Overview
What is Wellmet Project Inc?
The Wellmet Project Inc, situated in Cambridge, Massachusetts, operates as a nonprofit organization. Its primary mission is to offer affordable housing and assistance to individuals who have been de-institutionalized from psychiatric facilities. With a modest workforce of five dedicated professionals, the organization aims to provide a supportive environment for these individuals, promoting their successful transition into mainstream society. Their goal is to improve the overall wellbeing of these individuals, ensuring they have a stable living situation and the necessary support they need to thrive.
Official website here: www.wellmetproject.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Star rating)
Wellmet Project Inc has received an 84% score on Charity Navigator, indicating a strong performance in the area of Accountability & Finance. This score is derived entirely from its accountability metrics, which reflect its commitment to transparency and responsible financial management. The organization has achieved noteworthy marks, including full points for having a majority of independent board members and a comprehensive audit of its financial statements.
The nonprofit has demonstrated effective governance by ensuring that the majority of its board members are independent. Additionally, it has a solid rating in terms of financial ratios, with a program expense ratio of over 75%, suggesting a significant portion of its funds is directed towards its programs rather than administrative costs. However, it is important to note that there are some missing policies, such as a conflict of interest policy and a whistleblower policy, which could indicate areas for improvement in governance practices.
Overall, while Wellmet Project Inc showcases commendable accountability through its financial practices and governance structure, addressing the gaps in its policy documentation would enhance its overall standing and foster greater trust among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Wellmet Project Inc legitimate?
Wellmet Project Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wellmet Project 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: $97,298
Professional Fundraising Fees: $0
Other Salaries and Wages: $138,560
For more financial information, click here
Official website here: www.wellmetproject.com
What is the mission statement of Wellmet Project Inc?
Wellmet Project Inc is an organization dedicated to helping those who have been de-institutionalized from psychiatric facilities. Their mission, in essence, is to provide affordable housing and support services for these individuals, ensuring they transition smoothly into community life. By offering such assistance, they aim to improve the wellbeing and stability of these former patients, enabling them to lead fulfilling lives outside of institutional settings.
Official website here: www.wellmetproject.com
Who is the CEO of Wellmet Project Inc?
Gurty Jean-Denis is the Executive Director of Wellmet Project Inc.
Official website here: www.wellmetproject.com
What is the revenue of Wellmet Project Inc?
Wellmet Project Inc's revenue in 2023 was $768,244.
Official website here: www.wellmetproject.com
Who are the executives of Wellmet Project Inc and what are their salaries?
The average compensation at Wellmet Project Inc during 2023 was $47,172. There are 5 employees at Wellmet Project Inc.
Here are 11 key members and their salaries:
- Compensation: $97,298
- Related: $0
- Other: $19,500
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Official website here: www.wellmetproject.com
Where can I find the form 990 for Wellmet Project Inc?
Wellmet Project Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.wellmetproject.com
Learn more at the official website: www.wellmetproject.com
Mission Statement of Wellmet Project Inc
The Wellmet Project Inc, a nonprofit organization, is dedicated to offering affordable housing and support to individuals who have been de-institutionalized from psychiatric facilities. Their mission is clear: to extend a helping hand to these individuals, ensuring they have a stable living environment as they transition back into society. The Wellmet Project Inc strives to make a difference in the lives of these individuals, providing them with the assistance they need to rebuild their lives.
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Impact
June, 2024
Wellmet Project Inc's impact can be seen in the tangible and positive outcomes for de-institutionalized psychiatric patients in need of low-cost housing and assistance. Through its mission to provide crucial support to this vulnerable population, Wellmet Project Inc is actively addressing the complex challenges faced by individuals with mental health issues, ultimately working to improve their quality of life and promote their overall well-being. By focusing on this specific demographic and providing essential services, Wellmet Project Inc is making a meaningful difference in the lives of those it serves.
This information is meant to be a general summary of Wellmet Project 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: $1,880
- Program Service Revenue: $712,408
- Gross Receipts: $768,244
Assets and Liabilities:
- Total Assets: $2,034,258
- Total Liabilities: $792,906
- Net Assets: $1,241,352
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Residential fees
Revenue
$712,408
Organization Details
Founding Year
1960
Principal Officer
Gurty Jean-Denis
Main Address
649 Massachusetts Ave Suite 6, Cambridge, MA, 02139
Website
www.wellmetproject.comNTEE Category
Code: F34Z - Mental health
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