become homeowners, thereby contributing to a more inclusive housing market.
Official website here: www.homeownershipcouncil.org
Who is the CEO of Homeownership Council Of America?
Gabriel Gomez Del Rio Iii is the Ceo of Homeownership Council Of America. The CEO's salary of Homeownership Council Of America is $151,625 and their total compensation is $151,625.
Official website here: www.homeownershipcouncil.org
What is the revenue of Homeownership Council Of America?
Homeownership Council Of America's revenue in 2022 was $1,106,632.
Official website here: www.homeownershipcouncil.org
Who are the executives of Homeownership Council Of America and what are their salaries?
The average compensation at Homeownership Council Of America during 2022 was $55,416. There are 6 employees and 5 volunteers at Homeownership Council Of America.
Here are 7 key members and their salaries (Homeownership Council Of America's CEO's salary is $151,625 and their total compensation is $151,625):
- Compensation: $151,625
- 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.homeownershipcouncil.org
Where can I find the form 990 for Homeownership Council Of America?
Homeownership Council Of America's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.homeownershipcouncil.org
Learn more at the official website: www.homeownershipcouncil.org
Mission Statement of Homeownership Council Of America
The Homeownership Council of America, as a nonprofit organization, is dedicated to building equitable access to homeownership for underserved communities across America. Their mission is centered around providing specialized services and industry expertise to various organizations, including Community Development Financial Institutions (CDFIs), lenders, and HUD-approved housing counseling agencies. These organizations work primarily with low-income populations and other underserved communities, aiming to increase access to credit and lending for prospective homebuyers in these groups.
To achieve its mission, the Homeownership Council of America offers a technical assistance and capacity building service called CLIMB: Community Lending Initiatives in Mortgage Banking. This service is designed to support the leadership of these organizations, helping them develop sustainable lending products, partnerships, and delivery systems. By doing so, the Homeownership Council of America aims to enhance the organizations' ability to provide high-quality mortgage underwriting and down payment assistance delivery, ultimately increasing opportunities for homeownership for underserved communities.
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Impact
July, 2024
The Homeownership Council Of America has a significant impact in the field of equitable homeownership access for underserved communities in America. Through its CLIMB program (Community Lending Initiatives in Mortgage Banking), the organization provides technical assistance and capacity building services for Community Development Financial Institutions (CDFIs), lenders, and HUD-approved housing counseling organizations working with low-income populations and other underserved communities. By offering specialized services and industry expertise, the Homeownership Council Of America supports these organizations in developing sustainable lending products, partnerships, and delivery systems that increase access to credit and lending for underserved homebuyers. Additionally, the organization's team of experienced Underwriters collaborates with mission-based organizations, nonprofit lenders, and CDFIs to ensure the highest quality mortgage underwriting and down payment assistance delivery. Through these initiatives, the Homeownership Council Of America plays a crucial role in promoting equitable homeownership opportunities for underserved populations across the country.
This information is meant to be a general summary of Homeownership Council Of America. 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: $1,017,484
- Gross Receipts: $1,106,632
Assets and Liabilities:
- Total Assets: $801,433
- Total Liabilities: $6,540
- Net Assets: $794,893
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CLIMB
Revenue
$331,600
Lender Services
Revenue
$45,450
Equity DPA
Revenue
$640,434
Organization Details
Founding Year
2006
Principal Officer
Gabriel Gomez Del Rio Iii
Main Address
712 H St NW STE 725, Washington, DC, 200023627
Website
www.homeownershipcouncil.orgNTEE Category
Code: P51 - Human services
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