Overview
What is Housing Opportunities Milton Elderly In?
Housing Opportunities Milton Elderly In is a nonprofit organization situated in Milton, Massachusetts. Their primary mission is to provide affordable housing facilities for elderly, aged, or handicapped individuals, ensuring their physical, social, and psychological needs are met. They strive to create a secure and happy living environment for these individuals by offering services tailored to their specific needs. Interestingly, they aim to keep the costs of these facilities and services below their actual cost, thanks to contributions, bequests, or the organization's income. With a dedicated team of three individuals, Housing Opportunities Milton Elderly In is committed to enhancing the quality of life for the elderly and handicapped population in their community.
Official website here: www.homeincmilton.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 69%)
Housing Opportunities Milton Elderly Inc. has received a rating of "Needs Improvement" from Charity Navigator, indicating that while the organization performs well in certain areas, there are significant gaps that need addressing. The organization has a perfect score in Accountability & Finance, showcasing strong governance features such as a majority of independent board members and an effective audit and oversight committee.
However, the nonprofit struggles with several critical compliance issues, including missing policies for conflict of interest, whistleblower protection, and document retention. Additionally, the organization has a concerning liabilities to assets ratio of 202.14%, which suggests potential financial instability. Despite these challenges, the program expense ratio is commendable at 94.48%, indicating that a considerable portion of resources is directed towards its mission-related activities.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Opportunities Milton Elderly In legitimate?
Housing Opportunities Milton Elderly In is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Opportunities Milton Elderly In 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: $90,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $150,893
For more financial information, click here
Official website here: www.homeincmilton.com
What is the mission statement of Housing Opportunities Milton Elderly In?
Housing Opportunities Milton Elderly In is committed to providing suitable housing facilities on a non-profit basis. These facilities are intended for the use and occupation of elderly, aged, or handicapped individuals. The organization aims to offer services specifically designed to meet their physical, social, and psychological needs, promoting their health, security, and happiness in longer living. The charges for these facilities and services are intended to be below the actual cost, made possible through contributions, bequests, or income of the corporation, ensuring affordability for the intended population.
Official website here: www.homeincmilton.com
What is the revenue of Housing Opportunities Milton Elderly In?
Housing Opportunities Milton Elderly In's revenue in 2023 was $1,884,741.
Official website here: www.homeincmilton.com
Who are the executives of Housing Opportunities Milton Elderly In and what are their salaries?
The average compensation at Housing Opportunities Milton Elderly In during 2023 was $60,348. There are 4 employees at Housing Opportunities Milton Elderly In.
Here are 9 key members and their salaries:
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Official website here: www.homeincmilton.com
Where can I find the form 990 for Housing Opportunities Milton Elderly In?
Housing Opportunities Milton Elderly In's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.homeincmilton.com
Learn more at the official website: www.homeincmilton.com
Mission Statement of Housing Opportunities Milton Elderly In
Housing Opportunities Milton Elderly In, as a non-profit organization, is committed to providing suitable housing facilities for elderly, aged, or handicapped individuals. This is done with a view to promoting their health, security, and happiness in their later years. The organization offers housing and services at costs lower than their actual value, thanks to contributions, bequests, and income they receive. These services are specifically designed to address the physical, social, and psychological needs of the elderly, aged, and handicapped, aiming to enhance their overall well-being. Housing Opportunities Milton Elderly In's mission is to ensure that these individuals can live comfortably and securely in their advanced years.
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Impact
July, 2024
Housing Opportunities Milton Elderly In provides adequate housing facilities for elderly, aged, or handicapped persons in Milton, MA. Their impact is evident in the promotion of health, security, and happiness in longer living for this vulnerable population. By offering housing below the actual cost, they ensure that these individuals have access to a safe and supportive living environment tailored to their physical, social, and psychological needs. In doing so, Housing Opportunities Milton Elderly In contributes significantly to the well-being and quality of life of the elderly, aged, and handicapped residents they serve.
This information is meant to be a general summary of Housing Opportunities Milton Elderly In. 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: $277,635
- Program Service Revenue: $1,409,024
- Gross Receipts: $3,787,374
Assets and Liabilities:
- Total Assets: $16,273,256
- Total Liabilities: $29,272,635
- Net Assets: -$12,999,379
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME FROM HOUSING
Revenue
$1,409,024
Organization Details
Founding Year
1977
Principal Officer
James Cronin
Website
www.homeincmilton.comNTEE Category
Code: L22Z - Housing
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