Overview
What is Building Futures Inc?
Building Futures Inc, based in Worcester, Massachusetts, is a nonprofit organization with a mission to uplift low-income individuals and families. They offer educational, training, and employment assistance, aiming to empower residents living in public housing or receiving rent subsidies. The organization provides quality and affordable housing options while running programs that equip these individuals with the skills necessary for self-sufficiency in social and economic aspects. This holistic approach seeks to bring positive change to the lives of those in need, contributing to the betterment of their community in Worcester, MA.
Official website here: www.bfiwha.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Building Futures Inc has received a score of 81%, which translates to a Three-Star rating from Charity Navigator. This rating reflects a strong emphasis on accountability and finance, demonstrating the organization’s commitment to transparency and responsible management of funds. The entire score is based on their accountability and finance practices, indicating a focused approach to these critical areas.
The organization showcases several strengths, including a fully independent board with all eight members meeting the criteria, and an excellent evaluation of its financial oversight practices. Their policies regarding conflicts of interest and whistleblower protections are well established, which fosters a culture of integrity and accountability. Additionally, they maintain a solid program expense ratio of 100%, indicating that all their expenses are directed towards their programs.
However, a notable limitation in their evaluation is the liabilities to assets ratio, where they scored 0 out of 15 points, suggesting potential concerns regarding their financial leverage. This could be an area for improvement to ensure long-term sustainability and fiscal health. Overall, while Building Futures Inc has many strengths, addressing its financial liabilities may enhance its standing further.
This AI summary has been generated from information found on Charity Navigator.
Is Building Futures Inc legitimate?
Building Futures Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Building Futures 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $100,854
For more financial information, click here
Official website here: www.bfiwha.org
What is the mission statement of Building Futures Inc?
Building Futures Inc is committed to offering safe, affordable, and high-quality housing options for low-income individuals and families. The organization's mission is to positively transform the lives of those living in public housing or receiving rent subsidies by providing no-cost programs that focus on education, training, and employment skills. These programs are designed to empower residents to achieve social and economic self-sufficiency, ultimately improving their overall quality of life.
Official website here: www.bfiwha.org
Who is the CEO of Building Futures Inc?
Joseph Carlson is the Wha Ceo of Building Futures Inc. The CEO's salary of Building Futures Inc is $0 and their total compensation is $290,276.
Official website here: www.bfiwha.org
What is the revenue of Building Futures Inc?
Building Futures Inc's revenue in 2022 was $1,032,429.
Official website here: www.bfiwha.org
Who are the executives of Building Futures Inc and what are their salaries?
Here are 10 key members and their salaries (Building Futures Inc's CEO's salary is $0 and their total compensation is $290,276):
- Compensation: $0
- Related: $235,730
- Other: $123,051
- Compensation: $0
- Related: $190,720
- Other: $99,556
- Compensation: $0
- Related: $133,268
- Other: $69,566
- Compensation: $0
- Related: $122,617
- Other: $64,006
- Compensation: $0
- Related: $113,211
- Other: $59,096
- Compensation: $0
- Related: $7,375
- Other: $2,802
- Compensation: $0
- Related: $7,175
- Other: $2,726
- Compensation: $0
- Related: $7,175
- Other: $2,726
- Compensation: $0
- Related: $7,175
- Other: $2,726
- Compensation: $0
- Related: $7,175
- Other: $2,726
Official website here: www.bfiwha.org
Where can I find the form 990 for Building Futures Inc?
Building Futures Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bfiwha.org
Learn more at the official website: www.bfiwha.org
Mission Statement of Building Futures Inc
Building Futures Inc, as a nonprofit organization, is committed to providing safe, affordable, and high-quality housing options for low-income individuals and families. Beyond offering shelter, its mission is to go beyond the basic necessities. By implementing no-cost programs, Building Futures Inc aims to equip its residents with essential educational, training, and employment skills. This strategic approach is designed to help these individuals and families achieve self-sufficiency in both their social and economic lives. By investing in their residents' growth, Building Futures Inc strives to make a significant and lasting impact on their lives, ultimately transforming their circumstances for the better.
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Impact
July, 2024
Building Futures Inc's impact is significant as it provides crucial support to low-income individuals and families in Worcester, MA. By offering safe, affordable, and quality housing opportunities, the organization plays a key role in transforming the lives of public housing or rent subsidized residents. Additionally, through its educational, training, and employment programs, Building Futures Inc equips individuals with the skills necessary to achieve social and economic self-sufficiency. This holistic approach ensures that those in need have access to essential resources and support to improve their quality of life and socio-economic status.
This information is meant to be a general summary of Building Futures 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 2022.
- Investment Income: $5,602
- Gross Receipts: $1,032,429
Assets and Liabilities:
- Total Assets: $12,101,842
- Total Liabilities: $11,558,928
- Net Assets: $542,914
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Organization Details
Founding Year
2017
Phone
(508) 635-3115Principal Officer
Joseph Carlson
Main Address
630A Plantation Street, Worcester, MA, 016052658
Website
www.bfiwha.orgNTEE Category
Code: P20 - Human services
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