Overview
What is Colony Retirement Homes Of Holden Inc?
Colony Retirement Homes Of Holden Inc, headquartered at 68 Reservoir Street, Holden, Massachusetts, is a dedicated nonprofit organization committed to addressing the housing needs of low-income senior citizens. Their mission is centered around providing affordable living accommodations, catering to seniors who fall under the categories of low and moderate income. With a focus on this demographic, Colony Retirement Homes Of Holden Inc strives to make a significant impact in their community, contributing to the well-being and comfort of the elderly population.
Official website here: www.colonyretirementhomes.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Colony Retirement Homes Of Holden Inc has received an overall score of 81%, reflecting a solid performance in accountability and finance. The organization has achieved a perfect score in several areas, including having a fully independent board and robust financial oversight mechanisms. These strengths indicate a commitment to transparency and responsible financial management, which are critical for donor confidence.
Despite its strong points, the nonprofit faces challenges, particularly with its liabilities to assets ratio, which stands at 323.87%. This significantly impacts its financial stability score, highlighting potential concerns regarding its financial health. However, the organization maintains a high ratio of program expenses at 84%, suggesting that a substantial portion of its resources is directed toward its mission.
Overall, while Colony Retirement Homes Of Holden Inc demonstrates effective governance and operational transparency, potential donors should consider the implications of its liabilities when evaluating their support. The organization’s focus on accountability is commendable, but addressing financial stability will be essential for its long-term viability.
This AI summary has been generated from information found on Charity Navigator.
Is Colony Retirement Homes Of Holden Inc legitimate?
Colony Retirement Homes Of Holden Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Colony Retirement Homes Of Holden 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: $50,217
Professional Fundraising Fees: $0
Other Salaries and Wages: $209,800
For more financial information, click here
Official website here: www.colonyretirementhomes.com
What is the mission statement of Colony Retirement Homes Of Holden Inc?
Colony Retirement Homes Of Holden Inc is committed to providing affordable housing options for seniors who fall under the categories of low and moderate income. Their mission is clearly stated, emphasizing their dedication to this cause. The organization focuses on developing and providing subsidized housing, ensuring that elderly individuals do not face housing challenges due to financial restrictions. By offering affordable housing, Colony Retirement Homes Of Holden Inc strives to support the well-being and dignity of seniors, ensuring they can live comfortably and independently.
Official website here: www.colonyretirementhomes.com
Who is the CEO of Colony Retirement Homes Of Holden Inc?
Michael Mills is the President of Colony Retirement Homes Of Holden Inc.
Official website here: www.colonyretirementhomes.com
What is the revenue of Colony Retirement Homes Of Holden Inc?
Colony Retirement Homes Of Holden Inc's revenue in 2022 was $1,433,926.
Official website here: www.colonyretirementhomes.com
Who are the executives of Colony Retirement Homes Of Holden Inc and what are their salaries?
There 12 volunteers at Colony Retirement Homes Of Holden Inc.
Here are 16 key members and their salaries:
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- Related: $117,156
- Other: $20,589
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- Related: $99,378
- Other: $13,961
Official website here: www.colonyretirementhomes.com
Where can I find the form 990 for Colony Retirement Homes Of Holden Inc?
Colony Retirement Homes Of Holden Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.colonyretirementhomes.com
Learn more at the official website: www.colonyretirementhomes.com
Mission Statement of Colony Retirement Homes Of Holden Inc
Colony Retirement Homes of Holden, Inc. is committed to providing affordable housing options for seniors who fall under the categories of low and moderate income. This nonprofit organization's mission is to develop and manage subsidized housing, ensuring that the elderly population has access to living spaces that fit their financial capabilities. By offering affordable housing, Colony Retirement Homes of Holden, Inc. aims to contribute positively to the lives of seniors, providing them with a sense of security and stability in their later years.
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Impact
July, 2024
Colony Retirement Homes Of Holden Inc's impact lies in providing a valuable service to seniors of low and moderate income in the city of Holden, Massachusetts. By developing and offering subsidized housing for this vulnerable demographic, the organization plays a crucial role in ensuring that these individuals have access to affordable and safe living accommodations during their retirement years. This not only contributes to the well-being and security of the seniors themselves but also helps to address broader societal issues related to housing affordability and accessibility for the elderly population. Ultimately, Colony Retirement Homes Of Holden Inc's efforts make a positive difference in the lives of the seniors they serve and contribute to creating a more inclusive and supportive community for all its residents.
This information is meant to be a general summary of Colony Retirement Homes Of Holden 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: $449
- Program Service Revenue: $1,308,470
- Gross Receipts: $1,433,926
Assets and Liabilities:
- Total Assets: $2,469,680
- Total Liabilities: $7,745,887
- Net Assets: -$5,276,207
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE
Revenue
$1,308,470
Organization Details
Founding Year
1978
Phone
(508) 829-4300Principal Officer
Michael Mills
Main Address
68 RESERVOIR STREET, HOLDEN, MA, 01520
NTEE Category
Code: L99 - Housing
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