Overview
What is Maple Grove Elderly Housing Corporation C/O Avesta Housing?
Maple Grove Elderly Housing Corporation C/O Avesta Housing is a nonprofit organization situated in Portland, Maine, with a specific focus on providing affordable housing solutions. Based at 307 Cumberland Avenue, they specialize in accommodating low-income elderly residents and families. Their primary mission is to offer suitable living spaces, ensuring that elderly individuals and families in need have a secure and comfortable home environment. By doing so, they contribute significantly to the welfare of the community, providing a vital service that bridges the gap between housing needs and limited financial resources.
What are the reviews and ratings of this charity?
79% - Three-Star out of Four Star Rating
Maple Grove Elderly Housing Corporation C/O Avesta Housing has achieved a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The score reflects a strong commitment to maintaining an independent board and effective governance practices, with 100% of board members being independent. The organization scored highly in areas such as financial statements oversight and conflict of interest policies, highlighting its dedication to transparency and ethical management.
However, the organization has a notable limitation reflected in its liabilities to assets ratio, which scored poorly at 0 out of 15 points. This may indicate potential financial risks that could impact its sustainability in the long term. Nonetheless, the strong program expense ratio suggests that funds are being allocated effectively towards its mission, which is crucial for the nonprofit sector.
Overall, while there are areas for improvement, particularly concerning financial liabilities, the strong governance practices and commitment to accountability position Maple Grove Elderly Housing Corporation as a responsible organization within its sector. This rating will provide potential donors and stakeholders with a clear understanding of the organization’s strengths and areas needing attention.
This AI summary has been generated from information found on Charity Navigator.
Is Maple Grove Elderly Housing Corporation C/O Avesta Housing legitimate?
Maple Grove Elderly Housing Corporation C/O Avesta Housing is a legitimate nonprofit organization registered as a 501(c)(3) entity. Maple Grove Elderly Housing Corporation C/O Avesta Housing 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Maple Grove Elderly Housing Corporation C/O Avesta Housing?
The Maple Grove Elderly Housing Corporation, managed by Avesta Housing, is committed to a mission that primarily focuses on providing housing. More specifically, they offer shelter for low-income elderly residents and families. This organization operates low-income apartments, serving as a vital resource for elderly individuals and families in need of housing assistance. Their mission is centered around ensuring that these vulnerable groups have access to safe and suitable living spaces.
Who is the CEO of Maple Grove Elderly Housing Corporation C/O Avesta Housing?
Eric Boucher is the Director of Maple Grove Elderly Housing Corporation C/O Avesta Housing. The CEO's salary of Maple Grove Elderly Housing Corporation C/O Avesta Housing is $0 and their total compensation is $226,435.
What is the revenue of Maple Grove Elderly Housing Corporation C/O Avesta Housing?
Maple Grove Elderly Housing Corporation C/O Avesta Housing's revenue in 2022 was $1,022,006.
Who are the executives of Maple Grove Elderly Housing Corporation C/O Avesta Housing and what are their salaries?
Here are 23 key members and their salaries (Maple Grove Elderly Housing Corporation C/O Avesta Housing's CEO's salary is $0 and their total compensation is $226,435):
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- Other: $41,000
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- Related: $157,819
- Other: $27,000
Where can I find the form 990 for Maple Grove Elderly Housing Corporation C/O Avesta Housing?
Maple Grove Elderly Housing Corporation C/O Avesta Housing's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Maple Grove Elderly Housing Corporation C/O Avesta Housing
Maple Grove Elderly Housing Corporation, a division of Avesta Housing, is a dedicated organization that prioritizes providing housing for low-income elderly residents and families. Their mission is clearly defined as they work tirelessly to ensure that elderly individuals and families have access to safe and affordable living spaces. By owning and operating low-income apartments, this nonprofit corporation is making a significant impact in the lives of those who may struggle with housing costs due to their age or income. This mission is a testament to their commitment to supporting the elderly community, providing them with a sense of security and stability that is essential for their well-being.
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Impact
July, 2024
Maple Grove Elderly Housing Corporation, operated by Avesta Housing, provides crucial affordable housing for low-income elderly residents and families in Portland, Maine. By owning and managing low-income apartments, this organization plays a vital role in ensuring that vulnerable populations have access to safe and stable housing. Their impact is significant in addressing the housing needs of a demographic that often faces financial challenges and limited resources.
Through their mission to provide housing for low-income elderly residents and families, Maple Grove Elderly Housing Corporation contributes to enhancing the quality of life for these individuals by offering affordable and secure housing options. This kind of support is essential in fostering a sense of community, stability, and well-being among those who may otherwise struggle to find suitable housing options.
This information is meant to be a general summary of Maple Grove Elderly Housing Corporation C/O Avesta Housing. 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: $8,834
- Program Service Revenue: $718,648
- Gross Receipts: $1,022,006
Assets and Liabilities:
- Total Assets: $9,285,755
- Total Liabilities: $8,874,908
- Net Assets: $410,847
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$689,201
SERVICE INCOME
Revenue
$29,447
Organization Details
Founding Year
1977
Phone
(207) 553-7777Principal Officer
Eric Boucher
Main Address
307 CUMBERLAND AVENUE, PORTLAND, ME, 04101
NTEE Category
Code: L22Z - Housing
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