Overview
What is Good Samaritans Home Equity?
Good Samaritans Home Equity is a nonprofit organization based in Kansas City, Missouri, with a focus on assisting aspiring low-income individuals to gain wealth through homeownership. They achieve this by collaborating with existing organizations that have already guided participants towards financial stability. The organization has identified two districts in Kansas City with high growth and appreciation potential for real estate opportunities. Additionally, they have established banking relationships and partnerships to lower the cost of ownership and acquisition, and have created a mechanism for accumulating funds for down-payment assistance from monthly rent payments. Good Samaritans Home Equity is currently in its startup phase, building on three core competencies in partnership with other agencies and key members on their board.
Is Good Samaritans Home Equity legitimate?
Good Samaritans Home Equity is a legitimate nonprofit organization registered as a 501(c)(3) entity. Good Samaritans Home Equity 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.
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What is the mission statement of Good Samaritans Home Equity?
Good Samaritans Home Equity's mission is to assist aspiring individuals who are nearing the threshold of escaping poverty by facilitating homeownership. They achieve this goal through collaborations with existing organizations that have already supported participants on their journey towards financial stability. The organization is currently in its early stages, actively developing three key competencies in partnership with other agencies and key members on their board and collaborators. These competencies include identifying real estate opportunities with high growth and appreciation potential, securing financing and construction partners to offer lower ownership and acquisition costs, and establishing a mechanism to accumulate monthly rent payments for down-payment assistance.
Who is the CEO of Good Samaritans Home Equity?
James Mullin is the President of Good Samaritans Home Equity.
What is the revenue of Good Samaritans Home Equity?
Good Samaritans Home Equity's revenue in 2022 was $200,113.
Who are the executives of Good Samaritans Home Equity and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Good Samaritans Home Equity?
Good Samaritans Home Equity's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Good Samaritans Home Equity
Good Samaritans Home Equity, a start-up nonprofit organization, aims to empower aspiring individuals living in poverty to acquire the wealth inherent in homeownership. The organization achieves this by forming partnerships with existing organizations that have previously guided participants towards financial stability. Their mission is to provide an opportunity for these individuals to attain homeownership, which is often a significant step towards escaping poverty.
Good Samaritans Home Equity has identified two key districts in Kansas City, Missouri, with above-average growth and appreciation potential. By partnering with financial institutions and construction companies, the organization strives to lower the cost of ownership and acquisition for these individuals. Furthermore, they have developed a mechanism whereby the funds used for monthly rent can be accumulated for future down-payment assistance. This innovative approach allows participants to gradually build equity in their homes, further enhancing their financial stability.
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Impact
October, 2024
Good Samaritans Home Equity significantly impacts aspiring homeowners by facilitating access to homeownership for those in financial need. By identifying strategic real estate opportunities in key districts of Kansas City, Missouri, the organization enables participants to realize wealth accumulation inherent in owning property.
Through partnerships with existing organizations that have guided participants through their journey out of poverty, Good Samaritans Home Equity fosters a collaborative approach that enhances support and resources available to aspiring homeowners. These alliances help navigate the complexities of the housing market, ensuring that individuals are better prepared for the responsibilities of ownership.
The organization also focuses on reducing barriers to homeownership by establishing relationships with financing and construction partners. These partnerships lead to lower costs for acquisition and ownership, ultimately increasing affordability for its participants. Furthermore, Good Samaritans Home Equity has developed a unique mechanism that allows funds previously allocated for rent to be redirected towards down-payment assistance, providing an innovative solution to help individuals transition from renting to owning.
In summary, Good Samaritans Home Equity serves as a vital resource for those seeking to break the cycle of poverty through homeownership, empowering individuals to build wealth and stability for themselves and their families.
This information is meant to be a general summary of Good Samaritans Home Equity. 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: $13
- Gross Receipts: $200,113
Assets and Liabilities:
- Total Assets: $138,185
- Total Liabilities: $0
- Net Assets: $138,185
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Organization Details
Founding Year
2021
Phone
(913) 603-5950Principal Officer
James Mullin
Main Address
800 E 101ST TER, KANSAS CITY, MO, 641315310
NTEE Category
Code: L01 - Housing
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