Overview
What is Hip Housing Development Corporation?
The Hip Housing Development Corporation is a nonprofit organization located in San Mateo, California. With a workforce of only three employees, this corporation addresses the housing needs of the disadvantaged, elderly, and those with physical or mental disabilities in San Mateo County. Their mission is to improve and alleviate the housing conditions of these individuals whose needs are not adequately met. They accomplish this by operating 13 apartment buildings, providing a total of 140 units for low and moderate-income residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Hip Housing Development Corporation has received a two-star rating from Charity Navigator, indicating the organization needs improvement in certain areas. While it excels in accountability and finance, boasting a perfect score of 100% in that category, its financial health raises concerns. The organization has a negative working capital ratio, indicating potential issues with liquidity, and a high liabilities to assets ratio, which may affect its stability.
User feedback, particularly from board members, highlights the organization's significant impact on the community, especially in empowering individuals and families toward self-sufficiency. The reviews emphasize the effectiveness of its housing and career development programs and commend its fiscal responsibility and talented staff. These testimonials suggest that despite financial challenges, the organization plays a crucial role in serving the San Mateo County community for over 40 years.
However, the negative financial indicators noted by Charity Navigator indicate that Hip Housing may face challenges in sustaining its operations in the long term. While the organization has strong governance policies in place, the concerns regarding its financial ratios suggest it needs to address its fiscal health to continue delivering its impactful programs effectively.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Hip Housing Development Corporation legitimate?
Hip Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hip 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: $68,833
Professional Fundraising Fees: $0
Other Salaries and Wages: $282,588
For more financial information, click here
What is the mission statement of Hip Housing Development Corporation?
The Hip Housing Development Corporation aims to improve and alleviate the housing conditions of those in need, including physically or mentally handicapped individuals, elderly persons, and others whose housing requirements are inadequately met. The corporation's mission is to address housing disparities in the community, providing accommodations for individuals with low and moderate income. The organization operates 13 apartment buildings consisting of 140 units, offering shelter and a sense of stability for those who require it most. By focusing on enhancing the housing situation for these vulnerable populations, the Hip Housing Development Corporation strives to make a positive difference in people's lives. The organization's commitment to providing housing for those in need not only improves their present circumstances but also contributes to their overall well-being and long-term security.
Who is the CEO of Hip Housing Development Corporation?
Kate Comfort Harr is the Executive Dir. of Hip Housing Development Corporation.
What is the revenue of Hip Housing Development Corporation?
Hip Housing Development Corporation's revenue in 2022 was $17,027,307.
Who are the executives of Hip Housing Development Corporation and what are their salaries?
The average compensation at Hip Housing Development Corporation during 2022 was $117,140. There are 3 employees at Hip Housing Development Corporation.
Here are 7 key members and their salaries:
- Compensation: $68,833
- Related: $117,966
- Other: $22,495
- Compensation: $0
- Related: $137,458
- Other: $13,647
- 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
Where can I find the form 990 for Hip Housing Development Corporation?
Hip Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hip Housing Development Corporation
Hip Housing Development Corporation, a renowned nonprofit organization, is dedicated to enhancing the housing conditions of those in need, particularly the physically or mentally handicapped, elderly persons, and others whose housing requirements are not being sufficiently met in San Mateo County, California. The corporation's mission is twofold: to alleviate and improve the housing situation for these vulnerable individuals.
The Hip Housing Development Corporation's primary focus is on providing adequate housing for low and moderate-income residents. To achieve this, the organization operates thirteen apartment buildings in San Mateo County, housing a total of 140 units. By offering these affordable living spaces, the corporation ensures that individuals who might otherwise struggle to secure suitable housing are provided with a safe and comfortable environment in which to live.
In summary, the Hip Housing Development Corporation is a vital resource in the community, dedicated to improving the lives of the needy, elderly, and disabled by addressing their housing needs. Through the operation of its thirteen apartment buildings, the corporation provides a critical service, enabling these individuals to live with dignity and security.
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Impact
October, 2024
Hip Housing Development Corporation significantly enhances the living conditions of vulnerable populations in San Mateo County, California. By operating thirteen apartment buildings that provide a total of 140 units, it addresses the pressing housing needs of low- and moderate-income individuals, including the elderly and those with physical or mental disabilities.
Their commitment to improving housing accessibility ensures that those whose needs are often overlooked have safe, stable, and affordable places to live. This initiative not only alleviates immediate housing challenges but also fosters a sense of community and stability for residents, ultimately contributing to better quality of life and increased well-being among the underserved populations in the area.
This information is meant to be a general summary of Hip 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: $230,760
- Program Service Revenue: $2,158,854
- Gross Receipts: $17,611,770
Assets and Liabilities:
- Total Assets: $30,487,933
- Total Liabilities: $34,629,313
- Net Assets: -$4,141,380
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEES
Revenue
$65,294
LAUNDRY & TENANT CHARGES
Revenue
$35,841
MISCELLANEOUS INCOME
Revenue
$8,672
PARTNERSHIP MGMT FEES
Revenue
$59,883
TENANT RENTAL INCOME
Revenue
$1,988,985
Organization Details
Founding Year
1992
Phone
(650) 348-6660Principal Officer
Kate Comfort Harr
Main Address
800 S Claremont St Suite 210, San Mateo, CA, 94402
NTEE Category
Code: L300 - Housing
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