Better Business Bureau Report for
Central City Housing Ventures

Better Business Bureau Report issued May 2013
Better Business Bureau Report expires May 2015


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Central City Housing Ventures
Address: 637 S. Dearborn Street
  Chicago, IL 60605
Phone: 312-431-0035
Web Address: www.cchvchicago.org
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Better Business Bureau Comments

Year, State Incorporated: 1989, Illinois
Affiliates: None
Stated Purpose: Central City Housing Ventures provides rental assistance and other supportive services assistance to residents of an affordable housing community.

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Evaluation Conclusions

              

Central City Housing Ventures does not meet the following 2 Standards for Charity Accountability.

Standard 16: Annual Report - Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.

Central City Housing Ventures does not meet this standard because:

  • The organization states it does not have an annual report covering activities conducted in the past year.

Standard 17: Web Site Disclosures - Include on any charity websites that solicit contributions, the same information that is recommended for annual reports, as well as the mailing address of the charity and electronic access to its most recent IRS Form 990.

Central City Housing Ventures does not meet this Standard because the organization's website, www.cchvchicago.org, does not include all of the recommended information for those charity websites that solicit for donations. Specifically, it does not include:

  • Total program expenses.
  • Total fund raising expenses.
  • Total administrative expenses.
Central City Housing Ventures meets the remaining 18 Standards for Charity Accountability.
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Programs

              

The purposes of the Corporation are: to alleviate the plight of homelessness; to preserve and expand the availability of adequate low income and affordable housing; to provide such low income and affordable housing with on-site access to social services; to acquire, design, develop and manage low income and affordable housing; and to educate the public about the importance of maintaining an adequate supply of safe and sanitary low income and affordable housing to reduce homelessness.

For the fiscal year ended June 30, 2012, Central City Housing Ventures's program expenses were:

  
Affordable Housing Advocacy and Development 45,569
Total Program Expenses: $45,569
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Governance

              

Chief Executive : none, none
Compensation*: 
$

Highest Paid Executive: Darlene Roberts,Director of Community Development
Compensation*: $28,675

Chair of the Board: Margaret McGuire
Chair's Profession / Business Affiliation: retired attorney

Board Size: 7

Paid Staff Size: 0

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

invitations to fund raising events, internet
Fund raising costs were 13% of related contributions. (Related contributions, which totaled $20,680, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Central City Housing Ventures's unaudited financial statements for the fiscal year ended June 30, 2012.

Source of Funds  
Support and revenue Contributions 20,680
Interest income 219
Total Income $20,899


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Uses of Funds as a % of Total Expenses

Programs: 87%  Fund Raising: 5%  Administrative: 8% 

Total income $20,899
Program expenses $45,569
Fund raising expenses 2,745
Administrative expenses 4,071
Total expenses $52,385
Expenses in Excess of Income (31,486)
Beginning net assets 69,095
Ending net assets 49,837
Total liabilities 180
Total assets $50,017


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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