Overview
What is Forward Communities Inc?
Forward Communities Inc is a nonprofit organization situated in San Antonio, Texas. Their primary mission is to empower communities, ensuring that residents can affordably and dignifiedly reside in their homes. This is achieved principally by offering financing for homeownership to individuals and families with moderate to low incomes. In 2022, they provided down payment assistance to one household in Texas under their Homeownership Program, offering a Community Second mortgage. Adhering to the eligibility criteria set by Fannie Mae, this program aims to mitigate the affordability crisis that often prevents low- to moderate-income families from becoming homeowners. Participants also undergo financial capacity-building programs to aid their transition to successful homeownership.
Is Forward Communities Inc legitimate?
Forward Communities Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Forward Communities 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:
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What is the mission statement of Forward Communities Inc?
Forward Communities Inc's mission is centered around supporting communities, ensuring that residents, particularly those of lower to moderate income, can affordably and dignifiedly reside in their homes. This is primarily achieved through the provision of financing for home ownership. The organization is actively engaged in programs aimed at combating the growing affordability crisis that often prevents low-to-moderate income families from becoming homeowners.
Under its Homeownership Program, Forward Communities provides a Community Second mortgage to eligible first-time homebuyers in Texas. Participants must meet additional eligibility requirements based on need, fiscal responsibility, and commitment to the program. This program is specifically designed to address the affordability crisis in homeownership. Furthermore, homebuyers are enrolled in financial-capacity building programs that help them succeed as homeowners.
Who is the CEO of Forward Communities Inc?
Natalie Jansen is the Director of Forward Communities Inc.
What is the revenue of Forward Communities Inc?
Forward Communities Inc's revenue in 2022 was $220,005.
Who are the executives of Forward Communities Inc and what are their salaries?
There 7 volunteers at Forward Communities Inc.
Here are 4 key members and their salaries:
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Where can I find the form 990 for Forward Communities Inc?
Forward Communities Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Forward Communities Inc
Forward Communities Inc, a nonprofit organization, is dedicated to supporting communities where everyone can reside affordably and with dignity. Its primary mission is achieved through the provision of financing for home ownership to individuals and families with moderate to low incomes. This organization aims to combat the escalating affordability crisis that is pushing low-income families out of homeownership.
Under the auspices of its Homeownership Program, Forward Communities Inc offers Community Second mortgages to first-time homebuyers purchasing their primary residences in Texas. These program participants must meet specific eligibility requirements set by Fannie Mae, as well as additional criteria based on financial need, responsibility, and commitment to the program. This initiative is designed explicitly to tackle the affordability crisis in homeownership. Furthermore, homebuyers enrolled in this program are required to participate in financial-capacity building programs, which are intended to equip them with the necessary skills to thrive as homeowners.
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Impact
October, 2024
Forward Communities Inc. plays a crucial role in addressing the housing affordability crisis by enabling low- to moderate-income individuals and families to achieve homeownership. Through its Homeownership Program, the organization provides essential financial support, such as Community Second mortgages, which facilitate down payment assistance for first-time homebuyers. This strategy directly combats the barriers that often prevent these families from securing stable and affordable housing.
By focusing on financial-capacity building, Forward Communities ensures that program participants not only obtain the necessary funding but also develop the skills and knowledge to thrive as homeowners. This holistic approach fosters greater financial responsibility and promotes long-term stability within the community.
In 2022, Forward Communities assisted a household in Texas with down payment support, underscoring its commitment to making homeownership accessible. The necessity for such programs is highlighted by the ongoing challenges faced by low- to moderate-income families, who increasingly find themselves priced out of the housing market. Through its targeted efforts, Forward Communities Inc. is making a significant impact by empowering families to achieve the dream of homeownership, contributing to stronger, more resilient communities.
This information is meant to be a general summary of Forward Communities 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: $220,005
Assets and Liabilities:
- Total Assets: $219,861
- Total Liabilities: $0
- Net Assets: $219,861
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Organization Details
Founding Year
2021
Phone
(304) 394-4752Principal Officer
Natalie Jansen
Main Address
137 Evans Avenue, San Antonio, TX, 78209
NTEE Category
Code: L82 - Housing
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