Overview
What is Marin Housing Development Corporation?
Marin Housing Development Corporation is a nonprofit organization based in San Rafael, California. Its primary mission is to support the Housing Authority of Marin County by financing and executing the acquisition, construction, rehabilitation, and equipping of rental housing for low-income individuals. The corporation currently manages a 28-unit property located in San Rafael, generating revenue primarily from rental activities. Operational expenses include management fees, salaries and benefits for a property manager, utilities, insurance, maintenance, debt service interest, and depreciation. Marin Housing Development Corporation's objective is to maintain, improve, and expand the supply of affordable housing in Marin County, California. The organization's Sundance housing development is a notable example of its initiatives.
Official website here: www.marinhousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91%, Four-Star out of Four Star rating. The Marin Housing Development Corporation demonstrates a strong commitment to accountability and finance, earning a high score based entirely on these criteria. With an overall score of 91%, it reflects the organization’s dedication to transparency and effective management of its resources.
Strengths of the organization include a fully independent board, with all eight members meeting the criteria for independence. The organization also scores perfectly on its financial audit and has no material diversion of assets, indicating sound financial practices. Furthermore, it has implemented several essential policies, such as conflict of interest and whistleblower policies, which enhance its governance framework.
However, there are areas for improvement, particularly in the liabilities to assets ratio, which stands at 56.66%. While this is a solid score, a lower ratio would indicate even better financial health. Overall, Marin Housing Development Corporation showcases strong fiscal responsibility, which is crucial for maintaining trust with its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Marin Housing Development Corporation legitimate?
Marin Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Marin Housing Development 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $38,984
For more financial information, click here
Official website here: www.marinhousing.org
What is the mission statement of Marin Housing Development Corporation?
The Marin Housing Development Corporation was established with the mission to enhance and expand the availability of affordable housing for low-income individuals. This is achieved by financing or directly engaging in the acquisition, construction, rehabilitation, and equipping of rental housing units. The corporation's endeavors are focused on sites within the County of Marin, as demonstrated by their ownership of a 28-unit property in San Rafael. In essence, Marin Housing Development Corporation's mission is to contribute to improving housing accessibility for those in need.
Official website here: www.marinhousing.org
Who is the CEO of Marin Housing Development Corporation?
Nick Zhou is the Director of Marin Housing Development Corporation.
Official website here: www.marinhousing.org
What is the revenue of Marin Housing Development Corporation?
Marin Housing Development Corporation's revenue in 2022 was $664,844.
Official website here: www.marinhousing.org
Who are the executives of Marin Housing Development Corporation and what are their salaries?
There 8 volunteers at Marin Housing Development Corporation.
Here are 7 key members and their salaries:
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Official website here: www.marinhousing.org
Where can I find the form 990 for Marin Housing Development Corporation?
Marin Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.marinhousing.org
Learn more at the official website: www.marinhousing.org
Mission Statement of Marin Housing Development Corporation
Marin Housing Development Corporation, a nonprofit entity, was established with a mission to support the Housing Authority of the County of Marin, a public body in California. Its primary objective is to assist in the acquisition, construction, rehabilitation, and equipping of rental housing for individuals of low income. This organization takes pride in its 28-unit property located in San Rafael, California, known as Sundance. The corporation's mission is centered around maintaining, improving, and expanding the supply of affordable housing in the County of Marin, California, by financing or executing the acquisition, construction, rehabilitation, remodeling, and equipping of housing units. This commitment to low-income individuals underscores Marin Housing Development Corporation's dedication to addressing housing inequality and ensuring access to affordable living spaces.
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Impact
July, 2024
Marin Housing Development Corporation's impact lies in its significant contribution to maintaining, improving, and expanding the availability of affordable housing in Marin County, California. Through its ownership of a 28-unit property in San Rafael known as Sundance, the organization provides much-needed rental housing for individuals of low-income in the region. By financing and executing the acquisition, construction, rehabilitation, and equipping of housing units, Marin Housing Development Corporation plays a crucial role in addressing the housing needs of vulnerable populations in Marin County.
This information is meant to be a general summary of Marin Housing Development 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: $2,894
- Program Service Revenue: $648,545
- Gross Receipts: $664,844
Assets and Liabilities:
- Total Assets: $2,301,661
- Total Liabilities: $1,304,159
- Net Assets: $997,502
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL ACTIVITY
Revenue
$648,545
Organization Details
Founding Year
1979
Phone
(415) 491-2525Principal Officer
Nick Zhou
Main Address
4020 CIVIC CENTER DR, SAN RAFAEL, CA, 94903
Website
www.marinhousing.orgNTEE Category
Code: L200 - Housing
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