Overview
What is Homeowner's Rehab Inc?
Homeowner's Rehab Inc, based in Cambridge, Massachusetts, is a nonprofit organization dedicated to improving and making available affordable housing for low-income individuals and families. With a mission to stimulate the renovation and improvement of properties, the organization acquires, rehabilitates, constructs, develops, owns, leases, or manages housing units in Massachusetts. Homeowner's Rehab Inc extends a helping hand to low-income homeowners through low-interest loans for home improvements. By promoting neighborhood enhancements, they aim to benefit individuals of all races, religions, and nationalities. The organization currently employs a team of 15 individuals in its mission to make a difference in the community.
Official website here: www.homeownersrehab.org
What are the reviews and ratings of this charity?
91% rating from Charity Navigator
Homeowner's Rehab Inc has achieved a Four-Star out of Four Star rating, reflecting its strong performance in accountability and finance. The charity scored 91% in this area, indicating a high level of transparency and effective financial management. This rating is significant as it assures donors that their contributions are being used responsibly and efficiently.
The organization boasts a fully independent board, which is crucial for maintaining unbiased governance. With 12 independent members and a robust conflict of interest policy, Homeowner's Rehab Inc demonstrates a commitment to ethical standards. Their financial oversight is further enhanced by a comprehensive audit and oversight committee, ensuring rigorous checks and balances.
However, there is a note regarding the liabilities to assets ratio, which stands at 56.99%, scoring slightly lower in this category. While the program expense ratio is commendable at 95.09%, this indicates that there might be room for improvement in managing liabilities relative to assets. Overall, the organization shows a solid foundation but could focus on strengthening its financial position.
This AI summary has been generated from information found on Charity Navigator.
Is Homeowner's Rehab Inc legitimate?
Homeowner's Rehab Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homeowner's Rehab 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: $306,394
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,294,479
For more financial information, click here
Official website here: www.homeownersrehab.org
What is the mission statement of Homeowner's Rehab Inc?
Homeowner's Rehab Inc is a non-profit organization dedicated to assisting individuals and families with low income by providing them with affordable housing solutions. Through acquiring, rehabilitating, and constructing new homes, the organization makes housing available at the lowest possible cost. Their mission extends beyond just providing housing, as they strive to promote neighborhood improvements for the benefit of people of limited means. By offering low-interest loans for home improvements, Homeowner's Rehab Inc plays a pivotal role in stimulating the renovation and enhancement of properties across various communities.
Official website here: www.homeownersrehab.org
Who is the CEO of Homeowner's Rehab Inc?
Sara Barcan is the Treasurer of Homeowner's Rehab Inc.
Official website here: www.homeownersrehab.org
What is the revenue of Homeowner's Rehab Inc?
Homeowner's Rehab Inc's revenue in 2022 was $13,581,541.
Official website here: www.homeownersrehab.org
Who are the executives of Homeowner's Rehab Inc and what are their salaries?
The average compensation at Homeowner's Rehab Inc during 2022 was $106,725. There are 15 employees at Homeowner's Rehab Inc.
Here are 17 key members and their salaries:
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- Compensation: $111,699
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- Other: $23,435
- Compensation: $185,329
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- Other: $20,183
Official website here: www.homeownersrehab.org
Where can I find the form 990 for Homeowner's Rehab Inc?
Homeowner's Rehab Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.homeownersrehab.org
Learn more at the official website: www.homeownersrehab.org
Mission Statement of Homeowner's Rehab Inc
Homeowner's Rehab Inc, a mission-driven organization, strives to provide affordable housing solutions to low-income individuals and families in Massachusetts. With the goal of making the dream of owning a decent home a reality, this nonprofit makes low-interest loans available for home improvements and new constructions. Their objective is to revitalize existing housing stock and spur neighborhood improvements, ultimately benefiting individuals of limited means, regardless of race, religion, or nationality.
Homeowner's Rehab Inc's commitment goes beyond just offering financial assistance. They aim to stimulate the renovation and improvement of properties, which in turn contributes to enhancing the living conditions of those who call these neighborhoods home. By promoting neighborhood improvements, Homeowner's Rehab Inc plays a vital role in fostering vibrant, sustainable communities where everyone can thrive.
In summary, Homeowner's Rehab Inc is a dedicated nonprofit that provides low-interest loans and spearheads improvements for low-income homeowners, making a meaningful difference in their lives while also contributing to the betterment of their communities.
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Impact
October, 2024
Homeowner's Rehab Inc significantly impacts the community by providing low-interest loans to low-income homeowners, facilitating critical improvements to their properties. This financial support enables individuals and families to enhance their living conditions, which is essential for fostering stable and thriving neighborhoods.
The organization also plays a vital role in developing low-income housing and rehabilitating aging housing stock in Cambridge, Massachusetts. By acquiring and renovating properties, it not only creates affordable housing options but also contributes to the overall revitalization of the area. This, in turn, helps promote neighborhood improvements that benefit residents of various backgrounds and socioeconomic statuses.
Through its efforts, Homeowner's Rehab Inc addresses the urgent need for affordable housing while ensuring that renovations and new constructions meet the needs of families across different races, religions, and nationalities. The organization's commitment to making housing accessible at the lowest possible cost is a critical component of its mission to uplift those with limited means and stimulate community growth.
This information is meant to be a general summary of Homeowner's Rehab 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: $1,591,999
- Program Service Revenue: $10,792,473
- Gross Receipts: $13,581,541
Assets and Liabilities:
- Total Assets: $137,772,671
- Total Liabilities: $72,897,459
- Net Assets: $64,875,212
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MGMT & DEV FEES
Revenue
$7,625,896
RENTAL INCOME
Revenue
$3,166,577
Organization Details
Founding Year
1972
Phone
(617) 868-4858Principal Officer
Sara Barcan
Main Address
280 FRANKLIN STREET, CAMBRIDGE, MA, 02139
Website
www.homeownersrehab.orgNTEE Category
Code: L80Z - Housing
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