Overview
What is Medford Community Center Inc?
Medford Community Center Inc, located at 42 Water Street, Medford, MA 02155, is a nonprofit organization dedicated to providing subsidized housing for low-income senior citizens. Operating under Section 202, they manage a 35-apartment building, aiming to provide a comfortable living environment for this particular demographic. Their mission is deeply rooted in supporting the elderly community by offering subsidized housing options, thereby contributing to a more inclusive and equitable living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, earning it a Two-Star out of Four Star rating.
The Medford Community Center Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. With a solid program expense ratio of 76%, the organization appears to effectively allocate its resources towards its stated mission, which is a positive aspect of its operations.
However, the organization shows significant weaknesses in governance and transparency. Notably, it has no independent board members, and several key governance policies, such as conflict of interest and whistleblower policies, are missing. Additionally, the absence of a website listed on their tax form and missing tax documents on their site raise concerns regarding transparency and public accessibility of information.
While the financial oversight appears strong, as evidenced by a perfect score in audit and oversight committee measures, the numerous gaps in governance policies could undermine stakeholder confidence. Addressing these shortcomings would likely improve the organization’s rating and enhance its credibility in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Medford Community Center Inc legitimate?
Medford Community Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Medford Community Center 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: $75,931
For more financial information, click here
What is the mission statement of Medford Community Center Inc?
Medford Community Center Inc's mission is centered around providing subsidized housing for senior citizens who fall under the income bracket specified by Section 202. This organization, financed by HUD, operates a building consisting of thirty-five apartments, specifically designed for low-income elderly residents. Their primary objective is to ensure that these individuals have access to affordable housing, thereby contributing to their overall well-being.
Who is the CEO of Medford Community Center Inc?
Adam Ameden is the President of Medford Community Center Inc.
What is the revenue of Medford Community Center Inc?
Medford Community Center Inc's revenue in 2022 was $840,557.
Who are the executives of Medford Community Center Inc and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Medford Community Center Inc?
Medford Community Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Medford Community Center Inc
Medford Community Center Inc is dedicated to providing subsidized housing for low-income senior citizens who meet the criteria under Section 202. This nonprofit organization aims to create a living environment that is accessible and affordable for this specific demographic, thereby contributing to their well-being and quality of life. The housing provided by Medford Community Center Inc is financed by the HUD, resulting in a subsidized apartment building consisting of thirty-five units designed for senior citizens. This housing solution is an essential resource for elderly individuals who may be struggling financially, enabling them to maintain their independence and dignity while living in a secure and supportive community.
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Impact
July, 2024
Medford Community Center Inc's impact is significant in providing subsidized housing for low-income senior citizens who qualify under Section 202. Through their HUD-financed subsidized apartment building in Medford, MA, they offer a vital resource consisting of thirty-five apartments specifically designed for the needs of low-income senior residents. By fulfilling their mission to provide affordable housing for vulnerable seniors, Medford Community Center Inc plays a crucial role in supporting the well-being and quality of life of this demographic in the community.
This information is meant to be a general summary of Medford Community Center 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: $892
- Program Service Revenue: $839,079
- Gross Receipts: $840,557
Assets and Liabilities:
- Total Assets: $2,646,425
- Total Liabilities: $234,383
- Net Assets: $2,412,042
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$839,079
Organization Details
Founding Year
1960
Phone
(781) 395-7660Principal Officer
Adam Ameden
Main Address
42 WATER STREET, MEDFORD, MA, 02155
NTEE Category
Code: L21Z - Housing
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