Overview
What is Belmont Elderly Housing Inc?
Belmont Elderly Housing Inc, located in Concord, New Hampshire, is a dedicated nonprofit organization with a primary mission of offering affordable housing solutions to the elderly and handicapped residents of the Belmont area. Established with the purpose of providing community-based housing, the organization ensures low-income housing options for this specific group of individuals. By offering this essential service, Belmont Elderly Housing Inc contributes significantly to the well-being and livelihood of the elderly and handicapped community in the area.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Belmont Elderly Housing Inc has achieved a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The overall score is derived entirely from the Accountability & Finance beacon, highlighting the organization’s commitment to transparency and good governance. The charity has a strong independent board with 100% of its members being independent, which enhances its credibility and decision-making processes.
The organization demonstrates effective financial management, showcasing an impressive program expense ratio of 82.60%. This indicates that a significant portion of its expenditures is directed towards its programs, reflecting a commitment to serving its mission. Additionally, the organization has sound policies in place, including a conflict of interest policy and a whistleblower policy, further illustrating its commitment to ethical practices.
However, a notable limitation exists regarding its liabilities to assets ratio, which is reported at 153.41%. This suggests that the organization may have more liabilities than assets, raising concerns about its financial stability. While the charity shows strengths in governance and program spending, potential donors and stakeholders should consider this financial aspect when evaluating its overall health.
This AI summary has been generated from information found on Charity Navigator.
Is Belmont Elderly Housing Inc legitimate?
Belmont Elderly Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Belmont Elderly 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 Belmont Elderly Housing Inc?
Belmont Elderly Housing Inc's mission is centered around providing community-based housing for the elderly and individuals with disabilities. This organization strives to make affordable housing an accessible option, ensuring that those in need can maintain a decent living standard. Their primary goal is to cater to this specific demographic, offering them a suitable residence within their community.
Who is the CEO of Belmont Elderly Housing Inc?
Janice Hammond is the President of Belmont Elderly Housing Inc.
What is the revenue of Belmont Elderly Housing Inc?
Belmont Elderly Housing Inc's revenue in 2023 was $460,505.
Who are the executives of Belmont Elderly Housing Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Belmont Elderly Housing Inc?
Belmont Elderly Housing Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Belmont Elderly Housing Inc
Belmont Elderly Housing Inc is a nonprofit organization committed to providing community-based housing for the elderly and individuals with disabilities. Their mission, in simpler terms, is to offer affordable living accommodations for this specific population, ensuring they can live with dignity and independence. By providing low-income housing, Belmont Elderly Housing Inc aims to create an inclusive and supportive environment where the elderly and handicapped can reside comfortably. This mission is instrumental in promoting the well-being and independence of these individuals, enabling them to lead fulfilling lives.
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Impact
July, 2024
Belmont Elderly Housing Inc's impact lies in providing much-needed affordable housing for the elderly and/or handicapped residents in the Belmont, NH area. Through their mission to offer community-based housing options, they ensure that these vulnerable populations have access to safe and comfortable living environments. By addressing the critical need for low-income housing, Belmont Elderly Housing Inc plays a crucial role in enhancing the quality of life for elderly and handicapped individuals in the region.
This information is meant to be a general summary of Belmont Elderly 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: $626
- Program Service Revenue: $188,508
- Gross Receipts: $460,505
Assets and Liabilities:
- Total Assets: $1,603,021
- Total Liabilities: $2,459,481
- Net Assets: -$856,460
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$171,102
TENANT FEES
Revenue
$17,406
Organization Details
Founding Year
1999
Phone
(603) 225-3295Principal Officer
Janice Hammond
Main Address
PO BOX 1016, CONCORD, NH, 03302
NTEE Category
Code: L80 - Housing
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