Overview
What is Retiree Housing Of Worcester Inc?
Retiree Housing Of Worcester Inc, located in Lyndhurst, Ohio, is a nonprofit organization dedicated to providing affordable housing solutions for the elderly and disabled community. With just four dedicated employees, they operate 24 residential units, committed to their mission of offering low-income housing options for this demographic. The organization's activities revolve around ensuring the elderly and disabled have safe, comfortable living spaces, contributing positively to their quality of life.
Official website here: www.retireehousing.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement, Two-Star out of Four Stars (62%)
Retiree Housing of Worcester Inc has received a two-star rating from Charity Navigator, indicating that the organization needs improvement in certain areas. While it has a high program expense ratio of 98.21%, suggesting that most funds are allocated towards its programs, it struggles with financial accountability as reflected in a liabilities to assets ratio of 227.90%. This raises concerns about the overall financial health and sustainability of the nonprofit.
The organization benefits from a fully independent board, with 66% of its members being independent, which is a positive aspect in terms of governance. However, it lacks key policies such as conflict of interest, whistleblower, and document retention policies. These missing elements could pose risks to transparency and accountability, which are essential for building trust with stakeholders.
Despite its strengths in program expenses and governance composition, the lack of financial oversight and missing policies highlight critical areas that need attention. Improving these factors could enhance their rating and overall effectiveness in serving retirees in Worcester.
This AI summary has been generated from information found on Charity Navigator.
Is Retiree Housing Of Worcester Inc legitimate?
Retiree Housing Of Worcester Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Retiree Housing Of Worcester 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: $56,509
For more financial information, click here
Official website here: www.retireehousing.com
What is the mission statement of Retiree Housing Of Worcester Inc?
Retiree Housing Of Worcester Inc is committed to providing affordable housing for elderly and disabled individuals. Their mission is to offer a living space that caters to the needs of this specific group, ensuring they have a secure and comfortable environment. As of the provided information, they have successfully established 24 units for this purpose. The organization's activities primarily revolve around providing low-income housing, aiming to enhance the quality of life for its residents.
Official website here: www.retireehousing.com
Who is the CEO of Retiree Housing Of Worcester Inc?
John Joyce is the Secretary of Retiree Housing Of Worcester Inc.
Official website here: www.retireehousing.com
What is the revenue of Retiree Housing Of Worcester Inc?
Retiree Housing Of Worcester Inc's revenue in 2023 was $589,492.
Official website here: www.retireehousing.com
Who are the executives of Retiree Housing Of Worcester Inc and what are their salaries?
The average compensation at Retiree Housing Of Worcester Inc during 2023 was $14,127. There are 4 employees at Retiree Housing Of Worcester Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.retireehousing.com
Where can I find the form 990 for Retiree Housing Of Worcester Inc?
Retiree Housing Of Worcester Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.retireehousing.com
Learn more at the official website: www.retireehousing.com
Mission Statement of Retiree Housing Of Worcester Inc
Retiree Housing Of Worcester Inc is committed to providing low-income housing for elderly and disabled residents. This nonprofit organization's mission is centered around offering a home to those who may be financially challenged and require special consideration due to their age or disability. With a focus on this specific population, Retiree Housing Of Worcester Inc has successfully provided housing for 24 units, showing their commitment to this cause. By offering such a service, this nonprofit organization is contributing significantly to the well-being and comfort of its residents, ensuring they can live with dignity and independence.
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Impact
July, 2024
Retiree Housing Of Worcester Inc's impact can be seen in its provision of low-income housing for elderly and disabled residents in Lyndhurst, Ohio. By offering 24 units specifically designed for this demographic, the organization directly addresses the housing needs of a vulnerable population. This support not only ensures a safe and comfortable living environment for these individuals but also contributes to their overall well-being and quality of life. Thus, the impact of Retiree Housing Of Worcester Inc extends beyond just providing shelter, as it plays a significant role in fostering a sense of security and community for its residents.
This information is meant to be a general summary of Retiree Housing Of Worcester 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: $565
- Program Service Revenue: $156,717
- Gross Receipts: $589,492
Assets and Liabilities:
- Total Assets: $822,133
- Total Liabilities: $1,873,643
- Net Assets: -$1,051,510
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$155,372
LAUNDRY & VENDING
Revenue
$1,345
Organization Details
Founding Year
1987
Phone
(216) 360-8333Principal Officer
John Joyce
Main Address
5845 LANDERBROOK DRIVE, LYNDHURST, OH, 44124
Website
www.retireehousing.comNTEE Category
Code: L22 - Housing
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