Overview
What is Chestnut Grove Associates Inc?
Chestnut Grove Associates Inc, situated in New Milford, Connecticut, is a nonprofit organization that primarily focuses on providing housing and congregate services to the elderly. Their offerings extend beyond just a place to reside, with additional services such as food, social events, and housekeeping. The organization's mission is to support low-income elderly individuals, ensuring they have access to essential living amenities and a sense of community. The 40 units they manage are designed to cater specifically to this demographic, aiming to enhance their quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
Chestnut Grove Associates Inc has received a respectable three-star rating from Charity Navigator, reflecting an overall score of 81%. This rating is entirely derived from their performance in Accountability & Finance, indicating a strong commitment to transparency and responsible financial management. The organization boasts a fully independent board with 100% of its members being independent, underscoring its governance strength.
The charity has excelled in several areas, including its program expense ratio, which stands at an impressive 100%. This suggests that all funds are being directed entirely towards its programs, reinforcing its mission-driven approach. Furthermore, it has established comprehensive policies regarding conflicts of interest, whistleblowing, and document retention, which further illustrates its commitment to ethical practices.
However, the organization does face a challenge with its liabilities to assets ratio, which is recorded at 67.04%. This raises some concerns about its financial stability in relation to its asset management. Despite this limitation, the charity's strengths in governance and program expenditure demonstrate a solid foundation for their operations and mission.
This AI summary has been generated from information found on Charity Navigator.
Is Chestnut Grove Associates Inc legitimate?
Chestnut Grove Associates Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chestnut Grove Associates 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: $0
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What is the mission statement of Chestnut Grove Associates Inc?
Chestnut Grove Associates Inc is committed to providing housing and congregate services to a specific group of individuals. More specifically, their mission is to cater to the needs of low-income elderly people. This organization offers various services, including food, social, and housekeeping assistance, within their 40-unit congregate housing facilities. Their primary goal is to enhance the living conditions and overall well-being of their elderly residents.
What is the revenue of Chestnut Grove Associates Inc?
Chestnut Grove Associates Inc's revenue in 2023 was $738,971.
Who are the executives of Chestnut Grove Associates Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Chestnut Grove Associates Inc?
Chestnut Grove Associates Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Chestnut Grove Associates Inc
Chestnut Grove Associates Inc is an organization dedicated to providing housing and congregate services to the elderly, specifically focusing on individuals with low income. Their mission is to create an environment where the elderly can live comfortably and securely. They offer a range of services to their tenants, including food, social activities, and housekeeping assistance. This congregate housing model allows elderly individuals to maintain their independence while benefiting from communal support. With 40 units available, Chestnut Grove Associates Inc is committed to improving the quality of life for their elderly residents, ensuring they have access to essential services that promote their overall well-being.
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Impact
July, 2024
Chestnut Grove Associates Inc provides essential housing and congregate services to low-income elderly individuals in New Milford, Connecticut. Through their 40 units, they offer not just a place to live, but also crucial amenities such as food, social opportunities, and housekeeping services. By focusing on the needs of this vulnerable demographic, Chestnut Grove Associates Inc plays a vital role in enhancing the quality of life for the elderly in their community.
This information is meant to be a general summary of Chestnut Grove Associates 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 2023.
- Investment Income: $1,877
- Program Service Revenue: $737,094
- Gross Receipts: $738,971
Assets and Liabilities:
- Total Assets: $922,219
- Total Liabilities: $618,310
- Net Assets: $303,909
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME AND FEES
Revenue
$737,094
Organization Details
Founding Year
1990
Principal Officer
Frank Wargo
NTEE Category
Code: Z99Z - Unknown
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