Overview
What is Saugatucket Springs Inc?
Saugatucket Springs Inc is a nonprofit organization based in Providence, Rhode Island, specifically at 861A Broad Street, 02907. Their primary mission is to provide affordable housing to the elderly and disabled within the Hopkinton, Rhode Island area, in compliance with Section 202 of the National Affordable Housing Act. To achieve this, they own and manage a 53-unit apartment complex, offering a supportive and affordable living environment for the targeted population.
Official website here: www.wdchoc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Stars)
Saugatucket Springs Inc has received a Three-Star rating from Charity Navigator, reflecting an overall score of 82%. This rating is based entirely on the organization’s Accountability & Finance metrics, which are crucial for assessing its financial health and governance practices. A high score indicates that the organization demonstrates strong accountability measures, which is a positive sign for potential donors.
The organization excels in several areas, including having a fully independent board and a high program expense ratio of nearly 89%. This suggests that Saugatucket Springs Inc directs a significant portion of its resources toward its programs, enhancing its mission effectiveness. Additionally, the presence of established policies regarding conflicts of interest, whistleblower protections, and document retention indicates a commitment to transparency and ethical governance.
However, the charity does face some challenges, particularly highlighted by its liabilities to assets ratio of 152.31%, which may raise concerns about its financial sustainability. While the organization demonstrates strong accountability practices, the high level of liabilities compared to its assets could signal potential financial risks that donors should consider. Overall, while Saugatucket Springs Inc shows promise in governance and program spending, stakeholders should remain aware of its financial structure.
This AI summary has been generated from information found on Charity Navigator.
Is Saugatucket Springs Inc legitimate?
Saugatucket Springs Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Saugatucket Springs 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: $129,101
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Official website here: www.wdchoc.org
What is the mission statement of Saugatucket Springs Inc?
Saugatucket Springs Inc, as a non-profit organization, is committed to providing affordable housing for senior citizens and individuals with disabilities, in line with Section 202 of the National Affordable Housing Act. Their mission is to ensure low-income housing is readily available in the relevant community, aiming to improve the quality of life for these vulnerable groups. The organization operates and manages a 53-unit apartment complex to fulfill this mission, providing a safe and suitable living environment.
Official website here: www.wdchoc.org
Who is the CEO of Saugatucket Springs Inc?
Frank Shea is the Chair of Saugatucket Springs Inc.
Official website here: www.wdchoc.org
What is the revenue of Saugatucket Springs Inc?
Saugatucket Springs Inc's revenue in 2021 was $457,043.
Official website here: www.wdchoc.org
Who are the executives of Saugatucket Springs Inc and what are their salaries?
Here are 8 key members and their salaries:
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Official website here: www.wdchoc.org
Where can I find the form 990 for Saugatucket Springs Inc?
Saugatucket Springs Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.wdchoc.org
Learn more at the official website: www.wdchoc.org
Mission Statement of Saugatucket Springs Inc
Saugatucket Springs Inc, a nonprofit organization, is committed to providing affordable housing for senior citizens and individuals with disabilities. Operating under Section 202 of the National Affordable Housing Act, this organization's mission is to ensure that low-income elderly and disabled individuals in their community have access to suitable housing. Saugatucket Springs Inc goes beyond just providing housing, as they own and manage a 53-unit apartment complex, ensuring a comfortable living environment for those in need. The organization's mission is a crucial step towards promoting a sense of independence and dignity for its residents, enabling them to live fulfilling lives.
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Impact
July, 2024
Saugatucket Springs Inc's impact lies in providing essential affordable housing services to senior citizens and the disabled in Hopkinton, Rhode Island. Through owning and operating a 53-unit apartment complex, the organization plays a crucial role in supporting vulnerable populations in accessing safe and affordable living arrangements. By fulfilling its mission under Section 202 of the National Affordable Housing Act, Saugatucket Springs Inc contributes significantly to the well-being and quality of life of elderly and disabled individuals in the Hopkinton area.
This information is meant to be a general summary of Saugatucket Springs 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 2021.
- Investment Income: $241
- Program Service Revenue: $238,393
- Gross Receipts: $457,043
Assets and Liabilities:
- Total Assets: $5,034,094
- Total Liabilities: $7,102,355
- Net Assets: -$2,068,261
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$234,049
LAUNDRY REVENUE
Revenue
$4,271
TENANT CHARGES
Revenue
$73
Organization Details
Founding Year
2002
Phone
(401) 941-5900Principal Officer
Frank Shea
Main Address
861A BROAD STREET, PROVIDENCE, RI, 02907
Website
www.wdchoc.orgNTEE Category
Code: L22 - Housing
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