Overview
What is Augustana Homes Inc?
Augustana Homes Inc, situated in Bridgeport, Connecticut, is a nonprofit organization dedicated to providing affordable housing options for the low-income elderly. Their mission encompasses offering both independent and assisted living, which includes congregate services, to cater to the needs of this demographic. The organization operates under the subsidy of the Connecticut Department of Housing, ensuring that their apartments remain affordable and accessible to those who require it most.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, earning it a Two-Star out of Four Star rating
Augustana Homes Inc has received a 71% rating from Charity Navigator, which indicates some areas of concern regarding its governance and accountability. The organization scored well in financial statements and program expenses, with a high program expense ratio of 87.64%, reflecting a strong commitment to its mission. However, the lack of independent board members and missing essential policies such as conflict of interest and whistleblower policies raise questions about its governance practices.
The organization has demonstrated responsibility in financial management, evidenced by a solid liabilities to assets ratio of 12.27%. Additionally, they have been noted for having no material diversion of assets, which is a positive indicator of fiscal integrity. However, the absence of a publicly available tax form and a missing website listing on the tax form are significant shortcomings that hinder transparency.
Overall, while Augustana Homes Inc shows strengths in its program expenses and financial statements, the lack of independent oversight and missing governance policies restrict its effectiveness and trustworthiness. Improvement in these areas could enhance its rating and overall impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Augustana Homes Inc legitimate?
Augustana Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Augustana Homes 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
For more financial information, click here
What is the mission statement of Augustana Homes Inc?
Augustana Homes Inc's mission is centered around providing affordable living options, specifically assisted housing, for the elderly population who fall into the low-income bracket. Their mission statement, as stated, is "TO PROVIDE AFFORDABLE HOUSING, FOR ASSISTED (CONGREGATE SERVICES) LIVING, FOR THE LOW INCOME ELDERLY." They accomplish this through the provision of 44 subsidized apartment units, funded by the Connecticut Department of Housing. This housing is designed to cater to the elderly population, offering them a suitable living environment while ensuring financial accessibility.
What is the revenue of Augustana Homes Inc?
Augustana Homes Inc's revenue in 2024 was $902,487.
Who are the executives of Augustana Homes Inc and what are their salaries?
There 4 volunteers at Augustana Homes Inc.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $256,048
- Other: $12,802
- Compensation: $0
- Related: $245,590
- Other: $12,279
- Compensation: $0
- Related: $41,321
- Other: $21,080
- Compensation: $0
- Related: $3,050
- Other: $0
Where can I find the form 990 for Augustana Homes Inc?
Augustana Homes Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Augustana Homes Inc
Augustana Homes Inc is committed to providing affordable housing solutions for the low income elderly, offering both independent and assisted living options with congregate services. Their mission, simply stated, is to ensure that elderly individuals with limited financial means have access to comfortable and secure living environments. The organization focuses on subsidized housing, ensuring that these affordable apartments are made available through partnerships with organizations like the Connecticut Department of Housing. By providing this essential service, Augustana Homes Inc contributes to the well-being and independence of the elderly community, enabling them to maintain a dignified and comfortable lifestyle.
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Impact
July, 2024
Augustana Homes Inc's impact is significant in providing affordable housing options, specifically tailored for the low-income elderly population. Through its 44 affordable assisted living apartment units in Bridgeport, CT, the organization enables seniors with limited financial resources to access quality housing and care services. By focusing on assisting this vulnerable demographic, Augustana Homes Inc plays a crucial role in supporting the well-being and dignity of low-income elderly individuals in the community.
This information is meant to be a general summary of Augustana Homes 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.
- Program Service Revenue: $412,746
- Gross Receipts: $902,487
Assets and Liabilities:
- Total Assets: $590,353
- Total Liabilities: $72,493
- Net Assets: $517,860
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT FROM TENANTS
Revenue
$203,904
TENANT SERVICES
Revenue
$200,859
SUNDRY INCOME
Revenue
$7,983
Organization Details
Founding Year
1964
Principal Officer
Michael Hanlon
NTEE Category
Code: L22 - Housing
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