Overview
What is Colony Retirement Homes Iv Inc?
Colony Retirement Homes Iv Inc is a nonprofit organization situated in Worcester, Massachusetts, with an address at 123 Holden Street. Their primary mission is to develop and provide subsidized housing for low-income elderly individuals, demonstrating a strong commitment to this demographic. The organization is dedicated to ensuring that seniors of modest income have access to affordable housing options, thus enhancing their quality of life.
Official website here: www.colonyretirementhomes.com
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 81% (Three-Star out of Four Star rating)
Colony Retirement Homes Iv Inc has earned a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The organization scored 81%, which reflects careful management of resources, particularly in its accountability and finance practices.
Strengths of the nonprofit include a fully independent board of directors, which enhances governance and oversight. The organization has also demonstrated transparency through comprehensive policies, such as conflict of interest and whistleblower policies, which are crucial for ethical management. Additionally, the program expense ratio of 74.52% suggests that a significant portion of funds are directed toward its intended programs.
While the overall score is commendable, it is important to consider the reliance on a single beacon score to evaluate the organization. Future assessments could benefit from a broader range of performance indicators to provide a more complete picture of the nonprofit's effectiveness and impact in its community.
This AI summary has been generated from information found on Charity Navigator.
Is Colony Retirement Homes Iv Inc legitimate?
Colony Retirement Homes Iv Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Colony Retirement Homes Iv 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: $206,827
For more financial information, click here
Official website here: www.colonyretirementhomes.com
What is the mission statement of Colony Retirement Homes Iv Inc?
Colony Retirement Homes Iv Inc is committed to providing affordable housing options for seniors with low and moderate incomes. Their mission is evident in their dedication to developing and providing subsidized housing, ensuring that elderly individuals have access to suitable living arrangements. This organization's primary goal is to make housing more affordable for this specific demographic, thereby enhancing their quality of life.
Official website here: www.colonyretirementhomes.com
Who is the CEO of Colony Retirement Homes Iv Inc?
Michael Mills is the President of Colony Retirement Homes Iv Inc.
Official website here: www.colonyretirementhomes.com
What is the revenue of Colony Retirement Homes Iv Inc?
Colony Retirement Homes Iv Inc's revenue in 2022 was $1,572,074.
Official website here: www.colonyretirementhomes.com
Who are the executives of Colony Retirement Homes Iv Inc and what are their salaries?
There 12 volunteers at Colony Retirement Homes Iv 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 Iv Inc?
Colony Retirement Homes Iv 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 Iv Inc
Colony Retirement Homes Iv Inc is committed to providing affordable housing for seniors who fall under the categories of low and moderate income. This nonprofit organization's mission is to develop and offer subsidized housing options, ensuring that elderly individuals have access to suitable living arrangements within their financial means. By doing so, Colony Retirement Homes Iv Inc aims to contribute to the well-being and comfort of this vulnerable population, enabling them to maintain a dignified and secure living environment.
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Impact
July, 2024
Colony Retirement Homes IV Inc's impact can be seen in the crucial support it provides to low and moderate-income seniors in Worcester, MA. By developing and offering subsidized housing for the elderly, this organization plays a vital role in ensuring that this vulnerable population has access to safe and affordable living arrangements. Colony Retirement Homes IV Inc's efforts directly contribute to enhancing the quality of life for seniors in need, allowing them to live with dignity and security despite their financial limitations. Their dedication to providing housing support aligns with their mission of making a positive difference in the lives of seniors facing economic challenges.
This information is meant to be a general summary of Colony Retirement Homes Iv 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: $480
- Program Service Revenue: $1,293,451
- Gross Receipts: $1,572,074
Assets and Liabilities:
- Total Assets: $3,481,218
- Total Liabilities: $4,173,991
- Net Assets: -$692,773
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE
Revenue
$1,293,451
Organization Details
Founding Year
1979
Phone
(508) 853-2211Principal Officer
Michael Mills
Main Address
123 HOLDEN STREET, WORCESTER, MA, 01606
NTEE Category
Code: L22 - Housing
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