Overview
What is St Mary's Apartmentsinc C/O Maloney Properties Inc?
St. Mary's Apartmentsinc C/O Maloney Properties Inc is a nonprofit organization situated at 27 Mica Lane, Wellsley, Massachusetts. Their primary focus is to offer affordable housing facilities and services to eligible individuals, adhering to regulations under HUD sections 202 and 8. Their mission is dedicated to enriching the lives of elderly people by providing them with suitable housing accommodations. The organization strives to ensure that these facilities meet the needs of their residents, offering them a comfortable and secure living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Stars)
St Mary's Apartmentsinc C/O Maloney Properties Inc has received a Three-Star rating from Charity Navigator, indicating a respectable level of accountability and finance management. The overall rating is influenced entirely by its Accountability & Finance score of 75%, which reflects the organization's transparency and governance practices. Key strengths include the composition of its board, which is fully independent, and robust financial oversight mechanisms that ensure proper management of resources.
The charity excels in several areas, scoring full marks for its independent board members, audit and oversight committee, and conflict of interest policies, showcasing a strong commitment to ethical practices. Additionally, it maintains a high program expense ratio, indicating that nearly all financial resources are directed toward its mission-driven activities.
However, a notable weakness is its liabilities to assets ratio, which stands at 186.42%. This figure suggests that the organization may have more liabilities than assets, raising potential concerns regarding financial stability. Overall, while St Mary's Apartmentsinc demonstrates solid governance, it may need to address this financial imbalance to enhance its sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is St Mary's Apartmentsinc C/O Maloney Properties Inc legitimate?
St Mary's Apartmentsinc C/O Maloney Properties Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Mary's Apartmentsinc C/O 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: $218,957
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What is the mission statement of St Mary's Apartmentsinc C/O Maloney Properties Inc?
St. Mary's Apartmentsinc C/O Maloney Properties Inc, as stated in its mission, is committed to providing affordable housing facilities and services for elderly individuals. Under the regulations of the HUD sections 202 and 8, they offer rental assistance to qualified persons. The primary goal is to enhance the living conditions of the elderly, ensuring they have access to comfortable and affordable housing. The organization also provides necessary services to support the elderly, aiming to improve their quality of life.
Who is the CEO of St Mary's Apartmentsinc C/O Maloney Properties Inc?
Revmichael Nolan is the Director of St Mary's Apartmentsinc C/O Maloney Properties Inc.
What is the revenue of St Mary's Apartmentsinc C/O Maloney Properties Inc?
St Mary's Apartmentsinc C/O Maloney Properties Inc's revenue in 2023 was $975,190.
Who are the executives of St Mary's Apartmentsinc C/O Maloney Properties Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for St Mary's Apartmentsinc C/O Maloney Properties Inc?
St Mary's Apartmentsinc C/O Maloney Properties Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of St Mary's Apartmentsinc C/O Maloney Properties Inc
St. Mary's Apartments Inc., under the leadership of Maloney Properties Inc., is committed to providing affordable housing for qualified individuals. Their mission is centered around elderly persons, offering them housing facilities and services that are both affordable and regulated under HUD regulations, specifically Sections 202 and 8.
This nonprofit organization aims to create a living environment that is both comfortable and within reach for elderly persons. By providing housing facilities, St. Mary's Apartments Inc. ensures that elderly individuals have a secure and suitable place to reside. Moreover, the organization goes beyond just providing a place to live by offering essential services to its residents. This holistic approach to senior care is designed to enhance the quality of life for elderly persons, providing them with the support they need to live independently and comfortably.
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Impact
July, 2024
St. Mary's Apartments Inc, managed by Maloney Properties Inc, provides affordable housing to elderly persons in Wellesley, MA. By offering housing facilities and services, this organization plays a crucial role in supporting elderly individuals with their housing needs. Through rental assistance programs under HUD regulations, St. Mary's Apartments Inc helps qualified individuals access safe and affordable housing options. This impact contributes to improving the overall well-being and quality of life for the elderly population in the community.
This information is meant to be a general summary of St Mary's Apartmentsinc C/O 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,030
- Program Service Revenue: $966,517
- Gross Receipts: $975,190
Assets and Liabilities:
- Total Assets: $4,662,703
- Total Liabilities: $8,692,493
- Net Assets: -$4,029,790
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$966,517
Organization Details
Founding Year
1998
Phone
(781) 943-0200Principal Officer
Revmichael Nolan
Main Address
27 MICA LANE, WELLESLEY, MA, 024811707
NTEE Category
Code: L210 - Housing
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