Overview
What is Byfield Housing For The Elderly Inc?
Byfield Housing For The Elderly Inc is a nonprofit organization located in Byfield, Massachusetts. They are dedicated to providing housing solutions for elderly individuals and those with disabilities, primarily through a 46-unit apartment complex named Oak Ridge and Quaker Hill. The organization receives financial support from the United States Department of Agriculture (USDA) to facilitate this mission. Byfield Housing For The Elderly Inc's objective is to promote independent living for senior citizens, individuals with disabilities, and other individuals of low and moderate income levels. Their mission is aligned with the USDA's rural rental housing loans, ensuring affordable housing options for these vulnerable populations. The organization operates with a small team of one dedicated employee.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 65%, earning it a Two-Star out of Four Star rating. This rating indicates that Byfield Housing For The Elderly Inc has some strengths but also significant areas needing improvement. The organization benefits from a fully independent board and has demonstrated a solid commitment to its program expenses, with an impressive program expense ratio of 100%.
The nonprofit has successfully maintained a policy against material diversion of assets and has implemented conflict of interest policies effectively. However, it has several critical gaps, such as the absence of a whistleblower policy and document retention procedures, which are essential for transparency and accountability. Additionally, the lack of accessible tax forms on the nonprofit's website hinders public transparency.
The liabilities to assets ratio is notably high at 197.57%, raising concerns about the organization's financial stability. While the governance aspects show some strong points, the overall financial health and transparency issues are significant limitations that stakeholders should consider when evaluating the efficacy and reliability of Byfield Housing For The Elderly Inc.
This AI summary has been generated from information found on Charity Navigator.
Is Byfield Housing For The Elderly Inc legitimate?
Byfield Housing For The Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Byfield Housing For The Elderly 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: $39,404
Professional Fundraising Fees: $0
Other Salaries and Wages: $54,210
For more financial information, click here
What is the mission statement of Byfield Housing For The Elderly Inc?
Byfield Housing for the Elderly Inc, a recipient of rural rental housing loans from the USDA, aims to provide housing for independent living for senior citizens, handicapped individuals, and other individuals with low and moderate incomes. The objective program intends to offer a 46-unit apartment complex in Oak Ridge and Quaker Hill, with subsidies from the United States Department of Agriculture (USDA). The organization's primary goal is to promote self-sufficiency and independence for its residents, ensuring they have a comfortable living environment.
Who is the CEO of Byfield Housing For The Elderly Inc?
Evelyn M Noyes is the President of Byfield Housing For The Elderly Inc.
What is the revenue of Byfield Housing For The Elderly Inc?
Byfield Housing For The Elderly Inc's revenue in 2022 was $490,031.
Who are the executives of Byfield Housing For The Elderly Inc and what are their salaries?
The average compensation at Byfield Housing For The Elderly Inc during 2022 was $93,614. There is 1 employee at Byfield Housing For The Elderly Inc.
Here are 7 key members and their salaries:
- Compensation: $39,404
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Byfield Housing For The Elderly Inc?
Byfield Housing For The Elderly Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Byfield Housing For The Elderly Inc
Byfield Housing For The Elderly Inc is dedicated to providing housing solutions for the independent living of senior citizens, individuals with disabilities, and other individuals of low and moderate income levels. The organization achieves this mission by being a recipient of rural rental housing loans from the United States Department of Agriculture (USDA). This financial aid enables Byfield Housing For The Elderly Inc to offer housing in a 46-unit apartment complex, catering to the needs of elderly and handicapped residents. The provision of subsidies from the USDA ensures that these essential living accommodations remain affordable and accessible, thereby enhancing the quality of life for those who reside there.
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Impact
July, 2024
Byfield Housing For The Elderly Inc's impact is significant in providing housing for elderly and handicapped persons in Byfield, MA. With a 46-unit apartment complex at Oak Ridge and Quaker Hill, the organization offers independent living opportunities for senior citizens, handicapped individuals, and others with low to moderate incomes. Through subsidies from the United States Department of Agriculture (USDA), Byfield Housing For The Elderly Inc plays a crucial role in supporting the housing needs of vulnerable populations in the community.
This information is meant to be a general summary of Byfield Housing For The Elderly 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: $3,105
- Program Service Revenue: $232,810
- Gross Receipts: $490,031
Assets and Liabilities:
- Total Assets: $1,572,361
- Total Liabilities: $3,106,565
- Net Assets: -$1,534,204
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$232,810
Organization Details
Founding Year
1976
Phone
(978) 465-7408Principal Officer
Evelyn M Noyes
Main Address
PO BOX 341, BYFIELD, MA, 01922
NTEE Category
Code: L22 - Housing
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