Overview
What is River Community Homes Inc?
River Community Homes Inc is a nonprofit organization based in Arcata, California, located at 1061 Hallen Drive. The organization's primary focus is on providing cooperative housing opportunities for low-income individuals, the elderly, and those with disabilities. Funding for this housing development comes from the residents themselves, ensuring the continuation of services under the Housing Assistance Payments Program, which is a section of the U.S. Housing Act of 1937, administered by the U.S. Department of Housing and Urban Development (HUD) and the California Housing Finance Agency. This program mandates assistance, although not full subsidy, for the needy recipients of the housing development services. With approximately 70% of its annual support coming from this program, River Community Homes Inc is dedicated to offering affordable, supportive living options for its residents. The organization employs a modest workforce of two individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, earning a Two-Star out of Four Star rating. River Community Homes Inc demonstrates strong accountability regarding board independence and financial transparency, scoring 100% on independent board members and receiving full points for its financial audit. Additionally, the organization shows a commitment to its programs with a program expense ratio of 91.77%, indicating that a significant portion of its resources is directed towards its mission.
However, the nonprofit faces notable challenges in its accountability practices, as indicated by a lack of documented policies such as a conflict of interest policy and a whistleblower policy, which were marked missing in the evaluation. Furthermore, the organization holds a high liabilities to assets ratio of 79.18%, which may raise concerns about financial sustainability and risk management.
Overall, while River Community Homes Inc excels in certain areas of financial management and program focus, it needs to address its governance and policy deficiencies to enhance its overall accountability and improve its rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is River Community Homes Inc legitimate?
River Community Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. River Community Homes 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $75,539
For more financial information, click here
What is the mission statement of River Community Homes Inc?
River Community Homes Inc's mission is centered around providing cooperative housing for individuals who fall under low-income categories, the elderly, and those with disabilities. The organization's housing development is specifically designed to cater to these groups. The revenue for these services primarily comes from the residents themselves, enabling the continuation of services under the Housing Assistance Payments Program, a part of the U.S. Housing Act of 1937, administered by HUD and the California Housing Finance Agency. This program provides assistance, although not full subsidy, to the beneficiaries of the housing development services. Approximately 70% of the corporation's annual support is covered by the Housing Assistance Payments for the 40-unit Limited Equity Housing Co-op.
Who is the CEO of River Community Homes Inc?
Jamie Falicki is the President of River Community Homes Inc.
What is the revenue of River Community Homes Inc?
River Community Homes Inc's revenue in 2022 was $580,409.
Who are the executives of River Community Homes Inc and what are their salaries?
The average compensation at River Community Homes Inc during 2022 was $37,770. There are 2 employees and 7 volunteers at River Community Homes Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for River Community Homes Inc?
River Community Homes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of River Community Homes Inc
River Community Homes Inc is devoted to providing cooperative housing for individuals who fall under low-income, elderly, and disabled categories. Their mission is centered around creating a housing development specifically designed to cater to these groups, ensuring they have a comfortable living space. The revenue for these services primarily comes from the residents themselves, enabling the continuation of services to them. This is facilitated through the Housing Assistance Payments Program, a component of Section 8 of the U.S. Housing Act of 1937, which is administered by the U.S. Department of Housing and Urban Development (HUD) and the California Housing Finance Agency. This program mandates assistance, although it may not offer full subsidies to the needy residents of the housing development services. River Community Homes Inc's housing assistance payments account for approximately 70% of their annual support, demonstrating their commitment to serving their community.
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Impact
July, 2024
River Community Homes Inc provides essential cooperative housing for low-income, elderly, and handicapped individuals in Arcata, CA. This housing development is specifically designed to cater to the needs of lower-income families, the disabled, and senior citizens. The organization's services are funded by the residents themselves, allowing for the continuation of crucial support programs. Through the Housing Assistance Payments Program, administered by the Department of Housing and Urban Development (HUD) and the California Housing Finance Agency, River Community Homes Inc ensures that those in need receive necessary assistance without full subsidy. The 40-unit limited equity housing co-op supported by the corporation offers vital services that constitute around 70% of the organization's annual support. River Community Homes Inc's impact is significant as it provides a safe and affordable living environment for vulnerable members of the community, helping to improve their quality of life and overall well-being.
This information is meant to be a general summary of River Community Homes 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: $3,965
- Program Service Revenue: $147,616
- Gross Receipts: $580,409
Assets and Liabilities:
- Total Assets: $2,463,667
- Total Liabilities: $1,950,839
- Net Assets: $512,828
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$140,982
LAUNDRY AND VENDING RE
Revenue
$5,137
TENANT CHARGES
Revenue
$1,239
MISCELLANEOUS
Revenue
$258
Organization Details
Founding Year
1982
Phone
(707) 822-7816Principal Officer
Jamie Falicki
Main Address
1061 HALLEN DRIVE, ARCATA, CA, 95521
NTEE Category
Code: L21Z - Housing
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