Overview
What is Way Finders Inc?
Way Finders Inc is a Massachusetts-based, not-for-profit organization situated at 1780 Main Street, Springfield. Their mission revolves around providing housing assistance and technical support to low-income and disabled individuals in Western Massachusetts. Established to promote affordable housing opportunities, Way Finders aims to empower people with education and essential services, enabling them to improve their future. They operate rental assistance programs, funded by federal and state grants, which provide supplementary rent payments to eligible households. In addition to housing assistance, Way Finders offers a range of supportive services to those enrolled in their rental assistance programs. Their goal is to foster vibrant, diverse communities by uplifting individuals towards self-sufficiency. The organization's workforce comprises 399 dedicated employees.
Official website here: www.wayfinders.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91%
Way Finders Inc has achieved a strong Four-Star out of Four Star rating from Charity Navigator, reflecting its high level of accountability and financial health. With a remarkable Impact & Measurement score of 100, the organization demonstrates its effectiveness in fulfilling its mission, particularly through significant financial contributions to those in need, having provided over $90 million in aid to approximately 14,000 households. The nonprofit's commitment to feedback collection and usage is evident, scoring a perfect 100 in both categories.
The organization benefits from a fully independent board of directors, ensuring that governance practices are robust and transparent. The financial structure is solid, with an impressive program expense ratio of 97.10%, indicating that a large majority of its funds are directed toward program services rather than administrative costs. Additionally, the presence of established policies regarding conflict of interest and whistleblower protections highlights its commitment to ethical operation and transparency.
Despite its strengths, the Accountability & Finance score of 81 suggests there may be areas for improvement, though the overall performance remains commendable. Way Finders Inc's leadership has shown adaptability amidst changing circumstances, making strategic decisions that align with its mission and community needs effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Way Finders Inc legitimate?
Way Finders Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Way Finders 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: $1,100,657
Professional Fundraising Fees: $0
Other Salaries and Wages: $14,702,989
For more financial information, click here
Official website here: www.wayfinders.org
What is the mission statement of Way Finders Inc?
Way Finders Inc is a not-for-profit organization dedicated to helping low-income and disabled individuals in achieving better futures. Through its mission, the organization provides affordable housing opportunities and offers educational and support services. Way Finders enables people to thrive by providing rent supplements to qualified households under federal and state subsidized programs. Additionally, they offer a range of supportive services to those participating in their rental assistance programs.
Official website here: www.wayfinders.org
Who is the CEO of Way Finders Inc?
Derek J Morris is the Director of Way Finders Inc. The CEO's salary of Way Finders Inc is $128,197 and their total compensation is $138,911.
Official website here: www.wayfinders.org
What is the revenue of Way Finders Inc?
Way Finders Inc's revenue in 2022 was $168,594,430.
Official website here: www.wayfinders.org
Who are the executives of Way Finders Inc and what are their salaries?
The average compensation at Way Finders Inc during 2022 was $39,608. There are 399 employees and 100 volunteers at Way Finders Inc.
Here are 30 key members and their salaries (Way Finders Inc's CEO's salary is $128,197 and their total compensation is $138,911):
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- Compensation: $128,256
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- Other: $4,308
- Compensation: $128,197
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- Other: $10,714
Official website here: www.wayfinders.org
Where can I find the form 990 for Way Finders Inc?
Way Finders Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wayfinders.org
Learn more at the official website: www.wayfinders.org
Mission Statement of Way Finders Inc
Way Finders Inc, a not-for-profit organization, is committed to helping low-income and disabled individuals in Western Massachusetts. The mission of Way Finders Inc is twofold: providing affordable housing opportunities and offering education and support to enable people to improve their living conditions and build a better future.
Through its rental assistance programs, Way Finders Inc offers financial aid to eligible low-income households by supplementing their rent. This assistance is made possible through funding from federal and state resources. In addition to monetary aid, Way Finders Inc provides various supportive services to participants of the rental assistance program, ensuring they receive the necessary resources to thrive.
Way Finders Inc's housing assistance initiatives promote the growth of vibrant, diverse communities by empowering individuals to overcome financial and personal challenges. The organization's dedication to affordable housing and comprehensive support is essential in fostering self-sufficiency and a brighter future for those in need.
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Impact
October, 2024
Way Finders Inc plays a crucial role in enhancing the quality of life for low-income and disabled individuals in Western Massachusetts. By offering rental assistance programs, the organization provides vital financial support that helps households afford stable housing. Participants in these programs receive rent supplements that are essential for maintaining their homes, which in turn fosters community stability and individual well-being.
Beyond financial aid, Way Finders Inc emphasizes education and supportive services, empowering individuals to improve their circumstances and work toward a better future. This holistic approach not only addresses immediate housing needs but also promotes long-term self-sufficiency and personal development. Through these efforts, Way Finders Inc cultivates vibrant, diverse communities where all residents have the opportunity to thrive.
This information is meant to be a general summary of Way Finders 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: $367,900
- Program Service Revenue: $2,129,893
- Gross Receipts: $168,594,430
Assets and Liabilities:
- Total Assets: $56,219,602
- Total Liabilities: $38,920,475
- Net Assets: $17,299,127
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROPERTY MANAGEMENT REVENUE
Revenue
$755,976
RENTAL REVENUE
Revenue
$610,410
REAL ESTATE DEVELOPMENT REVENUE
Revenue
$393,997
Organization Details
Founding Year
1972
Phone
(413) 233-1500Principal Officer
Derek J Morris
Main Address
1780 MAIN STREET, SPRINGFIELD, MA, 01103
Website
www.wayfinders.orgNTEE Category
Code: L210 - Housing
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