Overview
What is St Marys Residence Of New York Inc?
St. Mary's Residence of New York Inc. is a nonprofit organization situated at 225 East 72nd Street, New York, NY 10021. Their mission is to offer affordable housing and dormitory facilities to 150 women who are either employed or pursuing their studies in New York City. The tenancy is temporary, with a maximum stay of less than four years, allowing residents to secure permanent housing or settle down. The organization aims to provide below-market-rate housing as a transitional solution, ensuring they contribute positively to the city while working towards their personal goals.
Official website here: www.stmarysresidence.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
St. Marys Residence of New York Inc has received a two-star rating from Charity Navigator, indicating a need for improvement with an overall score of 62%. The organization demonstrates strengths in governance, with 100% independent board members and a solid program expense ratio of 98.06%, suggesting effective allocation of funds toward their mission-driven activities.
However, there are significant concerns regarding accountability and financial practices. Notably, the organization lacks essential policies such as a conflict of interest and a whistleblower policy, which are crucial for transparency and ethical governance. Additionally, the liabilities to assets ratio is alarmingly high at 696.81%, raising questions about the organization's financial health and sustainability.
While St. Marys Residence shows promise in its commitment to program expenses, the absence of critical governance policies and its concerning financial ratios indicate areas needing urgent attention and improvement to enhance overall effectiveness and trustworthiness.
This AI summary has been generated from information found on Charity Navigator.
Is St Marys Residence Of New York Inc legitimate?
St Marys Residence Of New York Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Marys Residence Of New York 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: $365,181
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Official website here: www.stmarysresidence.org
What is the mission statement of St Marys Residence Of New York Inc?
St. Mary's Residence of New York Inc. is committed to offering affordable housing and dormitory facilities to approximately 150 women. These women are either employed or engaged in studies in New York City. The residence serves as a temporary solution, allowing tenants to stay for a limited period, typically less than four years, until they secure permanent housing. The organization's primary goal is to provide below-market-rate housing, offering a supportive environment during their transition period.
Official website here: www.stmarysresidence.org
Who is the CEO of St Marys Residence Of New York Inc?
Sister Almaisa Brito is the President of St Marys Residence Of New York Inc.
Official website here: www.stmarysresidence.org
What is the revenue of St Marys Residence Of New York Inc?
St Marys Residence Of New York Inc's revenue in 2023 was $2,197,148.
Official website here: www.stmarysresidence.org
Who are the executives of St Marys Residence Of New York Inc and what are their salaries?
Here are 6 key members and their salaries:
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Official website here: www.stmarysresidence.org
Where can I find the form 990 for St Marys Residence Of New York Inc?
St Marys Residence Of New York Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.stmarysresidence.org
Learn more at the official website: www.stmarysresidence.org
Mission Statement of St Marys Residence Of New York Inc
St. Mary's Residence of New York Inc is dedicated to offering below-market-rate housing and dormitory facilities to 150 women who are either employed or pursuing higher education in New York City. The organization's mission is to provide a temporary living solution for these individuals, allowing them to reside there for a limited period, typically less than four years. During this time, the women are encouraged to seek and secure permanent housing, ensuring they can establish a stable living environment for themselves. The residence serves as a supportive community, offering its tenants a chance to focus on their professional and academic growth while benefiting from affordable housing options.
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Impact
July, 2024
St. Marys Residence Of New York Inc's impact is to offer below-market cost housing and dorming to 150 women who are either working or studying in New York City. They provide temporary housing for a short period of time, less than four years, before the residents find permanent housing. This initiative helps women in need to have a safe and affordable place to stay while they establish themselves in the city. This assistance can be crucial for individuals who are starting their careers or pursuing education in New York City.
This information is meant to be a general summary of St Marys Residence Of New York 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.
- Program Service Revenue: $8,892
- Gross Receipts: $2,197,148
Assets and Liabilities:
- Total Assets: $7,788,394
- Total Liabilities: $54,270,439
- Net Assets: -$46,482,045
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Vending and Laundry Income
Revenue
$8,892
Organization Details
Founding Year
1923
Phone
(212) 249-6850Principal Officer
Sister Almaisa Brito
Main Address
225 East 72nd Street, New York, NY, 10021
Website
www.stmarysresidence.orgNTEE Category
Code: L41 - Housing
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