Meadows Real Estate Management And Development Corporation

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 061203983 ✦ Hartford, CT ✦ Designated as a 501(c)(3)

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Overview

What is Meadows Real Estate Management And Development Corporation?

Meadows Real Estate Management and Development Corporation serves as a Community Action Agency, working towards its stated purpose as outlined in its Certification of Incorporation. The organization is dedicated to providing housing solutions for low-income families and individuals, with 10 such families residing in their facilities during 2022. Their primary activity involves managing and developing housing projects, aiming to contribute positively to their community. The specific details of their mission, as well as their operational activities beyond housing, can be found in their Schedule O.

What are the reviews and ratings of this charity?

Charity Navigator Rating: 67% (Two-Star out of Four Stars)

Meadows Real Estate Management And Development Corporation has received a rating of 67%, indicating a moderate level of accountability and finance management. This score is based entirely on a single beacon, with the Accountability & Finance score reflecting various aspects of the organization's governance and financial health.

Strengths of the organization include having a fully independent board, which is crucial for impartial decision-making. Additionally, the organization has strong financial practices, including passing audits and having no reported material diversion of assets. Policies for conflict of interest and whistleblower protection are in place, which contributes positively to its governance framework.

However, the organization faces challenges, particularly with its liabilities to assets ratio, which is notably high at 120.63%. This suggests potential financial instability, while the program expense ratio of 63.88% indicates that a significant portion of its budget is allocated towards programs, although there remains room for improvement in efficiency. Overall, while the organization demonstrates solid governance practices, its financial ratios raise some concerns.


This AI summary has been generated from information found on Charity Navigator.

Is Meadows Real Estate Management And Development Corporation legitimate?

Meadows Real Estate Management And Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Meadows Real Estate Management And Development 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:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $143,315

For more financial information, click here

What is the mission statement of Meadows Real Estate Management And Development Corporation?

Meadows Real Estate Management and Development Corporation serves as a Community Action Agency, fulfilling its purpose as outlined in its Certification of Incorporation. The corporation is dedicated to providing housing facilities for low-income families and individuals, with ten families residing in such accommodations during 2022. The organization's primary mission is to support and assist these families in need, contributing to their living circumstances by offering affordable housing solutions.

Who is the CEO of Meadows Real Estate Management And Development Corporation?

Magdalena Rodriguez is the President of Meadows Real Estate Management And Development Corporation.

What is the revenue of Meadows Real Estate Management And Development Corporation?

Meadows Real Estate Management And Development Corporation's revenue in 2022 was $559,081.

Who are the executives of Meadows Real Estate Management And Development Corporation and what are their salaries?

There 3 volunteers at Meadows Real Estate Management And Development Corporation.


Here are 7 key members and their salaries:


Magdalena Rodriguez (President)
  • Compensation: $0
  • Related: $330,926
  • Other: $36,600
Jeffrey Walsh (Chief Financial Officer)
  • Compensation: $0
  • Related: $144,864
  • Other: $6,873
Robert Benzinger (Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Walter Benjamin (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Robert Carubia (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Martin Alvarenga (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kellen Savage (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for Meadows Real Estate Management And Development Corporation?

Meadows Real Estate Management And Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of Meadows Real Estate Management And Development Corporation

Meadows Real Estate Management and Development Corporation, as a Community Action Agency, serves a mission to support low-income families and individuals. In line with its purpose stated in the Certification of Incorporation, the corporation operates housing projects, providing shelter for ten families in 2022. This organization performs an essential role in the community, dedicating its efforts towards addressing the housing needs of those who are economically disadvantaged. By operating housing projects, Meadows Real Estate Management and Development Corporation contributes to creating a more equitable living environment, ensuring that low-income families have access to safe and adequate housing.

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Impact




July, 2024

Meadows Real Estate Management And Development Corporation's impact lies in its provision of housing projects for low-income individuals and families. By operating these facilities, the corporation directly supports ten families in Hartford, CT. This initiative addresses the critical need for affordable housing, thereby making a tangible difference in the lives of those who benefit from these accommodations.




This information is meant to be a general summary of Meadows Real Estate Management And Development 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.

Revenue
$559,081 (2022)
Expenses
$552,736 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Program Service Revenue: $559,081
  • Gross Receipts: $559,081

Assets and Liabilities:

  • Total Assets: $3,194,571
  • Total Liabilities: $3,853,879
  • Net Assets: -$659,308

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

DEVELOPMENT AND MANAGEMENT FEES

Revenue

$97,592

RENTAL INCOME

Revenue

$177,679

OTHER INCOME

Revenue

$1,893

PROPERTY OPERATIONS SERVICES

Revenue

$281,917

Organization Details

Founding Year

1985

Principal Officer

Magdalena Rodriguez

Main Address

555 WINDSOR STREET, HARTFORD, CT, 06120

NTEE Category

Code: L20 - Housing

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