Overview
What is Milton Residences For The Elderly Inc?
Milton Residences for the Elderly Inc. is a nonprofit organization located at 600 Canton Avenue, Milton, Massachusetts 02186. Their primary mission is to cater to the needs of senior citizens, extending beyond the Milton community. They achieve this by providing affordable housing and essential services, ensuring sensitivity and care to preserve the seniors' dignity and well-being. To fulfill its objectives, the organization manages two properties with 300 units. With a workforce of 31 employees, Milton Residences for the Elderly Inc. strives to make a meaningful impact in the lives of the elderly, fostering a sense of community and security.
Official website here: www.mreinc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 69%, earning a Two-Star out of Four Star rating
Milton Residences For The Elderly Inc holds a Two-Star rating from Charity Navigator, indicating room for improvement in accountability and financial practices. The organization benefits from a fully independent board and demonstrates strong oversight with no reported material diversion of assets. Program expenses are well-managed, accounting for 76.55% of expenditures, suggesting a focus on direct service delivery.
However, significant concerns arise in the areas of governance policies. The absence of a conflict of interest policy, whistleblower policy, and document retention protocols raises questions about transparency and accountability. Furthermore, the organization has not posted its tax forms on its website, limiting public access to important financial information.
Financially, the organization shows a high liabilities to assets ratio of 84.90%, which may signal potential financial instability. While the leadership structure includes compensation for the Executive Director, the lack of salaries for other board members could reflect either a commitment to fiscal conservatism or a potential issue with attracting qualified individuals. Overall, while Milton Residences shows commitment in some areas, improvements in governance and financial management are necessary for a stronger rating.
This AI summary has been generated from information found on Charity Navigator.
Is Milton Residences For The Elderly Inc legitimate?
Milton Residences For The Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Milton Residences For The 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: $233,246
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,108,345
For more financial information, click here
Official website here: www.mreinc.org
What is the mission statement of Milton Residences For The Elderly Inc?
The mission of Milton Residences For The Elderly Inc is centered around addressing the needs of seniors, not just in their local area, but beyond as well. They strive to achieve this by providing affordable housing and necessary services, ensuring the well-being and preservation of the seniors' dignity. This is carried out with sensitivity and care, reflecting their commitment to the senior population. The organization manages two properties, housing a total of 300 units, to cater to the elderly community.
Official website here: www.mreinc.org
Who is the CEO of Milton Residences For The Elderly Inc?
W Paul Needham is the President of Milton Residences For The Elderly Inc.
Official website here: www.mreinc.org
What is the revenue of Milton Residences For The Elderly Inc?
Milton Residences For The Elderly Inc's revenue in 2022 was $1,807,946.
Official website here: www.mreinc.org
Who are the executives of Milton Residences For The Elderly Inc and what are their salaries?
The average compensation at Milton Residences For The Elderly Inc during 2022 was $43,277. There are 31 employees at Milton Residences For The Elderly Inc.
Here are 11 key members and their salaries:
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- Compensation: $225,000
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- Other: $24,951
Official website here: www.mreinc.org
Where can I find the form 990 for Milton Residences For The Elderly Inc?
Milton Residences For The Elderly Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mreinc.org
Learn more at the official website: www.mreinc.org
Mission Statement of Milton Residences For The Elderly Inc
Milton Residences for the Elderly Inc, a nonprofit organization, is dedicated to addressing the needs of seniors beyond its locality. With sensitivity and care, its mission is to ensure the well-being and preserve the dignity of the elderly population. The organization achieves this by providing affordable housing and necessary services. Milton Residences for the Elderly Inc takes responsibility for managing and staffing two properties, comprising 300 units, to cater to the elderly community's needs. By doing so, the organization plays a crucial role in enhancing the quality of life for seniors, ensuring they can age with dignity and live in a supportive environment.
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Impact
July, 2024
Milton Residences For The Elderly Inc's impact is substantial in addressing the needs of seniors in Milton and beyond by providing essential housing and services. With a mission to ensure the well-being and preserve the dignity of seniors, this organization manages and staffs two properties comprising 300 units, offering affordable housing options for the elderly population. Through their dedication to providing sensitive and caring support, Milton Residences For The Elderly Inc plays a vital role in enhancing the quality of life for seniors in the community.
This information is meant to be a general summary of Milton Residences For The 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: $165,637
- Program Service Revenue: $1,642,309
- Gross Receipts: $2,042,476
Assets and Liabilities:
- Total Assets: $16,749,751
- Total Liabilities: $14,220,753
- Net Assets: $2,528,998
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MAINTENANCE & SECURITY
Revenue
$827,924
ASSISTED LIVING & MANA
Revenue
$370,719
MANAGEMENT FEES
Revenue
$356,162
SUPPORT SERVICE FEES
Revenue
$86,964
TRANSPORT & MISC
Revenue
$540
Organization Details
Founding Year
1968
Phone
(617) 698-3005Principal Officer
W Paul Needham
Main Address
600 CANTON AVENUE, MILTON, MA, 02186
Website
www.mreinc.orgNTEE Category
Code: P75Z - Human services
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