Overview
What is Corona Crescent Inc?
Corona Crescent Inc is a nonprofit organization situated in Hayward, California, predominantly functioning as a managing general partner. Their primary focus is on overseeing a low-income housing project, which they own and manage. The organization excels in the areas of housing development, construction, and management, ensuring the provision of affordable living spaces for their residents.
Official website here: www.edenhousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (57%)
Corona Crescent Inc has received a One-Star rating from Charity Navigator, which indicates significant concerns regarding its accountability and financial performance. The organization scored 57% overall, reflecting strengths in governance practices, such as a fully independent board and the presence of key policies. However, the financial metrics raise substantial red flags, particularly with a program expense ratio of just 1.88%, suggesting a minimal portion of its funding is directed towards its stated charitable activities.
While the organization demonstrates strong governance by maintaining a completely independent board and having no material diversion of assets, the financial health indicators reveal severe limitations. The liabilities to assets ratio is extraordinarily high at 127,500%, which could indicate potential financial instability or mismanagement. Furthermore, essential documents like the tax form are not adequately posted on their website, which detracts from transparency.
Overall, while Corona Crescent Inc has established policies that promote accountability, its financial practices require critical improvement to better serve its mission and enhance donor confidence. Without addressing these financial issues, the organization may struggle to achieve its goals effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Corona Crescent Inc legitimate?
Corona Crescent Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Corona Crescent Inc submitted a form 990EZ, 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.
Official website here: www.edenhousing.org
What is the mission statement of Corona Crescent Inc?
Corona Crescent Inc, serving as a managing general partner, is primarily focused on the realm of low-income housing. The organization is actively engaged in the development, construction, and management of such projects. Their mission, in essence, revolves around providing affordable housing solutions, ensuring the well-being and comfort of the residents. Corona Crescent Inc's activities encompass more than just housing; they also manage these projects, ensuring they run smoothly and meet the needs of their residents effectively.
Official website here: www.edenhousing.org
Who is the CEO of Corona Crescent Inc?
Unavailable
Official website here: www.edenhousing.org
What is the revenue of Corona Crescent Inc?
Corona Crescent Inc's revenue in 2022 was $355.
Official website here: www.edenhousing.org
Who are the executives of Corona Crescent Inc and what are their salaries?
Here are 12 key members and their salaries:
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Official website here: www.edenhousing.org
Where can I find the form 990EZ for Corona Crescent Inc?
Corona Crescent Inc's most recent form 990EZ was submitted in 2022 and can be accessed here.
Official website here: www.edenhousing.org
Learn more at the official website: www.edenhousing.org
Mission Statement of Corona Crescent Inc
Corona Crescent Inc, as a managing general partner, is dedicated to providing affordable housing solutions for individuals within the low-income bracket. The organization specializes in housing development, construction, and management, ensuring that these essential services are delivered with excellence. By owning and operating a low-income housing project, Corona Crescent Inc contributes to the well-being and stability of its community members, providing them with a secure living environment.
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Impact
October, 2024
Corona Crescent Inc plays a vital role in addressing the pressing need for affordable housing in Hayward, CA. By managing and operating a low-income housing project, the organization directly contributes to the provision of safe and stable living conditions for low-income families and individuals in the community.
The focus on housing development, construction, and management allows Corona Crescent Inc to create and maintain housing that meets the specific needs of its residents. This effort not only supports individual households but also strengthens the broader community by promoting stability, reducing homelessness, and fostering economic development. By ensuring access to affordable housing options, Corona Crescent Inc enhances the quality of life for many residents and addresses a critical societal issue.
This information is meant to be a general summary of Corona Crescent 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.
- Gross Receipts: $355
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $1,675
- Net Assets: -$1,675
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Organization Details
Phone
(510) 582-1460Main Address
22645 GRAND STREET, HAYWARD, CA, 94541
Website
www.edenhousing.orgNTEE Category
Code: L80Z - Housing
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