Overview
What is Homeowner Options For Massachusetts Elderly Inc?
Homeowner Options For Massachusetts Elderly Inc, situated in Lowell, Massachusetts, is a nonprofit organization committed to offering guidance and resources to financially struggling elderly homeowners in the state. Their mission involves providing counseling on various financial, housing, and equity protection options, aiming to support elderly individuals in need. With a team of three dedicated professionals, they strive to help elderly homeowners retain the equity in their properties, ensuring they can maintain their independence and security as they age.
Official website here: www.elderhomeowners.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75%, Three-Star out of Four Star rating.
Homeowner Options For Massachusetts Elderly Inc has received a score of 75%, which reflects a solid performance in terms of accountability and finance. The charity benefits from a fully independent board, with 88% of its members independent, and has a favorable liabilities-to-assets ratio of 0.00%. Most of its operations appear efficient, as indicated by a program expense ratio of 69.20%.
However, the organization faces notable limitations in its governance practices, specifically the absence of critical policies such as conflict of interest, whistleblower, and document retention policies. These missing elements could potentially raise concerns regarding transparency and accountability within the organization. Despite this, the charity does maintain proper documentation of board meeting minutes, which is a positive aspect of its governance.
This AI summary has been generated from information found on Charity Navigator.
Is Homeowner Options For Massachusetts Elderly Inc legitimate?
Homeowner Options For Massachusetts Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homeowner Options For Massachusetts 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: $40,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $31,034
For more financial information, click here
Official website here: www.elderhomeowners.com
What is the mission statement of Homeowner Options For Massachusetts Elderly Inc?
Homeowner Options For Massachusetts Elderly Inc is dedicated to offering counseling services to economically challenged elderly individuals in Massachusetts. Their primary focus is on providing guidance related to financial, housing, and resource options. The aim is to help these elderly homeowners protect the equity in their homes. The organization's activities involve educating and supporting these individuals, providing them with the necessary information to make informed decisions about their financial and housing choices.
Official website here: www.elderhomeowners.com
Who is the CEO of Homeowner Options For Massachusetts Elderly Inc?
Leonard F Raymond is the President of Homeowner Options For Massachusetts Elderly Inc.
Official website here: www.elderhomeowners.com
What is the revenue of Homeowner Options For Massachusetts Elderly Inc?
Homeowner Options For Massachusetts Elderly Inc's revenue in 2022 was $67,357.
Official website here: www.elderhomeowners.com
Who are the executives of Homeowner Options For Massachusetts Elderly Inc and what are their salaries?
The average compensation at Homeowner Options For Massachusetts Elderly Inc during 2022 was $23,678. There are 3 employees at Homeowner Options For Massachusetts Elderly Inc.
Here are 8 key members and their salaries:
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Official website here: www.elderhomeowners.com
Where can I find the form 990 for Homeowner Options For Massachusetts Elderly Inc?
Homeowner Options For Massachusetts Elderly Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.elderhomeowners.com
Learn more at the official website: www.elderhomeowners.com
Mission Statement of Homeowner Options For Massachusetts Elderly Inc
Homeowner Options for Massachusetts Elderly Inc is a dedicated organization that aims to provide counseling and guidance to financially vulnerable elderly residents of Massachusetts. The primary objective of this nonprofit is to help these individuals protect the equity in their homes. By offering expert advice on financial, housing, and resource options, Homeowner Options for Massachusetts Elderly Inc empowers elderly homeowners to make informed decisions about their future. This counseling service is crucial for elderly individuals who wish to safeguard their property equity while navigating their financial needs. The organization's mission is to ensure that elderly Massachusetts residents have the necessary resources and knowledge to make informed decisions about their housing and financial future, thereby promoting financial security and stability among this vulnerable population.
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Impact
August, 2024
Homeowner Options For Massachusetts Elderly Inc's impact can be seen in the valuable support and guidance it provides to elderly individuals in Massachusetts who are in need of assistance in protecting the equity in their homes. By offering counseling on financial, housing, and resource options, the organization helps vulnerable seniors make informed decisions to safeguard their assets and maintain their housing security. This specialized assistance is crucial in ensuring that elderly individuals can age in place with dignity and financial stability, ultimately contributing to their overall well-being and quality of life.
This information is meant to be a general summary of Homeowner Options For Massachusetts 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: $19
- Gross Receipts: $67,357
Assets and Liabilities:
- Total Assets: $9,088
- Total Liabilities: $0
- Net Assets: $9,088
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Organization Details
Founding Year
1986
Phone
(978) 970-0012Principal Officer
Leonard F Raymond
Main Address
87 HALE STREET 2ND FLOOR, LOWELL, MA, 01851
Website
www.elderhomeowners.comNTEE Category
Code: L80Z - Housing
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