Overview
What is Stony Brook Housing Inc?
Stony Brook Housing Inc, based in Lewiston, Maine (240 Bates Street), is a dedicated nonprofit organization that specializes in providing affordable housing solutions for individuals with unique needs and specific living requirements. Their primary mission revolves around offering low-income housing, catering to this specific demographic with particular requirements. The organization strives to create an inclusive and supportive living environment for its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73% (Two-Star out of Four Star rating). This rating indicates that Stony Brook Housing Inc meets basic accountability standards but has areas that require improvement. The organization demonstrates strong financial health, particularly highlighted by a perfect program expense ratio, suggesting that nearly all of its expenses are directed towards its programs.
Strengths of Stony Brook Housing Inc include an entirely independent board, a low liabilities to assets ratio, and thorough documentation of board meeting minutes, all of which reflect good governance practices. However, the organization suffers from several missing policies and documentation that are crucial for transparency and accountability, such as a conflict of interest policy and a whistleblower policy.
The lack of a website listed on the tax form and other missing documents raises concerns about the organization's commitment to transparency. These limitations suggest that while the organization is financially sound, it could benefit significantly from enhancing its governance practices and improving its public accountability efforts.
This AI summary has been generated from information found on Charity Navigator.
Is Stony Brook Housing Inc legitimate?
Stony Brook Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Stony Brook 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.
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What is the mission statement of Stony Brook Housing Inc?
Stony Brook Housing Inc is committed to providing low-income housing for individuals with special needs and unique living requirements. The organization's mission is centered around accommodating individuals who require specialized housing solutions. The primary goal is to offer a living space that cater to the unique needs and circumstances of these individuals, ensuring they can reside comfortably. The organization serves as a vital resource, offering housing solutions that may not be readily available elsewhere.
Who is the CEO of Stony Brook Housing Inc?
Laura Gormley is the Member of Stony Brook Housing Inc.
What is the revenue of Stony Brook Housing Inc?
Stony Brook Housing Inc's revenue in 2023 was $92,815.
Who are the executives of Stony Brook Housing Inc and what are their salaries?
Here are 19 key members and their salaries:
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Where can I find the form 990 for Stony Brook Housing Inc?
Stony Brook Housing Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Stony Brook Housing Inc
Stony Brook Housing Inc is dedicated to providing low-income housing for individuals with special needs and specific living requirements. The organization's mission is to create a living environment that caters to the unique needs of these individuals, ensuring they have a safe and supportive place to call home. By offering housing solutions tailored to their specific requirements, Stony Brook Housing Inc aims to empower these individuals and contribute to their overall well-being.
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Impact
October, 2024
Stony Brook Housing Inc significantly enhances the quality of life for individuals with special needs and specific living requirements in Lewiston, ME. By providing affordable housing options, the organization addresses a critical gap in the housing market that often leaves vulnerable populations without safe and suitable living conditions.
The impact of their efforts is evidenced by improved stability for residents who may face challenges in securing housing due to their unique circumstances. By creating an inclusive environment, Stony Brook Housing fosters community integration and empowers individuals to lead more independent and fulfilling lives. Moreover, their work helps alleviate the stress and uncertainty associated with housing insecurity, allowing residents to focus on their personal growth and wellbeing. Overall, Stony Brook Housing Inc plays a vital role in promoting social equity and enhancing the overall community health in the region.
This information is meant to be a general summary of Stony Brook 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: $371
- Program Service Revenue: $23,088
- Gross Receipts: $92,815
Assets and Liabilities:
- Total Assets: $343,245
- Total Liabilities: $55,910
- Net Assets: $287,335
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$18,595
LAUNDRY REVENUE/MISCEL
Revenue
$4,493
Organization Details
Founding Year
2002
Phone
(207) 783-9141Principal Officer
Laura Gormley
Main Address
240 BATES STREET, LEWISTON, ME, 042412008
NTEE Category
Code: L20 - Housing
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