Common Ground Development Corporation

Overview

Common Ground Development Corporation is a 501(c)(3) nonprofit organization dedicated to developing, owning, and managing affordable housing units for low and moderate-income individuals and families. It operates primarily in the Greater Lowell area and other communities in Northern Massachusetts.

Mission

The corporation's mission is to address the acute housing needs in its service area by creating and maintaining affordable housing options. This not only contributes to community development but also fosters economic stability and social well-being for those in need.

Activities

Common Ground Development Corporation achieves its goals through several strategies:

• Development of Affordable Housing: It focuses on creating new units through the rehabilitation of distressed buildings and new construction projects.
• Preservation of Existing Housing: The organization preserves existing apartments by acquiring and maintaining them at affordable rent levels.
• Community Engagement: It collaborates with local cities and towns to ensure sustainable housing solutions.

Financial Overview

While specific financials can vary year to year, Common Ground Development Corporation generally relies on contributions and program services as its main sources of revenue. It maintains a strong financial profile with no executive compensation or professional fundraising fees, ensuring that resources are dedicated to its mission.

Governance and Accountability

The organization receives a solid three-star rating from Charity Navigator, reflecting its strong governance practices, including an independent board and comprehensive policies. However, there is room for improvement in directing a higher percentage of its expenses towards programmatic activities.

Legitimacy and Transparency

As a registered 501(c)(3) entity, Common Ground Development Corporation files a Form 990 annually, demonstrating its operational transparency and adherence to regulatory requirements. Donations to the organization are tax-deductible, further supporting its legitimacy as a nonprofit.