Overview
What is Rosemead Housing Development Corporation?
Rosemead Housing Development Corporation is a nonprofit organization situated in Rosemead, California, specifically at 8838 E Valley Boulevard. Its primary mission is to assist the city of Rosemead, supporting the city council in managing the construction, financing, and operations of affordable housing for low to moderate-income individuals. Central to their work is the maintenance of two senior housing facilities, Angelus and Garvey, ensuring that essential living arrangements are available for the elderly population in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
The Rosemead Housing Development Corporation has received a commendable Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and finance. The charity's overall score is derived entirely from its impressive 94% Accountability & Finance Score, which indicates a robust financial management system and transparency in operations.
Key strengths of the organization include a fully independent board, with all eight members meeting the criteria for independence. The charity also excels in maintaining financial integrity, having a low liabilities-to-assets ratio of 46.91% and a program expense ratio of 75.52%, which suggests that the majority of its resources are directed toward its mission rather than administrative costs. Additionally, the organization has established essential policies, including conflict of interest and whistleblower protections, enhancing its governance framework.
While the organization demonstrates strong performance in various metrics, continued vigilance in maintaining these standards will be crucial for its ongoing success. The positive ratings suggest that donors can have confidence in the Rosemead Housing Development Corporation’s ability to use contributions effectively to support its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Rosemead Housing Development Corporation legitimate?
Rosemead Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rosemead 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: $0
For more financial information, click here
What is the mission statement of Rosemead Housing Development Corporation?
The Rosemead Housing Development Corporation's mission is to offer assistance, serving as a support system. Specifically, it aids in managing the construction, financing, and operations of low to moderate income housing. The corporation's primary objective is to assist the city council of an unspecified location, ensuring accountability in these housing projects. The corporation currently manages two senior housing facilities, namely Angelus and Garvey.
Who is the CEO of Rosemead Housing Development Corporation?
Polly Low is the Director of Rosemead Housing Development Corporation.
What is the revenue of Rosemead Housing Development Corporation?
Rosemead Housing Development Corporation's revenue in 2022 was $917,404.
Who are the executives of Rosemead Housing Development Corporation and what are their salaries?
Here are 10 key members and their salaries:
- Compensation: $0
- Related: $32,108
- Other: $4,111
- Compensation: $0
- Related: $31,853
- Other: $8,701
- Compensation: $0
- Related: $13,174
- Other: $33,879
- Compensation: $0
- Related: $6,625
- Other: $37,629
- Compensation: $0
- Related: $29,041
- Other: $12,333
- Compensation: $0
- Related: $5,324
- Other: $885
- Compensation: $0
- Related: $220,825
- Other: $141,365
- Compensation: $0
- Related: $200,655
- Other: $40,732
- Compensation: $0
- Related: $121,999
- Other: $72,709
- Compensation: $0
- Related: $129,818
- Other: $0
Where can I find the form 990 for Rosemead Housing Development Corporation?
Rosemead Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Rosemead Housing Development Corporation
Rosemead Housing Development Corporation, a nonprofit organization, is committed to providing assistance to its namesake city. Specifically, its mission involves collaborating with the Rosemead City Council to oversee the construction, financing, and operations of low- to moderate-income housing. This corporation plays a crucial role in ensuring the availability of affordable housing options in the community, contributing to the overall well-being and stability of its residents.
Currently, Rosemead Housing Development Corporation manages two senior housing facilities: Angelus and Garvey. These facilities provide essential living spaces for senior citizens within the city, promoting a sense of community and support among their residents. By maintaining these facilities, the corporation not only ensures the availability of affordable housing but also contributes to the overall quality of life for the city's elderly population.
In summary, Rosemead Housing Development Corporation is dedicated to supporting its city by providing assistance in the development, financing, and operation of affordable housing, particularly for low- to moderate-income individuals. By managing senior housing facilities such as Angelus and Garvey, the corporation enhances the living conditions and sense of community for its city's elderly population.
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Impact
July, 2024
Rosemead Housing Development Corporation plays a vital role in providing assistance to the city of Rosemead by maintaining the Angelus and Garvey senior housing facilities. These facilities cater to low to moderate-income individuals, offering them affordable and safe housing options. The corporation's impact is significant as it addresses the housing needs of vulnerable populations in Rosemead, contributing to the overall well-being and stability of the community. By focusing on the construction, financing, and operations of housing for those in need, the corporation plays a crucial role in ensuring that residents have access to suitable living arrangements.
This information is meant to be a general summary of Rosemead 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: $7,981
- Program Service Revenue: $474,233
- Gross Receipts: $917,404
Assets and Liabilities:
- Total Assets: $12,440,516
- Total Liabilities: $5,793,324
- Net Assets: $6,647,192
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$474,233
Organization Details
Founding Year
1992
Phone
(626) 569-2120Principal Officer
Polly Low
Main Address
8838 E VALLEY BOULEVARD, ROSEMEAD, CA, 91770
NTEE Category
Code: L220 - Housing
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