Overview
What is Norwalk Congregate Homes For The Elderly Inc?
Norwalk Congregate Homes For The Elderly Inc, operating under the name Broad River Homes, is a nonprofit organization based in North Haven, Connecticut. Their primary mission is to provide affordable housing for elderly individuals with low incomes, through the operation of a 49-unit project subsidized by the U.S. Department of Housing and Urban Development (HUD). This project serves as a community for senior citizens, offering them a secure living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Norwalk Congregate Homes For The Elderly Inc has received a two-star rating from Charity Navigator, indicating that while it demonstrates strong accountability and finance practices, there are significant areas requiring attention. The organization excels in having an independent board and financial oversight, achieving a perfect score in these categories. However, issues arise regarding their policies, with missing conflict of interest, whistleblower, and document retention policies noted as critical gaps.
The organization maintains a solid program expense ratio of 89.05%, which suggests that a substantial portion of its funds is directed towards its mission-related activities, reflecting a commitment to supporting the elderly community. Yet, the liabilities to assets ratio of 67.01% indicates potential financial vulnerabilities that could affect its stability and long-term sustainability.
Overall, while the nonprofit has demonstrated strengths in governance and financial accountability, the absence of essential policies raises concerns about its operational transparency and risk management practices. Addressing these shortcomings will be vital for improving its rating and enhancing trust among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Norwalk Congregate Homes For The Elderly Inc legitimate?
Norwalk Congregate Homes For The Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Norwalk Congregate Homes For The Elderly 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: $209,131
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What is the mission statement of Norwalk Congregate Homes For The Elderly Inc?
Norwalk Congregate Homes For The Elderly Inc is committed to providing affordable housing for elderly individuals with limited income. They accomplish this by owning and operating a 49-unit HUD-subsidized housing project, ensuring that eligible senior citizens have a place to call home. Their mission does not explicitly state any goals beyond the provision of housing, but it can be inferred that they aim to enhance the living conditions and overall well-being of their residents to the best of their abilities. They might offer additional resources or services, such as social programs or community activities, to foster a sense of community and support among their residents. However, without further information, these assumptions remain speculative.
What is the revenue of Norwalk Congregate Homes For The Elderly Inc?
Norwalk Congregate Homes For The Elderly Inc's revenue in 2024 was $1,533,228.
Who are the executives of Norwalk Congregate Homes For The Elderly Inc and what are their salaries?
There 8 volunteers at Norwalk Congregate Homes For The Elderly Inc.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Norwalk Congregate Homes For The Elderly Inc?
Norwalk Congregate Homes For The Elderly Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Norwalk Congregate Homes For The Elderly Inc
Norwalk Congregate Homes for the Elderly Inc is committed to providing affordable housing for elderly individuals with low income. This nonprofit organization owns and operates a 49-unit housing project that is subsidized by the HUD. Their mission is centered around managing this project, ensuring that eligible senior citizens have access to well-maintained and subsidized living spaces. By offering these 49 units, Norwalk Congregate Homes for the Elderly Inc is contributing significantly to the well-being of the elderly population, enabling them to live with dignity and independence in a supportive environment.
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Impact
July, 2024
Norwalk Congregate Homes For The Elderly Inc's impact is providing essential affordable housing for low-income elderly individuals in North Haven, CT. By owning and operating a 49 unit HUD subsidized housing project, they offer a safe and comfortable living environment for elderly residents in need. This organization's work directly contributes to addressing the housing challenges faced by the elderly population, ensuring they have access to suitable housing options that meet their financial constraints.
This information is meant to be a general summary of Norwalk Congregate Homes For The Elderly 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 2024.
- Investment Income: $14,274
- Program Service Revenue: $1,415,909
- Gross Receipts: $1,533,228
Assets and Liabilities:
- Total Assets: $2,446,405
- Total Liabilities: $1,741,656
- Net Assets: $704,749
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$1,281,218
MEALS & HOUSEKEEPING CHARGES
Revenue
$134,691
Organization Details
Founding Year
1980
Principal Officer
Christopher Jarboe
NTEE Category
Code: L220 - Housing
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