Overview
What is Innovative Housing Inc?
Innovative Housing Inc, based in Portland, Oregon, is a nonprofit organization with a significant presence in the city. With a workforce of 20 individuals, their primary mission is to develop, preserve, and operate affordable housing units for low and moderate-income households. Beyond property ownership, they also manage 425 rental units spread across ten different locations in the Portland area. Their purpose extends beyond just providing housing; they aim to enhance the quality of life for their residents, fostering stability and working towards breaking the cycle of poverty. They accomplish this through various resident services, which help maintain housing stability and improve overall well-being.
Official website here: www.innovativehousinginc.com
What are the reviews and ratings of this charity?
Innovative Housing Inc has received an impressive Four-Star out of Four Star rating from Charity Navigator, with an overall score of 92%. This high score reflects the organization's strong accountability and financial health, highlighted by perfect scores in several areas, including independent board governance and financial oversight.
The charity's commitment to transparency is evident, as all board members are independent, and their financial statements are thoroughly audited. Furthermore, with a program expense ratio of 96.58%, the organization allocates a significant majority of its resources directly to its programs, demonstrating a focus on maximizing impact rather than administrative costs.
However, it is worth noting that some important policies, like the whistleblower and document retention policies, are currently missing, which are essential for ensuring robust internal governance. Additionally, Innovative Housing Inc. has not been evaluated in terms of their impact measurement, culture, community involvement, and leadership adaptability, indicating areas for potential improvement in transparency.
User reviews from GreatNonprofits could not be fetched.
This AI summary has been generated from information found on Charity Navigator.
Is Innovative Housing Inc legitimate?
Innovative Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Innovative Housing 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: $170,372
Professional Fundraising Fees: $0
Other Salaries and Wages: $896,807
For more financial information, click here
Official website here: www.innovativehousinginc.com
What is the mission statement of Innovative Housing Inc?
Innovative Housing Inc's mission is centered around developing, preserving, and managing affordable housing for low and moderate-income households. Their primary goal is to provide essential services to residents, aiming to ensure housing stability, enhance the quality of life, and ultimately break the cycle of poverty. By offering these services, Innovative Housing Inc seeks to contribute to the well-being of its residents and help them overcome financial challenges. The organization directly owns and manages 425 affordable rental units across various properties.
Official website here: www.innovativehousinginc.com
Who is the CEO of Innovative Housing Inc?
Sarah Stevenson is the Executive Director of Innovative Housing Inc.
Official website here: www.innovativehousinginc.com
What is the revenue of Innovative Housing Inc?
Innovative Housing Inc's revenue in 2022 was $7,538,206.
Official website here: www.innovativehousinginc.com
Who are the executives of Innovative Housing Inc and what are their salaries?
The average compensation at Innovative Housing Inc during 2022 was $53,359. There are 20 employees at Innovative Housing Inc.
Here are 7 key members and their salaries:
- Compensation: $154,583
- Related: $0
- Other: $15,789
- Compensation: $130,000
- Related: $0
- Other: $14,452
- 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.innovativehousinginc.com
Where can I find the form 990 for Innovative Housing Inc?
Innovative Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.innovativehousinginc.com
Learn more at the official website: www.innovativehousinginc.com
Mission Statement of Innovative Housing Inc
Innovative Housing Inc, a nonprofit organization, is committed to developing, preserving, and operating affordable housing units for low and moderate-income households. Their mission extends beyond merely providing housing; they also aim to provide services to residents to ensure housing stability, enhance the quality of life, and break the cycle of poverty. By doing so, Innovative Housing Inc seeks to create a lasting impact in the lives of its residents, empowering them to overcome their challenges and build a better future. Through their efforts, they directly own 425 affordable rental units across ten properties in the Portland area, demonstrating their dedication to making a difference in the lives of those in need.
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Impact
July, 2024
Innovative Housing Inc's impact lies in the development, preservation, and operation of affordable housing for low and moderate-income households. By providing services to residents aimed at maintaining housing stability, improving quality of life, and breaking the cycle of poverty, Innovative Housing Inc directly contributes to addressing the pressing issue of housing affordability in the Portland, Oregon area. Through their ownership of 425 affordable rental units across ten properties, they are making a tangible difference in the lives of individuals and families in need. Their mission to create and sustain affordable housing opportunities underscores their commitment to supporting those most vulnerable in the community.
This information is meant to be a general summary of Innovative Housing 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.
- Investment Income: $838,929
- Program Service Revenue: $6,583,406
- Gross Receipts: $7,538,206
Assets and Liabilities:
- Total Assets: $64,094,123
- Total Liabilities: $25,324,095
- Net Assets: $38,770,028
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Property Ownership
Revenue
$4,781,507
Housing Development
Revenue
$1,040,000
Resident Services
Revenue
$251,721
Asset Management
Revenue
$181,061
Organization Details
Founding Year
1984
Principal Officer
Sarah Stevenson
Main Address
219 NW 2nd Ave, Portland, OR, 97209
Website
www.innovativehousinginc.comNTEE Category
Code: L21Z - Housing
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