Overview
What is Omni Governor Inc?
Omni Governor Inc is a nonprofit organization situated in Providence, Rhode Island, with a primary focus on providing affordable housing for eligible elderly individuals. Their mission is centered around enhancing the living conditions of this demographic, investing a significant portion of their resources into the construction and maintenance of suitable residences. As per the provided information, the program's expenses for elderly housing amounted to $603,143, while management and general expenses totaled $138,300. The organization's income is primarily derived from non-housing assistance payments and resident contributions, amounting to $263,258. With a dedicated workforce of six employees, Omni Governor Inc continues its commitment to supporting the elderly community in Rhode Island.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star Rating
Omni Governor Inc has received a score of 77%, which translates to a Three-Star rating on Charity Navigator. This rating indicates a solid level of accountability and financial health. The score is based solely on the Accountability & Finance category, suggesting that the organization has met many of the key standards for transparency and responsible financial practices.
The nonprofit demonstrates strong governance, with 100% of its board members being independent, and it has established various policies that promote ethical conduct and oversight. The organization excels in program expenses, with 81.81% of its expenditures directed towards its programs, indicating a commitment to fulfilling its mission effectively. Furthermore, it has a robust structure in place for financial oversight, as evidenced by its high scores in audit and governance practices.
However, the organization has a notable limitation reflected in its liabilities to assets ratio of 173.29%, which received a score of 0 out of 15 points. This indicates a potential concern regarding financial leverage that may impact its long-term sustainability. Overall, while Omni Governor Inc shows strong accountability practices, stakeholders should consider its financial ratios when assessing its overall stability.
This AI summary has been generated from information found on Charity Navigator.
Is Omni Governor Inc legitimate?
Omni Governor Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Omni Governor 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: $131,529
For more financial information, click here
What is the mission statement of Omni Governor Inc?
Omni Governor Inc, as an organization, is dedicated to providing low-income housing for eligible elderly individuals. Their primary mission is to offer suitable living spaces for this specific demographic. The majority of their activities and resources are channeled towards this goal. The largest and only program under this initiative, which accounts for a significant portion of their expenses, is the provision of low-income housing for eligible elderly persons. The total expenses related to this program amounted to $603,143, while management and general expenses were $138,300. The income generated for the organization comes from non-housing assistance payments and payments from the residents, totalling $263,258.
Who is the CEO of Omni Governor Inc?
Sharon Morris is the Director of Omni Governor Inc.
What is the revenue of Omni Governor Inc?
Omni Governor Inc's revenue in 2022 was $628,340.
Who are the executives of Omni Governor Inc and what are their salaries?
The average compensation at Omni Governor Inc during 2022 was $21,922. There are 6 employees at Omni Governor Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $133,557
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Omni Governor Inc?
Omni Governor Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Omni Governor Inc
Omni Governor Inc, a notable entity, is dedicated to providing low-income housing for eligible elderly persons. The organization's primary mission is to offer a safe and comfortable living space for this demographic, seeking to alleviate housing challenges they may face. The scope of their activity encompasses a single program, which focuses on offering affordable housing solutions to this specific group of individuals. The financial investments made towards this program amount to $603,143, while the general management and operational expenses amount to $138,300. The income generated by the organization, not directly related to housing assistance payments or payments from the residents, reaches $263,258. Through its commitment to low-income housing, Omni Governor Inc strives to enhance the quality of life for elderly persons in need.
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Impact
July, 2024
Omni Governor Inc's impact is centered around providing low-income housing for eligible elderly people in Providence, RI. The organization's primary focus is on offering affordable housing options to support this vulnerable population. In doing so, Omni Governor Inc directly addresses the critical need for safe and accessible housing for elderly individuals with limited financial resources. Through their housing program, they are able to make a significant difference in the lives of elderly individuals by ensuring they have a place to call home.
This information is meant to be a general summary of Omni Governor 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: $1,410
- Program Service Revenue: $259,051
- Gross Receipts: $628,340
Assets and Liabilities:
- Total Assets: $2,830,062
- Total Liabilities: $4,715,208
- Net Assets: -$1,885,146
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$274,551
MOVE IN
Revenue
-$41
VACANCIES
Revenue
-$15,459
Organization Details
Founding Year
1995
Phone
(401) 461-4442Principal Officer
Sharon Morris
Main Address
810 EDDY STREET, PROVIDENCE, RI, 02905
NTEE Category
Code: L22 - Housing
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