Overview
What is Washington Square Services Corporation?
Washington Square Services Corporation is a nonprofit organization situated in Newport, Rhode Island, specifically at 50 Washington Square, 02840. Their primary mission is to provide employment, training, and housing opportunities for individuals of low income. They operate a thrift shop, where they employ seven residents from low-income housing. This not-for-profit entity is dedicated to uplifting the lives of these individuals, offering them a chance at employment and potential growth. The organization's workforce includes a total of 30 employees.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 86%, Three-Star out of Four Star rating.
Washington Square Services Corporation has received a solid Three-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. The organization demonstrates transparency with 100% independent board members and maintains well-structured financial statements, ensuring trust and reliability in its operations.
One of its notable strengths is the impressive program expense ratio of 98.12%, which shows that a significant portion of its funds is directed towards its programs rather than administrative costs. Additionally, the organization has a very low liabilities to assets ratio of 4.55%, suggesting strong financial health and minimal debt.
Overall, while the organization has proven its effectiveness and sound financial management, continued efforts to maintain transparency and accountability will be crucial as it grows. The evaluation presents a favorable view of Washington Square Services Corporation, highlighting its commitment to fulfilling its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Washington Square Services Corporation legitimate?
Washington Square Services Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Washington Square Services Corporation 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: $438,156
For more financial information, click here
What is the mission statement of Washington Square Services Corporation?
The Washington Square Services Corporation's mission involves providing opportunities for individuals with low income. Specifically, it aims to offer employment, training, and housing solutions to this demographic. This organization demonstrates its mission by operating a thrift shop that provides employment for seven low-income residents. By providing these resources, the corporation seeks to enhance the livelihoods of those in need.
Who is the CEO of Washington Square Services Corporation?
Jamie Lehane Iii is the Treasurer of Washington Square Services Corporation.
What is the revenue of Washington Square Services Corporation?
Washington Square Services Corporation's revenue in 2023 was $758,377.
Who are the executives of Washington Square Services Corporation and what are their salaries?
The average compensation at Washington Square Services Corporation during 2023 was $14,605. There are 30 employees and 6 volunteers at Washington Square Services Corporation.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Washington Square Services Corporation?
Washington Square Services Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Washington Square Services Corporation
Washington Square Services Corporation, a nonprofit organization, is dedicated to offering employment, training, and housing opportunities for individuals from low-income backgrounds. The corporation's primary mission is to create a supportive environment where these individuals can improve their living conditions and build a better future for themselves. One of the ways they achieve this is through the operation of a thrift shop, which provides employment opportunities for low-income residents. The thrift shop, operated by the corporation, currently employs seven such individuals, providing them with a source of income and a chance to gain work experience. By offering employment, training, and housing opportunities, Washington Square Services Corporation strives to empower low-income residents, helping them to overcome challenges and build a more stable and secure life.
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Impact
July, 2024
Washington Square Services Corporation's impact lies in its direct provision of employment, training, and housing opportunities for low-income residents in Newport, Rhode Island. Through the operation of a thrift shop that employs local residents living in low-income housing, the organization has successfully provided jobs for 7 individuals facing economic challenges. By offering these employment opportunities, Washington Square Services Corporation is fulfilling its mission to support and empower individuals in need, ultimately enhancing the economic and social well-being of the community.
This information is meant to be a general summary of Washington Square Services Corporation. 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.
- Program Service Revenue: $395,573
- Gross Receipts: $758,377
Assets and Liabilities:
- Total Assets: $430,502
- Total Liabilities: $19,590
- Net Assets: $410,912
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
THRIFT SHOP
Revenue
$332,009
CONTRACT LABOR
Revenue
$36,318
HOMELESS SHELTER RENTS
Revenue
$27,246
Organization Details
Founding Year
1991
Phone
(401) 846-5114Principal Officer
Jamie Lehane Iii
Main Address
50 WASHINGTON SQUARE, NEWPORT, RI, 02840
NTEE Category
Code: Y40 - Mutual benefit
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