Overview
What is Heritage Housing Partners?
Heritage Housing Partners is a nonprofit organization based in Pasadena, California, specifically located at 608 North Fair Oaks Avenue 126. Their primary mission is to promote historic preservation and neighborhood revitalization by developing, owning, and operating low-income housing properties for sale or rent. This organization has made significant contributions to the community by working on the predevelopment, rehabilitation, and construction of over 250 housing units, primarily targeting first-time low to moderate income home buyers in Pasadena. With a dedicated team of seven employees, Heritage Housing Partners continues to contribute to the community by providing affordable housing options and fostering neighborhood development.
Official website here: www.heritagehousingpartners.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Heritage Housing Partners has earned a Three-Star rating from Charity Navigator, reflecting an overall score of 81%. This score is solely derived from their Accountability & Finance metrics, which indicates a strong commitment to financial transparency and governance. The organization has maintained a high level of accountability, achieving perfect scores in multiple categories, including a fully independent board and comprehensive financial oversight.
The nonprofit's strengths include its 98.02% program expense ratio, demonstrating that a significant portion of its funding is directed toward its programs rather than administrative costs. Additionally, Heritage Housing Partners has implemented essential policies, such as conflict of interest and whistleblower protections, which contribute to its strong governance framework. The presence of robust audit and oversight mechanisms further reinforces the organization’s dedication to financial integrity.
However, a notable limitation is reflected in its liabilities to assets ratio, which stands at 116.03%. This indicates that the organization has more liabilities than assets, potentially raising concerns regarding financial stability. Overall, while Heritage Housing Partners showcases commendable accountability practices, attention to its financial health is warranted as it moves forward.
This AI summary has been generated from information found on Charity Navigator.
Is Heritage Housing Partners legitimate?
Heritage Housing Partners is a legitimate nonprofit organization registered as a 501(c)(3) entity. Heritage Housing Partners 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: $149,063
Professional Fundraising Fees: $0
Other Salaries and Wages: $352,551
For more financial information, click here
Official website here: www.heritagehousingpartners.org
What is the mission statement of Heritage Housing Partners?
Heritage Housing Partners is dedicated to promoting historic preservation and neighborhood revitalization. They achieve this by developing, owning, and operating rental or for-sale low-income housing properties. The organization's mission is to contribute to the betterment of communities by providing affordable housing options for individuals in need. Through predevelopment, rehabilitation, and new construction projects, Heritage Housing Partners has successfully developed over 250 housing units, primarily for first-time low to moderate income homebuyers. Their work in Pasadena, California, has played a significant role in enhancing the local community.
Official website here: www.heritagehousingpartners.org
Who is the CEO of Heritage Housing Partners?
Charles E Loveman Jr is the President of Heritage Housing Partners.
Official website here: www.heritagehousingpartners.org
What is the revenue of Heritage Housing Partners?
Heritage Housing Partners's revenue in 2022 was $1,790,509.
Official website here: www.heritagehousingpartners.org
Who are the executives of Heritage Housing Partners and what are their salaries?
The average compensation at Heritage Housing Partners during 2022 was $71,659. There are 7 employees and 10 volunteers at Heritage Housing Partners.
Here are 11 key members and their salaries:
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- Compensation: $144,862
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- Other: $4,200
Official website here: www.heritagehousingpartners.org
Where can I find the form 990 for Heritage Housing Partners?
Heritage Housing Partners's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.heritagehousingpartners.org
Learn more at the official website: www.heritagehousingpartners.org
Mission Statement of Heritage Housing Partners
Heritage Housing Partners is committed to promoting historic preservation and neighborhood revitalization. They accomplish this mission by engaging in the development, ownership, and operation of low-income housing properties, both for rent and for sale. This organization's primary focus is on assisting first-time homebuyers with modest incomes, as demonstrated by their work in Pasadena, California, where they completed over 250 housing units for this demographic. By preserving historical buildings and revitalizing neighborhoods, Heritage Housing Partners contributes to the betterment of communities, providing affordable housing options for those in need.
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Impact
July, 2024
Heritage Housing Partners has had a significant impact on promoting historic preservation and neighborhood revitalization in Pasadena, California. Through their work on predevelopment, rehabilitation, and new construction projects, they have developed, owned, and operated over 250 units of low-income housing. These efforts have primarily benefited first-time low to moderate income home buyers in the community, contributing to the overall economic stability and growth of the area. Their focus on providing affordable housing options plays a crucial role in addressing housing needs and supporting community development.
This information is meant to be a general summary of Heritage Housing Partners. 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: $19,048
- Program Service Revenue: $1,387,167
- Gross Receipts: $1,790,509
Assets and Liabilities:
- Total Assets: $63,829,840
- Total Liabilities: $74,063,539
- Net Assets: -$10,233,699
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REAL ESTATE SALES
Revenue
$1,296,067
MANAGEMENT FEES
Revenue
$91,100
Organization Details
Founding Year
1998
Phone
(626) 403-4663Principal Officer
Charles E Loveman Jr
Main Address
608 NORTH FAIR OAKS AVENUE 126, PASADENA, CA, 91103
NTEE Category
Code: L25 - Housing
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