Overview
What is Merrimack Valley Housing Services Inc?
Merrimack Valley Housing Services Inc is a nonprofit organization situated in Lowell, Massachusetts. Their primary mission is to provide affordable housing facilities for elderly and handicapped individuals who fall under the low-income bracket. The organization operates with a commitment to serving families, elderly people, and handicapped persons residing within the Merrimack Valley Planning District, all while ensuring their services are provided on a non-profit basis.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
Merrimack Valley Housing Services Inc has received a Three-Star rating from Charity Navigator, reflecting a score of 79%. This rating is primarily based on the organization’s accountability and finance practices, which earned a strong score of 79%. The organization's commitment to transparency is evident, with 100% of its board members being independent and a robust audit committee in place.
The nonprofit demonstrates effective financial management, indicated by a high program expense ratio of 84.57%, meaning that a significant portion of its expenses directly supports its programs. However, the organization faces challenges with its liabilities to assets ratio, which stood at 376.70%. This figure suggests potential financial strain that could impact its long-term sustainability.
Overall, Merrimack Valley Housing Services Inc shows strengths in governance and financial oversight, yet it is important for stakeholders to consider the implications of its high liabilities. Continued focus on improving financial health will be essential to maintain its positive impact within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Merrimack Valley Housing Services Inc legitimate?
Merrimack Valley Housing Services Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Merrimack Valley Housing Services 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: $226,133
For more financial information, click here
What is the mission statement of Merrimack Valley Housing Services Inc?
Merrimack Valley Housing Services Inc has a mission to provide housing facilities for families, elderly persons, and handicapped individuals of low income, residing within the Merrimack Valley Planning District, on a non-profit basis. Their primary objective is to assist this specific demographic by offering them suitable living accommodations. Additionally, the organization extends its services beyond just housing, aiming to support these individuals in various ways. This is done on a not-for-profit basis, demonstrating their commitment to serving the community.
Who is the CEO of Merrimack Valley Housing Services Inc?
Rita O'Brien Dee is the President of Merrimack Valley Housing Services Inc.
What is the revenue of Merrimack Valley Housing Services Inc?
Merrimack Valley Housing Services Inc's revenue in 2022 was $1,240,194.
Who are the executives of Merrimack Valley Housing Services Inc and what are their salaries?
There 3 volunteers at Merrimack Valley Housing Services Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Merrimack Valley Housing Services Inc?
Merrimack Valley Housing Services Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Merrimack Valley Housing Services Inc
Merrimack Valley Housing Services Inc is dedicated to supporting individuals of low income, specifically elderly and handicapped persons, by providing them with suitable housing facilities. This non-profit organization's mission is to extend its services to families, elderly persons, and handicapped individuals residing within the Merrimack Valley Planning District, all on a non-profit basis. By doing so, Merrimack Valley Housing Services Inc aims to contribute to the well-being of these individuals, ensuring they have access to adequate housing. This commitment to providing housing and associated services is a testament to the organization's dedication to improving the quality of life for those in need.
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Impact
July, 2024
Merrimack Valley Housing Services Inc's impact is significant in providing low-income elderly and handicapped individuals with essential housing facilities in Lowell, MA. By offering a safe and affordable housing option for these vulnerable populations, the organization is addressing a critical need within the community. Their mission to serve families, elderly persons, and handicapped individuals of low income in the Merrimack Valley Planning District demonstrates a commitment to improving the quality of life for those in need. Through their non-profit approach, Merrimack Valley Housing Services Inc contributes to creating a more inclusive and supportive environment for those facing housing challenges in the region.
This information is meant to be a general summary of Merrimack Valley Housing Services 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: $817
- Program Service Revenue: $238,841
- Gross Receipts: $1,240,194
Assets and Liabilities:
- Total Assets: $2,074,249
- Total Liabilities: $7,624,620
- Net Assets: -$5,550,371
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
APARTMENT RENT
Revenue
$238,841
Organization Details
Founding Year
1981
Phone
(978) 459-0551Principal Officer
Rita O'Brien Dee
Main Address
155 MERRIMACK STREET, LOWELL, MA, 01852
NTEE Category
Code: L22Z - Housing
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