Overview
What is Hall Commons Inc?
Hall Commons Inc is a nonprofit organization established in Connecticut in 2001, with a mission to provide housing for low-income, eligible senior citizens. The organization's purpose was made possible through funding from the U.S. Department of Housing and Urban Development (HUD) and the State of Connecticut Department of Economic and Community Development (DECD). The organization completed a 41-unit apartment complex in Bridgeport, Connecticut, and began occupancy in February 2007. As a non-profit, Hall Commons Inc does not distribute profits to its directors, officers, or members. It operates under Section 501(c)(3) of the Internal Revenue Code, exempting it from federal income taxes.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 67%)
Hall Commons Inc has received a two-star rating from Charity Navigator, indicating that it needs improvement in certain operational areas. While the organization excels in accountability and finance, achieving a perfect score of 100%, its overall score reflects concerns primarily related to financial health, particularly the liabilities to assets ratio, which stands at 109.96%.
The organization demonstrates strong governance practices, with all board members being independent and meeting best practices for board size and financial oversight. Additionally, Hall Commons has shown responsible program spending, with a program expense ratio of 100%, indicating that all expenditures are directed towards its charitable mission.
However, the significant liabilities compared to assets raise red flags about its financial stability and sustainability. As potential donors or stakeholders consider their involvement, it is crucial to weigh the organization's strong governance and program efficiency against its financial challenges.
This AI summary has been generated from information found on Charity Navigator.
Is Hall Commons Inc legitimate?
Hall Commons Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hall Commons 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 Hall Commons Inc?
Hall Commons Inc, established as a non-profit corporation in 2001, has a mission to provide housing for low-income, eligible senior citizens. They are exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. The organization received funding for construction from the U.S. Department of Housing and Urban Development (HUD) and the State of Connecticut Department of Economic and Community Development (DECD). The project, completed in 2006, consists of a 41-unit apartment complex. To maintain the funding, the organization is required to keep the project as low-income housing.
Who is the CEO of Hall Commons Inc?
Donald Goodson is the Director of Hall Commons Inc.
What is the revenue of Hall Commons Inc?
Hall Commons Inc's revenue in 2022 was $479,156.
Who are the executives of Hall Commons 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 Hall Commons Inc?
Hall Commons Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hall Commons Inc
Hall Commons Inc, established as a non-profit corporation in 2001, is dedicated to serving the housing needs of low-income, eligible senior citizens. This organization's mission is rooted in providing a sanctuary, with its construction funded by a grant from the State of Connecticut Department of Economic and Community Development and a U.S. Department of Housing and Urban Development capital advance. As a non-profit entity, Hall Commons Inc operates under Section 501(c)(3) of the Internal Revenue Code, ensuring that no personal profits accrue to its directors, officers, or members. The organization completed its project in 2006, constructing a 41-unit apartment complex in an undisclosed location. Occupancy began in 2007, and this housing facility continues its mission to provide affordable and suitable living spaces for senior citizens in need.
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Impact
July, 2024
Hall Commons Inc provides essential housing to low-income, eligible senior citizens in Bridgeport, Connecticut. This impact is significant as it addresses a critical need for affordable housing for senior citizens in the community. By offering safe and affordable living spaces, Hall Commons Inc contributes to enhancing the quality of life for vulnerable individuals who may struggle to find suitable accommodation elsewhere. Additionally, the organization's mission aligns with broader social welfare goals of supporting senior citizens in maintaining their independence and dignity as they age.
This information is meant to be a general summary of Hall Commons 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 2022.
- Investment Income: $467
- Program Service Revenue: $478,689
- Gross Receipts: $479,156
Assets and Liabilities:
- Total Assets: $4,431,646
- Total Liabilities: $4,696,065
- Net Assets: -$264,419
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS AND CHARGES
Revenue
$478,689
Organization Details
Founding Year
2001
Phone
(203) 338-0615Principal Officer
Donald Goodson
Main Address
55 GEORGE E PIPKINS WAY, BRIDGEPORT, CT, 06608
NTEE Category
Code: L21 - Housing
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