Overview
What is Spring Meadow Association Of Responsible Tenants Inc?
Spring Meadow Association of Responsible Tenants Inc is a nonprofit organization situated in Springfield, Massachusetts. Their primary goal is to provide affordable housing and resident services to low-income families, specifically families with children. They have managed to accommodate 270 families in their two and three-bedroom townhouses. The organization's mission involves acquiring, rehabilitating, and operating an affordable housing project in Springfield, MA. Their focus on providing affordable housing and supporting services demonstrates their commitment to making a positive impact on their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Spring Meadow Association Of Responsible Tenants Inc has received a two-star rating from Charity Navigator, indicating that while there are some strengths, significant issues exist in areas of accountability and financial management. The organization boasts a high program expense ratio of 84.31%, demonstrating a strong commitment to its mission-related activities. Additionally, the board is fully independent, which is a positive indicator for governance.
However, the nonprofit faces notable challenges, particularly concerning its financial oversight. The liabilities to assets ratio is significantly high at 189.44%, which raises concerns about the organization's financial stability. Furthermore, critical governance documents, including the tax form, conflict of interest, whistleblower, and document retention policies, are missing, indicating potential gaps in transparency and accountability.
Overall, while Spring Meadow Association Of Responsible Tenants Inc shows promise in its program execution, improvements in financial health and governance documentation are essential for enhancing its credibility and effectiveness as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Spring Meadow Association Of Responsible Tenants Inc legitimate?
Spring Meadow Association Of Responsible Tenants Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Spring Meadow Association Of Responsible Tenants 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
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What is the mission statement of Spring Meadow Association Of Responsible Tenants Inc?
Spring Meadow Association of Responsible Tenants Inc. is committed to acquiring, rehabilitating, and operating an affordable housing project. Their primary mission is to own, restore, and manage affordable housing units, ensuring accessibility for low-income families. The organization currently manages 270 units of two and three-bedroom townhouses, all occupied by families with children. Their goal is to provide affordable housing and resident services programs, aiming to enhance the living conditions and well-being of their tenants.
Who is the CEO of Spring Meadow Association Of Responsible Tenants Inc?
Keya Hicks is the President of Spring Meadow Association Of Responsible Tenants Inc.
What is the revenue of Spring Meadow Association Of Responsible Tenants Inc?
Spring Meadow Association Of Responsible Tenants Inc's revenue in 2022 was $4,200,695.
Who are the executives of Spring Meadow Association Of Responsible Tenants Inc and what are their salaries?
There 6 volunteers at Spring Meadow Association Of Responsible Tenants Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Spring Meadow Association Of Responsible Tenants Inc?
Spring Meadow Association Of Responsible Tenants Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Spring Meadow Association Of Responsible Tenants Inc
Spring Meadow Association of Responsible Tenants Inc, as a nonprofit organization, is committed to acquiring, rehabilitating, and operating an affordable housing project. Their primary mission is to own, rehabilitate, and operate affordable housing, specifically in Springfield, MA. By doing so, they aim to provide a residential program that caters to low-income families, offering them affordable living spaces. The association currently manages 270 units of two and three-bedroom townhouses, all of which are occupied by families with children.
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Impact
July, 2024
Spring Meadow Association Of Responsible Tenants Inc's impact is significant in providing affordable housing and resident services programs to low-income families in Springfield, MA. Through the acquisition, rehabilitation, and operation of a housing project with 270 units, all occupied by families with children, the organization directly addresses the housing needs of vulnerable populations. By offering two and three-bedroom townhouses at affordable rates, the association plays a crucial role in ensuring that these families have a safe and stable place to call home. The provision of affordable housing not only meets a basic human need but also contributes to the overall well-being and stability of the community.
This information is meant to be a general summary of Spring Meadow Association Of Responsible Tenants 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: $1,394
- Program Service Revenue: $4,199,301
- Gross Receipts: $4,200,695
Assets and Liabilities:
- Total Assets: $13,684,795
- Total Liabilities: $24,543,276
- Net Assets: -$10,858,481
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$4,070,494
TENANT FUND REVENUE
Revenue
$114,858
TENANT CHARGES
Revenue
$13,185
OTHER INCOME
Revenue
$764
Organization Details
Founding Year
1991
Phone
(413) 783-5250Principal Officer
Keya Hicks
Main Address
176 CANNON CIRCLE, SPRINGFIELD, MA, 01118
NTEE Category
Code: L20 - Housing
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