Overview
What is Elder Care Two Inc?
Elder Care Two Inc is a nonprofit organization situated in Bristol, Rhode Island, specifically at 150 Franklin Street. Their primary focus is on providing low-income housing for eligible elderly residents, as per Section 202 of the National Housing Act. This act aims to ensure housing for individuals with low and moderate incomes. The organization's mission, in simple terms, is to offer a secure living environment for the elderly, promoting their well-being and independence.
Official website here: www.none
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star Rating
Elder Care Two Inc has received a commendable score of 88%, achieving a Three-Star rating from Charity Navigator, which indicates strong accountability and financial management. This rating is based entirely on the organization’s performance in the Accountability & Finance category, focusing on transparency and governance practices.
The organization excels in several areas, with notable strengths including a fully independent board of directors and a strong financial oversight committee. It has demonstrated a commitment to ethical practices, as evidenced by its policies on conflicts of interest and its proactive measures in documenting board meeting minutes. The program expense ratio stands at an impressive 100%, reflecting a focus on its mission-driven initiatives.
However, there are some areas for improvement. The organization lacks a whistleblower policy and a document retention and destruction policy, which are essential components of comprehensive governance. Addressing these gaps could enhance their accountability and further strengthen stakeholder confidence. Overall, Elder Care Two Inc shows a solid foundation in financial accountability while holding potential for growth in governance practices.
This AI summary has been generated from information found on Charity Navigator.
Is Elder Care Two Inc legitimate?
Elder Care Two Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Elder Care Two 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.
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Official website here: www.none
What is the mission statement of Elder Care Two Inc?
Elder Care Two Inc, as per its mission statement, is dedicated to providing housing solutions for low and moderate-income elderly individuals. This commitment is in line with Section 202 of the National Housing Act. The organization operates 49 units of such housing, catering to eligible elderly residents under this act. By doing so, Elder Care Two Inc contributes to ensuring that the elderly, who may have limited financial resources, have access to decent and affordable housing.
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Who is the CEO of Elder Care Two Inc?
Diane Mederos is the Director of Elder Care Two Inc.
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What is the revenue of Elder Care Two Inc?
Elder Care Two Inc's revenue in 2023 was $658,986.
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Who are the executives of Elder Care Two Inc and what are their salaries?
There 10 volunteers at Elder Care Two Inc.
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Official website here: www.none
Learn more at the official website: www.none
Mission Statement of Elder Care Two Inc
Elder Care Two Inc, a nonprofit organization, is dedicated to providing housing solutions for low and moderate-income elderly individuals. In line with Section 202 of the National Housing Act, Elder Care Two Inc offers 49 units of residential accommodation specifically designed for elderly residents who meet the qualification criteria under this act. The mission of Elder Care Two Inc is to create a living environment that caters to the unique needs of this age group, ensuring they maintain their independence and dignity while residing in a secure and supportive community.
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Impact
July, 2024
Elder Care Two Inc provides essential low-income housing for qualifying elderly residents in Bristol, RI. With 49 units available, they offer a vital service to the elderly community in need of affordable housing options. Their focus on serving low and moderate-income elderly individuals aligns with their mission to provide secure and comfortable living arrangements under Section 202 of the National Housing Act. By offering these housing options, Elder Care Two Inc positively impacts the lives of elderly residents by providing a safe and supportive environment where they can live with dignity and security.
This information is meant to be a general summary of Elder Care Two 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: $5,362
- Program Service Revenue: $644,967
- Gross Receipts: $658,986
Assets and Liabilities:
- Total Assets: $2,487,720
- Total Liabilities: $117,188
- Net Assets: $2,370,532
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL SUBSIDIES
Revenue
$373,688
TENANT RENTS
Revenue
$271,279
Organization Details
Founding Year
1995
Phone
(401) 253-2080Principal Officer
Diane Mederos
Main Address
150 FRANKLIN STREET, BRISTOL, RI, 02809
Website
www.noneNTEE Category
Code: L22 - Housing
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