Overview
What is Freeport Senior Housing Inc?
Freeport Senior Housing Inc is a compassionate nonprofit organization situated in Freeport, Maine. Its primary focus is on providing affordable housing options for the elderly with limited income. By going beyond simply offering a residence, Freeport Senior Housing also provides essential supportive services, helping to uphold the independence of its senior residents. Their mission encompasses more than a dwelling; it's about enriching the lives of elderly individuals by offering them the resources they need to maintain their autonomy.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Freeport Senior Housing Inc has received a Three-Star rating, reflecting a solid commitment to accountability and finance. The organization earned an 81% score primarily based on its strong performance in aspects such as having a fully independent board and a robust financial oversight structure. This indicates a high level of transparency and responsible management of resources.
The nonprofit's strengths include a complete independent board, with 12 members, and exemplary financial statements management, receiving full points in several categories. Additionally, the organization demonstrates a low ratio of liabilities to assets at 56.16%, which suggests a favorable financial position. The high percentage of program expenses (94.18%) indicates a significant focus on mission-related activities.
However, there are some areas for improvement, such as the liabilities to assets ratio, where it received only partial points. While overall financial management appears solid, potential donors and stakeholders might want to investigate these factors further to gauge the organization's long-term sustainability and impact.
This AI summary has been generated from information found on Charity Navigator.
Is Freeport Senior Housing Inc legitimate?
Freeport Senior Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Freeport Senior Housing Inc 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:
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What is the mission statement of Freeport Senior Housing Inc?
Freeport Senior Housing Inc. strives to offer affordable housing options for low-income elderly individuals. Beyond providing a residence, the organization's mission is to extend the independence of its elderly tenants by offering supportive services. This mission is centered around more than just a home; it encompasses resources that aid in maintaining the autonomy of its residents. The goal is to enhance the quality of life for these seniors, ensuring they can live with dignity and independence.
What is the revenue of Freeport Senior Housing Inc?
Freeport Senior Housing Inc's revenue in 2023 was $716,228.
Who are the executives of Freeport Senior Housing Inc and what are their salaries?
Here are 13 key members and their salaries:
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- Related: $88,600
- Other: $485
Where can I find the form 990 for Freeport Senior Housing Inc?
Freeport Senior Housing Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Freeport Senior Housing Inc
Freeport Senior Housing Inc, a nonprofit organization, is dedicated to providing affordable housing solutions for low-income elderly individuals. Beyond offering a place to live, the mission of Freeport Senior Housing extends to providing supportive services that aid in maintaining the independence of its senior residents. By offering more than just a home, the organization strives to enhance the lives of its elderly tenants, ensuring they can continue to live with dignity and autonomy.
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Impact
July, 2024
Freeport Senior Housing Inc's impact is significant in providing affordable housing solutions to low-income elderly individuals in Freeport, Maine. By offering not just a home but also supportive services, this organization helps extend the independence of its elderly tenants. This ensures that vulnerable members of the community have a safe and stable place to live, promoting their well-being and quality of life.
This information is meant to be a general summary of Freeport Senior Housing Inc. 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 2023.
- Investment Income: $74
- Program Service Revenue: $206,735
- Gross Receipts: $716,228
Assets and Liabilities:
- Total Assets: $2,229,209
- Total Liabilities: $1,282,693
- Net Assets: $946,516
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$204,437
LAUNDRY/MISC INCOME
Revenue
$2,298
Organization Details
Founding Year
1994
Principal Officer
Tom Whelan
NTEE Category
Code: L20 - Housing
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