Overview
What is Providence Building Sanitary And Educational Association?
The Providence Building Sanitary and Educational Association is a nonprofit organization situated in Providence, Rhode Island, specifically at 207 Cranston Street. Its primary mission is to provide affordable housing for low-income families, numbering 285 units, and also offer commercial space in the same locale. The association is dedicated to promoting equality and opportunities, regardless of race, religion, color, origin, sex, age, ethnicity, sexual preference, or disability, except for elderly and handicapped housing where legitimate consideration may apply. Their objective is to enhance the living conditions and educational prospects for the working-class residents and their children in Providence, Rhode Island. The association operates under the name Wiggin Village Apartments.
What are the reviews and ratings of this charity?
Charity Navigator rates the Providence Building Sanitary and Educational Association with a score of 67%, resulting in a Two-Star out of Four Star rating. This rating reflects the organization's performance in accountability and finance, indicating a need for improvement in financial stability despite solid accountability measures.
The organization has demonstrated strengths in governance, with 100% of its board members being independent and a well-sized board of 24 members. Additionally, it excels in transparency with comprehensive financial statements and no reported material diversions of assets. The program expense ratio is strong at 85.84%, suggesting a significant portion of funds is directed towards its mission-related activities.
However, the charity struggles with its liabilities to assets ratio, which is quite low at 95.26%, indicating potential financial risks that could affect its sustainability. While the organization shows accountability and strong governance, it will need to address its financial health to enhance its overall rating and impact.
This AI summary has been generated from information found on Charity Navigator.
Is Providence Building Sanitary And Educational Association legitimate?
Providence Building Sanitary And Educational Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Providence Building Sanitary And Educational Association 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
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Other Salaries and Wages: $515,317
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What is the mission statement of Providence Building Sanitary And Educational Association?
The Providence Building Sanitary and Educational Association aims to provide decent, sanitary, and affordable housing for the working-class residents of an unspecified location. Additionally, it strives to offer better educational opportunities for their children. The association promotes all activities and opportunities without discrimination based on race, religion, color, origin, sex, age, ethnicity, sexual preference, or disability, except in the case of elderly or handicapped housing. In essence, the organization seeks to enhance the living conditions and educational prospects of its target demographic.
Who is the CEO of Providence Building Sanitary And Educational Association?
Wayne J Montague Sr is the President of Providence Building Sanitary And Educational Association.
What is the revenue of Providence Building Sanitary And Educational Association?
Providence Building Sanitary And Educational Association's revenue in 2022 was $5,487,740.
Who are the executives of Providence Building Sanitary And Educational Association and what are their salaries?
There 24 volunteers at Providence Building Sanitary And Educational Association.
Here are 24 key members and their salaries:
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Where can I find the form 990 for Providence Building Sanitary And Educational Association?
Providence Building Sanitary And Educational Association's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Providence Building Sanitary And Educational Association
The Providence Building Sanitary and Educational Association, in its mission, aims to provide decent and sanitary housing that is affordable for the working-class residents of any background in Providence. This nonprofit organization is committed to promoting education opportunities for the children of these residents, ensuring equal access regardless of race, religion, color, origin, sex, age, ethnicity, sexual preference, or disability, except in the case of elderly or handicapped housing. The association actively supports various activities and opportunities within the community, upholding its values of inclusivity and equality.
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Impact
July, 2024
Providence Building Sanitary And Educational Association has a significant impact on the laboring class residents of Providence, Rhode Island, by providing decent, sanitary, and affordable housing for low-income families. This organization's commitment to offering 285 units of affordable housing and commercial space in Providence directly addresses the housing needs of the community. Additionally, by prioritizing better educational opportunities for the children of laboring class residents, the association is investing in the future of these families and contributing to the overall well-being of the community. Its inclusive approach, which promotes activities and opportunities without discrimination, ensures that all residents have equal access to essential resources. This holistic approach to housing and education demonstrates the association's dedication to improving the lives of those it serves and making a positive impact on the broader community in Providence.
This information is meant to be a general summary of Providence Building Sanitary And Educational Association. 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: $41,379
- Program Service Revenue: $5,438,985
- Gross Receipts: $5,777,348
Assets and Liabilities:
- Total Assets: $18,774,796
- Total Liabilities: $17,885,668
- Net Assets: $889,128
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$5,438,985
Organization Details
Founding Year
1983
Phone
(401) 274-6637Principal Officer
Wayne J Montague Sr
Main Address
207 CRANSTON STREET, PROVIDENCE, RI, 02907
NTEE Category
Code: L20 - Housing
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