Overview
What is St John's Housing Corporation?
St. John's Housing Corporation is a nonprofit organization that specializes in providing affordable housing for low-income elderly individuals. Located with a total of 108 units, this corporation operates under the support of Rural Development, who subsidize the rents through mortgage subsidy credit and rental assistance subsidies. The corporation's primary mission revolves around managing these housing units and ensuring that they remain accessible and affordable for their intended residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
St John's Housing Corporation has received a two-star rating from Charity Navigator, indicating that while the organization performs well in certain areas, it has significant room for improvement. The charity's program expense ratio is strong at 80.5%, reflecting a focus on its mission-related activities. Additionally, it has achieved high scores for board independence and financial oversight, suggesting a commitment to accountability in governance.
However, the organization faces critical limitations in its accountability practices, with several key policies and documents missing, including a conflict of interest policy and a whistleblower policy. This lack of essential governance documents raises concerns about transparency and ethical practices. Furthermore, the charity's liabilities to assets ratio is notably high, indicating potential financial risks that could impact its sustainability.
Overall, while St John's Housing Corporation demonstrates strengths in program spending and board independence, the gaps in governance and financial management practices suggest a need for significant improvements to enhance its overall effectiveness and trustworthiness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is St John's Housing Corporation legitimate?
St John's Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. St John's Housing 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:
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What is the mission statement of St John's Housing Corporation?
St. John's Housing Corporation is dedicated to providing affordable housing solutions for the elderly with limited income. They accomplish this by owning and managing 108 units of elderly housing. The rent for these units is subsidized through financial assistance from Rural Development, specifically through a mortgage subsidy credit and rental assistance subsidy. The corporation's primary objective is to ensure these housing units are accessible to those in need, thereby contributing to their well-being and quality of life.
Who is the CEO of St John's Housing Corporation?
Daniel Kelly is the Director of St John's Housing Corporation.
What is the revenue of St John's Housing Corporation?
St John's Housing Corporation's revenue in 2022 was $734,251.
Who are the executives of St John's Housing Corporation and what are their salaries?
There 9 volunteers at St John's Housing Corporation.
Here are 9 key members and their salaries:
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Where can I find the form 990 for St John's Housing Corporation?
St John's Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of St John's Housing Corporation
St. John's Housing Corporation is committed to providing affordable housing for the elderly with low incomes. Their mission is achieved through the ownership and operation of 108 units of housing, which are subsidized by Rural Development. This subsidy is provided through a mortgage subsidy credit and a rental assistance subsidy. By doing so, St. John's Housing Corporation ensures that rents remain affordable for the elderly residents living in these units. The corporation's activities primarily revolve around the management and rental of these subsidized housing units, providing a vital service to the elderly population in need.
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Impact
July, 2024
St John's Housing Corporation provides essential housing support for low-income elderly individuals in Rocky Hill, CT. With 108 units of affordable housing, the organization ensures that this vulnerable population has access to safe and subsidized accommodation. By partnering with Rural Development for mortgage subsidy credits and rental assistance subsidies, St John's Housing Corporation plays a vital role in addressing housing insecurity among the elderly. This impact extends beyond just providing a place to live; it fosters a sense of stability and community for those who may otherwise struggle to find affordable housing options.
This information is meant to be a general summary of St John's Housing 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 2022.
- Investment Income: $23
- Program Service Revenue: $681,454
- Gross Receipts: $734,251
Assets and Liabilities:
- Total Assets: $1,057,989
- Total Liabilities: $945,274
- Net Assets: $112,715
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET RENTAL INCOME
Revenue
$673,412
LAUNDRY AND OTHER INCOME
Revenue
$8,042
Organization Details
Founding Year
1976
Phone
(860) 398-5425Principal Officer
Daniel Kelly
Main Address
2080 SILAS DEANE HIGHWAY, ROCKY HILL, CT, 06067
NTEE Category
Code: L22 - Housing
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