Overview
What is Seventy-Five State Street?
Seventy-Five State Street is a nonprofit organization located in Portland, Maine, with a postal address at 75 State Street. Their primary mission is to provide a residential care facility with 67 beds and independent living accommodations in the form of 88 apartments, catering to the elderly population in Cumberland County. The organization aims to uphold the dignity and individuality of its residents by offering stimulating and supportive programs and services in a comfortable urban setting. With a staff of 161 individuals, Seventy-Five State Street works tirelessly to ensure the well-being and independence of its senior residents.
Official website here: www.75state.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91% (Four-Star out of Four Stars)
Seventy-Five State Street has received a strong rating of 91%, which reflects its commitment to accountability and financial health. This high score is solely based on the Accountability & Finance beacon, indicating a robust focus on responsible financial practices. The organization boasts a fully independent board, demonstrating strong governance, which is a positive sign for potential donors.
The nonprofit has performed exceptionally well in various metrics, including having no material diversion of assets and maintaining comprehensive policies on conflict of interest and whistleblower protections. Its financial statements are subject to an audit and oversight committee, adding another layer of trustworthiness in its financial management. Additionally, the program expense ratio is notably high at 86.17%, suggesting that a significant portion of the funds raised is directed towards its programs and services rather than administrative costs.
However, the liabilities to assets ratio stands at 57.06%, which may raise some concerns regarding financial stability in the long term. While this is not an alarming figure, it indicates that more than half of the organization's assets are offset by liabilities, warranting closer scrutiny. Overall, Seventy-Five State Street presents itself as a responsible and effective organization, though potential donors may want to consider its financial ratios before contributing.
This AI summary has been generated from information found on Charity Navigator.
Is Seventy-Five State Street legitimate?
Seventy-Five State Street is a legitimate nonprofit organization registered as a 501(c)(3) entity. Seventy-Five State Street 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: $226,125
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,763,141
For more financial information, click here
Official website here: www.75state.org
What is the mission statement of Seventy-Five State Street?
Seventy-Five State Street is committed to upholding the independence, dignity, and individuality of elderly individuals of various financial backgrounds. They achieve this goal by offering engaging and supportive programs and services within a gracious urban residential setting. The facility provides both residential care for 67 elderly individuals and independent living accommodations for 88 seniors. The primary aim is to create an environment that fosters personal growth and well-being for its elderly residents.
Official website here: www.75state.org
Who is the CEO of Seventy-Five State Street?
Katy Smith is the Chair of Seventy-Five State Street.
Official website here: www.75state.org
What is the revenue of Seventy-Five State Street?
Seventy-Five State Street's revenue in 2022 was $9,274,077.
Official website here: www.75state.org
Who are the executives of Seventy-Five State Street and what are their salaries?
The average compensation at Seventy-Five State Street during 2022 was $24,778. There are 161 employees and 22 volunteers at Seventy-Five State Street.
Here are 17 key members and their salaries:
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- Compensation: $90,236
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- Other: $8,501
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- Related: $184,819
- Other: $11,162
Official website here: www.75state.org
Where can I find the form 990 for Seventy-Five State Street?
Seventy-Five State Street's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.75state.org
Learn more at the official website: www.75state.org
Mission Statement of Seventy-Five State Street
Seventy-Five State Street is a dedicated organization with a mission to uphold the independence, dignity, and individuality of elderly individuals, irrespective of their financial capabilities. They achieve this by offering an array of stimulating and supportive programs and services in a delightful urban residential setting. This nonprofit institution provides both residential care, accommodating 67 elderly individuals, and independent living facilities, housing 88 elderly residents. The primary goal is to create an environment that nurtures the elderly, fostering their sense of self-reliance and respect.
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Impact
July, 2024
Seventy-Five State Street has a significant impact on the elderly population in the Cumberland County area by providing a residential care facility with 67 beds and 88 apartments for independent living. Its mission is to promote the independence, dignity, and individuality of older individuals of all financial abilities by offering stimulating and supportive programs and services in a gracious, urban, residential setting. Through its housing services, Seventy-Five State Street plays a crucial role in enhancing the lives of the elderly in Portland, ME, and ensuring they receive the care and support they need to age with dignity and enjoy a high quality of life.
This information is meant to be a general summary of Seventy-Five State Street. 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: $385,286
- Program Service Revenue: $8,404,545
- Gross Receipts: $13,196,672
Assets and Liabilities:
- Total Assets: $18,028,427
- Total Liabilities: $10,287,268
- Net Assets: $7,741,159
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Resident Service Revenue
Revenue
$10,551,073
Miscellaneous
Revenue
$12,369
Contractual Adjustments
Revenue
-$2,158,897
Organization Details
Founding Year
1854
Phone
(207) 772-2675Principal Officer
Katy Smith
Main Address
75 State Street, Portland, ME, 04101
Website
www.75state.orgNTEE Category
Code: L22Z - Housing
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