Overview
What is Elderly Home Inc?
Elderly Home Inc is a nonprofit organization situated in Madawaska, Maine, with a primary mission to provide affordable housing for the elderly and economically disadvantaged individuals. To achieve this goal, Elderly Home acquires real estate and manages an apartment complex under Section 202 of the National Housing Act. By doing so, they offer suitable housing accommodations to those in need, ensuring they have a decent living space. The organization's activities are geared towards enhancing the quality of life for the poor and elderly population, providing them with an essential service that can significantly impact their well-being.
Is Elderly Home Inc legitimate?
Elderly Home Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. Elderly Home 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 Elderly Home Inc?
Elderly Home Inc's mission is centered around providing affordable housing for the less fortunate elderly population. The organization achieves this by acquiring real property and operating an apartment complex under Section 202 of the National Housing Act. Their primary objective is to make suitable housing accessible to those in need, thereby contributing to their well-being. Elderly Home Inc's programs are specifically designed to cater to this specific demographic, offering them a comfortable living situation.
Who is the CEO of Elderly Home Inc?
Sharon Boucher is the President of Elderly Home Inc.
What is the revenue of Elderly Home Inc?
Elderly Home Inc's revenue in 2022 was $321,047.
Who are the executives of Elderly Home Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Elderly Home Inc?
Elderly Home Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Elderly Home Inc
Elderly Home Inc, as a nonprofit organization, is committed to providing affordable housing for the poor and elderly. Their mission is to acquire real property and operate an apartment complex under Section 202 of the National Housing Act. This strategic approach enables Elderly Home Inc to meet the housing needs of those who are financially disadvantaged and elderly, offering them suitable living spaces. By dedicating its efforts to this cause, Elderly Home Inc plays a significant role in addressing the housing insecurity faced by many individuals within this demographic.
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Impact
October, 2024
Elderly Home Inc plays a crucial role in enhancing the lives of the elderly and low-income individuals in Madawaska, ME. By acquiring and managing an apartment complex under Section 202 of the National Housing Act, it provides accessible and affordable housing options for those who might otherwise struggle to find a suitable place to live.
This initiative not only addresses the urgent need for affordable housing among the poor and elderly but also fosters a sense of community and belonging among residents. By creating a safe and supportive environment, Elderly Home Inc helps improve the overall quality of life for its residents, promoting their independence and well-being. The organization’s focus on suitable housing solutions directly contributes to alleviating housing insecurity, thereby making a significant social impact in the region.
This information is meant to be a general summary of Elderly Home 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: $341
- Program Service Revenue: $124,049
- Gross Receipts: $321,047
Assets and Liabilities:
- Total Assets: $1,476,563
- Total Liabilities: $1,265,043
- Net Assets: $211,520
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$120,005
LAUNDRY & MISC
Revenue
$4,044
Organization Details
Founding Year
1967
Phone
(207) 728-4575Principal Officer
Sharon Boucher
Main Address
521 ALBERT STREET, MADAWASKA, ME, 04756
NTEE Category
Code: L22Z - Housing
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