Overview
What is Jenks Mill Housing Corporation?
Jenks Mill Housing Corporation is a nonprofit organization based in Cumberland, Rhode Island, specifically located at 1029 Mendon Road. Their primary mission is to provide affordable housing for the elderly and disabled, adhering to Section 202 of the National Housing Act. They accomplish this by owning and managing a 62-unit apartment complex named Jenks Mill in Cumberland. Regulated by HUD, they ensure reasonable rental charges and operate in accordance with established methods, committed to enhancing living conditions for their targeted population.
Official website here: www.valleyaffordable.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
Jenks Mill Housing Corporation has received a commendable Three-Star rating from Charity Navigator, reflecting a strong performance in accountability and finance. The organization boasts a perfect score for having a fully independent board, a robust audit and oversight committee, and comprehensive policies regarding conflict of interest, whistleblowing, and document retention. With a program expense ratio of 88.14%, it indicates that a significant portion of its funds is directed towards its mission-driven programs.
However, while the organization excels in many areas, it has received a low score for its liabilities to assets ratio, indicating potential financial concerns that could impact its stability. This suggests that while the organization is effectively managing its programs, it may need to address its overall financial health to ensure long-term sustainability.
Overall, Jenks Mill Housing Corporation demonstrates a commitment to transparency and effective financial management, but stakeholders should be mindful of its liability issues as they consider support for the organization's initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Jenks Mill Housing Corporation legitimate?
Jenks Mill Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Jenks Mill 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $98,687
For more financial information, click here
Official website here: www.valleyaffordable.org
What is the mission statement of Jenks Mill Housing Corporation?
Jenks Mill Housing Corporation's mission is centered around providing affordable housing. Specifically, they aim to cater to the elderly and disabled population, offering them a place to reside. They accomplish this by owning and managing a 62-unit apartment complex, adhering to the regulations set by the U.S. Department of Housing and Urban Development (HUD) regarding rental charges and operating methods. The corporation, located in an unspecified area, operates Jenks Mill, a well-known 62-unit apartment complex, under Section 202 of the National Housing Act.
Official website here: www.valleyaffordable.org
Who is the CEO of Jenks Mill Housing Corporation?
Paul Gagne is the Principal Officer of Jenks Mill Housing Corporation.
Official website here: www.valleyaffordable.org
What is the revenue of Jenks Mill Housing Corporation?
Jenks Mill Housing Corporation's revenue in 2023 was $541,631.
Official website here: www.valleyaffordable.org
Who are the executives of Jenks Mill Housing Corporation and what are their salaries?
Here are 8 key members and their salaries:
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Official website here: www.valleyaffordable.org
Where can I find the form 990 for Jenks Mill Housing Corporation?
Jenks Mill Housing Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.valleyaffordable.org
Learn more at the official website: www.valleyaffordable.org
Mission Statement of Jenks Mill Housing Corporation
Jenks Mill Housing Corporation is a dedicated organization that aims to provide affordable housing for the elderly and disabled. Situated in an unspecified location, the corporation operates under Section 202 of the National Housing Act. Regulated by HUD, they establish rental charges and operating methods to ensure the provision of low-income housing. The cornerstone of their mission is a 62-unit apartment complex, known as Jenks Mill, located in Cumberland, RI. This housing complex serves as a sanctuary for the elderly residents in the Providence, RI area, providing them with essential amenities and a secure living environment.
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Impact
July, 2024
Jenks Mill Housing Corporation's impact lies in its provision of affordable housing for the elderly and disabled in Cumberland, Rhode Island. By owning and operating a 62-unit apartment complex, Jenks Mill offers low-income housing to elderly individuals in the Providence area under Section 202 of the National Housing Act. Regulated by HUD in terms of rental charges and operating methods, Jenks Mill plays a crucial role in addressing the housing needs of vulnerable populations, ensuring they have a safe and comfortable place to call home.
This information is meant to be a general summary of Jenks Mill 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 2023.
- Investment Income: $150
- Program Service Revenue: $288,251
- Gross Receipts: $541,631
Assets and Liabilities:
- Total Assets: $2,603,770
- Total Liabilities: $5,060,057
- Net Assets: -$2,456,287
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$284,010
LAUNDRY REVENUE
Revenue
$4,004
TENANT CHARGES
Revenue
$237
Organization Details
Founding Year
1997
Phone
(401) 334-2802Principal Officer
Paul Gagne
Main Address
1029 MENDON ROAD, CUMBERLAND, RI, 02864
Website
www.valleyaffordable.orgNTEE Category
Code: L22 - Housing
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