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Golden Rule Community Development Corporation

Golden Rule Community Development Corporation

Montebello, CA 90640
Tax ID23-7309602

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About this organization

Revenue

$71,454

Expenses

$81,751

Mission

Investment in the development of affordable housing for extremely-low to moderate income households, to create economic opportunities in the City of Montebello and its surrounding communities and to support social justice and environmental issues.

About

The property purchased Nov 13, 2017 on 5th St in Montebello is very close to starting construction on the 2 additional units to occupy the rear of the property. GRCDC submitted plans and they have been approved by the City of Montebello, and we are now looking for the right contractor. We are hopeful that 9 months from now we will have completed construction and have the units rented.The Carob Way project has completed development, and we had hoped to see the return on our investment by FYE 6/30/19, but we have been assured that funds will be wired into our checking account before the end of September.Lastly, we voted, approved, and paid scholarships and a special project that Vanessa Secano is putting together for homeless awareness.

Interesting data from their 2020 990 filing

The filing outlines the non-profit's goal as “Investment in the development of affordable housing for extremely-low to moderate income households, to create economic opportunities in the city of montebello and its surrounding communities and to support social justice and environmental issues.”.

When explaining its purpose, the activities were outlined as: “Investment in the development of affordable housing for extremely-low to moderate income households, to create economic opportunities in the city of montebello and its surrounding communities and to support social justice and environmental issues.”.

  • As per legal reporting requirements, the state of operation for the non-profit is CA.
  • The non-profit's address for 2020 is listed as 1012 W Beverly Blvd 996, Montebello, CA, 90640 in the filing.
  • As per the non-profit's form, they have 0 employees as of 2020.
  • Does not operate a hospital.
  • Does not operate a school.
  • Does not collect art.
  • Does not provide credit counseling.
  • Does not have foreign activities.
  • Is not a donor advised fund.
  • Is not a private foundation.
  • Expenses are less than $100,000.
  • Revenue is less than $100,000.
  • Revenue less expenses is -$10,297.
  • The CEO's compensation policy within the organization is not established through a review and approval from a neutral party.
  • The organization has 4 independent voting members.
  • The organization was formed in 2003.
  • The organization is required to file Schedule O.
  • The organization pays $0 in salary, compensation, and benefits to its employees.
  • The organization pays $0 in fundraising expenses.
  • The organization provides Form 990 to its governing body.
  • The organization pays grants to individuals.
  • The organization has minutes of its meetings.
  • The organization's financial statements were reviewed by an accountant.

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