Overview
What is The Yamhill County Affordable Housing Corporation?
The Yamhill County Affordable Housing Corporation (YCAHC) is a nonprofit organization situated in McMinnville, Oregon. Its primary mission is to provide opportunities for maintaining and developing safe, decent, and affordable housing for low-income residents. The corporation serves this purpose by administering and managing funds covered by the Oregon Community Development Block Grants. YCAHC offers loans to qualifying individuals to help them rehabilitate their homes, and the repaid loan funds can be utilized for purchasing, rehabilitating, and selling homes to low to moderate income citizens. As of September 30, 2022, the organization had serviced existing loans and made new ones, totalling $3,051,914. Additionally, YCAHC has used federalized funds to purchase houses in Yamhill County, with the intention of rehabilitating and selling them to participants in the Housing Authority of Yamhill County's Family Self-Sufficiency Program. The organization is currently engaged in construction projects, with a total in progress of $29,054.
Official website here: www.hayc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%, Four-Star out of Four Star rating.
The Yamhill County Affordable Housing Corporation has demonstrated strong performance in accountability and finance, earning a Four-Star rating from Charity Navigator. The charity has a high program expense ratio of 88.74%, indicating that a significant majority of its expenditures are directed toward its mission of providing affordable housing. Additionally, the organization is governed by a fully independent board, showcasing its commitment to ethical oversight and governance.
The charity scored perfectly in multiple areas, including having no material diversion of assets and ensuring proper documentation of board meeting minutes. However, it was noted that the organization lacks a whistleblower policy, which could be a potential area for improvement in terms of transparency and protecting staff and stakeholders.
Overall, the Yamhill County Affordable Housing Corporation appears to be a well-managed nonprofit focused on accountability, although it would benefit from addressing the absence of a whistleblower policy to further enhance its governance framework.
This AI summary has been generated from information found on Charity Navigator.
Is The Yamhill County Affordable Housing Corporation legitimate?
The Yamhill County Affordable Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Yamhill County Affordable Housing Corporation 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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Official website here: www.hayc.org
What is the mission statement of The Yamhill County Affordable Housing Corporation?
The Yamhill County Affordable Housing Corporation, as a nonprofit organization, is committed to providing opportunities to maintain or develop safe and decent housing for low-income residents. This is achieved through the administration and management of funds covered by the Oregon Community Development Block Grants. Grant funds are loaned to low and moderate-income residents to rehabilitate their housing. Once repaid, the loan funds can be utilized by the corporation to purchase, rehabilitate, and sell housing to eligible citizens, further contributing to the provision of affordable housing. In essence, the corporation's mission is to enhance housing accessibility and affordability for the less financially privileged section of the society.
Official website here: www.hayc.org
Who is the CEO of The Yamhill County Affordable Housing Corporation?
Vickie Ybarguen is the President (Through October 2021) of The Yamhill County Affordable Housing Corporation.
Official website here: www.hayc.org
What is the revenue of The Yamhill County Affordable Housing Corporation?
The Yamhill County Affordable Housing Corporation's revenue in 2022 was $132,794.
Official website here: www.hayc.org
Who are the executives of The Yamhill County Affordable Housing Corporation and what are their salaries?
There 8 volunteers at The Yamhill County Affordable Housing Corporation.
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Official website here: www.hayc.org
Where can I find the form 990 for The Yamhill County Affordable Housing Corporation?
The Yamhill County Affordable Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hayc.org
Learn more at the official website: www.hayc.org
Mission Statement of The Yamhill County Affordable Housing Corporation
The Yamhill County Affordable Housing Corporation, a nonprofit organization, is established with the mission to create opportunities for maintaining and developing safe, decent, affordable housing for low-income residents. In this role, the corporation acts as an agent for administering and managing funds covered by the Oregon Community Development Block Grants. This funding is loaned to individuals with low and moderate incomes, enabling them to rehabilitate their existing housing. Once these loans are repaid, the repaid funds can be utilized by the corporation to purchase, rehabilitate, and subsequently sell housing units to residents with similar income levels. In summary, The Yamhill County Affordable Housing Corporation's mission is centered around improving the living conditions and providing affordable housing options to low-income individuals and families in their community.
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Impact
October, 2024
The Yamhill County Affordable Housing Corporation significantly impacts the community by providing opportunities to maintain or develop safe, decent, and affordable housing for low-income residents. By servicing existing loans and facilitating new ones, the organization maintains an impressive total ending balance of $3,051,914 dedicated to rehabilitating and conserving housing for those in need.
Its proactive approach includes purchasing houses in Yamhill County with defederalized funds, aiming to rehabilitate and sell these properties to participants in the Housing Authority of Yamhill County's Family Self-Sufficiency Program. This initiative not only enhances the housing stock but also empowers low- to moderate-income families toward sustainable living.
As of September 30, 2022, the ongoing construction projects totaled $29,054, indicating a commitment to continual improvement and development within the community. By administering and managing funds from the Oregon Community Development Block Grants, the organization effectively allocates resources to support residents in achieving safer and more affordable living conditions, thereby contributing to the overall vitality and well-being of Yamhill County.
This information is meant to be a general summary of The Yamhill County Affordable Housing Corporation. 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: $11,091
- Gross Receipts: $132,794
Assets and Liabilities:
- Total Assets: $4,151,782
- Total Liabilities: $237,801
- Net Assets: $3,913,981
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Organization Details
Founding Year
2001
Phone
(503) 883-4300Principal Officer
Vickie Ybarguen
Main Address
135 NE DUNN PLACE, MCMINNVILLE, OR, 97128
Website
www.hayc.orgNTEE Category
Code: L25 - Housing
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