St Mary's Plaza Inc In Care Of Maloney Properties Inc

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 042718603 ✦ Wellesley, MA ✦ Designated as a 501(c)(3)

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Overview

What is St Mary's Plaza Inc In Care Of Maloney Properties Inc?

St. Mary's Plaza Inc., under the umbrella of Maloney Properties Inc., is a nonprofit organization situated in Wellesley, Massachusetts. Their primary mission is to provide affordable housing for the elderly and individuals with disabilities, as evidenced by the 98 units they have made available for this purpose. The organization's key objective is to ensure that these vulnerable groups have access to suitable housing, thereby enhancing their quality of life.

What are the reviews and ratings of this charity?

Charity Navigator rates St Mary's Plaza Inc at 67%, which corresponds to a Two-Star out of Four Star rating. This score reflects a moderate performance in terms of accountability and finance, indicating areas where the organization meets standards as well as areas needing improvement.

The organization scores well in several key metrics, including having a fully independent board and a high program expense ratio, suggesting that most of its resources are directed towards its mission. However, significant concerns arise from the liabilities to assets ratio, indicating potential financial instability. The charity also demonstrates strong governance practices with documented board meeting minutes and an established audit and oversight committee.

On the downside, the charity lacks several critical policies, such as a conflict of interest policy, whistleblower policy, and a document retention policy. Additionally, the absence of its tax form on the nonprofit's website raises transparency concerns, which may impact donor confidence. Overall, while the organization shows strengths in governance and program spending, it has important areas to address for improved accountability and financial health.


This AI summary has been generated from information found on Charity Navigator.

Is St Mary's Plaza Inc In Care Of Maloney Properties Inc legitimate?

St Mary's Plaza Inc In Care Of Maloney Properties Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Mary's Plaza Inc In Care Of Maloney Properties 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here

What is the mission statement of St Mary's Plaza Inc In Care Of Maloney Properties Inc?

St. Mary's Plaza Inc., under the management of Maloney Properties Inc., is committed to providing low-income housing for elderly and handicapped individuals. This mission is reflected in their provision of 98 such units. Their goal is to offer a living space that is accessible and affordable for those who may face challenges in other housing options due to their age or disability.

Who is the CEO of St Mary's Plaza Inc In Care Of Maloney Properties Inc?

Edward Tcalnan is the Principal Officer of St Mary's Plaza Inc In Care Of Maloney Properties Inc.

What is the revenue of St Mary's Plaza Inc In Care Of Maloney Properties Inc?

St Mary's Plaza Inc In Care Of Maloney Properties Inc's revenue in 2022 was $1,644,061.

Who are the executives of St Mary's Plaza Inc In Care Of Maloney Properties Inc and what are their salaries?


Here are 6 key members and their salaries:


Ann Mannion (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Edward T Calnan (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Fr Brian Flynn (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Frank Rooney (Clerk)
  • Compensation: $0
  • Related: $0
  • Other: $0
Maryclare Forry (Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Noreen Maggio (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for St Mary's Plaza Inc In Care Of Maloney Properties Inc?

St Mary's Plaza Inc In Care Of Maloney Properties Inc's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of St Mary's Plaza Inc In Care Of Maloney Properties Inc

St. Mary's Plaza Inc., in association with Maloney Properties Inc., is committed to a noble mission. Their primary objective is to provide low-income housing for elderly and handicapped individuals. This organization recognizes the unique housing needs of this vulnerable population and strives to meet those needs by offering 98 housing units. By doing so, St. Mary's Plaza Inc. contributes to the well-being and dignity of these individuals, enabling them to live comfortably and independently.

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Impact




July, 2024

St Mary's Plaza Inc In Care Of Maloney Properties Inc's impact lies in its provision of low-income housing for elderly and handicapped persons. Through the 98 units provided in Wellesley, MA, the organization fulfills its mission of offering suitable living arrangements for individuals in need. This tangible support contributes to the well-being and quality of life of the residents, ensuring they have access to affordable and safe housing options.




This information is meant to be a general summary of St Mary's Plaza Inc In Care Of Maloney Properties 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.

Revenue
$1,644,061 (2022)
Expenses
$1,768,064 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $5,726
  • Program Service Revenue: $1,635,735
  • Gross Receipts: $1,644,061

Assets and Liabilities:

  • Total Assets: $3,433,473
  • Total Liabilities: $5,130,428
  • Net Assets: -$1,696,955

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

RENTAL INCOME

Revenue

$1,635,735

Organization Details

Founding Year

1979

Principal Officer

Edward Tcalnan

Main Address

27 MICA LANE, WELLESLEY, MA, 02481

NTEE Category

Code: L21 - Housing

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