Overview
What is Residential Options Inc?
Residential Options Inc is a nonprofit organization situated in Danvers, Massachusetts. Their primary role involves holding real estate properties, specifically a residential building and three condo units. These properties are utilized for providing supportive services to seven individuals with disabilities, who are enrolled in programs operated by Northeast Arc Inc, an affiliated 501(c)(3) non-profit organization. The goal of Residential Options Inc is to support Northeast Arc Inc's mission through its HUD program, thereby contributing to the well-being of individuals with disabilities.
Official website here: www.ne-arc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
Residential Options Inc has earned a Three-Star rating from Charity Navigator, with an overall score of 82%. This rating is primarily based on its Accountability & Finance score, which reflects the organization’s financial health and governance practices. An impressive program expense ratio of 95.30% indicates that a significant portion of its funds is directed towards its programs, which is a positive sign for potential donors.
The organization demonstrates strong governance, with all board members being independent, contributing to its high scores in areas like conflict of interest and whistleblower policies. Furthermore, the charity maintains transparency by ensuring its website is listed on its tax forms and by keeping meticulous records of board meeting minutes.
While the overall score is commendable, it is important for potential supporters to consider that this rating is based solely on the Accountability & Finance metrics. As such, they may want to look deeper into the organization's program impact and community feedback to gain a fuller picture of its effectiveness and reach.
This AI summary has been generated from information found on Charity Navigator.
Is Residential Options Inc legitimate?
Residential Options Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Residential Options 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
Official website here: www.ne-arc.org
What is the mission statement of Residential Options Inc?
Residential Options Inc's primary role is to support Northeast Arc, a related 501(c)(3) organization, by holding real estate properties. One of these properties is a residential home, while the others are three condo units. The mission of Residential Options Inc, in essence, is to provide suitable living spaces for individuals with disabilities, who are receiving services through programs operated by Northeast Arc, Inc. These individuals reside in the residential building owned by Residential Options Inc. The organization's mission is centered around supporting Northeast Arc's HUD program, which aims to provide housing solutions for individuals with disabilities.
Official website here: www.ne-arc.org
Who is the CEO of Residential Options Inc?
Cynthia Park is the Director of Residential Options Inc.
Official website here: www.ne-arc.org
What is the revenue of Residential Options Inc?
Residential Options Inc's revenue in 2022 was $65,728.
Official website here: www.ne-arc.org
Who are the executives of Residential Options Inc and what are their salaries?
There 3 volunteers at Residential Options Inc.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $327,762
- Other: $126,847
- Compensation: $0
- Related: $168,422
- Other: $15,422
- Compensation: $0
- Related: $217,287
- Other: $14,750
Official website here: www.ne-arc.org
Where can I find the form 990 for Residential Options Inc?
Residential Options Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ne-arc.org
Learn more at the official website: www.ne-arc.org
Mission Statement of Residential Options Inc
Residential Options Inc, as a 500(C)(3) organization, has a mission to support its affiliated entity, Northeast Arc Inc, by holding real estate properties. One of these properties is a residential home, while the other three are condo units. The primary purpose of these housing units is to serve individuals with disabilities who are receiving assistance through programs operated by Northeast Arc Inc. The organization's role is crucial in providing a living space for these individuals, contributing to their overall well-being and enabling them to receive necessary services. By holding these properties, Residential Options Inc plays a significant role in the broader mission of Northeast Arc Inc, which is to empower individuals with disabilities and help them lead fulfilling lives. The organization's commitment to this mission is evident in its dedication to maintaining these properties and ensuring they serve as safe and supportive living environments for those in need.
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Impact
August, 2024
Residential Options Inc's impact is providing housing and support for individuals with disabilities. The organization owns residential properties where seven individuals with disabilities receive services through programs operated by Northeast ARC, a nonprofit organization. By holding real estate for Northeast ARC's HUD program, Residential Options Inc contributes to ensuring that these individuals have a safe and supportive living environment.
This information is meant to be a general summary of Residential Options 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
- Program Service Revenue: $65,725
- Gross Receipts: $65,728
Assets and Liabilities:
- Total Assets: $433,410
- Total Liabilities: $590,097
- Net Assets: -$156,687
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTS
Revenue
$65,725
Organization Details
Founding Year
1985
Phone
(978) 762-4878Principal Officer
Cynthia Park
Main Address
1 SOUTHSIDE ROAD, DANVERS, MA, 01923
Website
www.ne-arc.orgNTEE Category
Code: P70 - Human services
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