Overview
What is Welles Country Village Ltd?
Welles Country Village Ltd is a dedicated nonprofit organization that provides low-income housing opportunities for the elderly. Located with 100 units, the organization ensures that its tenants pay no more than 30% of their income towards rent. It carries out its mission under the National Housing Act, specifically section 202, demonstrating a commitment to supporting the elderly community with affordable housing solutions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Star Rating)
Welles Country Village Ltd has received an 86% score on Charity Navigator, reflecting a solid performance primarily in Accountability & Finance. The score indicates that the organization adheres well to financial transparency and governance standards, with a fully independent board and no material diversion of assets. Additionally, the program expense ratio is impressive, showing that all of its expenses are allocated to its programs.
Despite these strengths, the organization does have areas for improvement. Notably, it lacks a whistleblower policy and a document retention and destruction policy, which are essential for ensuring ethical practices and the proper handling of records. These missing elements could raise concerns regarding their internal governance and risk management.
Overall, Welles Country Village Ltd demonstrates a strong commitment to accountability, but enhancing its policies would further strengthen its operational integrity and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Welles Country Village Ltd legitimate?
Welles Country Village Ltd is a legitimate nonprofit organization registered as a 501(c)(3) entity. Welles Country Village Ltd 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: $364,290
For more financial information, click here
What is the mission statement of Welles Country Village Ltd?
Welles Country Village Ltd dedicates its mission to providing affordable housing for the elderly, specifically with 100 units available. The elderly residents pay no more than 30% of their income for rent, ensuring affordability. The organization accomplishes this mission by adhering to section 202 of the National Housing Act. In essence, Welles Country Village Ltd aims to offer a living solution for elderly individuals with limited financial resources, thereby promoting their independence and well-being.
Who is the CEO of Welles Country Village Ltd?
Lorraine Hurd is the President of Welles Country Village Ltd.
What is the revenue of Welles Country Village Ltd?
Welles Country Village Ltd's revenue in 2023 was $2,608,469.
Who are the executives of Welles Country Village Ltd and what are their salaries?
The average compensation at Welles Country Village Ltd during 2023 was $45,536. There are 8 employees at Welles Country Village Ltd.
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Where can I find the form 990 for Welles Country Village Ltd?
Welles Country Village Ltd's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Welles Country Village Ltd
Welles Country Village Ltd is a nonprofit organization committed to providing affordable housing solutions for the elderly. Their mission is to offer 100 units of low-income housing to individuals who pay no more than 30% of their income towards rent. This mission is achieved through their operation under Section 202 of the National Housing Act. By doing so, Welles Country Village Ltd contributes to the well-being of elderly individuals by providing them with a secure and affordable living environment.
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Impact
July, 2024
Welles Country Village Ltd's impact is significant in providing affordable housing options for low-income elderly individuals in VERNON ROCKVILLE, CT. With 100 units available, tenants are able to pay no more than 30% of their income towards rent, allowing them to maintain financial stability while accessing safe and comfortable living arrangements. By operating under section 202 of the National Housing Act, Welles Country Village Ltd effectively fulfills its mission of supporting the elderly population in need of affordable housing, thereby contributing to the well-being and quality of life of its residents.
This information is meant to be a general summary of Welles Country Village Ltd. 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: $719
- Program Service Revenue: $668,679
- Gross Receipts: $2,608,469
Assets and Liabilities:
- Total Assets: $4,991,648
- Total Liabilities: $2,273,221
- Net Assets: $2,718,427
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Tenant Rental Charges
Revenue
$402,487
Tenant Charges
Revenue
$21,422
Assisted Living
Revenue
$244,770
Organization Details
Founding Year
1979
Principal Officer
Lorraine Hurd
Main Address
46 Welles Rd, Vernon Rockville, CT, 06066
NTEE Category
Code: L22Z - Housing
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